Glaston Corporation Stock Exchange Release 28 November
2007 at 2:30 p.m.
Glaston sells real estate
Glaston Corporation has completed the sale of 90 items of real estate
to Soft-Invest Oy. With the total value of the sold real estate
amounting to EUR 2,900,000, Glaston will record non-recurring gains
of EUR 2,750,000 (before taxes) for the sale.
The divested real estate includes land, gravel areas and forest
ranges in Hämeenkyrö, Ikaalinen, Parkano, Jämijärvi and Ylöjärvi.
In June 2007, Glaston's Board of Directors decided to divest non-core
fixed assets as part of the firm's restructuring and the related
financing.
"While this divestment involved Glaston's major land areas, the Group
still owns individual items of real estate unrelated to its core
operations, and we estimate that they will be sold during 2008 at the
latest," states Kimmo Lautanen, Glaston's CFO.
Tampere, 28 November 2007
Glaston Corporation
Agneta Selroos
IR & Corporate Communications Manager
For further information, please contact:
Kimmo Lautanen, CFO, Glaston Corporation, tel. +358 10 500 500
Glaston Corporation
Glaston Corporation (formerly Kyro) is a growing, financially solid
and global glass technology group. As the leading supplier of glass
processing machines in the world and a One-Stop-Partner for glass
processors, Glaston's product range and service network are the most
extensive in the industry. Glaston's well-known brands include the
pre-processing machine and tools supplier Bavelloni, the safety glass
machine suppliers Tamglass and Uniglass and the glass industry
software Albat+Wirsam.
The company's own glass processing unit, Tamglass Glass Processing,
is a high-quality safety glass producer operating in Finland.
Glaston's share (GLA1V) is quoted on the Mid Cap list of the OMX
Nordic Exchange Helsinki.
www.glaston.net
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