Neatly-Situated to Serve Consumers with Main Applied sciences, Innovation, and World Scale
Transparent Trail to Ship $65+ Million Value Synergy Plan, With Further Upside Alternatives to Boost up Income Enlargement
Mativ Holdings, Inc. (NYSE: MATV) (“Mativ” or the “Corporate”) as of late introduced the a success finishing touch of the merger of equals between Schweitzer-Mauduit Global, Inc. (“SWM”) and Neenah, Inc. (“Neenah”), two main world producers of strong point fabrics, efficient July 6, 2022. Mativ has roughly $3 billion in gross sales, supporting shoppers in additional than 100 international locations, and production features on 4 continents. Starting Wednesday, July 6, 2022, the Corporate will begin buying and selling at the New York Inventory Alternate (NYSE) on the marketplace open, below the brand new ticker image “MATV.”
This press unlock options multimedia. View the overall unlock right here: https://www.businesswire.com/information/house/20220706005225/en/
Pursuant to the merger settlement, Neenah shareholders gained 1.358 stocks of SWM commonplace inventory for every proportion of Neenah commonplace inventory owned. SWM’s shareholders will proceed to carry their stocks of SWM commonplace inventory. All SWM stocks at the moment are stocks of Mativ commonplace inventory.
Julie Schertell, President and CEO of Mativ, commented, “I’m extraordinarily excited and proud to mark this essential milestone within the adventure of our two corporations with the formation of Mativ. This merger is a novel alternative to boldly reimagine our long term as a more potent and faster-growing world endeavor. As we come in combination, we see important close to and long-term price introduction alternatives to boost up enlargement and magnify margins. With compelling strategic touch-points in key marketplace classes, complementary geographies and applied sciences, larger world scale, and a passionate staff with deep roots in subject matter science, we’re preferably fitted to assist clear up our buyer’s most important demanding situations, which is the basis of our cultural, industrial and fiscal luck.”
Schertell continues, “As we deliver the most productive of those two organizations in combination, our priorities are focused round supporting our shoppers, accelerating our enlargement, turning in the $65 million, or extra, of deal-enabled value synergies, and using margins and money flows to reinforce deleveraging and a powerful dividend. We will be able to additionally proceed to execute our technique, together with investments in our quickest increasing and maximum successful industry gadgets and decisive movements to optimize our portfolio over the years. Mativ has super attainable, and, as we have a good time this new starting, I need to acknowledge the efforts of our exceptional staff who paintings tirelessly on a daily basis to push the boundaries of what’s imaginable.”
“As of late marks a thrilling new bankruptcy within the wealthy histories of each corporations, forming a scaled world chief in strong point fabrics to power price for purchasers, staff, stakeholders, and our shareholders,” mentioned Dr. John Rogers, Chairman of Mativ’s Board of Administrators. “We will be able to proceed executing a well-defined technique, deal with a wonderful monetary profile, and advance our company stewardship and governance efforts. Mativ is dedicated to offering horny returns to shareholders whilst keeping up a prudent steadiness sheet and disciplined way to capital allocation. Now we have assembled an outstanding, numerous, and skilled management staff, and we look ahead to operating with Julie and her proficient workforce of leaders to ship at the promise of this transaction.”
Mativ will divulge monetary effects for 2 reporting segments: Complex Technical Fabrics (ATM) and Fiber-Primarily based Answers (FBS). The ATM phase is produced from 5 non-reporting industry gadgets: Filtration, Protecting Answers, Liberate Liners, Healthcare, and Industrials. This phase most often represents the mix of SWM’s legacy Complex Fabrics and Constructions and Neenah’s Technical Merchandise reporting segments. ATM will ship answers that filter out and purify air and liquids, reinforce adhesive and protecting programs, advance therapeutic and wellness, and clear up a few of subject matter science’s maximum hard efficiency wishes.
The FBS phase is produced from two non-reporting industry gadgets: Engineered Papers and Packaging and Strong point Paper – and represents SWM and Neenah’s respective legacy paper segments. FBS will leverage the mixed corporate’s in depth herbal fiber features to offer strong point answers for more than a few end-uses, together with sustainable packaging, imaging and communications, house and place of work, and shopper items, amongst different programs.
For the second one quarter of 2022, Mativ will document monetary effects for legacy SWM and make a choice monetary and industry highlights from Neenah. A choice to talk about effects, industry efficiency, and long term outlook, will probably be scheduled for August 10, 2022. Starting within the 3rd quarter of 2022, Mativ’s financials will probably be reported on a consolidated foundation in keeping with the timing effectiveness of the merger.
The Corporate intends to announce its first quarterly dividend distribution along side its second-quarter income unlock, following approval through its Board of Administrators.
Additional info and an summary of Mativ’s services can also be discovered at www.mativ.com.
