Glaston ends employee co-operation negotiations in Finland
GLASTON CORPORATION Stock Exchange Release 17 March, 2009 at 11:00 a.m.
Glaston ends employee co-operation negotiations in Finland
Glaston Finland Oy's on 3 March, 2009 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, have been
concluded.
Glaston Finland will have temporary lay-offs of its entire workforce, excluding
service business, a total of 200 employees, for on average of an additional 10
weeks during 2009, and redundancies for maximum 10 employees.
As a result of these negotiations and the previous employer-employee
co-operation negotiations completed in December 2008 the total temporary
lay-offs of Glaston Finland's workforce is estimated to 10-18 weeks, with the
exception of service business personnel, and the redundancies to 25 employees.
For further information, please contact:
Glaston Corporation, Mika Seitovirta, CEO&President
Tel. +358 (0)10 500 500
Submitted by:
Glaston Corporation
Agneta Selroos
Corporate Communications and IR Manager
Tel. +358 (0)10 500 6105
Glaston Corporation
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
Helsinki.
www.glaston.net