Georgia-Pacific (GP) is to sell its nonwovens business to Glatfelter, a global supplier of engineered materials headquartered in Charlotte, North Carolina.
The sale – for $175m – must still go through customary closing conditions and regulatory clearances from competition authorities.
It will include the company’s nonwovens operations at Mt. Holly, North Carolina, which produces airlaid nonwoven material for commercial customers used to make table top, wiping, food pads, hygiene and related products, and a research centre in Memphis, Tennessee.
Mike Adams, president – Georgia-Pacific Professional and Nonwovens, said: “We believe this potential sale to Glatfelter, an established manufacturer and supplier of nonwovens products, is in the best interests of both customers and our nonwovens employees.”
The 150 nonwovens employees will become employees of Glatfelter at the time the deal closes.
In 2018, GP sold its European nonwovens business Steinfurt to Glatfelter for $185m.
