Glaston Oyj Abp

Glaston Corporation released its January-September 2024 interim report, highlighting cautious development in the architectural glass processing equipment market and growth in China's mobility glass processing market, though the latter is expected to remain volatile. The company's net sales are projected to remain at 2023 levels, with comparable EBITA estimated between EUR 14.5−16.0 million. The third quarter saw a 5% increase in order intake compared to the previous quarter, with significant growth in the Mobility, Display, and Solar segment compensating for a decline in the Architecture segment. Net sales increased by 4% to EUR 55.4 million, and profitability improved with a 7% rise in comparable EBITA. Glaston is transferring production from Switzerland to China to enhance efficiency, resulting in workforce reductions in Switzerland. CEO Toni Laaksonen noted positive feedback on Glaston's technology and innovations, and the company plans organizational changes to boost strategy execution and service capabilities. Market activity is expected to remain slow in the final quarter, with a focus on securing order intake and project deliveries. An analyst and press meeting will present the financial results. Glaston is a leader in glass processing technology, operating globally with its shares listed on Nasdaq Helsinki.

Glaston Corporation announced plans to accelerate its strategic growth and profitability initiatives, focusing on improving customer experience, especially in services. The company will maintain its medium-term strategic targets and introduce a new initiative called 'Industry-leading customer service.' Organizational changes include the creation of three new Business Functions, with a global focus on production operations, supply chain management, and development. Changes in the Leadership Team will take effect on January 1, 2025, with Miika Äppelqvist appointed as Chief Solutions & Operations Officer. The company does not anticipate significant net cost changes from the organizational restructuring. Employee consultations will be conducted as needed. Glaston aims to enhance customer experience and profitability by optimizing production and supply chain efficiency. The company operates globally in the architectural, mobility, display, and solar markets, with its shares listed on Nasdaq Helsinki Ltd.

Glaston Corporation announced that Robert Prange, a member of its Executive Leadership Team and SVP of Automation & SCM, will leave the company on October 13, 2024, to pursue new opportunities. As an interim measure, the Automation & Innovation and Sourcing & Supply Chain Management functions will report to the Business Areas and global functions, with no immediate plans to recruit a replacement for the SVP position. CEO Toni Laaksonen thanked Prange for his contributions and wished him well. Glaston Corporation is a leader in glass processing technology, providing equipment and solutions to various industries and is listed on Nasdaq Helsinki Ltd.

Glaston Corporation announced the composition of its shareholders' Nomination Board based on ownership as of 2 September 2024. The Board includes Jyrki Vainionpää (Ahlstrom Capital BV), Jaakko Kurikka (Hymy Lahtinen Oy), Pekka Pajamo (Varma Mutual Pension Insurance Company), and Esko Torsti (Ilmarinen Mutual Pension Insurance Company). Veli-Matti Reinikkala, Chair of Glaston's Board of Directors, serves as an advisory member. Jyrki Vainionpää was elected as Chair of the Nomination Board during its organizing meeting on 9 September 2024. The Nomination Board is responsible for preparing proposals regarding the Board of Directors' composition and remuneration for the next Annual General Meeting and any Extraordinary General Meetings. Proposals must be submitted by 31 January 2025. Glaston Corporation is a global leader in glass processing technology, with operations in nine countries and shares listed on Nasdaq Helsinki Ltd.