Glatfelter to use borrowings under revolver to help fund acquisition

By Sarah Lizee

Olympia, Wash., June 19 – P.H. Glatfelter Co. plans to use borrowings under its existing revolving credit facility to help fund its acquisition of Georgia-Pacific’s European nonwovens business for $185 million, according to a press release.

The company said it also plans to finance the transaction with cash on hand.

Closing is expected during the fourth quarter.

Glatfelter is a York, Pa.-based manufacturer and seller of specialty papers and fiber-based engineered products.

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