Another Great Year for Glaston Technologies

Date: 21 April 2006

According to Kyro Groups financial statements for 2005, its main business area Glaston Technologies grew at threefold speed of its markets last year.

Including Tamglass, market leader of safety glass machinery and Z. Bavelloni, leading supplier of pre-processing machinery, Glaston Technologies increased its total net sales by 18%, from 203.0 million euros to 238.9 million. Its operating profit grew by as much as 21%, from the previous years 18.4 million euros to 22.1 million.

Architectural glass machinery in demand

Glaston Technologies, a clear market leader in glass processing machinery, also managed to grow its market shares further. Tamglass and Bavelloni successfully merged their sales organizations in the beginning of 2005, and are now able to serve the glass processing industry even better than before.

Demand for Glaston Technologies´ safety glass machines rose clearly. It was focused on large, demanding architectural glass machinery especially in the USA, where the use of energy glass and a pick-up in construction sharply increased demand. Pre-processing machines also sold well, particularly Bavellonis cutting machines and grinding equipment. Glaston Technologies order book fell slightly, but new orders grew by 16%, totalling 177.8 million euros.

Significant One-Stop-Partner launch well received

During 2005 Glaston Technologies further developed its One-Stop-Partner concept, the most comprehensive product and service offering in the industry. The most significant launch was a line jointly developed by Tamglass and Bavelloni for pre-processing and tempering of large architectural glasses as well as smaller appliance and window glass. The line consists of the worlds fastest flat tempering machine, Tamglass Sonic, and Bavellonis automatic, integrated pre-processing line.

Glaston Technologies´ after sales services grew at a record speed of almost 20%, and three new offices were opened during the year. Sales of tools for glass and stone pre-processing also grew, particularly through the launch of a new series of polishing tools. To develop its tool business, Kyro incorporated Bavellonis tool division at the beginning of 2006.

Providing that Glaston Technologies´ demand stays at current levels during 2006, the Kyro Group will again improve its net sales and operating profit.