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US' SWM & Neenah launch specialty materials company Mativ

23
Jun '22
Pic: SWM
Pic: SWM
US’ Schweitzer-Mauduit International (SWM) and Neenah, global manufacturers of specialty materials, have unveiled the name of the combined company, Mativ, 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 shares will begin trading under the ticker symbol ‘MATV’.

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. The ‘SWM’ and ‘NP’ ticker symbols will be deactivated, SWM said in a press release.

“I could not be more energised 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, as Mativ,” Julie Schertell, president and CEO of Neenah and named president and CEO of Mativ upon close, said in a statement.

Fibre2Fashion News Desk (GK)

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