Market conditions affect Glaston's profits, orders

Glaston Corp.
October 24, 2008

"The market situation weakened significantly during the third quarter and in the last week of September we lowered our operating profit forecast for 2008," President and CEO Mika Seitovirta said in the company's interim report, released Oct. 24. "Demand for the Group's products in the Middle East and South America, however, continues to be strong. Demand in the One-Stop-Partner and particularly the solar energy market continued to be relatively good, but customers' decision-making times have lengthened, influencing the Group's order intake. In North America, demand was still weak and no signs of recovery in the near future are perceptible."

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