Glatfelter changingoperating model,key leadership

York, PA-based Glatfelter, a supplier of engineered materials,is launching the next steps in its strategic transformationfrom a business unit structure to a functional operatingmodel.

“We have laid the foundation for reshaping our businessthrough a number of actions in 2018, including the first shipment of commercial products from our new state-of-the-artairlaid facility in Fort Smith, AR, acquiring Georgia-Pacific’sEuropean non-wovens business in Steinfurt, Germany andcompleting of the sale of the Specialty Papers business. Weare now accelerating the next phase of our strategic transformation to leverage our core competencies in engineered materials for maximizing growth opportunities and value forour shareholders,” said Dante C. Parrini, chairman and CEO.

As part of this effort, function-specific work-streams willfully identify the value and opportunities of moving to afunctional operating model. Based on the work completed todate, the company remains confident it can achieve the previously-announced expected corporate cost savings of $14million to $16 million by the end of 2019. Potential incremental savings and improving over-all business performancewill be the focus of the work-stream groups. The companyexpects to complete the work this summer when it will provide details around total expected benefits and implementation costs.

www.glatfelter.com

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