Glaston Unveils Organizational Revamp to Enhance Customer Experience and Strategy Execution
Glaston Corporation, a leading provider of glass processing solutions, announces an exciting plan to restructure its organization, aiming to better serve customers in various glass processing markets. The strategic revamp is designed to accelerate the implementation of Glaston’s 2021-2025 strategy while prioritizing an enhanced customer experience. With the new organizational structure set to take effect on October 1, 2023, Glaston aims to drive operational excellence and maintain its financial and non-financial targets.
Introducing Two Business Areas
Under the revamped structure, Glaston will establish two distinct Business Areas (BA) tailored to customers’ specific end-use segments. The Architecture BA will encompass Heat Treatment Flat Laminating, Flat Tempering, and Insulating Glass technologies, while the Mobility, Display & Solar BA will include Automotive & Display pre-processing technologies and Heat Treatment technologies for the automotive, display, and solar glass markets.
Strengthening Focus and Resources
The reorganization will provide added focus and resources to drive revenue growth throughout the product lifecycle and enhance service offerings within the Business Areas. To further streamline operations, Glaston plans to create two new global Business functions: Automation & Innovation and Sourcing & Supply Chain Management (SCM). These functions will optimize business processes, improve scalability, and expedite time-to-market for development projects.
Continued Must-Win Execution and Operational Excellence
Glaston remains committed to executing its strategic Must-Wins, with a heightened emphasis on Group-wide Cornerstone initiatives that contribute to operational excellence across the organization. The planned structural changes are aligned with Glaston’s growth plan and do not involve any anticipated headcount reductions. Instead, the reorganization aims to unlock efficiency potential and propel profitability towards the targeted 10% comparable EBITA margin by 2025.
Executive Management Group Changes
As part of the organizational changes, Glaston has announced key appointments to its Executive Management Group. Miika Äppelqvist, currently SVP Heat Treatment Technologies, will assume the role of SVP Architecture, relocating to Neuhausen, Germany. Robert Prange, presently SVP Automotive & Display Technologies, will lead the new Business functions Automation & Innovation and Sourcing & Supply Chain Management as SVP Automation & SCM.
A Unified Glaston for Future Success
Glaston continues to prioritize customer collaboration and innovation. With the new organizational structure and a unified approach, Glaston is poised to serve customers across the architecture, mobility, solar, and display glass processing sectors. The company expects to expedite time-to-market for innovations and provide an even stronger team to drive the strategy journey for the 2021-2025 period.
Updated Financial Reporting and Reporting Segments
The Business Areas, including their respective Services businesses, will serve as Glaston’s reporting segments. The company will adjust its financial reporting to reflect the new organizational structure starting in the fourth quarter of 2023. Detailed comparable financial figures will be disclosed ahead of the full-year 2023 financial report.
Source: Glaston Corporation with additional information added by Apazone