WestRock Company announced today that it has successfully completed the separation of its specialty chemicals business, Ingevity Corporation, as an independent public company whose shares are listed on the New York Stock Exchange (NYSE) under the symbol “NGVT”. Under the terms of the separation, WestRock stockholders received one share of Ingevity common stock for every six common shares of WestRock stock held as of the close of business on May 4, 2016. WestRock stockholders received cash in lieu of fractional NGVT shares.
Glatfelter (NYSE: GLT), a global manufacturer of specialty papers and fiber-based engineered materials, today announced the company is locating a new manufacturing facility in Fort Smith, Arkansas, subject to the approval of the Fort Smith Board of Directors and closing on the purchase of the former Mitsubishi Power Systems building located in Chaffee Crossing.
Glatfelter will create up to 83 highly-skilled manufacturing jobs at the new facility with a total capital investment of approximately $80 million.
Glatfelter’s new Fort Smith facility will supply products to a variety of customers, including those who support the broader wipes and hygiene markets.
“We are truly excited to partner with the people of Fort Smith and Arkansas because we know that investing here makes great business sense for our company,” said Chris Astley, president of Glatfelter’s Advanced Airlaid Materials Business Unit and a senior vice president of Glatfelter. “Locating here benefits our business in a number of ways. It will enable us to expand our capacity to meet our customers’ growing demand for our advanced airlaid products, provide us with closer proximity to key suppliers and customers, and link us to highly efficient transportation routes across the South. Equally important, it will allow us to tap into the area’s high-quality workforce.”
In addition to the new Fort Smith facility, Glatfelter has 12 production facilities located across the United States, Canada, Germany, France, United Kingdom and the Philippines. The company, headquartered in York, Pennsylvania, employs more than 4,300 people worldwide.
more at: http://www.glatfelter.com/about_us/news_events/press_release.aspx?PRID=159