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Schweitzer-Mauduit International, Inc. (SWM) and Neenah, Inc. (NP) have announced a definitive agreement to merge in an all-stock transaction valued at approximately $3 billion. This merger aims to create a global leader in specialty materials, combining their complementary product portfolios and technologies. The deal is expected to yield at least $65 million in annual cost synergies within 24-36 months. Post-merger, SWM shareholders will own around 58% of the new entity, while Neenah shareholders will hold 42%. The merger is anticipated to close in the second half of 2022, pending shareholder and regulatory approvals.
Schweitzer-Mauduit International, Inc. (SWM) reported strong financial growth for 2021, with total sales reaching $1.44 billion, marking a 34% increase year-over-year. However, inflationary pressures and supply chain issues impacted profitability, leading to a GAAP operating profit of $83.3 million, a significant decline from the previous year. Adjusted EPS fell to $3.10 from $3.68. Management anticipates a recovery in 2022, projecting adjusted EPS between $3.50 and $3.95 and adjusted EBITDA growth of 20-30%. The company plans to maintain dividends and improve free cash flow towards historical levels.
Schweitzer-Mauduit International, Inc. (NYSE: SWM) will announce its fourth quarter and full year 2021 results after the market closes on February 23, 2022. A conference call to discuss these results is scheduled for February 24, 2022, at 8:30 a.m. ET. Participants can access the call through the company’s website and a presentation will be available beforehand. A replay of the call will be accessible shortly after its conclusion, with details provided for both live listening and replay options.
Schweitzer-Mauduit International (NYSE: SWM) will announce its fourth quarter and full year 2021 results on February 23, 2022, after market close. A conference call to discuss these results is scheduled for February 24, 2022, at 8:30 a.m. ET. The presentation for the call will be available on the company's website prior to the event. Interested participants can access the live call via the provided web link or by phone, with a replay available shortly after the call for those who cannot attend live. Details on access codes and toll-free numbers for various regions are also included.
SWM (NYSE: SWM) has launched Botani, a new premium hemp and botanical solutions business aimed at the natural fibers industry. Botani specializes in innovative hemp wraps, fillers, and rolling papers, leveraging over 400 years of experience in manufacturing. The company's offerings include self-adhering hemp wrappers, customizable rolling papers, and hemp fillers infused with active ingredients, catering to evolving consumer demands. Botani aims to support manufacturers in delivering premium products while ensuring sustainable practices in the rapidly growing market.
On February 2, 2022, SWM announced a new shared purpose aimed at improving everyday life through innovation and design. The company unveiled a redesigned logo and updated website to reflect its commitment to engineering excellence and modern solutions. SWM focuses on delivering high-performance materials across various industries, employing around 5,000 people globally. CEO Dr. Jeffrey Kramer emphasized the company's role in solving complex challenges, aiming for safer air, cleaner water, and a greener planet.
Schweitzer-Mauduit International (SWM) and ConvaTec Ltd. have entered into a multi-year supply agreement as part of an amicable resolution to ongoing litigation. The agreement signifies a renewed partnership, leveraging SWM’s subsidiary Scapa Healthcare's expertise in advanced wound care products. While the specific terms of the settlement are undisclosed, both companies expressed optimism about collaborating to enhance product offerings in the marketplace, aiming for excellence and innovation in their services.
SWM International has successfully sold its Spotswood, New Jersey facility for approximately $35 million. The net proceeds are earmarked for reducing the company’s debt. This facility closure was part of a strategic transition that began at the end of 2020, where operations were moved to support a new manufacturing technology for key customers. The Spotswood site was previously part of the Engineered Papers segment, with production volumes shifted to other global operations.
Schweitzer-Mauduit International (SWM) reported Q3 2021 earnings, revealing total sales of $383.6 million, a 37.3% increase, but a 1% decrease on an organic basis. Adjusted EPS fell to $0.82, down from $1.16 in the prior year, due to inflationary pressures and supply chain disruptions. CEO Jeff Kramer noted robust demand in Advanced Materials & Structures (AMS), which saw a 10% organic sales growth. However, Engineered Papers (EP) faced a 12% sales decline. The company revised full-year Adjusted EPS guidance below $3.75-$4.05, anticipating a challenging Q4, with expected significant profit rebound in 2022.
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