Georgia-Pacific LLC has reached an agreement to sell Georgia-Pacific Steinfurt GmbH, the company's European nonwovens business, to Glatfelter. The transaction is subject to customary closing conditions, including regulatory clearances from competition authorities. The price is $185 million, as the company says in the press release received by Lesprom Network.
The proposed transaction includes Georgia-Pacific's European nonwovens operations located in Steinfurt, Germany, along with sales offices located in France and Italy. In the proposed transaction, current Georgia-Pacific Steinfurt GmbH employees, totaling approximately 220 people, will become employees of Glatfelter at the time the deal closes.
The transaction does not include Georgia-Pacific's U.S.-based nonwovens business, including operations at Mt. Holly, North Carolina; Green Bay, Wisconsin, and the nonwovens R&D center in Memphis, Tennessee.
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, office papers, cellulose, specialty fibers, nonwoven fabrics, building products and related chemicals.
