Glatfelter to acquire Georgia-Pacific’s US nonwovens business for $175 million
CHARLOTTE, NC, January 6, 2021-
Glatfelter Corporation (NYSE: GLT), a leading global supplier of engineered materials, today announced the signing of a definitive agreement to purchase Georgia-Pacific’s U.S. nonwovens business for $175 million, subject to customary post-closing purchase price adjustments.
Glatfelter will acquire Georgia-Pacific’s Mount Holly, North Carolina, airlaid manufacturing business and an R&D pilot line for nonwovens product development in Memphis, Tennessee, which collectively employ approximately 150 people. The Mount Holly facility has a capacity of 37,000 metric tons and produces high-quality airlaid products focused on wipes and tabletop materials. The R&D pilot line and additional technical resources will enhance ongoing innovation efforts.
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