Glatfelter finalizes a deal with Georgia-Pacific to purchase the nonwovens business for $175 million. The transaction is subject to customary closing conditions, including regulatory clearances from competition authorities.
Based in Atlanta, Georgia-Pacific and its subsidiaries are among the world’s leading manufacturers and marketers of bath tissue, paper towels and napkins, tableware, paper-based packaging, cellulose, specialty fibers, nonwoven fabrics, building products, and related chemicals. Georgia-Pacific Recycling subsidiary is among the world’s largest traders of paper, metal, and plastics. The company operates more than 150 facilities, employs more than 30,000 people directly, and indirectly creates approximately 89,000 jobs.
The proposed transaction includes Georgia-Pacific’s nonwovens operations located in Mt. Holly, North Carolina, and a research center operation in Memphis, Tennessee. The nonwovens operations in Mt. Holly produce air-laid nonwoven material for commercial customers used to make a tabletop, wiping, food pads, hygiene, and related products. In the proposed transaction, current Georgia-Pacific nonwovens employees, totaling approximately 150 people, will become Glatfelter employees at the time the deal closes.
Mike Adams, president – Georgia-Pacific Professional and Nonwovens, said, “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. 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.”
