secwatch.observer — SEC 8-K summary
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Issuer:     Magnera Corp (MAGN)
CIK:        0000041719
Form:       8-K
Filed at:   2023-05-31T23:59:59+00:00
Accession:  0000041719-23-000022
Event type: other_material
Sentiment:  negative
Materiality: 0.70
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/41719/000004171923000022/0000041719-23-000022-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/41719/000004171923000022/glt-20230531.htm
  HTML page:      https://secwatch.observer/filing/0000041719-23-000022

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