ALPHARETTA, Ga.— Schweitzer-Mauduit International, Inc. (SWM) and Neenah, Inc., two global manufacturers of specialty materials, have merged and will operate as Mativ Holdings, Inc. effective July 6.
Mativ has approximately $3 billion in sales, supporting customers in more than 100 countries, and manufacturing capabilities on four continents. The company will commence trading on the New York Stock Exchange (NYSE) at the market open, under the new ticker symbol “MATV.”
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.
“This merger is a unique opportunity to boldly reimagine our future as a stronger and faster-growing global enterprise,” said Julie Schertell, president and CEO of Mativ, formerly president and CEO of Neenah. “As we come together, we see significant near and long-term value creation opportunities to accelerate growth and amplify margins.
Strategic touch-points in key market categories, complementary geographies and technologies, increased global scale, and a passionate workforce make the organizations ideally suited to come together, she said.
“We have assembled an exceptional, diverse, and experienced leadership team, and we look forward to working with Julie and her talented group of leaders to deliver on the promise of this transaction,” said Dr. John Rogers, chairman of Mativ’s board of directors.
