Glaston Corp. Announces it Will Merge Business Areas;
Close New Jersey Location
April 22, 2009
In addition to currently ongoing development programs Glaston Corp.
has launched structural actions to increase profitability, especially
in its machine business. The current pre-processing and heat treatment
business areas have been merged into one new business area Machines
As part of the re-structuring Glaston will close a machine manufacturing
plant in Cinnaminson, N.J. The manufacturing of U.S. tempering lines
will be transferred to Finland and China.
According to a company statement, the targeted annual cost savings
from the merger and improved productivity is estimated to be EUR
3.5 million globally. The merger will generate one-off costs estimated
at EUR 3.7 million, recognized mainly in the second quarter of 2009.
Possible redundancies will be analyzed and faced in compliance with
The global machines business area is headed by M.Sc. (Eng.) Topi
Saarenhovi, who has been appointed senior vice president, machines.
Saarenhovi joined Glaston in 2007 as senior vice president, heat
treatment. According to the company's announcement, Paolo Ceni,
senior vice president, pre-processing, has decided to pursue his
career outside Glaston Corporation.
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