Helsinki, Finland, 2016-04-05 13:00 CEST (GLOBE NEWSWIRE) -- Glaston Corporation                     Stock Exchange Release               5.4.2016 at 14.00

Operational review at Glaston’s Annual General Meeting: nanotechnology project proceeding according to plan   

Glaston Corporation will hold its Annual General Meeting in Helsinki today, Tuesday 5 April 2016, at 3 p.m. President & CEO Arto Metsänen will cover in his review the company’s financial performance in 2015, the company’s strategy for 2016–2018 and the future outlook. As part of the strategy presentation, Juha Liettyä, Senior Vice President, Machines will tell about the California based nanotechnology project.
 

In his review, the President & CEO will repeat the outlook for 2016 published on 11 February 2016: Glaston’s 2016 net sales are expected to be slightly below the 2015 level and operating profit, excluding non-recurring items, to be at the 2015 level. (In 2015 net sales were EUR 123.4 million and comparable operating profit, excluding non-recurring items, was EUR 6.1 million).
 

Glaston announced its new strategy in March 2016. The cornerstones of the strategy are growth, technology leadership and the industry’s best customer experience. Glaston’s expertise is strongest in flat tempering technology. Glaston’s growth target in this segment is supported by growth in demand for architectural glass.

Glaston is also seeking new business opportunities in emerging glass technologies. The smart glass market is in a strong development phase, its growth driven by energy-saving needs and environmental awareness.

At the end of 2015, Glaston announced its strategic investment in a California company specialising in the development of smart glass. In the project, Glaston is acting as the product developer, designer, manufacturer and seller of production lines. The project is proceeding according to plan and a prototype line is expected to be completed in autumn 2016.

The smart glass market is still in the development stage and it is seeking a technological breakthrough. If the technology now being developed is commercially viable, sale of the production lines is estimated to be launched in 2018. It is estimated that there will be an annual need for 1-4 production lines. Glaston has the exclusive right to supply the integrated line for the pilot phase and in the future thin glass heat treatment machines included in these smart glass lines. These potential machine deals will be announced in accordance with disclosure policy.

The Annual General Meeting presentation material (in Finnish) will be available at www.glaston.net by 3 p.m. at the latest.

Further information:

Arto Metsänen, President & CEO, tel. +358 10 500 500
Juha Liettyä, Senior Vice President, Machines, tel. +358 500 6310

GLASTON CORPORATION
Agneta Selroos
Communications Director

Glaston Corporation
Glaston is a leading company in glass processing technologies. We provide high-quality heat treatment machines and services for architectural, solar, appliance and automotive applications. We are committed to our customers’ success over the entire lifecycle of our offering. Moreover, we continuously innovate and develop technologies to enable the glass processing industry to reach ever higher standards in quality and safety. Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd. Further information is available at www.glaston.net

Distribution: Nasdaq Helsinki, key media, www.glaston.net