Glaston Oyj Abp - Company Announcement

Glaston to streamline operations in Asia and South America

Helsinki, Finland, 2015-10-26 12:15 CET (GLOBE NEWSWIRE) -- Glaston Corporation
                Stock Exchange Release                                       26
October 2015 at 13.15 p.m. 


Glaston to streamline operations in Asia and South America
Glaston concluded the sale of its pre-processing machine business in June 2015.
To streamline its operations, Glaston has begun adjusting its capacity to its
new structure and the current market situation. Measures will mainly be taken
in Asia and South America. 

Pre-processing units have been operationally restructured due to the sale of
the pre-processing machine business. The main impact is in the Tianjin factory
in China, where pre-processing machine assembly has stopped. In South America,
production capacity has been adjusted to the current market situation. 

These measures are expected to yield EUR 1.3 million in annual cost savings.
The profitability improvement measures will affect some 45 people in total in
Asia and South America. They will be implemented by the end of 2015 and the
savings will take effect from the beginning of 2016 onwards. The estimated
one-off costs related to the measures are EUR 1.2 million, of which EUR 0.5
million with cash flow impact. One-off costs of EUR 0.3 million has been booked
in the two previous quarters. Approximately EUR 0.9 million will be booked in
the final quarter of 2015. 

In the future, Glaston will focus on high-technology heat treatment and service.


Further information:
Glaston Corporation
President & CEO Arto Metsänen, tel. +358 (0)10 500 500
CFO Sasu Koivumäki, tel. +358 (0)10 500 500



GLASTON CORPORATION
Agneta Selroos
Communications Director
Tel. +358 40 7453 737








Glaston Corporation
Glaston is a leading company in glass processing technologies. We provide
high-quality heat treatment machines and services for architectural, solar,
appliance and automotive applications. We are committed to our customers'
success over the entire lifecycle of our offering. Moreover, we continuously
innovate and develop technologies to enable the glass processing industry to
reach ever higher standards in quality and safety. Glaston's shares (GLA1V) are
listed on the NASDAQ OMX Helsinki Ltd. in Finland. For more information, please
visit: www.glaston.net 

Distribution: NASDAQ OMX Helsinki, main media, www.glaston.net