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Glaston restructures Tamglass Glass Processing

Post Time:Nov 12,2013Classify:Industry NewsView:39

As part of its recovery program, Finnish Glaston Corp.'s subsidiary Tamglass Glass Processing is restructuring its activities. A proposal for the ensuing co-operation negotiations has been issued July 30.

“No decisions have been made so far,” says Mika Seitovirta, president and CEO. “The plan is to re-organize the business of Glaston’s subsidiary Tamglass Glass Processing. This company is Glaston’s own glass processing unit, operating on the Finnish market. Tamglass Glass Processing will close its working machine and special automotive glass business and focus on architectural glass business.”

The business facing closure currently employs a staff of about 30.

“During the negotiations, we are looking for solutions so that the number of employees affected can be minimized” says Timo Rautarinta, managing director, Tamglass Glass Processing. “Our most important goal is the improvement of our profitability. One step is to close the most unprofitable part of the business.”

During the first quarter of the year, Tamglass Glass Processing’s losses were 1.6 million euro or $2.4 million, Seitovirta says. “The recovery plan for Tamglass Glass Processing has been further enhanced. This part of the business is running at big losses.”

This is an issue that is 100 percent related to Finland and there is no effect for the industry at large, Seitovirta says.

Going forward, “the company will enhance its architectural glass business, which will become a stronger priority in the future,” Rautarinta says. “In addition to that we will re-organize and train our sales force and re-organize our production.”

—By Sahely Mukerji, News editor/Managing editor, Glass Magazine

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