4 May 2022
Neenah Papers Merging With Schweitzer-Mauduit
Major player in text and cover sheets
Major player in text and cover sheets
Neenah Paper and Schweitzer-Mauduit have agreed to merge, bringing together two manufacturers of specialty materials whose combined revenues are expected to be around $3 billion. Both companies are former spinoffs from Kimberly-Clark Corp., the Kleenex, Cottonelle, Scott and Huggies paper-based products. SWM was spun off in the mid-’90s and Neenah became independent in 2004. Neenah makes specialty paper, coatings and other materials for digital, packaging and other applications.
Film and substrates manufacture
Film and substrates manufacture
It had 2,493 full-time employees as of Dec. 31, 2021. SWM makes films, tapes, foams, nets, nonwovens and papers for a variety of industries. It had 5,100 full-timers as of Dec. 31, 2021. Julie Schertell, CEO of Neenah, will serve in the same role for combined company. Dr. Jeff Kramer, CEO of SWM, will serve as a strategic advisor. A new name for the merged entity will be announced at a later date. The deal is expected to close in the second half of 2022, subject to shareholder and regularly approvals.
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