Glatfelter recently announced it has signed a definitive agreement to purchase all of the outstanding equity of Spezialpapierfabrik Oberschmitten GmbH (SPO) from FINSPO Beteiligungs-GmbH for EUR 8.5 million.
SPO has annual sales of approximately EUR 25 million (U.S.$33 million).
“This acquisition will further our Composite Fibers business unit’s strategy of capitalizing on the fast-growing electrical market by expanding our electrical papers product platform,” said Dante C. Parrini, Chairman and CEO of Glatfelter. “In addition to serving Europe, we intend to leverage Glatfelter’s growing presence in Asia to meet the needs of the high concentration of electrical customers in this region.
"As the demand for electronic devices continues to grow, Glatfelter is positioning itself to become a supplier of choice for electrical and electronics applications,” Parrini noted.
SPO’s plant is located near Frankfurt, Germany. Its primary electrical products and applications include highly technical papers for a wide range of capacitors used in consumer and industrial products; insulation papers for cables and transformers; and materials for industrial power inverters, electromagnetic current filters and electric rail traction. SPO also produces glassine products, which are used in cosmetics packaging, food packaging, and pharmaceutical dosage bags.
