Glaston officials say the company’s annual addressable equipment market growth for architectural glass processing will gradually recover from -6% in 2023 to approximately 5% during 2025−26.

Glaston Corp. has shifted its timeframe for achieving financial targets from 2025 to the medium term (three to five years). The shift in strategy comes after the company experienced a slowdown in sales in 2023. Officials say this was due to uncertainty in several markets, such as China, which has experienced a downturn in the architectural glass market.

Glaston’s board of directors estimates that the company’s overall annual addressable equipment market growth for architectural glass processing will gradually recover from -6% in 2023 to approximately 5% during 2025−26.

“During the first years of our strategy execution, the focus has been on developing and launching a competitive offering to the market, and our investments in customer-driven product development and enhancing the production capabilities are starting to pay off,” board members write in a stock exchange release. “While we continue to develop our portfolio to harness the growth potential, we will focus more on lifecycle revenue growth, using the global benefits of scale and further improving operational efficiency and profitability.”

The board adds that trends will continue to chart Glaston’s future, especially climate change and energy efficiency. They say these trends benefit the company’s insulating glass technologies. They add that the demand for more energy-efficient and environmentally sustainable glass solutions that meet safety requirements is growing.

Even as architectural glass sectors soften globally, Glaston plans to invest at levels similar to 2023. Officials say Glaston’s research and development arm totaled 4.2% of net sales.

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