Georgia-Pacific LLC announced recently that it has reached an agreement to sell Georgia-Pacific Steinfurt GmbH, the company’s European nonwovens business, to Glatfelter, a global manufacturer of specialty papers and engineered products headquartered in York, Pennsylvania, according to a report in Textile World. The proposed transaction includes the Steinfurt, Germany, nonwovens operations as well as the sales offices located in France and Italy.
The nonwovens operations in Steinfurt produce airlaid nonwoven material used to make food pads and tabletop, wiping, hygiene and related products. In the proposed transaction, current Georgia-Pacific Steinfurt GmbH employees (approximately 220 people) will become employees of Glatfelter at the time the deal closes.
The transaction is subject to customary closing conditions, including regulatory clearances from competition authorities. The price is $185 million. The transaction does not include Georgia-Pacific’s U.S.-based nonwovens business, including operations at Mt. Holly, N.C., Green Bay, Wis., and the nonwovens R&D center in Memphis, Tenn.