POLGB Polymer Group Inc. featured news, full reports, and detailed charts
Polymer Group Inc. (POLGB/POLGB.OB) Wrap Up:
Polymer Group, Inc. manufactures and markets nonwoven and oriented polyolefin products. The company operates through two segments, Nonwovens and Oriented Polymers. Its Nonwovens segment offers nonwoven materials, which are used as substrates in diapers, training pants, feminine sanitary protection, adult incontinence, baby wipes, and household wiping products. This segment also offers components, including top sheet, transfer layer, backsheet fabric, leg cuff fabric, sanitary protective facings, and absorbent pads for incontinence guard, panty shield, and absorbent core applications; and disposable surgical packs, and wound care sponges and dressings, as well as apparel, including operating ...www.polymergroupinc.com
3,168 Employees
Founded in 1994
Polymer Group Inc (POLGB:OTC Bulletin Board Market)
LAST $12.00 USD
CHANGE TODAY 0.00 0.00%
VOLUME 0.0
As of October 27, 2009 All times are local (Market data by Reuters is delayed by at least 15 minutes).
Snapshot of Polymer Group Inc (POLGB)
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OPEN
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PREVIOUS CLOSE
$12.00
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DAY HIGH
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DAY LOW
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52 WEEK HIGH
01/5/09 - $17.00
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52 WEEK LOW
03/17/09 - $4.25
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MARKET CAP
1.0M
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AVERAGE VOLUME 3 mo
0.0
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DILUTED EPS TTM
--
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SHARES OUTSTANDING
84.0K
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POLGB Does Not Pay Dividends
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P/E TTM
NM
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related news
PGI turns 40, expands [The Smithfield Herald, N.C.]
Knight Ridder/Tribune - 11/18/2009 5:22 PM ET
POLGB Top Compensated Officers
No compensation data is available at this time for the top officers at this company.
Executives, Board Directors
Key developments for Polymer Group Inc (POLGB)
Polymer Group Inc. Announces Executive Changes
10/31/2009
Polymer Group Inc. (PGI) announced that Robert Kocourek, chief financial officer (CFO) will resign to pursue other interests. Mr. Kocourek will continue as PGI's CFO until the company files its Form 10-Q for the period ended October 3, 2009. To ensure an orderly transition, Mr. Kocourek has agreed to remain with PGI as senior advisor to the CEO until no later than April 16, 2010 during which time he will assist with a smooth transfer of his responsibilities. Until a permanent replacement for Mr. Kocourek is named, Keith Hall, 55, a member of PGI's board of directors, will be named as interim CFO.
Polymer Group Inc. Announces Change of Chief Financial Officer
10/16/2009
Polymer Group Inc. (PGI) announced that Robert Kocourek, chief financial officer (CFO), will resign from PGI to pursue other interests. Mr. Kocourek will continue as PGI's CFO until the company files its Form 10-Q for the period ended October 3, 2009. To ensure an orderly transition, Mr. Kocourek has agreed to remain with PGI as senior advisor to the CEO until no later than April 16, 2010 during which time he will assist with a smooth transfer of his responsibilities. Until a permanent replacement for Mr. Kocourek is named, Keith Hall, 55, a member of PGI's board of directors, will be named as interim CFO.
Polymer Group Inc. Completes Amend and Extend Transaction
09/23/2009
Polymer Group Inc. announced that it has completed its previously announced amendment and extension transaction and has repaid $24.0 million of net outstanding borrowings under the term loan of it senior secured credit facility. The new, extended term loan will mature in November 2014 and bears an interest rate of LIBOR plus 4.5%. The new, extended revolving credit facility will mature in November 2013 and bears an interest rate of LIBOR plus 4.5%. If outstanding borrowings under the original term loan tranche that matures November 2012 exceed $10.0 million in August 2012, the new revolving credit facility tranche will mature in August 2012. Other terms of the amendment include the elimination of future step-downs or step-ups in the company's financial covenants; the establishment of a LIBOR floor of 2.5% for the new term loan and revolving credit facility tranches; price protection for the new term loan tranche requiring a matching yield if any future term loan tranches are established at yields at least 25 basis points above the new term loan tranche; and changes to certain definitions and baskets related to permitted investments, acquisitions and assets sales.
