~ Kevin M. Fogarty to function Non-Government Chair of the Board of Administrators for the proposed newly mixed firm
~ James M. Until to function Government Vice President, Chief Monetary Officer & Treasurer
~ Tarun Manroa to function Government Vice President, Chief Working Officer
CHARLOTTE, N.C., April 11, 2024 (GLOBE NEWSWIRE) — Glatfelter Company (NYSE: GLT), a number one world provider of engineered supplies, in anticipation of the beforehand introduced proposed merger of nearly all of Berry International’s Well being, Hygiene, and Specialties section to incorporate its International Nonwovens and Movies (“HHNF”) enterprise with Glatfelter, is happy to announce at the moment key management appointments, along with the beforehand introduced appointment of Mr. Curt Begle, Berry’s present President of Well being, Hygiene & Specialties division, because the Chief Government Officer of the newly mixed firm (“NewCo”).
Mr. Kevin M. Fogarty will proceed to serve Glatfelter within the position of Non-Government Chair of the Board of Administrators of NewCo. Since August 2022, Kevin has served because the Non-Government Chair of Glatfelter’s Board of Administrators and has been an integral a part of Glatfelter’s enterprise since becoming a member of the Firm’s Board in 2011. Kevin has in depth management expertise having served as President, Chief Government Officer and Director of Kraton Company, Inc. till his retirement in March 2022. Additionally, Kevin presently serves as non-executive Chair of the Board of Administrators for Ecovyst Inc. (NYSE: ECVT), a number one built-in and revolutionary world supplier of specialty catalysts and companies. He’s additionally a director of OPAL Fuels, Inc. (Nasdaq: OPAL), a vertically built-in producer and distributor of renewable pure fuel.
Mr. James M. Until (Jim) can be appointed to the position of Government Vice President, Chief Monetary Officer & Treasurer for NewCo, efficient upon the closing of the proposed transaction. Jim presently serves because the Government Vice President and Controller (Principal Accounting Officer) of Berry. Jim joined Berry in 2008 as Director, Company Accounting, then progressed to Vice President, Finance & Treasury in 2010, earlier than transferring into his present position in 2014. As Government Vice President, Chief Monetary Officer & Treasurer for NewCo, Jim will oversee all finance and accounting capabilities, together with tax, treasury, and planning, and can report on to Curt Begle, CEO of NewCo.
As well as, Mr. Tarun Manroa can be appointed to the position of Government Vice President, Chief Working Officer for NewCo, efficient upon the closing of the proposed transaction. Tarun presently serves because the Government Vice President and Chief Technique Officer for Berry the place he leads the Company Growth / M&A, International Procurement, Branding & Advertising, and Sustainability capabilities. Tarun joined Berry in 2005 in an engineering position and progressed by roles in plant management, product administration, and provide chain. Previous to his present position, Tarun had P&L obligations because the Government Vice President & Common Supervisor for Berry’s Engineered Supplies Division.
“In the present day’s announcement is the primary of a number of key management appointments because the Board of Administrators of Berry and Glatfelter, together with Glatfelter’s CEO, Thomas Fahnemann, and I proceed to collaborate on designing a corporation that finest positions NewCo for fulfillment through the use of the mixed skills of each organizations. I’m more than happy with the prospects of getting Kevin Fogarty’s in depth and steadfast management expertise on the helm of NewCo’s Board of Administrators. Additionally, I’m grateful that Jim and Tarun have accepted management roles in NewCo as I extremely worth them for his or her excellent management abilities and deep information of Berry’s HHNF enterprise. I’ve personally labored with each Jim and Tarun throughout our mixed tenures at Berry and have faith that they are going to serve the shareholders of NewCo fairly nicely,” mentioned Mr. Curt Begle, President of Berry’s Well being, Hygiene & Specialties division and incoming CEO of NewCo.
Mr. Ramesh Shettigar, Glatfelter’s present Senior Vice President, Chief Monetary Officer & Treasurer, together with Mr. Boris Illetschko, Glatfelter’s Senior Vice President, Chief Working Officer, will proceed of their respective roles till the consummation of the proposed transaction. Each Mr. Shettigar and Mr. Illetschko will play an important position in working Glatfelter’s enterprise in preparation for the combination of the mixed enterprise.
