seventeen
May perhaps ’21

Pic: Glatfelter


Glatfelter, a US-based mostly international supplier of engineered components, has declared that it has done the earlier declared acquisition of Georgia-Pacific’s US nonwovens business for $175 million, matter to customary buy value adjustments. Georgia-Pacific is a primary developer of tissue, pulp, packaging, making items, and linked chemicals.

The transaction contains Georgia-Pacific’s Mount Holly, North Carolina air-laid producing procedure together with a nonwovens solution progress procedure and connected workforce in Memphis, Tennessee, which collectively utilize around one hundred forty people. The Mount Holly facility makes superior-good quality air-laid items focused on wipes and table best components. The new solution progress resources will enhance ongoing innovation efforts, Glatfelter said in a press release.

“Today’s announcement is a main phase forward in Glatfelter’s ongoing transformation as we expand the US footprint of our air-laid components section. We are energized to welcome Mount Holly and Memphis workforce to Glatfelter, and we glimpse forward to combining forces with our Glatfelter staff to realize even higher levels of operational excellence, innovation, and entire world-course buyer service. By leveraging these property and personnel talents, we are self-assured the synergies from this acquisition will attractively place us to seize and service prolonged-expression demand from customers for health and fitness and cleanliness items. We imagine today’s announcement additional reinforces our ongoing commitment to make significant investments that incorporate scale to the business and enhance Glatfelter’s benefit in the marketplaces we provide,” Dante C. Parrini, chairman and chief government officer of the firm said in a assertion.

Glatfelter financed the acquisition via a blend of money-on-hand and borrowing beneath its current revolving credit rating facility. Credit rating Suisse acted as Glatfelter’s fiscal advisor in relationship with the transaction, and Shearman & Sterling as its legal advisor.

Fibre2Fashion News Desk (GK)

Glatfelter, a US-based mostly international supplier of engineered components, has declared that it has done the earlier declared acquisition of Georgia-Pacific’s US nonwovens business for $175 million, matter to customary buy value adjustments. Georgia-Pacific is a primary developer of tissue, pulp, packaging, making items, and linked chemicals.