Attached files
file | filename |
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8-K - FORM 8-K - Glatfelter Corp | w76659e8vk.htm |
EX-99.1 - EX-99.1 - Glatfelter Corp | w76659exv99w1.htm |
Exhibit 99.2
NEWS RELEASE
Corporate Headquarters 96 South George Street York, Pennsylvania 17401 U.S.A. www.glatfelter.com |
For Immediate Release
|
Contacts: | |||
Investors: | Media: | |||
John P. Jacunski | William T. Yanavitch | |||
(717) 225-2794 | (717) 225-2747 | |||
john.jacunski@glatfelter.com | william.yanavitch@glatfelter.com |
GLATFELTER RECEIVES FAVORABLE
RULING IN FOX RIVER LITIGATION
RULING IN FOX RIVER LITIGATION
YORK, PA, December 17, 2009 Glatfelter (NYSE: GLT), today announced that the United States
District Court for the Eastern District of Wisconsin issued an opinion and order on several pending
motions in the case captioned Appleton Papers Inc. v. George A. Whiting Paper Co., No. 2:08-cv-16
(E.D. Wis.), including the granting of motions for summary judgment by Glatfelter and the other
defendants and the denial of motions for summary judgment by the plaintiffs (the Summary Judgment
Order). Glatfelter believes that the courts opinion and order supports its position on the
merits of the case and, while subject to appeal, significantly reduces the Companys exposure to
remediation costs for the Lower Fox River and the Bay of Green Bay.
The litigation, which Glatfelter previously announced had been filed during the first quarter of
2008, relates to significant uncertainties associated with environmental claims arising from the
presence of polychlorinated biphenyls in the sediments in the lower Fox River and in the Bay of
Green Bay, Wisconsin. Appleton Papers Inc. and NCR Corporation, two of the parties potentially
responsible, sued certain other entities, including Glatfelter, to allocate responsibility among
them and to seek reimbursement. The first phase of the litigation was scheduled for trial
beginning in January 2010.
In the Courts Summary Judgment Order, the Court denied motions filed by Appleton Papers Inc. and
NCR Corporation for summary judgment and granted the defendants motions for summary judgment. The
Court expressed its intention to enter judgment against Appleton Papers Inc. and NCR Corporation on
all of their contribution claims, holding that the Plaintiffs are not entitled to recover from the
Defendants for their costs incurred in cleaning up damage caused by dangers the Plaintiffs
created. The Court cancelled the pending trial, and will enter judgment unless the parties
provide a reason not to do so in the next 30 days. The Courts opinion does not affect
Glatfelters responsibility to the United States or the State of Wisconsin, nor does it resolve
Glatfelters counterclaims against Appleton Papers Inc. or NCR Corporation for costs Glatfelter has
expended and, therefore, further litigation is possible.
We are pleased with the Courts denial of the plaintiffs motions for summary judgment and with
the Summary Judgment Order, said Thomas G. Jackson, Vice President and General Counsel & Secretary
of Glatfelter. While the outcome of this and any legal matter cannot be predicted with
page 2
certainty, we believe that the Courts Summary Judgment Order is yet another significant and positive step
towards the successful resolution of this litigation.
Forward Looking Statements
Certain statements included in this press release which pertain to future financial and business
matters, are forward-looking statements within the meaning of the safe harbor provisions of the
United States Private Securities Litigation Reform Act of 1995. These statements are based on
managements current expectations and are subject to numerous risks, uncertainties and other
unpredictable or uncontrollable factors which may cause actual results or performance to differ
materially from the Companys expectations. Various risks and factors that could cause future
results to differ materially from those expressed in the forward-looking statements include, but
are not limited to: whether the plaintiffs file an appeal of the Summary Judgment Order, whether
any appeal is successful, the scope of the Companys obligations to the United States government
and the state of Wisconsin, the outcome of the Companys counterclaims against Appleton Papers,
Inc. and NCR Corporation, changes in environmental and other laws and regulations, and other
factors. In light of these risks, uncertainties and other factors, the forward-looking events
discussed in this press release may not occur and readers are cautioned not to place undue reliance
on these forward-looking statements. The forward-looking statements speak only as of the date of
this press release and Glatfelter undertakes no obligation, and does not intend, to update these
forward-looking statements to reflect events or circumstances occurring after the date of this
press release. More information about these factors is contained in Glatfelters filings with the
U.S. Securities and Exchange Commission, which are available at www.glatfelter.com.
About Glatfelter
Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and engineered
products, offering over a century of experience, technical expertise and world-class service. U.S.
operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH. International
operations include facilities in Germany, France, the United Kingdom and the Philippines and a
representative office in China. Glatfelters sales exceed $1 billion annually and its common stock
is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information is
available at www.glatfelter.com.