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Headquartered in York, Pennsylvania, Glatfelter Corporation (NYSE: GLT) is a global leader in the manufacturing of specialty papers and engineered products. With over 150 years of experience, Glatfelter provides innovative, high-quality solutions that drive value for customers worldwide. The company operates through three primary segments: Composite Fibers, Spunlace, and Airlaid Materials.
Glatfelter’s Composite Fibers segment offers a diverse range of products including food and beverage filtration papers, wallcover base materials, and composite laminates. The Spunlace segment produces nonwoven fabrics used in critical cleaning, medical, and hygiene applications. The company’s Airlaid Materials segment, which generates the majority of its revenue, supplies cellulose-based airlaid nonwoven materials used in consumer products like feminine hygiene items, specialty wipes, and home care products.
The company boasts a strong global presence, with facilities in the United States, Germany, France, the UK, Canada, and several other countries. This extensive network supports Glatfelter’s commitment to delivering world-class service and technical expertise to over 4,400 employees worldwide.
Recently, Glatfelter has been executing a Turnaround Strategy to enhance operational and financial performance. This strategy has led to improved EBITDA margins and stronger production across its segments. Despite challenging market conditions, especially in Europe, the company continues to focus on cost management and innovation to drive growth and productivity.
Additionally, Glatfelter has reinforced its environmental responsibility through sustainable practices across its operations. The company’s dedication to environmental stewardship is evident in its approach to manufacturing and product development.
In a significant development, Glatfelter announced a strategic merger with Berry Global’s Health, Hygiene, and Specialties Global Nonwovens and Films business. This merger is expected to create a new global leader in specialty materials, enhancing scale, technology, and market reach, thereby positioning Glatfelter for substantial shareholder value and long-term growth.
Glatfelter’s commitment to quality, sustainability, and innovation continues to make it a pivotal player in the engineered materials industry, driving advancements that enhance everyday life.
Glatfelter (NYSE: GLT) reported Q3 2024 financial results, marking its final earnings release before merging with Berry Global's Health, Hygiene and Specialties segment. The company generated net sales of $332 million and posted a GAAP net loss from continuing operations of $20.0 million. Adjusted EBITDA was $24.6 million, slightly down from $25.5 million in Q3 2023. Segment performance showed mixed results: Spunlace EBITDA increased to $4.8 million, Airlaid Materials achieved $18.0 million EBITDA, while Composite Fibers delivered $10.1 million EBITDA. The transaction with Berry Global is scheduled to close on November 4th, creating Magnera.
Glatfelter (NYSE: GLT) shareholders have approved all proposals related to the merger with Berry Global Group's (NYSE: BERY) Health, Hygiene and Specialties Global Nonwovens and Films business. The transaction is expected to close on November 4, 2024. In connection with the merger, Glatfelter will implement a 1-for-13 reverse stock split and change its name to Magnera . The reverse split will become effective on November 4, 2024, affecting all issued and outstanding shares, with no fractional shares to be issued. Trading will continue on NYSE under a new CUSIP number.
Glatfelter (NYSE: GLT) shareholders have approved all matters related to the merger with Berry's Health, Hygiene and Specialties Global Nonwovens and Films business. The transaction is expected to close on November 4, 2024. In connection with the merger, Glatfelter will implement a 1-for-13 reverse stock split and change its name to Magnera . The reverse split will affect all issued and outstanding shares, with trading under the new structure beginning November 4, 2024. No fractional shares will be issued, and Computershare Trust Company will handle the exchange process.
Berry Global Group and Glatfelter have announced key details for the spin-off of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF) and its subsequent merger with Glatfelter. The transaction is set to complete on November 4, 2024, with November 1, 2024, as the record date. Post-merger, Berry stockholders will own approximately 90% of the newly formed Magnera , while current Glatfelter shareholders will own about 10%. The shares will trade with due-bills through the closing date, and regular-way trading of Magnera common stock is expected to begin on November 5, 2024.
