secwatch.observer — SEC 8-K summary
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Issuer:     Magnera Corp (MAGN)
CIK:        0000041719
Form:       8-K/A
Filed at:   2023-08-15T23:59:59+00:00
Accession:  0000041719-23-000038
Event type: other_material
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.05, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Glatfelter sells Ober-Schmitten facility to Ostrest GmbH; expects ~$15M loss
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- Sale of Ober-Schmitten GmbH and related Asia distributor operations to Ostrest GmbH effective Aug. 15, 2023.
- Glatfelter receives no proceeds and expects to record a loss of approx. $15M on the sale.
- Prior closure plan reversed; employee separation charges of ~$10.4M will be reversed in Q3 2023 financials.
- Other associated costs of ~$0.4M not reversed; no additional costs expected beyond transition services.
- Site remains fully operational under new ownership; transition services through Dec. 2023 (may extend to Mar. 2024).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/41719/000004171923000038/0000041719-23-000038-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/41719/000004171923000038/glt-20230531.htm
  HTML page:      https://secwatch.observer/filing/0000041719-23-000038

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