PH Glatfelter Co, a manufacturer of specialty papers and engineered paper products, announced on Tuesday it is buying Concert Industries Corp from Brookfield Asset Management Inc for C$246.5 million ($237 million).
Glatfelter expects the acquisition to modestly add to 2010 earnings and add $0.20 to $0.25 per share to 2011 earnings.
Concert is a leading supplier of feminine hygiene products. Its customers include Procter & Gamble Co, Johnson & Johnson, SCA and Kimberly-Clark.
The deal, which Glatfelter plans to finance through a combination of cash on hand and debt, is expected to close by the end of the first quarter of 2010, according to Reuters' report.
Russia has left the list of 33 largest holders of US government bonds, after the country disposed of at least a third of remaining bonds