On July 24, Berry International Group (NYSE: BERY) and Glatfelter (NYSE: GLT) announced their merger plan. According to this plan, Berry's global nonwoven and film business of medical, hygiene and specialty materials will be separated and merged with Glatfelter, and the new company will be branded as "Magnera". The merger plan aims to provide complementary sustainable fiber products and polymer materials.
“Magnera" has 46 manufacturing plants around the world, which can provide innovative solutions to customers in adjacent regions and minimize environmental impact. Magnera's purpose is to "make the world better by turning possibilities into reality". They plan to create and innovate with partners to develop original material solutions to drive customer goals and end-users' daily needs. By focusing on innovation, operational excellence and market penetration strategies, Magnera will become a company with the world's most extensive product supply in high-growth markets in polymer and nonwoven product applications.
Berry Global Group is known for its excellence in plastic packaging. During the pandemic, they significantly increased their production capacity for meltblown nonwovens for masks and respirators, adding multiple production lines around the world. In addition, they invested in a spunmelt production line in Nanhai, China, and a sustainable spunlace production line in Kujik, the Netherlands.
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