Glaston adjusts its operations in Finland
Today, on 3 March 2009, Glaston Finland Oy has initiated negotiations in
accordance with the Act on Co-operation within Undertakings, on adjusting the
operations of its Heat Treatment business area to the prevailing market
situation, because the adjustment measures agreed in late 2008 were insufficient
in light of the orders received during recent months.
The entire personnel of Glaston Finland are in the sphere of the negotiations,
except its service business, totalling approximately 200 persons. The additional
temporary lay-off requirement is estimated at 10 weeks, and redundancies for
maximum 10 employees are estimated. The final level of the programme will be
determined in negotiations with personnel representatives.
Glaston Finland Oy's previous employer -employee co-operation negotiations were
completed in December 2008. As a result of these negotiations, the company
decided to temporary lay off its entire personnel for a period of 4 to 8 weeks
during the winter and spring of 2009. Sales, service and product development
personnel were unaffected by the temporary lay-offs. Currently, the employment
contracts of 14 persons have been terminated due to production and financial
Co-operation negotiations within Glaston's glass processing unit, Tamglass Glass
Processing, will be completed on Thursday, 5 March 2009, and their results will
be communicated during the same day.
Presently, Glaston employs approximately 1,500 staff, of which some 400 work in
For further information, please contact:
Glaston Corporation, Mika Seitovirta, CEO & President
Tel. +358 (0)10 500 500
Corporate Communications and IR Manager
Tel. +358 (0)10 500 6105
Glaston Corporation is a growing and 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