Glaston Corporation Within Information 14.6.2022 at 16.00 EET
Glaston’s Board of Administrators has accepted a system to create the creation of Automotive pre-processing equipment for normal goods at Glaston’s manufacturing unit in Tianjin, China. The goal is to provide customers in the globally biggest automotive industry with area machine output. The prepare is in line with Glaston’s strategic target to expand its company in China and enhance operational performance.
Glaston’s addressable world-wide automotive glass machines market place was estimated at more than EUR 50 million in 2021, with expected continuous advancement. Asia and China, in distinct, are main growth locations in the automotive market. In the prior many years, China’s share of the automotive glass new machinery market place has been 50−70%[(1] of which the the greater part are regular products and solutions. Dependent on its very long expertise of operating in the Chinese industry and technological know-how, Glaston is very well-positioned to faucet into the automotive progress in the area.
For much more than 50 decades, Glaston has served automotive glass processing clients globally from its manufacturing web-site in Switzerland. Ramping up the output at Glaston’s factory in Tianjin, currently producing heat treatment method and insulating glass tools, begins with enhancing community automotive technological know-how know-how and merchandise-certain output capabilities as nicely as location up a local automotive provide chain network to meet essential high quality criteria. The first products produced in China for the Chinese current market are anticipated to be delivered in the course of the 1st half of 2023.
Introducing the Automotive offering’s nearby production in the Chinese sector contributes to Glaston’s strategy of profitable development by improved solution giving for the Chinese marketplace as very well as productivity improvements. The approximated financial commitment for the implementation of the program is close to EUR 1.4 million. Most of the fees and cash expenditure are anticipated to take location in 2022. The program enables progressively improving output price tag efficiencies of 10−15% beginning in 2024. The prepare is based on an assumption that COVID-19 associated restrictions will gradually ease in China in the second half of 2022. If this will not take place, the timing of the economical impacts will go forward.
“In China for China. Growing the role of our Tianjin facility will empower us to arrive at a new automotive glass processing shopper section in China as perfectly as fortify our placement with existing prospects. Proximity to the client is crucial when addressing our growth ambition in the Chinese current market. Glaston has been present in China for additional than 20 several years. We have a lengthy practical experience and higher readiness and versatility to provide clients with area generation, shipping and solutions. With this program we will get a additional adaptable footprint and value efficiencies in just our automotive small business,” says Anders Dahlblom, President and CEO of Glaston Company.
Creation of Automotive devices in Bützberg, Switzerland will carry on to provide Glaston prospects outdoors of China. The Swiss manufacturing facility will also provide custom-made machines to China. In accordance to latest estimates, the prepared generation ramp-up in China has no direct staff impacts in Switzerland.
For further more data, remember to speak to:
President & CEO Anders Dahlblom, tel. +358 10 500 500
Chief Economic Officer Päivi Lindqvist, tel. +358 10 500 500
Pia Posio, VP, Communications, Marketing and IR, Tel. +358 10 500 5076
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Glaston is the glass processing industry’s modern know-how chief giving gear, services and remedies to the architectural, automotive, photo voltaic and exhibit industries. The company also supports the development of new technologies integrating intelligence to glass.
Glaston is dedicated to delivering its purchasers with both of those the most effective know-how and the hottest technologies in glass processing, with the reason of creating a improved tomorrow as a result of safer, smarter, and additional strength successful glass solutions. Glaston operates globally with manufacturing, companies and profits offices in 10 countries and its shares (GLA1V) are listed on Nasdaq Helsinki Ltd.
Distribution: Nasdaq Helsinki Ltd., crucial media, www.glaston.web