Brief: Glaston Plans To Transfer Production Of All Glass Pre-Processing Equipment To China

Glaston Oyj Abp

07/08/2024 10:49

Aug 7 (Reuters) - Glaston Oyj Abp  GLA1V.HE :
    * GLASTON PLANS TO TRANSFER PRODUCTION OF ALL GLASS
PRE-PROCESSING
EQUIPMENT TO CHINA
    * IN FIRST HALF OF 2024 OVER 90% OF GLASTON'S PRE-PROCESSING
EQUIPMENT ORDER INTAKE WAS FROM APAC, MAINLY FROM CHINA
    * ESTIMATED COSTS OF PLANNED PRODUCTION TRANSFER ARE
APPROXIMATELY
EUR 6 MILLION
    * COSTS WOULD BE BOOKED AS ITEMS IMPACTING COMPARABILITY AND
THEY
ARE EXPECTED TO BE INCURRED MAINLY IN 2024 AND 2025
    * BASED ON INITIAL ANALYSIS, ANNUAL NET COST SAVINGS FROM
TRANSFER
WOULD TAKE PLACE IN SEVERAL PHASES AND REACH OVER EUR 2 MILLION
BY END OF 2025
    * APPROXIMATELY EUR 2 MILLION OF COSTS ARE ESTIMATED TO BE
NON-CASH
    * PLANNED PRE-PROCESSING OFFERING PRODUCTION TRANSFER TO
CHINA
WOULD AFFECT AN ESTIMATED 30 EMPLOYEES IN SWITZERLAND
    * PROCESS IS EXPECTED TO BE COMPLETED BY EARLY SEPTEMBER

Source text for Eikon:  ID:nWkr921gnz 
Further company coverage:  GLA1V.HE 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 7696600;))