The merger of equals between Schweitzer-Mauduit International, Inc. (SWM) and Neenah has now been completed to create a new $3 billion turnover operation which is being named Mativ.

With over 7,500 employees worldwide on four continents supporting customers in more than 100 countries, and manufacturing capabilities on four continents, the company began trading on the New York Stock Exchange (NYSE) July 6.

Pursuant to the merger agreement, Neenah shareholders received 1,358 shares of SWM common stock for each share of Neenah common stock owned. SWM’s shareholders will continue to hold their shares of SWM common stock. All SWM shares are now shares of Mativ common stock.

“I am extremely excited and proud to mark this important milestone in the journey of our two companies with the formation of Mativ,” said Julie Schertell, president and CEO “This merger is a unique opportunity to boldly reimagine our future as a stronger and faster-growing global enterprise. As we come together, we see significant near and long-term value creation opportunities to accelerate growth and amplify margins. With compelling strategic touch-points in key market categories, complementary geographies and technologies, increased global scale and a passionate workforce with deep roots in material science, we are ideally suited to help solve our customer’s most critical challenges, which is the foundation of our cultural, commercial and financial success.

 “As we bring the best of these two organisations together, our priorities are centred around supporting our customers, accelerating our growth, delivering the $65 million, or more, of deal-enabled cost synergies, and driving margins and cash flows to support deleveraging and a strong dividend. We will also continue to execute our strategy, including investments in our fastest growing and most profitable business units and decisive actions to optimise our portfolio over time. Mativ has tremendous potential, and, as we celebrate this new beginning, I want to recognise the efforts of our outstanding employees who work tirelessly every day to push the limits of what is possible.”

Mativ will disclose financial results for two reporting segments – Advanced Technical Materials (ATM) and Fiber-Based Solutions (FBS). The ATM segment is comprised of five non-reporting business units: Filtration, Protective Solutions, Release Liners, Healthcare and Industrials. This segment generally represents the combination of SWM’s legacy Advanced Materials and Structures and Neenah’s Technical Products reporting segments. ATM will deliver solutions that filter and purify air and liquids, support adhesive and protective applications, advance healing and wellness, and solve some of material science’s most demanding performance needs.

The FBS segment will represent SWM and Neenah’s respective legacy paper segments. FBS will leverage the combined company’s extensive natural fibre capabilities to provide speciality solutions for various end-uses, including sustainable packaging, imaging and communications, home and office, and consumer goods, among other applications.

www.mativ.com