Atlanta-based Georgia-Pacific LLC has agreed to sell its Georgia-Pacific Steinfurt GmbH nonwovens business to York, Pa.-based Glatfelter for $185 million. The deal is subject to customary closing conditions and regulatory clearance from competition authorities.
The proposed deal includes Georgia-Pacific’s European airlaid nonwovens operations in Steinfurt, Germany, as well as sales offices in France and Italy. Once the deal closes, the approximately 220 Steinfurt employees will become Glatfelter associates.
The deal does not impact any of Georgia-Pacific’s U.S.-based nonwovens businesses including the nonwovens research and development center in Memphis, and operations in Mt. Holly, N.C. and Green Bay, Wis.
“Georgia-Pacific nonwovens employees in Steinfurt have done a great job running a safe and productive operation, and have worked hard to make significant improvements to meet European customer needs,” said Doug Dowdell, president – nonwovens, Georgia-Pacific. “We believe this sale to Glatfelter, an established manufacturer with multiple European operations, is in the best interests of customers and Georgia-Pacific Steinfurt GmbH employees.”
July/August 2018
