GP Closes on Sale of European Nonwovens Business to Glatfelter

Business

GP has recently completed the previously announced sale of Georgia-Pacific Steinfurt GmbH, the company’s European nonwovens business, to Glatfelter for $185 million, subject to customary purchase price adjustments.

The transaction includes GP’s European nonwovens operations located in Steinfurt, Germany, along with sales offices located in France and Italy. With the transaction complete, the European nonwovens team of approximately 220 employees are now part of Glatfelter. The facility produces high-quality airlaid products for the table-top, wipes, hygiene, food pad, and other nonwoven materials markets, as well as other materials focused primarily on consumer applications.

The sale does not include GP’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.

“With the sale of Steinfurt nonwovens complete, GP believes the operation will better meet customer needs given Glatfelter’s larger business and manufacturing presence in Europe,” said Doug Dowdell, president – nonwovens. “I would like to thank the team at Steinfurt, as they have done a great job running a safe, productive operation and have worked hard to make significant improvements to meet European customer needs.”