Glaston Corporation has signed an agreement to acquire the Bystronic glass Group. The globally operating high-end machinery, systems and services provider for the processing of flat glass is currently owned by Swiss industrial holding company Conzzeta AG. Bystronic glass has a comprehensive range of products, highly complementary to Glaston’s, for the Architectural, Automotive and Display markets.
Bystronic glass has a strong brand recognition based on 50+ years of industry expertise and is a market leader with an unrivalled reputation for innovation and quality. Technology frontrunner Glaston provides glass processing technologies and services for the architectural, solar, appliance and automotive industries globally. It is committed to serve clients with both the best know-how and the latest technologies in glass processing.
Through the combination Glaston will become a significant player in the glass machinery business providing a comprehensive product range offering from tempering, bending and laminating through insulating glass manufacturing and glass handling to automotive and display glass pre-processing as well as services. As a result of this transformational acquisition, Glaston will have a unique and value adding offering benefitting its customers.
About Glaston Glaston is a frontrunner in glass processing technologies and services. It responds globally to the most demanding glass processing needs of the architectural, solar, appliance and automotive industries. It utilizes emerging technologies that integrate intelligence and sustainability to glass. Glaston is committed to providing clients with both the best know-how and the latest technologies in glass processing. Glaston’s shares (GLA1V) are listed on NASDAQ Helsinki Ltd.
About Bystronic glass Bystronic glass symbolizes innovation with machinery, systems and services for the processing of architectural, automotive and display glass focussed on tomorrow’s market. From basic requirements through to entire, customized installations Bystronic glass provides pioneering solutions. Bystronic glass is an international brand with globally operating companies that support their customers on site and through own sales and service companies.
Arto Metsänen, President & CEO of Glaston, comments: “I am very pleased to welcome Bystronic glass’s highly professional team to Glaston. We have followed the company for years and we are very impressed by the quality of its products and its transformation when it comes to both operational and financial performance. Together we will become a leading player in the glass processing technology market for the benefit of our customers. With our combined capabilities and expertise, we will be able to offer customers equipment, services and solutions from one supplier optimizing customer operations and driving customer value.”
Dr. Burghard Schneider, CEO of Bystronic glass, adds: “We are proud of our employees for delivering significant improvements over recent years. The transaction will open a new chapter to the benefit of all stakeholders. With an enhanced systems-thinking and strengthened R&D capabilities we will shape the industry trends towards energy efficient solutions and digital integration, jointly with our new colleagues from Glaston. Together we can serve our broad, global client base even better and we remain committed to deliver flat glass processing at its best in terms of productivity, quality and cost.”
The closing of the transaction is expected by the end of the first quarter 2019, subject to regulatory approval. Glaston has secured committed debt and equity financing, subject to customary conditions and support of an extraordinary general meeting, respectively. Until the closing of the transaction, Bystronic glass and Glaston will continue to operate as two independent companies and the legal structure will remain unchanged.