Glaston divests its Tools business
PRESS RELEASE 20.12.2018
Glaston, a frontrunner in glass processing technologies and services, has signed an agreement to divest its Tools business, specialized in manufacturing and sales of tools for glass and stone processing, to Italian Bavelloni S.p.A. The divestment is a step in accordance with Glaston’s strategy to focus on its core Heat Treatment and Emerging Technologies and related services. The sale is carried out through a share deal of Glaston Tools S.r.l in Italy. It has also been agreed that Glaston will continue as a Tools distributor through its offices in Mexico, Brazil and Singapore in their respective territories. Earlier this year Glaston discontinued its joint venture company for Tools sales and manufacturing in China.
“Glaston’s Tools business has a strong heritage within the glass and stone industry since 1950’s. We foresee a strong future for the Tools business with a dedicated new owner with Tools as part of their core business. Machinery and services for tempering and laminating continue to be in the core of Glaston’s solutions globally” says Artturi Mäki, Senior Vice President, Glaston Services.
For tools inquiries visit: www.bavelloni.com