Glatfelter agreed to acquire the nonwoven producer Concert Industries Corporation from Brookfield Asset Management Inc. for $235Million, expanding the specialty paper company's markets, especially in developing markets beyond the USA. Concert is one of the world's leading producers of highly absorbent and customized airlaid. The airlaid line is one of the best options in the marketplace in terms of high absorbency. The company's unique production process allows products to absorb more moisture than common cellulose, yet it is lighter, more durable and cost competitive, especially when compared to similar weight non-wovens.
Concert Industries has operations in Canada and Germany with a total
capacity of 84K tons.
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2 comments:
Great fit. I assume Wall Street happy with this buy? Good diversification, and brings Glatfelter into markets beyond America.
Smart, Very Smart. Mills like Glatfelter must find niche segments and grades that the majors like IP, Domtar, AbitibiBowater, and StoraEnso CAN NOT compete. This is for long term survival.
By the way, I thoroughly enjoy reading your daily updates on your pulp and paper blog.
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