POLGB Competitors
| Company | Last | Change |
| Buckeye Technology Inc | $9.44 USD | +0.02 |
| Duni | kr63.50 SEK | +1.75 |
| Intertape Polymer Group Inc | C$2.02 CAD | +0.04 |
| Pure Earth Inc | $0.29 USD | 0.00 |
| Market data is delayed at least 20 minutes. | ||
Industry Analysis
| Valuation | POLGB | Industry Range |
| Price/Earnings | -- | Not Meaningful |
| Price/Sales | -- | Not Meaningful |
| Price/Book | -- | Not Meaningful |
| Price/Cash Flow | -- | Not Meaningful |
| TEV/Sales | -- | Not Meaningful |
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POLGB |
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POLGB transactions
| Type Date |
Target |
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Merger/Acquisition
October 30, 2009 |
Texnovo-Tesalca |
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Merger/Acquisition
October 30, 2009 |
Dominion Nonwovens Sudamericana S.A. |
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Merger/Acquisition
August 24, 2009 |
FabPro Oriented Polymers, Inc. |
More Recent News About Polymer Group Inc.
More news for POLGB
Polymer Group, Inc. Announces Third Quarter 2009 Earnings Conference Call
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PGI Reports Third Quarter and Nine-Month Results
CHARLOTTE, N.C., Nov. 12 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (PGI) (OTC Bulletin Board: POLGA/POLGB) reported results of operations for the third quarter and nine-month period ended October 3, 2009. (Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b)Highlights included:THIRD QUARTER RESULTSSales from continuing operations for the third quarter of 2009 were $223.0 million compared to $284.1 million for the third quarter of 2008. The decline was due primarily to lower selling prices to reflect lower overall raw material costs and lower volumes in the industrial segments, which most affected the U.S. and European nonwovens businesses and the Canadian business in Oriented Polymers. Volumes in Latin America and Asia were stable compared to the prior year period. Foreign currency changes impacted sales by approximately $9.0 million as the U.S. dollar weakened to most currencies.While sales were lower during the third quarter of 2009, gross profit from continuing operations increased $6.6 million to $47.1 million. Raw material costs were significantly lower during the quarter compared to the third quarter of 2008. During the third quarter of 2008, raw material costs increased dramatically, resulting in a negative impact to gross profit as the company's selling prices generally lag approximately one quarter to changes in raw material costs. Results for the third quarter of 2009 reflected the impact of positive mix improvements and other proactive steps the company has taken to improve the spread of selling prices over raw material costs such that changes in selli...Click here to read the whole Article (external link)
PGI Signs Agreement to Acquire Spanish Nonwovens Business Tesalca-Texnovo
CHARLOTTE, N.C., Nov 2 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI) today announced it has signed a definitive agreement to acquire the Barcelona, Spain-based Tesalca-Texnovo nonwovens businesses from Grupo Corinpa, S.L. in a two-phase process. The purchase is expected to close by the end of November, subject to customary closing conditions. (Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b )In conjunction with the transaction, PGI and Grupo Corinpa will initiate a long-term partnership that includes share ownership by Grupo Corinpa in PGI and representation on the PGI board of directors.The businesses will be operated as a new wholly owned subsidiary (PGI Spain) and will have in excess of 50,000 metric tonnes of combined capacity. The acquisition furthers PGI's strategy of strengthening its position as the global leader in the hygiene market by increasing its presence in Europe, the world's largest volume market, and bringing it into new markets in Western Europe and Northern Africa where Tesalca-Texnovo has a strong customer base. After the consummation of the transaction, PGI's global spunlaid capacity will be in excess of 285,000 metric tonnes.Texnovo was founded in 1989 as a family-owned private business focused on the industrial segments and the Tesalca business operations were added a decade later to supply the hygiene and medical segments. With approximately 280 total employees and combined 2008 annual sales of approximately $87 million, Tesalca-Texnovo is the only organization that manufactures spunbond polypropylene nonwoven materi...Click here to read the whole Article (external link)
PGI Acquires Remaining 40% Stake of its Argentinean Joint Venture
