Glaston Oyj Abp (HEL:GLA1V) Glaston Ends Employee Co-operation Negotiations In Finland

Glaston Oyj Abp (HEL:GLA1V) GLASTON CORPORATION Stock Exchange Release 18.12.2008 10.00 a.m.



Glaston ends employee co-operation negotiations in Finland

Glaston Corporation's statutory employer-employee negotiations under the Act on Co-Determination within Undertakings (YT negotiations) have been concluded. The start of the negotiations, relating to Glaston's efficiency programme, was announced in October.



Glaston Finland will have temporary lay-offs of its entire workforce, a total of 200 employees, for an average of 4-8 weeks in spring 2009. Sales, service and product development personnel are unaffected by the temporary lay-offs.

Glaston also has efficiency measures in all other units. In the Pre-processing business area, 25 percent of the workforce, or around 100 employees, are on regular basis lay-offed accordingly with the order intake.

In addition, personnel reductions will take place in several units, resulting in the redundancy of around 100 employees. The use of contract labour is reduced by 50 persons.

Currently Glaston employs approximately 1,500 persons.

Further information: President & CEO Mika Seitovirta Tel. +358 10 500 6100

Sender: Glaston Corporation Agneta Selroos IR and Communications Manager Tel. +358 10 500 6105

This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

Glaston Oyj Abp

http://www.glaston.net

ISIN: FI0009010219

Stock Identifier: XHEL.GLA1V