1. PRICING ANNOUNCEMENT:
Neenah is announcing a price increase of approximately 2% on select Commercial Brands of paper and envelopes. The list below provides information for all brands that are being increased.
2. NON-REPLENISHED SKU ANNOUNCEMENT:
In our continuing effort to provide best-in-class service to you on our core brands and our high performing items, we will no longer be replenishing select under-performing skus from our portfolio. The impacted items will be available while supplies last. Click Read More below for additional information.
Mativ Holdings, Inc. announced the appointment of Shruti Singhal, current member of Mativ’s Board of Directors, as President and Chief Executive Officer, effective today. Mr. Singhal succeeds Julie Schertell, who has stepped down as President and Chief Executive Officer, and as a director. Mr. Singhal brings extensive expertise leading transformations through strong operational and commercial execution, profitability initiatives, and driving innovation. He previously served as CEO of Galata Chemicals and Chroma Color, and has held roles of increasing responsibility at global businesses including DSM, General Cable, Solenis, Ashland, The Dow Chemical Company, Rohm and Haas, Cognis (now BASF) and Henkel. “Mativ has a strong core business with innovative and differentiated specialty materials products and strategic initiatives in place to enhance profitability and drive growth,” said Dr. Kimberly E. Ritrievi, Chair of the Board of Directors. “We recognize the need to accelerate the pace of execution, lower costs, improve cash flow and reduce leverage. Shruti brings decades of experience leading corporate turnarounds and a track record of driving strong financial and operating performance in global industrial organizations. We are confident Shruti is the right person to drive the business forward with urgency and ensure the Company reaches its full potential.”
Label and Graphic Materials - Reported sales increased 8% to $1.5 billion. Sales were up 14% ex. currency and 15% on an organic basis. Retail Branding and Information Solutions - Reported sales increased 24% to $658 million. Sales were up 27% ex. currency and 5% on an organic basis. Industrial and Healthcare Materials - Reported sales increased 1% to $198 million. Sales were up 5% ex. currency and 7% on an organic basis reflecting a mid-single digit increase in industrial categories and a high teens increase in healthcare categories.