Glatfelter Announces Sale of Ober-Schmitten, Germany Facility
15 Agosto 2023 - 5:55AM
Glatfelter Corporation (NYSE: GLT), a leading global supplier of
engineered materials, today announced the sale of Glatfelter
Ober-Schmitten GmbH and certain related distributor operations in
Asia to Ostrest GmbH, a company owned by İlkem Şahin, the chairman
of the board of İŞ Holding A.Ş.
“I am very pleased that Glatfelter’s
Ober-Schmitten site, along with its related sales and distribution
in Suzhou, China and Hong Kong, will continue to operate and
service the glassine and electrical markets under the new ownership
of İŞ Holding. While today’s announcement is a departure from our
previously announced plan to close Ober-Schmitten, the sale of this
business is a great outcome for all stakeholders, including the
employees who service the customers in these markets,” said Mr.
Thomas Fahnemann, President and Chief Executive Officer.
“İlkem Şahin is the chairman of the board of the
family-owned and operated İŞ Holding A.Ş., a well-established
enterprise with a 70-year history rooted in rich values that
operates with an entrepreneurial, results-oriented spirit,”
continued Mr. Fahnemann. “I am confident their culture and way of
doing business will play an important role in building the future
success for Ober-Schmitten. By completing this sale with an
immediate effective date, Glatfelter will mitigate any anticipated
costs associated with closing the Ober-Schmitten site as
communicated during our second quarter earnings release.”
Mr. İlkem Şahin, Chairman, IS Holding A.S. said,
“With the specialty paper factory in Nidda, we are pleased to
support the community and to be able to positively contribute to
the over two hundred years of paper production tradition in Ober-
Schmitten. The acquisition fits well into the portfolio of İŞ
Holding, which thus further expands its activities in Germany. İŞ
Holding sees a good perspective for the continuation of the site.
Together with the site management, all employees, as well as the
committees of the city of Nidda, a sustainable concept for the
future will be developed and implemented in the coming weeks.”
Caution
Concerning Forward-Looking
StatementsAny statements included in this press
release that pertain to future financial and business matters are
“forward-looking statements” within the meaning of the safe harbor
provisions of the United States Private Securities Litigation
Reform Act of 1995. The Company uses words such as “anticipates”,
“believes”, “expects”, “future”, “intends”, “plans”, “targets”, and
similar expressions to identify forward-looking statements. Any
such statements, including those related to the impact of the sale
on the previously announced costs associated with the closing the
Ober-Schmitten site, are based on the Company’s current
expectations and are subject to numerous risks, uncertainties and
other unpredictable or uncontrollable factors that could cause
future results to differ materially from those expressed in the
forward-looking statements. The risks, uncertainties and other
unpredictable or uncontrollable factors are described in the
Company’s filings with the U.S. Securities and Exchange Commission
(“SEC”) in the Risk Factors section and under the heading
“Forward-Looking Statements” in the Company’s most recently filed
Annual Report on Form 10-K and Quarterly Report on Form 10-Q, which
are available on the SEC’s website at www.sec.gov. In light of
these risks, uncertainties and other factors, the forward-looking
matters discussed in this press release may not occur and readers
are cautioned not to place undue reliance on these forward-looking
statements. The forward-looking statements speak only as of the
date of this press release and the Company undertakes no
obligation, and does not intend, to update these forward-looking
statements to reflect events or circumstances occurring after the
date of this press release.
About
GlatfelterGlatfelter is a leading global supplier
of engineered materials with a strong focus on innovation and
sustainability. The Company’s high quality, technology-driven,
innovative, and customizable nonwovens solutions can be found in
products that are Enhancing Everyday Life®. These include personal
care and hygiene products, food and beverage filtration, critical
cleaning products, medical and personal protection, packaging
products, as well as home improvement and industrial applications.
Headquartered in Charlotte, NC, the Company’s 2022 net sales were
$1.5 billion. As of December 31, 2022, we employed approximately
3,250 employees worldwide. Glatfelter’s operations utilize a
variety of manufacturing technologies including airlaid, wetlaid
and spunlace with fifteen manufacturing sites located in the United
States, Canada, Germany, the United Kingdom, France, Spain, and the
Philippines. The Company has sales offices in all major geographies
serving customers under the Glatfelter and Sontara® brands.
Additional information about Glatfelter may be found at
www.glatfelter.com.
About İŞ HoldingİŞ Holding has
more than twenty subsidiaries in a variety of sectors such as QSR,
logistics, packaged snacks and food, agriculture, textile, energy,
construction, IT, media and manufacturing of durable goods and
employs more than 15,000 employees. İŞ Holding has been active
since the 1950s, starting as a family business in textile and today
stands as a driving force of the Turkish economy with its mission
of being a multinational and entrepreneurial group through its
partnerships with leading brands and companies of the world. İŞ
Holding strives to produce value in a sustainable manner and
consistently achieves a rapid and healthy growth through its
commitment to a culture of partnership with global brands and
international companies.
Contacts: |
|
Investors: |
Media: |
Ramesh Shettigar |
Eileen L. Beck |
(717) 225-2746 |
(717) 225-2793 |
ramesh.shettigar@glatfelter.com |
eileen.beck@glatfelter.com |
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