CHARLOTTE, N.C., Oct. 30 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA/POLGB) (PGI) announced today it has completed a transaction to purchase the 40 percent minority stake in Dominion Nonwovens Sudamericana, S.A. (PGI Argentina) from its partner, Guillermo E. Kraves. Terms of the transaction were not disclosed. (Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b )Located near Buenos Aires, Argentina, PGI Argentina has been operating as a joint venture since 1997. The company began operations with the installation of a multi-beam spunmelt line serving the hygiene and industrial markets of the Mercosur region and added an extrusion line in 2003 to increase the company's fully integrated production capabilities. Most recently, PGI installed a new wide-width, multi-beam line featuring the latest spunbond technology with capacity in excess of 15,000 metric tonnes per year. PGI purchased a majority share of the business in 1999 and has been focused on growing the business in the Mercosur as part of its overall hygiene leadership strategy in Latin America."This investment is a signal of our confidence in the future of our operations in Latin America and the strategic significance of the operations in Argentina," said PGI's chief executive officer, Veronica (Ronee) Hagen. "We have successfully positioned ourselves with supply in each of the major trade regions of Latin America and bringing the Argentina joint venture fully into the PGI ownership structure gives us the ability to fully capitalize on future growth opportunities."Roland Dominguez, vice president and ge...Click here to read the whole Article (external link)
Polymer Group, Inc. Names Keith Hall Interim Chief Financial Officer
CHARLOTTE, N.C., Oct. 16 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI) today announced that Robert Kocourek, chief financial officer (CFO), will resign from PGI to pursue other interests. Mr. Kocourek will continue as PGI's CFO until the company files its Form 10-Q for the period ended October 3, 2009. To ensure an orderly transition, Mr. Kocourek has agreed to remain with PGI as senior advisor to the CEO until no later than April 16, 2010 during which time he will assist with a smooth transfer of his responsibilities. Until a permanent replacement for Mr. Kocourek is named, Keith Hall, 55, a member of PGI's board of directors, will be named as interim CFO. PGI has initiated a search process for the position of CFO and is considering both internal and external candidates.(Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b )"On behalf of PGI, I would like to thank Bob for his many contributions during his tenure here. We wish him the best of luck in his future endeavors," said Veronica Hagen, chief executive officer of PGI. "We are fortunate that Keith is on our Board and able to step in with public company experience as CFO while we complete our search for a permanent replacement."Mr. Hall, a PGI board member since December 2008, brings over 30 years of experience to his position on PGI's board of directors where he serves as chairman of the capital projects committee and as a member of the audit committee. He was previously CFO of LendingTree, LLC when he retired in 2007. In addition to LendingTree, Mr. Hall ...Click here to read the whole Article (external link)
Polymer Group, Inc. Completes Amend and Extend Transaction
CHARLOTTE, N.C., Sept. 23 /PRNewswire-FirstCall/ -- Polymer Group, Inc. (OTC Bulletin Board: POLGA; POLGB) (PGI) today announced that it has completed its previously announced amendment and extension transaction and has repaid $24.0 million of net outstanding borrowings under the term loan of it senior secured credit facility. (Logo: http://www.newscom.com/cgi-bin/prnh/20080903/CLW036LOGO-b )The new, extended term loan will mature in November 2014 and bears an interest rate of LIBOR plus 4.5%. The new, extended revolving credit facility will mature in November 2013 and bears an interest rate of LIBOR plus 4.5%. If outstanding borrowings under the original term loan tranche that matures November 2012 exceed $10.0 million in August 2012, the new revolving credit facility tranche will mature in August 2012.Other terms of the amendment include the elimination of future step-downs or step-ups in the company's financial covenants; the establishment of a LIBOR floor of 2.5% for the new term loan and revolving credit facility tranches; price protection for the new term loan tranche requiring a matching yield if any future term loan tranches are established at yields at least 25 basis points above the new term loan tranche; and changes to certain definitions and baskets related to permitted investments, acquisitions and assets sales.Polymer Group, Inc., one of the world's leading producers of nonwovens, is a global, technology-driven developer, producer and marketer of engineered materials. With the broadest range of process technologies in the nonwovens industry, PGI is a global supplier to leading cons...Click here to read the whole Article (external link)
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