{"id":6427,"date":"2010-02-23T00:00:00","date_gmt":"2010-02-23T00:00:00","guid":{"rendered":"http:\/\/network.napco.com\/print-and-promo\/article\/glatfelter-completes-acquisition-concert-industries-corp\/"},"modified":"2015-07-30T11:12:36","modified_gmt":"2015-07-30T11:12:36","slug":"glatfelter-completes-acquisition-concert-industries-corp","status":"publish","type":"article","link":"https:\/\/network.napco.com\/print-and-promo\/article\/glatfelter-completes-acquisition-concert-industries-corp\/","title":{"rendered":"Glatfelter Completes Acquisition of Concert Industries Corp."},"content":{"rendered":"<p>York, Pennsylvania-based <strong>Glatfelter<\/strong> announced it has completed its previously announced acquisition of <strong>Concert Industries Corp.<\/strong> from Brookfield Special Situations Management Limited, an affiliate of Brookfield Asset Management, for Canadian $246.5 million (U.S. $235 million) subject to a post-closing working capital adjustment.<\/p>\n<p>Concert is a leading global supplier of highly absorbent cellulose-based airlaid non-woven materials, used to manufacture a diverse range of consumer and industrial products for growing global end-use markets, including feminine hygiene and adult incontinence products, specialty wipes and food pads. Approximately 80 percent of Concert&#8217;s sales come from the feminine hygiene market, which is expected to grow at a compound annual rate of approximately 5 percent for the next four years.<\/p>\n<p>Glatfelter financed the acquisition through a combination of cash on hand, proceeds from the 7-1\/8 percent unsecured senior notes issued on Feb. 5, 2010 and borrowings under its existing revolving credit agreement.<\/p>\n<p>Glatfelter will operate Concert as a third business unit along with its Specialty Papers and Composite Fibers business units. <\/p>\n<p>&#8220;We are thrilled to add to the Glatfelter family of products another industry-leading global business that sells highly specialized, engineered fiber-based products to niche markets,&#8221; said George H. Glatfelter II, chairman and chief executive officer. &#8220;This acquisition combines the strengths of two highly regarded specialty producers and will build upon our respective relationships with premier global consumer products companies.&#8221;<\/p>\n<p>These statements are based on management&#8217;s current expectations and are subject to numerous risks, uncertainties and other unpredictable or uncontrollable factors which may cause actual results or performance to differ materially from the company&#8217;s expectations.<\/p>\n<p>For more information, visit <a href=\"http:\/\/www.glatfelter.com\" target=\"_blank\">www.glatfelter.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>York, Pennsylvania-based <strong>Glatfelter<\/strong> announced it has completed its previously announced acquisition of <strong>Concert Industries Corp.<\/strong> from Brookfield Special Situations Management Limited, an affiliate of Brookfield Asset Management, for Canadian $246.5 million (U.S. $235 million) subject to a post-closing working capital adjustment.<\/p>\n","protected":false},"author":123,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","coauthors":[29487],"class_list":["post-6427","article","type-article","status-publish","hentry","tag-acquisition","tag-announced-acquisition","tag-capital-adjustment","tag-concert-industries","tag-consumer-products-companies","tag-feminine-hygiene","tag-global-consumer-products","tag-hygiene","company-glatfelter-paper","person-george-h-glatfelter-ii","location-u-s","location-york-pennsylvania"],"_links":{"self":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/article\/6427","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/article"}],"about":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/types\/article"}],"author":[{"embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/users\/123"}],"replies":[{"embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/comments?post=6427"}],"wp:attachment":[{"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/media?parent=6427"}],"wp:term":[{"taxonomy":"author","embeddable":true,"href":"https:\/\/network.napco.com\/print-and-promo\/wp-json\/wp\/v2\/coauthors?post=6427"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}