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Schweitzer-Mauduit International, Inc. (SWM) and Neenah, Inc. (NP) are set to merge in an all-stock transaction, with shareholder votes scheduled for June 29, 2022, and expected closure around July 1, 2022. The newly formed company will be named Mativ, Inc. and trade under the ticker MATV. The merger aims to create over $65 million in synergies, enhancing growth prospects. Julie Schertell, Neenah's current CEO, will lead Mativ post-merger. Antitrust approvals and customary conditions are still pending.
Schweitzer-Mauduit International (SWM) is set to participate in the Sidoti Summer 2022 Virtual Investor Conference on June 16 at 9:15 am E.T. Interested parties can access the live webcast via the provided link or through SWM's investor relations website. SWM is a global performance materials company dedicated to enhancing everyday life with innovative solutions, employing around 5,000 people across four continents and doing business in over 90 countries.
Schweitzer-Mauduit International, Inc. (NYSE: SWM) and Neenah, Inc. (NYSE: NP) have announced their executive leadership structure following their upcoming merger. Julie Schertell will become CEO and join the Board, while Dr. Jeff Kramer will be a strategic advisor. The new company will operate through two segments: Advanced Technical Materials and Fiber-Based Solutions. The merger, valued at approximately $3 billion, is subject to shareholder approval and expected to finalize in H2 2022.
Kaskela Law LLC is investigating potential legal claims for shareholders of Schweitzer-Mauduit International (SWM) following its announcement on March 28, 2022, regarding the acquisition of Neenah, Inc. in an all-stock deal. SWM plans to issue approximately 22.8 million shares to Neenah's shareholders, who would then own 42% of the combined entity. The investigation aims to determine any violations of securities laws or breaches of fiduciary duties related to this transaction.
On May 4, 2022, Schweitzer-Mauduit International, Inc. (SWM) reported Q1 2022 earnings with sales up 41% to $406.8 million and organic sales growth at 5%. GAAP EPS fell to $0.05 from $0.68, while Adjusted EPS decreased to $0.89 from $1.02. The company maintains its 2022 Adjusted EPS guidance of $3.50-$3.95 and aims for 20%-30% Adjusted EBITDA growth. Key achievements include 67% sales growth in Advanced Materials & Structures, despite inflation and supply chain issues. SWM also announced a merger with Neenah, Inc. to enhance its specialty materials business.
Neenah, Inc. reported record net sales of $284.8 million in Q1 2022, a 25% increase year-over-year, mainly due to strong pricing and volume in technical products. Adjusted EBITDA fell to $30.3 million, down from $35.7 million in Q1 2021, as operating income was impacted by rising input costs and a $2 million loss from a fire at a facility. The company remains optimistic, reaffirming full-year adjusted EBITDA guidance of $135-145 million and announcing a merger with SWM to enhance growth and create synergies.
Schweitzer-Mauduit International, Inc. (NYSE: SWM) will release its first quarter 2022 results on May 4, 2022, after market close. A conference call to discuss these results is scheduled for May 5, 2022, at 8:30 a.m. Eastern Time. The company will provide a presentation accessible via its website prior to the call. Participants can listen live by visiting the website or through provided dial-in numbers. A replay will be available post-call until May 12, 2022. For further inquiries, Mark Chekanow, Director of Investor Relations, is available at +1-770-569-4229.
UbiQD, Inc. and Schweitzer-Mauduit International (NYSE: SWM) announced a collaboration to develop a quantum dot glass interlayer aimed at enhancing solar window manufacturing efficiency. This partnership aims to leverage UbiQD's advanced materials technology with SWM's expertise in polymer engineering, facilitating faster, cost-effective production. Both companies highlight the role of renewable energy in reducing electricity use in buildings, which account for 76% of domestic consumption. This development envisions a shift towards net-zero solutions in property management.
On April 25, 2022, Schweitzer-Mauduit International (NYSE: SWM) announced they will release their first quarter 2022 results after market close on May 4, 2022. A conference call to discuss the results is scheduled for May 5, 2022, at 8:30 a.m. ET. Investors can access the presentation via the company's website beforehand. Moreover, a replay of the conference call will be available shortly after its completion, ensuring investors can stay updated on the company's financial performance.
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