~ 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 international provider of engineered supplies, in anticipation of the beforehand introduced proposed merger of the vast majority of Berry World’s Well being, Hygiene, and Specialties phase to incorporate its World Nonwovens and Movies (“HHNF”) enterprise with Glatfelter, is happy to announce at this time 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 function 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 intensive 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 progressive international supplier of specialty catalysts and providers. 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) will likely be appointed to the function 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 shifting into his present function 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 will likely be appointed to the function 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 Improvement / M&A, World Procurement, Branding & Advertising and marketing, and Sustainability capabilities. Tarun joined Berry in 2005 in an engineering function and progressed by roles in plant management, product administration, and provide chain. Previous to his present function, Tarun had P&L duties because the Government Vice President & Normal 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 company that greatest positions NewCo for fulfillment through the use of the mixed skills of each organizations. I’m very happy with the prospects of getting Kevin Fogarty’s intensive 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 data 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’ll serve the shareholders of NewCo fairly effectively,” stated 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 a significant function in working Glatfelter’s enterprise in preparation for the combination of the mixed enterprise.
Cautionary Assertion Regarding Ahead-Wanting 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 World 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 offered pursuant to the secure harbor provisions of the Personal Securities Litigation Reform Act of 1995. You possibly can determine forward-looking statements as a result of they comprise phrases corresponding to “believes,” “expects,” “could,” “will,” “ought to,” “would,” “may,” “seeks,” “roughly,” “intends,” “plans,” “estimates,” “tasks,” “outlook,” “anticipates” or “wanting ahead,” or comparable expressions that relate to technique, plans, intentions, or expectations. All statements referring to estimates and statements concerning 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 concerns, the mixed firm’s plans, targets, expectations and intentions, and different statements that aren’t historic information are forward-looking statements. As well as, senior administration of Berry and Glatfelter, sometimes could make forward-looking public statements regarding anticipated future operations and efficiency and different developments.
Precise outcomes could differ materially from these which can be anticipated on account of a wide range of components, together with with out limitation: the prevalence of any occasion, change or different circumstances that might give rise to the termination of the proposed transaction; the danger that Glatfelter shareholders could not approve the transaction proposals; the danger that the required regulatory approvals might 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 might not be glad in a well timed method; dangers that the anticipated tax therapy 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; sudden prices, expenses 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 an entirely 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 carried out; the danger that the combination of the mixed firm is harder, time consuming or pricey than anticipated; dangers associated to monetary neighborhood and ranking company perceptions of every of Berry and Glatfelter and its enterprise, operations, monetary situation and the {industry} during which they function; dangers associated to disruption of administration time from ongoing enterprise operations as a result of proposed transaction; failure to comprehend 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 clients and retain and rent key personnel and preserve relationships with their counterparties, and on their working outcomes and companies usually; and different threat components detailed sometimes in Glatfelter’s and Berry’s experiences filed with the Securities and Change Fee (“SEC”), together with annual experiences on Kind 10-Ok, quarterly experiences on Kind 10-Q, present experiences on Kind 8-Ok and different paperwork filed with the SEC. These dangers, in addition to different dangers related to the proposed transaction, will likely be extra absolutely mentioned within the registration statements, proxy assertion/prospectus and different paperwork that will likely be filed with the SEC in reference to the proposed transaction. The foregoing checklist of necessary components could not comprise the entire materials components which can be necessary to you. New components could emerge sometimes, and it isn’t doable to both predict new components or assess the potential impact of any such new components. Accordingly, readers shouldn’t place undue reliance on these statements. All forward-looking statements are based mostly upon info out there 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 because of new info, future occasions or in any other case, besides as in any other case required by legislation.
Extra Data 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 Kind 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 choice to the registration statements, proxy assertion/prospectus or another doc which Berry and/or Glatfelter could 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 out there) 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 will likely be made out there freed from cost on Berry’s investor relations web site at www.ir.berryglobal.com. Copies of paperwork filed with the SEC by Glatfelter will likely be made out there 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 during which such supply, sale or solicitation could be illegal, previous to registration or qualification underneath the securities legal guidelines of any such jurisdiction. No supply or sale of securities shall be made besides via 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 legislation.
Contributors in Solicitation
Berry and its administrators and govt officers, and Glatfelter and its administrators and govt officers, could also be deemed to be members within the solicitation of proxies from the holders of Glatfelter frequent 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 about forth underneath the caption “Safety Possession of Useful Homeowners 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 about forth underneath the caption “Safety Possession of Sure Useful Homeowners 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, will likely be appointed as Chief Government Officer, James M. Until, the present Government Vice President and Controller of Berry, will likely be appointed as Government Vice President, Chief Monetary Officer & Treasurer, and Tarun Manroa, the present Government Vice President and Chief Technique Officer of Berry, will likely be appointed as Government Vice President, Chief Working Officer, of the mixed firm. Buyers could get hold of extra info relating to the curiosity of such members by studying the proxy assertion/prospectus relating to the proposed transaction when it turns into out there.
About Berry
At Berry World Group, Inc. (NYSE: BERY), we create progressive packaging options that we imagine make life higher for individuals and the planet. We do that daily by leveraging our unmatched international capabilities, sustainability management, and deep innovation experience to serve clients of all sizes world wide. Harnessing the energy in our variety and industry-leading expertise of over 40,000 international workers throughout greater than 250 places, we accomplice with clients to develop, design, and manufacture progressive merchandise with a watch towards the round economic system. The challenges we remedy and the improvements we pioneer profit our clients at each stage of their journey. For extra info, go to our web site, or join with us on LinkedIn or Twitter. (BERY-F)
About Glatfelter
Glatfelter is a number one international provider of engineered supplies with a powerful give attention to innovation and sustainability. The Firm’s high-quality, technology-driven, progressive, and customizable nonwovens options might be present in merchandise which can be Enhancing On a regular basis Life®. These embrace private care and hygiene merchandise, meals and beverage filtration, essential cleansing merchandise, medical and private safety, packaging merchandise, in addition to house enchancment and industrial purposes. Headquartered in Charlotte, NC, the Firm’s 2023 income was $1.4 billion with roughly 2,980 workers 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 situated in the US, Canada, Germany, France, Spain, the UK, and the Philippines. The Firm has gross sales places of work in all main geographies serving clients underneath the Glatfelter and Sontara® manufacturers. Extra details about the Firm could also be discovered on our web site at www.glatfelter.com or join with us on LinkedIn.
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