June 21, 2022 - Schweitzer-Mauduit International, Inc. and Neenah, Inc. today announced the future name of the combined company upon completing the pending all-stock merger of equals. Each company's shareholders are scheduled to vote on the transaction on June 29, 2022.
The transaction is expected to close on or around July 1, 2022, subject to Neenah and SWM shareholder approval, approval by antitrust authorities in Poland, and other customary closing conditions.
Upon close, the new company name will be Mativ, Inc. and its shares will begin trading on the NYSE under the ticker symbol "MATV."
Schweitzer-Mauduit International's "SWM" ticker symbol and Neenah's "NP" ticker symbol will be deactivated.
Julie Schertell, President and CEO of Neenah and named President and CEO of Mativ upon close, commented, "I could not be more energized about bringing together two highly innovative solutions companies into Mativ. We are on track with regulatory clearance approvals, our pre-integration teams are in place, and we have a clear path to over $65 million in synergies.
"Our customers and the investor community have responded very positively to the merger's compelling strategic and financial merits of the merger, underscored by an accelerated growth outlook. As a team, we could not be more excited as we prepare for this new beginning… better, stronger, together, as Mativ."
Schweitzer-Mauduit International, Inc., operating as SWM International, is a leading global performance materials company focused on finding ways to improve everyday life by bringing best-in-class innovation, design, and manufacturing solutions to our customers. Our highly engineered films, adhesive tapes, foams, nets, nonwovens, and papers are designed and manufactured using resins, polymers, and natural fibers for a variety of industries and specialty applications. SWM and its subsidiaries manufacture on four continents, conduct business in over 90 countries and employ approximately 5,000 people worldwide.
Neenah is a leading global manufacturer of specialty materials serving customers across six continents, with headquarters in Alpharetta, Georgia. We are focused on growing filtration media, specialty coatings, engineered materials, and imaging & packaging. Our materials are used in various products every day, such as transportation and water filters, premium packaging of spirits, technology and beauty products, industrial labels, tapes and abrasives, and digital printing for high-end apparel.
SOURCE: Neenah, Inc.
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