Volume 42, Issue 7 - July 2007
|Mergers & Acquisitions
Kyro Technologies Changes Name to Reflect Corporate Branding
Kyro Technologies of Finland changed its name to Glaston Corp., one of its largest divisions, on June 4. The company says the identity switch emphasizes the corporate branding of Glaston Energy and Technologies, the subsidiary that has contributed to Kyro’s worldwide growth in glass processing and technology.
According to Mika Seitovirta, president and chief executive officer, the Kyro name did not reflect the international technology group, whose main business area had been called Glaston since 2003, and whose second business area, Energy, had been earmarked for sale.
“Our purpose was not only to clarify the brand hierarchy, but also to standardize the corporate image, which is very important, especially internally, in a group formed through several company acquisitions,” Seitovirta says. “Now we are an integrated Glaston team. Tamglass, Bavelloni and Uniglass live on as strong product brands.”
The group’s numerous worldwide subsidiaries will gradually change their names to Glaston as well. In other news from the company, Glaston has appointed Topi Saarenhovi director of its heat treatment business area.
In addition to Saarenhovi’s appointment, the company announced numerous other selections to a new and restructured management team, which Seitovirta will direct.
“The new organization and structure ensure improving profitability, readiness for a change as well as future growth,” Seitovirta says. www.glaston.net
Edgetech Acquires Nupro Products’ Assets
“We are thrilled to announce the Nupro purchase to our customers,” says Mike Hovan, president of Edgetech IG. “The initiative to purchase Nupro was driven by our unwavering 360 Value Promise to provide innovative, high-performance, turnkey solutions to our customers. The Nurpro product offerings help our customers operate more efficiently, enhance product quality and grow in our competitive marketplace.”
Edgetech intends to move production of the Nupro assets to its headquarters in Cambridge by the end of the year. Terms of the deal were not disclosed. www.edgetechig.com