Cautionary Assertion Regarding Ahead-Trying Statements
Statements on this launch that aren’t historic, together with statements referring to the anticipated timing, completion and results of the proposed transaction between Berry International Group, Inc., a Delaware company (“Berry”), and Glatfelter Company, a Pennsylvania company (“Glatfelter” or the “Firm”), are thought of “forward-looking” throughout the that means of the federal securities legal guidelines and are introduced pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. You may determine forward-looking statements as a result of they comprise phrases comparable to “believes,” “expects,” “might,” “will,” “ought to,” “would,” “may,” “seeks,” “roughly,” “intends,” “plans,” “estimates,” “initiatives,” “outlook,” “anticipates” or “wanting ahead,” or related expressions that relate to technique, plans, intentions, or expectations. All statements referring to estimates and statements in regards to the anticipated timing and construction of the proposed transaction, the power of the events to finish the proposed transaction, advantages of the transaction, together with future monetary and working outcomes, govt and Board transition issues, the mixed firm’s plans, aims, expectations and intentions, and different statements that aren’t historic details are forward-looking statements. As well as, senior administration of Berry and Glatfelter, every so often might make forward-looking public statements regarding anticipated future operations and efficiency and different developments.
Precise outcomes might differ materially from these which are anticipated as a consequence of a wide range of elements, together with with out limitation: the incidence of any occasion, change or different circumstances that might give rise to the termination of the proposed transaction; the chance that Glatfelter shareholders might not approve the transaction proposals; the chance that the mandatory regulatory approvals will not be obtained or could also be obtained topic to situations that aren’t anticipated or could also be delayed; dangers that any of the opposite closing situations to the proposed transaction will not be glad in a well timed method; dangers that the anticipated tax remedy of the proposed transaction shouldn’t be obtained; dangers associated to potential litigation introduced in reference to the proposed transaction; uncertainties as to the timing of the consummation of the proposed transaction; surprising prices, costs or bills ensuing from the proposed transaction; dangers and prices associated to the implementation of the separation of the enterprise, operations and actions that represent the worldwide nonwovens and hygiene movies enterprise of Berry (the “HHNF Enterprise”) into Treasure Holdco, Inc., a Delaware company and a completely owned subsidiary of Berry (“Spinco”), together with timing anticipated to finish the separation; any modifications to the configuration of the companies included within the separation if applied; the chance that the combination of the mixed firm is tougher, time consuming or pricey than anticipated; dangers associated to monetary group and score company perceptions of every of Berry and Glatfelter and its enterprise, operations, monetary situation and the {industry} by which they function; dangers associated to disruption of administration time from ongoing enterprise operations as a result of proposed transaction; failure to understand the advantages anticipated from the proposed transaction; results of the announcement, pendency or completion of the proposed transaction on the power of the events to retain prospects and retain and rent key personnel and keep relationships with their counterparties, and on their working outcomes and companies typically; and different danger elements detailed every so often in Glatfelter’s and Berry’s studies filed with the Securities and Change Fee (“SEC”), together with annual studies on Type 10-Ok, quarterly studies on Type 10-Q, present studies on Type 8-Ok and different paperwork filed with the SEC. These dangers, in addition to different dangers related to the proposed transaction, can be extra absolutely mentioned within the registration statements, proxy assertion/prospectus and different paperwork that can be filed with the SEC in reference to the proposed transaction. The foregoing listing of essential elements might not comprise the entire materials elements which are essential to you. New elements might emerge every so often, and it’s not doable to both predict new elements or assess the potential impact of any such new elements. Accordingly, readers shouldn’t place undue reliance on these statements. All forward-looking statements are primarily based upon info obtainable as of the date hereof. All forward-looking statements are made solely as of the date hereof and neither Berry nor Glatfelter undertake any obligation to replace or revise any forward-looking assertion on account of new info, future occasions or in any other case, besides as in any other case required by regulation.
Further Info and The place to Discover It
This communication could also be deemed to be solicitation materials in respect of the proposed transaction between Berry and Glatfelter. In reference to the proposed transaction, Berry and Glatfelter intend to file related supplies with the SEC, together with a registration assertion on Type S-4 by Glatfelter that can comprise a proxy assertion/prospectus referring to the proposed transaction. As well as, Spinco expects to file a registration assertion in reference to its separation from Berry. This communication shouldn’t be an alternative to the registration statements, proxy assertion/prospectus or some other doc which Berry and/or Glatfelter might file with the SEC. STOCKHOLDERS OF BERRY AND GLATFELTER ARE URGED TO READ ALL RELEVANT DOCUMENTS FILED WITH THE SEC, INCLUDING THE REGISTRATION STATEMENT AND PROXY STATEMENT/PROSPECTUS, BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION. Buyers and safety holders will be capable of get hold of copies of the registration statements and proxy assertion/prospectus (when obtainable) in addition to different filings containing details about Berry and Glatfelter, in addition to Spinco, with out cost, on the SEC’s web site, www.sec.gov. Copies of paperwork filed with the SEC by Berry or Spinco can be made obtainable freed from cost on Berry’s investor relations web site at www.ir.berryglobal.com. Copies of paperwork filed with the SEC by Glatfelter can be made obtainable freed from cost on Glatfelter’s investor relations web site at www.glatfelter.com/buyers.
