Glaston Oyj Abp - Company Announcement

Glaston Corporation's employee co-operation negotiations in Finland completed

Helsinki, Finland, 2012-12-12 10:00 CET (GLOBE NEWSWIRE) -- Glaston Corporation
Stock Exchange Release 12.12.2012 at 11.00 (EET) 

Glaston Corporation's employee co-operation negotiations in Finland completed

Glaston Corporation's statutory employer-employee negotiations under the Act of
Co-Determination within Undertakings in Finland (YT negotiations) initiated on
13 November 2012, have been concluded. As a result of the negotiation process
and previous actions, the reduction in personnel is approximately 20 employees,
the majority of them white-collar employees. As a principal rule the personnel
reductions will commence immediately. 

Based on the work load situation in 2013 Glaston Finland also prepares to use
temporary lay-offs. 

Glaston has ongoing efficiency measures also in other locations. The largest
adjustment measures are focused on Brazil, where negotiations on efficiency
increasing actions will be completed during January 2013. Personnel in Brazil
is reduced with a little less than 30 persons. 

The adjustment program will give cost savings of around EUR 5 million per year,
occuring in full by the end of year 2013. 

At the end of September 2012, Glaston's Continuing Operations had a total of
624 persons, of whom 150 worked in Finland. 




For further information please contact:
President & CEO Arto Metsänen, tel. +358 10 500 6100.

GLASTON CORPORATION
Agneta Selroos
Director, Corporate Communications and Marketing
phone +358 10 500 6105


Glaston Corporation
Glaston is a global company developing glass processing technology for
architectural, solar, appliance and automotive applications. Our portfolio
ranges from pre-processing and safety glass machines to software solutions and
services. We are dedicated to our customers' continued success and provide
services for all glass processing needs with a lifecycle-long commitment in
mind. For more information, please visit www.glaston.net. Glaston's share
(GLA1V) is listed on the NASDAQ OMX Helsinki Small Cap List. 

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