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.”
UPM Raflatac, a global supplier of innovative and more sustainable self-adhesive paper and film products, recently won the 2023 Calvin Frost Elevation Sustainability Award at the 2023 Tag and Label Manufacturers Institute, Inc. (TLMI) Annual Meeting. This award acknowledges TLMI members that have made significant strides in environmental and social aspects of sustainability.
“This award is a testament to our sustainability commitments and industry leadership. We are honored to be recognized by such a prestigious organization in the world of packaging and labels,” stated Christian Szameit, National Sales Director, UPM Raflatac Americas.
UPM Raflatac works in many areas to demonstrate its commitment to sustainability. The company is making huge strides towards its 2030 commitments, including progress towards their certified paper commitment, as well as towards their CO2e reduction targets.
This year EcoVadis has recognised UPM with a platinum score based on the company’s sustainability performance in the following four categories: Environment, Labour and human rights, Ethics and Sustainable procurement. Only one per cent of the 100,000 global companies assessed received platinum.
more at: https://www.upm.com/about-us/for-media/releases/2023/11/upm-raflatac-wins-2023-tlmi-calvin-frost-elevation-sustainability-award/