Berry Global Group has set November 1, 2024, as the record date for the spin-off of its Health, Hygiene and Specialties Global Nonwovens and Films business (HHNF), which will merge with Glatfelter on November 4, 2024. The merged entity will be renamed Magnera . Berry stockholders will own approximately 90% of Magnera, while Glatfelter shareholders will own about 10%. Based on current figures, Berry stockholders would receive approximately 0.24 shares of Magnera for each Berry share, assuming a 1-for-15 reverse stock split. Trading with due-bills will occur from November 1-4, 2024, with ex-distribution trading beginning November 5, 2024.
Berry Global Group and Glatfelter announced the pricing of an upsized $800 million senior secured notes offering due 2031 by Berry's subsidiary, Treasure Escrow The notes, bearing 7.250% interest, are part of the previously announced merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter in a Reverse Morris Trust transaction. The combined company will be renamed Magnera .
The offering, expected to close around October 25, 2024, will fund a cash distribution to Berry Global, Inc., repay Glatfelter's existing debt, and cover transaction fees. The notes will be secured by various assets and will rank pari passu with Magnera's new term loan facility and Glatfelter's existing senior notes. The offering is to qualified institutional buyers and non-U.S. investors.
Berry Global Group and Glatfelter announced the pricing of an upsized $800 million senior secured notes offering due 2031 by Berry's subsidiary, Treasure Escrow This offering is related to the previously announced merger of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter in a Reverse Morris Trust transaction. The combined company will be renamed Magnera .
The notes, bearing a 7.250% interest rate, will be assumed by Magnera upon closing. Proceeds will fund a cash distribution to Berry Global, Inc., repay Glatfelter's existing debt, and cover transaction fees. The notes will be secured by various assets and rank pari passu with Magnera's new term loan facility and Glatfelter's existing senior notes. The offering is expected to close around October 25, 2024, subject to conditions.
Berry Global Group and Glatfelter have announced that Berry's subsidiary, Treasure Escrow , plans to issue $500 million of senior secured notes due 2031. The proceeds will fund part of the cash distribution to Berry Global, Inc. for the combination of Berry's Health, Hygiene and Specialties Global Nonwovens and Films business with Glatfelter in a Reverse Morris Trust transaction. The combined company will be renamed Magnera .
The notes will replace the same amount of debt previously intended for Spinco's new credit facilities and will be assumed by Magnera upon closing. If the transaction doesn't close concurrently with the offering, proceeds will be held in escrow. The notes are being offered only to qualified institutional buyers and non-U.S. investors, and have not been registered under the Securities Act.
Glatfelter (NYSE: GLT) has unveiled its OmniSep™ Battery Separator, a groundbreaking solution for the lithium-ion battery market. This innovative product supports high charge and discharge rates (up to 16C pulse discharge), enhances safety, and offers customizable features for various battery chemistries. Fully manufactured in the United States, OmniSep™ boasts high porosity for increased ionic conductivity and fast charging capabilities.
The separator's pore size can be adjusted to increase shelf-life, and various polymers can be used to meet specific temperature and safety requirements. Standard grades are thermally stable up to 150ºC, with developmental grades reaching 200ºC, eliminating the need for ceramic coatings. OmniSep™'s advanced fiber design enhances hydrophilicity, promoting fast wet-out and filling, lower ionic resistance, and suitability for aqueous systems.
Glatfelter (NYSE: GLT) has announced significant advancements in sustainable materials for espresso pod lids, addressing the growing demand for eco-friendly packaging in the single-serve coffee market. The company has developed a new biobased espresso lid material that outperforms alternatives like PLA and PHA in meeting essential requirements such as oxygen and moisture barriers, equipment compatibility, and home compostability.
This innovation allows for the entire espresso pod to be composted at home when paired with a compatible capsule, aligning with the European Commission's Proposal for Packaging and Packaging Waste Regulation (PPWR). Glatfelter's expertise in manufacturing and material science, combined with insights into the coffee market, enables the development of consumer-friendly and environmentally responsible solutions compatible with both polymer and cellulose-based capsules.
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