Industry Investment invests MEUR 6.6 in glass technology company Glaston

Investments in companies - 2.3.2010

Finnish Industry Investment Ltd has made a MEUR 6.6 investment in Glaston Corporation. Glaston is an international glass technology company and a pioneer in its field.

Glaston’s customers are glass processors supplying the construction, appliance, furniture and automotive industries, as well as the architectural industry, the solar energy segment and the automotive industry directly.

The company manufactures machines for the heat-treatment of glass to produce safety glass. Glaston’s product range includes tempering, bending and laminating machines, and glass pre-processing machines for applications ranging from cutting and drilling through to edging and grinding glass. The company also offers service and maintenance.

“Strongest growth in the glass market can be seen in China, elsewhere in Asia, and also in South America. The increasingly widespread use of energy-efficient glasses is an opportunity for us, and we believe the favourable trend in the solar energy market will continue. We are continuously enhancing our service business,” says Glaston’s President and CEO Arto Metsänen.

“What is most interesting about Glaston is the company’s strong market position and its future opportunities in solar energy,” comments Investment Director Antti Kummu from Industry Investment.

Glaston’s head office is located in Tampere, Finland. The company has production facilities in Finland, Italy, Brazil and China, and over 20 service locations around the world. In 2009, Glaston employed some 1,200 professionals and generated net sales of MEUR 152.


Glaston Corporation is a growing, international glass technology company. Glaston is the global market leader in glass processing and a one-stop supplier to its customers. The company’s product range and service network are the most extensive in the industry. Glaston’s world-famous brands are Bavelloni pre-processing machines and tools, Tamglass and Uniglass safety glass machines, and Albat+Wirsam Software for the glass industry. Glaston’s share is quoted on the NASDAQ OMX Helsinki Mid Cap List. www.glaston.net

Finnish Industry Investment Ltd is a government-owned investment company whose mission is to promote and stimulate Finnish business, employment and economic growth through capital investment. Finnish Industry Investment invests in growth companies, directly and through funds, together with private co-investors. Capital investments are needed for financing the growth of investee companies, internationalisation, spin-offs, major industrial investments, and sector and corporate restructurings. The targets are in all sectors. The investments of Finnish Industry Investment amount to some MEUR 640. www.industryinvestment.com

 

More information: 

- Arto Metsänen, President and CEO, Glaston Corporation,
tel. +358 10 500 6100, arto.metsanen (at) glaston.net

- Antti Kummu, Investment Director, Finnish Industry Investment Ltd,
mobile +358 50 432 4486, antti.kummu (at) industryinvestment.com