Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Glatfelter Announces Conclusion of Regulatory Process for the Acquisition of Georgia-Pacific's U.S. Nonwovens Business
CHARLOTTE, N.C. (News release) -- Glatfelter Corporation announced the antitrust regulatory process has concluded and it may now proceed with the previously announced acquisition of Georgia-Pacific's U.S. nonwovens business for $175 million. The transaction includes Georgia-Pacific's Mount Holly, North Carolina airlaid manufacturing operation and an R&D center for nonwovens product development in Memphis, Tennessee, which collectively employ approximately 140 people.

"This is a significant step toward finalizing the acquisition and ensuring a smooth transition in the weeks ahead. The Mount Holly facility, along with the Memphis R&D center, are excellent complements to Glatfelter's existing business and are important to our ongoing transformation. This transaction will further position us to better serve our customers and provide immediate financial benefit, building on the Company's strong results in 2020," said Dante C. Parrini, Chairman and Chief Executive Officer of Glatfelter.

The transaction is expected to close by May 31, 2021 after all other customary closing conditions have been met. Glatfelter intends to finance the acquisition through a combination of cash on hand and borrowings under its existing revolving credit facility.

Readers, please tell your suppliers that you read Paperitalo Publications


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: