Glatfelter To Explore Strategic Alternatives For Specialty Papers Business Unit

(RTTNews) - Glatfelter (GLT) announced plan to explore strategic alternatives for Specialty Papers Business Unit. The company said the possible outcome of the strategic review process may include, but is not limited to, the sale of the Specialty Papers business. The company has retained Credit Suisse as its financial advisor to assist in the review of strategic alternatives.

Dante Parrini, CEO, said, "Our Specialty Papers business continued to face challenging market conditions which, when coupled with operating inefficiencies, led to lower profitability during the quarter. We are encouraged by recent announcements of price increases and additional industry capacity being taken out of the market which should be constructive for the business going forward. Our focus remains on aggressively pursuing cost efficiencies and process improvements to improve profitability."