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
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