Glatfelter buys Georgia-Pacific’s US nonwovens enterprise



12
Jan ’21

Pic: Glatfelter Corporation

Pic: Glatfelter Company


Glatfelter Company, a number one world provider of engineered supplies, is taking on Georgia-Pacific’s US nonwovens enterprise. It has signed a definitive settlement on this connection. Glatfelter is making the acquisition for $175 million, topic to customary post-closing buy worth changes. This may assist Glatfelter develop operations within the US.

Glatfelter will purchase Georgia-Pacific’s Mount Holly, North Carolina, airlaid manufacturing enterprise and an R and D pilot line for nonwovens product growth in Memphis, Tennessee, which collectively make use of roughly 150 individuals. The Mount Holly facility has a capability of 37,000 metric tons and produces high-quality airlaid merchandise targeted on wipes and tabletop supplies. The R and D pilot line and extra technical assets will improve ongoing innovation efforts.

“The settlement to amass Georgia-Pacific’s US nonwovens enterprise additional reinforces our dedication to put money into development alternatives as a part of Glatfelter’s ongoing transformation whereas additionally increasing our working footprint in america,” stated Dante C Parrini, chairman and chief govt officer of Glatfelter. “Our airlaid enterprise has delivered sturdy outcomes all through an unprecedented 2020. The Mount Holly facility, together with the R and D pilot line, will permit us to proceed to construct on this success and higher serve our clients.”

Georgia-Pacific’s US nonwovens enterprise generates annual internet gross sales and adjusted EBITDA of roughly $100 million and $20 million, respectively. Glatfelter expects to understand annual value synergies of roughly $four million to $6 million inside three years and incur one-time prices of roughly $10 million for transaction charges and integration.

Glatfelter plans to finance the acquisition by a mixture of money available and borrowing below its present revolving credit score facility.

The transaction is topic to customary closing circumstances, together with receipt of required regulatory clearances. Credit score Suisse acted as Glatfelter’s monetary advisor in reference to the transaction, and Shearman & Sterling as its authorized advisor.

Fibre2Fashion Information Desk (SV)


Glatfelter Company, a number one world provider of engineered supplies, is taking on Georgia-Pacific’s US nonwovens enterprise. It has signed a definitive settlement on this connection. Glatfelter is making the acquisition for $175 million, topic to customary post-closing buy worth changes. This may assist Glatfelter develop operations within the US.





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