Glatfelter

Glatfelter
Public
Traded as NYSE: GLT
S&P 600 Component
Industry Paper
Founded 1864
Headquarters York, Pennsylvania, U.S.
Key people
 Dante C. Parrini (CEO)
Timothy R. Hess
Revenue Increase US$1.19 Billion (FY 2009)[1]
Increase US$163 Million (FY 2009)[1]
Increase US$123 Million (FY 2009)[1]
Total assets Increase US$1.19 Billion (FY 2009)[1]
Total equity Increase US$510 Million (FY 2009)[1]
Number of employees
 4,200
Website www.glatfelter.com

Glatfelter is a global manufacturer of specialty papers and engineered products, headquartered in York, Pennsylvania. U.S. operations include papermaking facilities in Spring Grove, Pennsylvania; and Chillicothe and Fremont, Ohio; as well as woodyard operations in Washington, West Virginia; Piketon, Ohio; and Delmar, Maryland. International operations include facilities in Germany, France, UK, Canada, the Philippines and representative offices in China and Russia.

The company was started by Philip Henry Glatfelter in 1864. As of 2010, Glatfelter’s sales exceeded $1.4 billion annually,[2] and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Glatfelter and its subsidiaries employ more than 4,200 people worldwide.

History

  • As early as 1880, Glatfelter led the industry with the installation of the world’s largest paper machine.[3]
  • Glatfelter switched to making paper using wood fiber instead of rags in the 1880s.
  • In 1934, Glatfelter began its forestry management initiative, encouraging farmers to plant more trees and prevent soil erosion.
  • In 1947, Glatfelter launched a tree farm managed for the growing of sustainable forest crops in Pennsylvania and Maryland.
  • Glatfelter’s previous President and CEO, George Henry Glatfelter II, is the great-great grandson of the founder, Philip Henry Glatfelter (1837–1907), who also founded York Ice Company, which became York Heating and Air Conditioning.[4]
  • Glatfelter's work with sustainable tea packaging was highlighted in the September 2009 issue of the Tea & Coffee Trade Journal.[5]
  • In August 2018, Glatfelder announced an agreement to sell its Specialty Papers division to private investment firm Lindsay Goldberg for $360 million, with the sale to close before 2019.[6]

Environmental Concerns

In 2016, Glatfelter's Spring Grove paper mill was listed among the top 1% of toxic air pollution sources in the United States, according to the U.S. Environmental Protection Agency, ranking 160 out 15,461 sites evaluated.[7] The Pennsylvania Department of Environmental Protection cited the company for two significant violations since 2013, and the company has been federally cited for significant violations of the Clean Air Act. In response to these violations and subsequent press coverage, a Glatfelter representative stated to the York Daily Record that the company maintains a commitment to improving its environmental performance.

Products

References

  1. 1 2 3 4 5 http://www.glatfelter.com/Files/about_us/investor_relations/2009_Annual_Report.pdf
  2. ↑ http://www.glatfelter.com/Files/about_us/investor_relations/2010_Q1_Earnings_Release.pdf
  3. ↑ Lipper, Mark (1980). Paper, People, Progress: The Story of the P.H. Glatfelter Company of Spring Grove, Pennsylvania. Englewood Cliffs, NJ: Prentice-Hall. p. 37. ISBN 0-13-648451-4.
  4. ↑ "Glatfelter, book papers, specialty papers, engineered paper products home". Glatfelter.com. Retrieved 2015-10-31.
  5. ↑ "Tea Packaging for Impact and Sustainability" by Katrina Ávila Munichiello, Tea & Coffee Trade Journal.
  6. ↑ Morrow, Geoff (August 22, 2018). "Glatfelter paper announces agreement to sell, promises no plans to close mills". York Daily Record. USA Today Network. Retrieved August 22, 2018.
  7. ↑ "Glatfelter among nation's worst air polluters". The York Daily Record. Retrieved 2017-11-28.
  • Benway, Stuart. "Glatfelter's Paper Discount". Business Week. Archived from the original on 2012-11-07. Retrieved 28 July 2010.
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