Mativ Holdings, Inc. is an international chief in strong point fabrics headquartered in Alpharetta, Georgia. The Corporate provides a variety of essential parts and engineered answers to resolve our shoppers’ most complicated demanding situations. With over 7,500 staff international, we manufacture on 4 continents and generate gross sales in additional than 100 international locations. The Corporate’s two running segments, Complex Technical Fabrics and Fiber-Primarily based Answers, goal top class programs throughout different and increasing end-markets, from filtration to healthcare to sustainable packaging. Our extensive portfolio of applied sciences combines polymers, fibers, and resins to optimize the efficiency of our shoppers’ merchandise throughout more than one levels of the price chain. Our main positions are a testomony to our best-in-class world production, provide chain, and fabrics science features. We power innovation and strengthen efficiency, discovering attainable within the inconceivable.
Ahead-Having a look Statements
This press unlock would possibly include forward-looking statements throughout the that means of the Non-public Securities Litigation Reform Act of 1995. Those forward-looking statements, which can be in keeping with present expectancies, estimates and projections in regards to the trade and markets during which Mativ operates and ideology of and assumptions made through Mativ control, contain uncertainties that would considerably have an effect on the monetary situation, result of operations, industry plans and the long run efficiency of Mativ. Phrases akin to “believes,” “anticipates,” “expects,” “assumes,” “outlook,” “intends,” “centered,” “estimates,” “forecasts,” “initiatives,” “plans,” “would possibly,” “may just,” “will have to,” “would” and identical expressions are supposed to spot forward-looking statements however aren’t the unique approach of figuring out those statements. Such forward-looking statements come with, however aren’t restricted to, statements in regards to the strategic rationale and fiscal advantages of the transaction, together with anticipated long term monetary and running effects and the mixed corporate’s plans, targets, expectancies and intentions. All statements that deal with running efficiency, occasions or tendencies that we think or wait for will happen sooner or later — together with statements on the subject of projections of earnings, source of revenue or loss, income or loss consistent with proportion, the fee or nonpayment of dividends, capital construction and different monetary pieces; statements of plans and targets of Mativ or its control or Board of Administrators, together with the ones on the subject of merchandise or products and services; and statements of long term financial efficiency — are forward-looking statements. Those statements aren’t promises of long term efficiency and contain sure dangers, uncertainties and assumptions which are tough to expect. Even supposing we imagine the expectancies mirrored in any forward-looking statements are in keeping with cheap assumptions, we will give no assurance that our expectancies will probably be attained, and subsequently exact results and effects would possibly vary materially from what’s expressed or forecasted in such forward-looking statements. Along with elements up to now disclosed in Mativ’s reviews filed with the U.S. Securities and Alternate Fee (the “SEC”) and the ones known in other places on this verbal exchange, the next elements, amongst others, may just reason exact effects to vary materially from forward-looking statements or historic efficiency: failing to totally notice expected value financial savings and different expected advantages of the merger with Neenah when anticipated or in any respect; the considerable indebtedness Mativ has incurred and assumed in reference to the transaction and the wish to generate enough money flows to provider and pay off such debt; the chance that Mativ could also be not able to reach anticipated synergies and running efficiencies throughout the anticipated time-frames or in any respect and to effectively combine Neenah’s operations with the ones of Mativ; failing to agree to the acceptable rules or criminal or regulatory tendencies; inflation, foreign money and rate of interest fluctuations; the facility of Mativ to retain and rent key staff; the diversion of control’s consideration from ongoing industry operations; the period and results of the COVID-19 pandemic, normal financial and industry prerequisites, in particular within the context of the COVID-19 pandemic; will increase in upkeep and running prices; safety threats; reliance on generation and similar cybersecurity chance; business restrictions or different adjustments to world business preparations; transportation of hazardous fabrics; more than a few occasions which might disrupt operations, together with geopolitical occasions, wars, conflicts, unlawful blockades of rail networks, and herbal occasions akin to critical climate, droughts, fires, floods and earthquakes; local weather exchange; exertions negotiations and disruptions; environmental claims; uncertainties of investigations, court cases or different varieties of claims and litigation; dangers and liabilities bobbing up from educate derailments; timing and finishing touch of capital methods; uncertainty as to the long-term price of the typical inventory of Mativ, together with the dilution led to through Mativ’s issuance of extra stocks of its commonplace inventory in reference to the merger; the continuing availability of capital and financing; the industry, financial and political prerequisites within the markets during which Mativ operates; and occasions past Mativ’s keep watch over, akin to acts of terrorism. Any forward-looking statements discuss most effective as of the date of this verbal exchange or as of the date they had been made, and Mativ does no longer adopt any legal responsibility to replace forward-looking statements. For a extra detailed dialogue of those elements, additionally see the guidelines below the captions “Chance Elements” and “Control’s Dialogue and Research of Monetary Situation and Result of Operations” in Mativ’s most up-to-date annual document on Shape 10-Okay for the 12 months ended December 31, 2021, quarterly document on Shape 10-Q for the length ended March 31, 2022, and any subject matter updates to those elements contained in any of Mativ’s long term filings with the SEC.