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2009-03-05 12:00:00 CET 2009-03-05 12:00:03 CET REGULATED INFORMATION Glaston Oyj Abp - Company AnnouncementCo-operation negotiations concerning Glaston's glass processing unit endedGLASTON CORPORATION Stock Exchange Release 5th March 2009 1 p.m. Co-operation negotiations concerning Glaston's glass processing unit ended Co-operation negotiations to bring the building glass operations of Tamglass Glass Processing, a subsidiary of Glaston Corporation, into line with the current market situation, have been concluded. As a result, Tamglass Glass Processing will focus its building glass production to Tampere and production at the Lempäälä plant will be wound up by 15th June 2009. This will entail 35 redundancies, in addition to which the firm's entire personnel will be subject to temporary lay-offs of 25 weeks during 2009, through to the end of March 2010, and in addition with respect to 30 staff, the lay-offs are for the time being. Upon the conclusion of the negotiations, Tamglass Glass Processing has around 113 staff, 93 being employed in Tampere's building glass operation and 20 in the town of Akaa's solar energy operations. For further information, please contact: Glaston Corporation, Mika Seitovirta, CEO & President Tel. +358 (0)10 500 500 Tamglass Glass Processing, Timo Rautarinta, Managing Director Tel. +358 (0)10 500 510 Submitted by: Glaston Corporation Agneta Selroos Corporate Communications and IR Manager Tel. +358 (0)10 500 6105 Glaston Corporation Glaston Corporation is a growing, global glass technology group. As the leading supplier of glass processing machines in the world and a One-Stop-Partner for glass processors, its product range and service network are the most extensive in the industry. Glaston's well-known brands are Bavelloni in pre-processing machines and tools, Tamglass and Uniglass in safety glass machines, and Albat+Wirsam in software solutions. Glaston's own glass processing unit, Tamglass Glass Processing, is a manufacturer of high quality safety glass products, and operates in Finland. Glaston's share (GLA1V) is quoted on the Mid Cap list of the NASDAQ OMX Helsinki. www.glaston.net |
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