Glaston Completes A+W Software Acquisition, Makes Additional Name Changes

Glaston Corp. of Finland today completes the acquisition of the entire share capital of the leading glass industry software company, A+W Software AG Group, according to an agreement signed May 31. The purchase price was settled at EUR 20.3 million or (USD $27.6 million).

A+W Software will continue to function as its own business area under the Glaston Group. The financial reporting of the software business operations will become available in Glaston's Interim Report for January-September, which will be released Nov. 8.

In other news, Glaston's subsidiaries Tamglass and Bavelloni have changed their names to Glaston. While Tamglass and Bavelloni corporate identities are no longer in use, their well-known names will remain as strong, leading trademarks in glass processing technology, according to Glaston Corp.

The Finnish parent company of the Tamglass group, Tamglass Ltd. Oy now is called Glaston Services Ltd Oy. Tamglass Engineering Oy, manufacturing and selling safety glass machinery, was changed to Glaston Finland Oy. The Italian Bavelloni's new name is Glaston Italy Spa.

The name change of the companies follows Kyro Corporation's name change to Glaston in the beginning on June 1. Nearly all Glaston subsidiaries will change their names during this year, apart from Tamglass Glass Processing Ltd that operates in Finland.