Glaston Corporation announces a plan to reorganize its current structure to better serve its customers in the architectural, automotive, display and solar glass processing markets. While enhancing the customer experience, Glaston aims to accelerate the implementation of its strategy for the period 2021-2025. Glaston's strategic financial and non-financial targets are not changed.

The new organization is planned to come into effect on 1 October 2023. In the new structure, Glaston plans to have two Business Areas (BA) that are formed according to its customers' end-use segments: Architecture and Mobility, Display & Solar. The Architecture BA consists of current Heat Treatment Flat Laminating and Flat Tempering technologies and Insulating Glass technologies as three Business Lines.

The Mobility, Display & Solar BA consists of the current Automotive & Display pre-processing technologies and Heat Treatment technologies for the automotive, display and solar glass markets as two Business Lines. The production of Glaston technologies continues in the current locations: Tampere in Finland, Neuhausen in Germany, Bützberg in Switzerland and Tianjin in China. In addition, new global Business functions Automation & Innovation, and Sourcing & Supply Chain Management (SCM) are planned to be created.

Sales and Services will continue as global functions working together with the Business Areas. The new structure will add focus and resources in accelerating lifecycle revenue growth and dedication in Services offering development within the Business Areas. The new Business functions Automation & Innovation and Sourcing & Supply Chain Management (SCM) focus on improving scalability and efficiency of Glaston's business processes as well as speeding up time-to-market of development projects.

The ongoing execution of the strategic Must-wins continues, with more focus on the Group-wide Cornerstone initiatives contributing to Glaston-wide operational excellence. The planned structural changes are based on Glaston's strategic growth plan and are not expected to include headcount reductions. The reorganization is a tool to tap into the efficiency potential that is expected to accelerate profitability improvement towards the 10% comparable EBITA margin target by 2025.