Glaston Corporation, has signed an agreement to divest its pre-processing business in Mexico, to Italian Bavelloni S.p.A. The divested business’ net sales for January-September 2019 was approximately EUR 2 million and it has had a slightly positive EBITA impact.
The business has been part of the Glaston segment’s “Other” product area. The transaction does not affect Glaston’s guidance for the current year.
With the aim to focus on one of its core technologies, Heat Treatment, Glaston divested its pre-processing business in Italy in 2015. In 2016 the pre-processing businesses in USA and Canada were divested and in 2018 the Group’s Tools business in Italy was sold and the joint venture discontinued in China.
The remaining share of the pre-processing and tools businesses included in the “Other” product area will continue as is, as distribution agreements for Bavelloni’s pre-processing products and tools in Brazil and Singapore remain in force.
Glaston will continue its sales and services in Mexico through its units in Americas supported by Bavelloni Mexico regarding Heat treatment projects.
For further information:
Commercial inquiries:
Artturi Mäki, SVP Services, phone +358 40 572 6070
Press and investor inquiries:
Joséphine Mickwitz, VP IR, Communications & Marketing, phone +358 500 5070
Glaston in brief
Glaston is the glass processing industry’s innovative technology leader supplying equipment, services and solutions to the architectural, automotive, solar and appliance industries. The company also supports the development of emerging technologies integrating intelligence to glass.
As of April 2019, Bystronic glass is part of Glaston Group. Together we are committed to providing our clients with both the best know-how and the latest technologies in glass processing, with the purpose of building a better tomorrow through safer, smarter, and more energy efficient glass solutions. We operate globally with manufacturing, services and sales offices in 12 countries. Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd.
15.11.2019, Glaston Corporation
News material on the Site is copyright and belongs to the Company or to its third party news provider, and all rights are reserved. Any User who accesses such material may do so only for its own personal use, and the use of such material is at the sole risk of the User. Redistribution or other commercial exploitation of such news material is expressly prohibited. Where such news material is provided by a third party, each User agrees to observe and be bound by the specific terms of use applying to such news material. We do not represent or endorse the accuracy or reliability of any of the info contained in any news or external websites referred to in the news.
Should the content or the design of these sites violate third parties rights or legal prescriptions, we kindly ask you to send us a respective message without invoice or cost. We guarantee that passages where the claim is considered as justified will be removed immediately, without any necessity to involve any lawyer into this issue. We will reject any claim caused by submission of a honorary note in this regard without any prior contact and confirmation of the issueby us and we reserve the right ssue counter claim ourselves because of violation of aforesaid conditions.