Glatz Finepaper Co. Ltd. in Vietnam has been sold to Austrian-based Delfortgroup. The current, rapidly changing market for standard tobacco papers results in increasing price-declines, especially in Asia. The long-term strategic goal of Julius Glatz GmbH Papierfabriken Neidenfels, the former owner, has always been to focus on our core competencies, which includes high quality cigarette and plugwrap papers but has also been especially on Tipping Base papers and LIP-papers.
Julius Glatz will continue to produce high-quality tobacco papers (CP and PWP) in Germany, and will strive to strengthen capabilities on Tipping Base- and LIP-papers by focusing future R&D efforts on these two product groups as well as its production sites in Germany.
We are looking forward to continue our close relationship with you in all matters and are well prepared to continue our global supply of all kinds of products out of Germany as requested.