No Supply or Solicitation
This communication is for informational functions solely and isn’t meant to and doesn’t represent a suggestion to promote, or the solicitation of a suggestion to promote, subscribe for or purchase, or a solicitation of any vote or approval in any jurisdiction, nor shall there be any sale, issuance or switch of securities in any jurisdiction by which such supply, sale or solicitation could be illegal, previous to registration or qualification beneath the securities legal guidelines of any such jurisdiction. No supply or sale of securities shall be made besides by the use of a prospectus assembly the necessities of Part 10 of the Securities Act of 1933, as amended, and in any other case in accordance with relevant regulation.
Members in Solicitation
Berry and its administrators and govt officers, and Glatfelter and its administrators and govt officers, could also be deemed to be individuals within the solicitation of proxies from the holders of Glatfelter widespread inventory and/or the providing of securities in respect of the proposed transaction. Details about the administrators and govt officers of Berry, together with an outline of their direct or oblique pursuits, by safety holdings or in any other case, is ready forth beneath the caption “Safety Possession of Useful House owners and Administration” within the definitive proxy assertion for Berry’s 2024 Annual Assembly of Stockholders, which was filed with the SEC on January 4, 2024 (www.sec.gov/ixviewer/ix.html?doc=/Archives/edgar/knowledge/0001378992/000110465924001073/tm2325571d6_def14a.htm). Details about the administrators and govt officers of Glatfelter together with an outline of their direct or oblique pursuits, by safety holdings or in any other case, is ready forth beneath the caption “Safety Possession of Sure Useful House owners and Administration” within the proxy assertion for Glatfelter’s 2024 Annual Assembly of Shareholders, which was filed with the SEC on March 26, 2024 (www.sec.gov/ix?doc=/Archives/edgar/knowledge/0000041719/000004171924000013/glt-20240322.htm). As well as, Curt Begle, the present President of Berry’s Well being, Hygiene & Specialties Division, can be appointed as Chief Government Officer, James M. Until, the present Government Vice President and Controller of Berry, can be appointed as Government Vice President, Chief Monetary Officer & Treasurer, and Tarun Manroa, the present Government Vice President and Chief Technique Officer of Berry, can be appointed as Government Vice President, Chief Working Officer, of the mixed firm. Buyers might get hold of further info concerning the curiosity of such individuals by studying the proxy assertion/prospectus concerning the proposed transaction when it turns into obtainable.
About Berry
At Berry International Group, Inc. (NYSE: BERY), we create revolutionary packaging options that we imagine make life higher for folks and the planet. We do that every single day by leveraging our unmatched world capabilities, sustainability management, and deep innovation experience to serve prospects of all sizes around the globe. Harnessing the power in our variety and industry-leading expertise of over 40,000 world staff throughout greater than 250 areas, we accomplice with prospects to develop, design, and manufacture revolutionary merchandise with an eye fixed towards the round financial system. The challenges we clear up and the improvements we pioneer profit our prospects at each stage of their journey. For extra info, go to our website, or join with us on LinkedIn or Twitter. (BERY-F)
About Glatfelter
Glatfelter is a number one world provider of engineered supplies with a powerful deal with innovation and sustainability. The Firm’s high-quality, technology-driven, revolutionary, and customizable nonwovens options could be present in merchandise which are Enhancing On a regular basis Life®. These embody private care and hygiene merchandise, meals and beverage filtration, crucial cleansing merchandise, medical and private safety, packaging merchandise, in addition to house enchancment and industrial functions. Headquartered in Charlotte, NC, the Firm’s 2023 income was $1.4 billion with roughly 2,980 staff worldwide. Glatfelter’s operations make the most of a wide range of manufacturing applied sciences together with airlaid, wetlaid and spunlace with fifteen manufacturing websites positioned in america, Canada, Germany, France, Spain, the UK, and the Philippines. The Firm has gross sales places of work in all main geographies serving prospects beneath the Glatfelter and Sontara® manufacturers. Further details about the Firm could also be discovered on our web site at www.glatfelter.com or join with us on LinkedIn.
The publish Glatfelter Declares Key Management Appointments in Connection With Proposed Merger With Berry’s Well being, Hygiene, and Specialties International Nonwovens and Movies Enterprise appeared first on FinanceGrabber.