P.H. Glatfelter reached a definitive agreement to sell
its Ecusta Division to RFS for around $39 million. The transaction involves the
sale of the assets of P. H. Glatfelter's Ecusta mill, which produces tobacco
papers and lightweight printing papers, together with the stock of the Ecusta
operating subsidiaries in Australia and Canada and other company receivables.
Related to the transaction, Glatfelter said its
Schoeller & Hoesch GmbH & Co. subsidiary in Germany entered into a
two-year agreement to manufacture and supply tobacco papers to RF & Sons
GmbH, a PURICO affiliate in Germany.
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