Welcome to our dedicated page for Mativ Holdings news (Ticker: MATV), a resource for investors and traders seeking the latest updates and insights on Mativ Holdings stock.
Mativ Holdings, Inc. (symbol: MATV) is a diversified global producer specializing in premium specialty papers and advanced resin-based products. The company operates in two main segments: Advanced Materials and Structures and Engineered Papers.
The Advanced Materials and Structures segment focuses on the production of resin-based rolled goods used in diverse applications such as filtration, infrastructure, construction, transportation, industrial, and medical markets. This segment has grown significantly through strategic acquisitions, including DelStar Technologies in 2013 and Argotec in late 2015, among others. These acquisitions have expanded Mativ's product portfolio and market reach.
The Engineered Papers segment produces high-quality cigarette papers and reconstituted tobacco products essential for the tobacco industry, which continues to be a key focus area for the company. In addition to tobacco products, this segment also manufactures various non-tobacco specialty paper products.
Mativ Holdings conducts business in over 90 countries and employs around 3,000 people globally. Its operational footprint spans the United States, United Kingdom, France, Russia, Spain, Luxembourg, Brazil, Canada, Poland, and China, including joint ventures in select regions.
The company is in the midst of a strategic transformation aimed at diversifying its product offerings and reducing dependency on the tobacco industry. Recent achievements, including successful acquisitions and expansion into new market segments, underscore Mativ's commitment to innovation and growth.
Financially, Mativ Holdings remains robust, leveraging its diversified portfolio to withstand market fluctuations. Its long-standing partnerships and continuous investment in advanced materials and technologies position the company as a leader in both traditional and emerging markets.
Mativ Holdings (NYSE: MATV) announced the appointment of John K. Stipancich as an independent member of its board of directors, effective June 13, 2024. Stipancich will also join the Board's audit committee. Currently serving as Executive VP, General Counsel, and Secretary of Roper Technologies, Inc., Stipancich brings over 30 years of legal, operational, and financial expertise.
Previously, he held key leadership roles at Newell Brands and other companies. Stipancich's appointment follows the decision of Director Jeffrey J. Keenan to step down on June 12, 2024, after eight years of service. Mativ's leadership expressed gratitude for Keenan's contributions and welcomed Stipancich's potential to drive future growth and shareholder value.
Mativ Holdings, Inc. reported earnings for the first quarter of 2024, excluding Engineered Papers business sales. Sales increased sequentially by 10.6% to $500.2 million. GAAP loss was $(28.0) million with Adjusted EBITDA down 6% at $45.8 million. Filtration & Advanced Materials segment sales decreased by 8%, and Sustainable & Adhesive Solutions segment sales were down 9%. The company is focused on reducing costs, streamlining operations, and delivering improved EBITDA for 2024.
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