Glatfelter to build new facility
Glatfelter will invest approximately USD 80 million to build a new production facility in the United States for its advanced airlaid materials business.
“Our plan to build this new facility is in direct response to customer needs for increased capacity in a tightening North American airlaid market, said Dante C Parrini, Chairman and Chief Executive Officer.
The new facility is expected to have an annual capacity of approximately 22 000 short tons, increasing the Company's total global airlaid materials capacity to approximately 129 000 short tons. In support of market growth, the investment is supported by customer commitment to purchase a significant amount of the annual capacity.
In addition, the new facility will establish a specialty asset base in the United States and create a center of excellence for other lighter basis weight products. The Company anticipates production will start in approximately two years and the project will be funded by a combination of cash on hand and its existing credit facility.