P.H. Glatfelter subsidiary borrowing $55.6 million for capital expenditures, investments
A wholly owned German subsidiary of York-based P.H. Glatfelter Co. has entered a loan contract worth about $55.6 million for certain capital expenditures and other related manufacturing facility investments, according to a regulatory filing.
The agreement is between Glatfelter Gernsbach GmbH & Co. KG and IKB Deutsche Industriebank AG, Düsseldorf.
P.H. Glatfelter will be unconditionally guaranteeing the loan, the filing stated.
The amount must be borrowed by April 26, 2014, according to the filing.
Glatfelter’s Composite Fibers business unit is based in Gernsbach, according to its 2012 annual report. Shares of P.H. Glatfelter are traded on the New York Stock Exchange under the ticker symbol GLT.
Courtesy of the Central Penn Business Journal. Read the full article here: