Glaston’s Board of Directors has approved a revised strategy with its key objectives for 2021–2025.
The key objectives look at improved organic growth and profitability, based on Glaston’s own strategic initiatives and the expected market growth.
Glaston’s glass processing equipment market is expected to grow by more than 5% annually on average during the strategy period, and its ambition is to exceed this market growth even further.
Its core technologies and lifecycle solutions continue to be at the centre of its strategy and it aims to take market share in all its business areas.
The company also plans to increase its investments in innovation and development while also continuing its commitment to the industry’s digital transformation.
Along with its strategy, Glaston has set a new vision, which is to ‘lead the global glass processing industry forward with innovative technologies and lifecycle solutions’.
The company’s purpose continues to be ‘build a better tomorrow through safer, smarter and more energy-efficient glass solutions’.
Anders Dahlblom, President and CEO of Glaston Corporation said: “This strategy builds on our strengths, which are derived from the combination of Bystronic glass and Glaston.
“Strong global megatrends and clearly growing markets, as well as our business area specific and company-wide initiatives, are driving the growth and give us the confidence to set ambitious financial targets.”
He added: “Glaston is aiming to take its sustainability ambition to the next level by adding new non-financial targets.
"These highlight the sustainable nature of our business and the strategic importance of our ESG commitment. I look forward to embarking on this strategic journey together with a fully committed Glaston team.”
The following strategic initiatives have been identified by Glaston:
- Insulating Glass will capitalise on its most advanced and automated technology offering on the market by strengthening and broadening its presence in all main customer segments and regions, particularly in North America and APAC.
The move towards carbon neutrality in Europe is already driving growth strongly within the EMEA.
The increased focus on reducing the energy consumption of buildings is also expected to boost demand in other regions in the coming years.
- Heat Treatment will continue its systematic development work for increasing the level of automation towards a fully automated tempering line and modularity of products, while broadening the offering.
Emphasis is also being placed on optimising for cost efficiency and quality by, for example, further developing installation processes for an excellent customer experience.
Glaston also sees opportunities in solar panel glass processing technologies, in which demand is being driven by the shift to renewable energy.
- Automotive & Display will focus on automotive and selected display applications, as well as commercialising the most comprehensive product portfolio in the industry.
Glaston will also continue to develop automotive heat treatment products to complement its pre-processing products for an integrated offering.