First Quarter Highlights
CHARLOTTE, N.C., Feb. 06, 2025 (GLOBE NEWSWIRE) —
Completed the merger of Berry Global Group, Inc.’s nonwovens and hygiene films business with Glatfelter Corporation (“GLT”) on November 4, 2024.
GAAP:
Net sales of $702 million, Operating Loss of $22 million.
Non-GAAP:
Adjusted EBITDA of $84 million.
Fiscal Year 2025 Outlook: Full year comparable Adjusted EBITDA of $385 – $405 million.
Post-merger adjusted free cash flow range of $75 – $95 million.
Committed to near-term debt reduction.
Magnera’s CEO Curt Begle said, “I am honored to be leading Magnera, a global nonwovens leader, with a broad platform of product solutions for the specialty materials industry.”
How Will This Affect Me?
As a consumer, the merger of Berry Global Group, Inc. and Glatfelter Corporation may lead to improved product offerings in the nonwovens and hygiene films industry. This merger could potentially result in more innovative and high-quality products being available to you as a customer. Additionally, the company’s commitment to debt reduction may signal more stability and sustainability in the long run, which could benefit consumers like you.
How Will This Affect the World?
The merger of two major players in the nonwovens and hygiene films industry could have a significant impact on the global market. This consolidation of resources and expertise may lead to increased competition and innovation, ultimately benefiting consumers worldwide. Furthermore, Magnera’s focus on providing solutions for the specialty materials industry could pave the way for advancements in sustainability and efficiency, potentially influencing industry practices on a global scale.
Conclusion
The merger between Berry Global Group, Inc. and Glatfelter Corporation marks a significant milestone in the nonwovens and hygiene films industry. With a strong financial outlook and a commitment to debt reduction, Magnera is poised to continue its leadership position in the global market. The impact of this merger is not only expected to benefit consumers with better product offerings but also has the potential to drive innovation and sustainability on a broader scale.
