Following Glassrobots Bankruptcy, Glaston Acquires Industrial Property Rights
August 13, 2014
Glaston acquired the industrial property rights to all Glassrobots Oy products, following Glassrobots’ July 11 bankruptcy filing in the Pirkanmaa District Court in Finland. As a result of the deal, concluded on Aug. 8, the industrial property rights and related documentation of Finnish glass processing machine manufacturer Glassrobots Oy’s flat tempering and bending machines, its automotive products and other equipment will transfer to Glaston. The deal is conditional on the approval of the Glassrobots Oy bankruptcy estate creditors’ meeting.
The acquisition strengthens Glaston’s position as a global technology leader in glass processing machines and as a provider of the industry’s most extensive lifecycle services, according to Glaston officials.
“The acquisition will significantly strengthen our position in the heat treatment machine segment, where we are already very strong,” says Glaston Corporation’s president and CEO, Arto Metsänen. ”The deal will support our technological competitive advantage, in addition to which it will strengthen our service business, because through our extensive geographical network we will be able to supply Glassrobots’ customers with significantly more comprehensive maintenance services.”
The industrial property rights include, among other things, three major patents, which Glaston can in future utilize in its own product development. Through the acquisition, the company can also continue the active defense of its intellectual property rights in the market. In addition, the industrial property rights, documentation and supplier network will give Glaston the exclusive right to supply Glassrobots’ customers with original spare parts and technical support, Glaston officials say.
Glaston will establish a separate Glassrobots service team. Materials management and logistics will be combined at Glaston’s distribution center in Tampere, Finland. This will ensure existing Glassrobots customers continuity of aftermarket business and, in the future, more comprehensive lifecycle services for spare parts, maintenance work and modernizations.