Glaston Corporation initiates co-operation negotiations concerning measures to adapt the Glaston segment's operations to lower than expected heat treatment equipment demand. The adaptation measures concern all companies in Finland within the Glaston segment. The co-operation negotiations concern both temporary lay-offs and termination of employment contracts. The company estimates that the negotiations could lead to the termination of approximately 20 employment contracts.

A dispute between Glaston and its customer regarding a heat treatment machine acquired by the customer, is proceeding to arbitration. The customer claims the contract to be terminated and a compensation of approximately EUR 3.5 million, which would cover the acquisition price of the machine as well as, mainly indirect, damages caused to the customer. In addition, as a consequence of the termination of the contract, the ownership of the machine would be transferred back to Glaston. Glaston denies the customer's claims and finds them unfounded.

This release is a summary of Glaston Corporation's half year financial report January-June 2019. The complete report is attached to this release as a pdf-file. The stock exchange release is also available on the company's website at the address www.glaston.net. 

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