Glatfelter closes Ober-Schmitten, Germany facility; ~180 employees affected

Magnera Corp

Closure of Composite Fibers segment facility due to ongoing losses in electrical and glassine specialty papers.
CEO Fahnemann cites escalating energy, raw material and labor inflation, and loss of business after price increases.
Company unable to estimate total costs; will file amended 8-K within four business days.
About 180 employees; negotiations with Works Council on social plan begin immediately.
Attempts to sell the facility were unsuccessful; no buyer found.

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