Glaston Corporation has closed the sale of 100% of the shares of Glaston Italy S.p.A.
Glaston Corporation has closed the sale of 100% of the shares of Glaston Italy S.p.A. to the local management of Glaston Italy S.p.A. as announced in a stock exchange release on 22 May 2015. Glaston acquired the Italian company Z. Bavelloni Immobiliare S.p.A. in 2003.
The assessments of the impact of the sale remain unchanged and the final impact of the sale will be defined in Glaston Corporation’s Interim Report for January-June 2015, to be published on 6 August 2015. Pre-processing machines have been reported as part of the Machines segment. In the January-June interim report pre-processing machines will be classified as Discontinued Operations.
The sale does not change Glaston’s guidance for 2015.