Glaston Oyj Abp - Company Announcement

Glaston Corporation recognizes impairment loss of goodwill and revises forecast

Helsinki, Finland, 2012-04-25 15:00 CEST (GLOBE NEWSWIRE) -- Glaston
Corporation Stock Exchange Release 25 April 2012 at 16.00 



Glaston Corporation recognizes impairment loss of goodwill and revises forecast

The sensitivity analyses of the goodwill impairment testing of the
Pre-processing operating segment made at the end of 2011 and published in the
2011 consolidated financial statements indicated that there was a possibility
for impairment of goodwill in case the actual cash flows would differ from
estimated cash flows. Glaston has during 2012 monitored continuously the
performance of this operating segment and performed impairment testing of
goodwill based on updated forecasts. As a result of the test, the Board of
Directors of Glaston has decided in its meeting on April 25, 2012 to recognize
an impairment loss of EUR 3.0 million in the Pre-processing operating segment
within the Machines segment. 

For other segments impairment tests have been performed, if during the
beginning of the year there have been indications of a possible impairment
loss.These impairment results did not result in recognition of goodwill
impairment loss in the other segments. 

The impairment loss of goodwill has no cash flow effect and it will be
recognized in Glaston's first quarter result as a non-recurring item. 

The forecast, published in February 2012 remains unchanged regarding net sales,
and Glaston expects that 2012 net sales will be at least at the 2011 level. The
forecast for operating result is revised so that the operating result excluding
non-recurring items is expected to be positive. Earlier Glaston forecasted that
the operating result was expected to be positive. 

Glaston Corporation will publish its January-March 2012 Interim Report on 3
May, 2012. 



For further information, please contact:
CFO Tapio Engström, phone. +358 10 500 500

GLASTON CORPORATION
Agneta Selroos
Director, Communications and Marketing



Glaston Corporation
Glaston Corporation is an international glass technology company and a pioneer
of glass processing technology. Its product range and service network are the
widest 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 glass industry software. Glaston's share (GLA1V)
is listed on the NASDAQ OMX Helsinki Small Cap List. 

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