Mativ Announces Completion of Sale of Engineered Papers Business
01 Dicembre 2023 - 1:05PM
Business Wire
Mativ Holdings, Inc. (NYSE: MATV) announced today that it has
completed the sale of its Engineered Papers business to Evergreen
Hill Enterprise, Pte. Ltd.
Julie Schertell, CEO of Mativ, commented, “We are very pleased
with the completion of the sale of Engineered Papers. They have a
great team and strategy in place for a successful future. For
Mativ, this is an important part of unlocking our strategy to
become a leading manufacturer of specialty materials. As we head
into 2024, over 80% of our revenue will be from our Advanced
Technical Materials segment, where we have strong positions in
large, growing, profitable markets.”
The net impact of the transaction on Mativ’s debt is expected to
be a reduction of more than $600 million, which equates to
approximately 35% of Mativ’s outstanding debt balance as of the end
of the third quarter, and is subject to customary post-closing
adjustments. This debt reduction is expected to be effective early
December 2023.
“This transaction fully aligns with our commitment to continued
debt reduction and operational focus in attractive markets that
accelerate our growth and expand our margins,” stated Schertell.
“It marks a key milestone in the transformation of Mativ and aligns
with our strategy to focus our efforts, accelerate growth, and
drive value for our shareholders.”
About Mativ
Mativ Holdings, Inc. is a global leader in specialty materials
headquartered in Alpharetta, Georgia. The company makes material
impacts on the world every day through a wide range of critical
components and engineered solutions that solve our customers’ most
complex challenges. We manufacture on three continents and generate
sales in nearly 100 countries through our family of
business-to-business and consumer product brands. The company’s two
operating segments, Advanced Technical Materials and Fiber-Based
Solutions, target premium applications across diversified and
growing end-markets, from filtration to healthcare to sustainable
packaging and more. Our broad portfolio of technologies combines
polymers, fibers, and resins to optimize the performance of our
customers’ products across multiple stages of the value chain. Our
leading positions are a testament to our best-in-class global
manufacturing, supply chain, and materials science capabilities. We
drive innovation and enhance performance, finding potential in the
impossible.
Forward-Looking
Statements
This press release contains forward-looking statements within
the meaning of the Private Securities Litigation Reform Act of 1995
(the “Act”) that are subject to the safe harbor created by that Act
and other legal protections. Forward-looking statements include,
without limitation, those regarding Mativ’s anticipated paydown of
its outstanding debt.
These forward-looking statements are prospective in nature and
not based on historical facts, but rather on current expectations
and on numerous assumptions regarding the business strategies and
the environment in which Mativ will operate in the future and are
subject to risks and uncertainties that could cause actual results
to differ materially from those expressed or implied by those
statements. No assurance can be given that such expectations will
prove to have been correct and persons reading this press release
are therefore cautioned not to place undue reliance on these
forward-looking statements which speak only as at the date of this
press release. These statements are not guarantees of future
performance and involve certain risks and uncertainties, and
assumptions that may cause actual results to differ materially from
our expectations as of the date of this release. Mativ undertakes
no obligation, other than as may be required by law, to update or
revise any forward-looking or cautionary statements to reflect
changes in assumptions, the occurrence of events, unanticipated or
otherwise, or changes in future operating results over time or
otherwise. Also see the information under the captions “Risk
Factors” and “Management’s Discussion and Analysis of Financial
Condition and Results of Operations” in Mativ’s most recent annual
report on Form 10-K for the year ended December 31, 2022 and any
material updates to these factors contained in any of Mativ’s
future filings with the U.S. Securities and Exchange
Commission.
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version on businesswire.com: https://www.businesswire.com/news/home/20231201788265/en/
Investors Chris Kuepper, IRC Director, Investor Relations
+1-770-569-4229 investors@mativ.com Media: Brendan Streich VP,
Global Communications media@mativ.com
Grafico Azioni Mativ (NYSE:MATV)
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Da Ago 2024 a Set 2024
Grafico Azioni Mativ (NYSE:MATV)
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Da Set 2023 a Set 2024