YORK, Pa.--(BUSINESS WIRE)--
Glatfelter (NYSE: GLT) announced today that in 2017 it will complete a three-year targeted investment program at its Ober-Schmitten facility that upgrades production capabilities to continue to meet highest market requirements for the electrical and glassine paper markets.
Glatfelter Ober-Schmitten is located near Frankfurt am Main, Germany. Its production competencies include sophisticated technical papers for a wide range of electrical applications including capacitors used in consumer and industrial products; insulation papers for cables and transformers; materials for industrial power inverters; electromagnetic current filters; and electric rail traction.
Ober-Schmitten’s glassine products are manufactured from the purest cellulose attained from sustainable forestry. The product is fully recyclable and compostable, and offers quality transparency and high grease resistance from mechanical processing, not chemical treatment. Furthermore, the product is approved for food, which makes it optimal for the use in cosmetics packaging, food packaging, and pharmaceutical dosage bags. The Pergamyn ECHO color portfolio is recognized for its wide range of different colors unmatched by any other producer. Pergamyn ECHO Window is seen as a benchmark in terms of transparency and widely approved by many postal service companies. Glatfelter is fully committed to these markets and will continue to produce products within the premium quality segment.
“The most important focus for Ober-Schmitten remains outstanding quality and continued customer satisfaction,” said Mattis Gosmann, Vice President of Sales and Marketing for the Composite Fibers Business Unit. Furthermore, he added, “The facility will fully leverage Glatfelter’s relationship with Dreamweaver International, an advanced technology company with competencies and intellectual property for electrical products.”
Outstanding novel properties on the Dreamweaver International product range have recently been recognized by INDEX, the world’s leading nonwovens exhibition. The Dreamweaver Gold 20™ product has been nominated for an INDEX Award in the category of “finished or composite products made from, or incorporating nonwovens”. Final results will be made public at the INDEX17 trade show in Geneva, Switzerland in April 2017.
The continued ambition to be the recognized leader for product quality, consistency, and superior customer support are key drivers in Glatfelter’s commercial strategies. Through these key drivers, Glatfelter continues on the path of enhancing everyday life.
Caution Concerning Forward-Looking Statements
Any statements included in this press release which 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”, and similar expressions to identify forward-looking statements. Any such statements 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 including, but not limited to: changes in industry, business, market, political and economic conditions in the U.S. and other countries in which the Company does business, demand for or pricing of its products, changes in the cost to construct the new airlaid facility and the availability and costs of a qualified workforce, changes in tax legislation, governmental laws, regulations and policies, initiatives of regulatory authorities, technological changes and innovations, and market growth rates. 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 Glatfelter 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. More information about these factors is contained in Glatfelter’s filings with the U.S. Securities and Exchange Commission, which are available at www.glatfelter.com.
About Glatfelter
Glatfelter is a global supplier of specialty papers and fiber-based engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Headquartered in York, PA, the company employs over 4,300 people and serves customers in over 100 countries. U.S. operations include facilities in Pennsylvania and Ohio. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, and sales and distribution offices in China and Russia. Glatfelter’s sales approximate $1.6 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information may be found at www.glatfelter.com.
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