ATLANTA — January 6, 2021 — Georgia-Pacific LLC announced today that it has reached an agreement to sell their nonwovens business to Glatfelter, a global supplier of engineered materials, headquartered in Charlotte, N.C. The transaction is subject to customary closing conditions, including regulatory clearances from competition authorities. The price is $175 million.
The proposed transaction includes Georgia-Pacific’s nonwovens operations located in Mt. Holly, N.C., along with a research center operation in Memphis, Tenn. The nonwovens operations in Mt. Holly produces airlaid nonwoven material for commercial customers used to make table top, wiping, food pads, hygiene and related products. In the proposed transaction, current Georgia-Pacific nonwovens employees, totaling approximately 150 people, will become employees of Glatfelter at the time the deal closes.
“Georgia-Pacific nonwovens employees at Mt. Holly and Memphis have run safe, productive operations and worked hard to advance our nonwovens business to meet customer needs,” said Mike Adams, president – Georgia-Pacific Professional and Nonwovens. “We believe this sale to Glatfelter, an established manufacturer and supplier of nonwovens products, is in the best interests of both customers and our nonwovens employees.”
In 2018, Georgia-Pacific LLC sold Steinfurt GmbH, the company’s European nonwovens business, to Glatfelter for $185 million.
Posted January 6, 2020
Source: Georgia-Pacific
