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Subsequent Events
9 Months Ended
Sep. 28, 2013
Subsequent Events [Abstract]  
Subsequent Events
Subsequent Events
On October 22, 2013, the Company agreed to amend the Bridge Facility in order to add, in addition to other parties, Blackstone Holdings Co. L.L.C., a subsidiary of Blackstone, as an initial lender. The Bridge Facility provides for a commitment by the lenders to make secured bridge loans, the proceeds of which will be used to fund the proposed acquisition of Fiberweb anticipated to be completed during the fourth quarter of 2013.
On October 24, 2013, the Board of Fiberweb approved the Scheme of Arrangement (the "Scheme") and other associated matters to implement the acquisition of Fiberweb by the Company. The resolutions proposed were approved by the requisite majorities of Fiberweb shareholders. Completion of the acquisition remains subject to the satisfaction or waiver of certain conditions set out in the Scheme document, including court sanction of the Scheme and court confirmation of the associated reduction of capital. It is expected that the transaction will become effective on or around November 15, 2013.