Breaking News

Glatfelter-Crompton Deal Dies

June 15, 2006

Glatfelter's bid to buy J.R. Crompton’s Simson Clough, U.K. mill in a $21.7 million transaction has reportedly died; however a deal on a second mill is moving forward. The Simpson Clough Mill was one of two the Glatfelter had been slated to buy from the Manchester,

U.K.-based J.R. Crompton, a global supplier of wetlaid nonwoven products. Glatfelter's interest in the U.K. mills is in sync with its efforts to grow its wetlaid business and ultimately become a major global supplier of specialty papers and engineered products.

The company's announcement in March that it would acquire the English mills came two weeks after agreements to buy a carbonless and specialty papers business of Dayton, Ohio for $80 million. The Ohio acquisition alone was projected to double Glatfelter's  annual revenue and employee number.

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