Mativ, the new name of the combined company, has approximately US$3 billion in sales, supporting customers in more than 100 countries, and manufacturing capabilities on four continents. The company is headquartered in Alpharetta, Georgia, USA and has 7500 employees worldwide.
“I am extremely excited and proud to mark this important milestone in the journey of our two companies with the formation of Mativ,” said Julie Schertell, president and CEO of Mativ. “This merger is a unique opportunity to boldly reimagine our future as a stronger and faster-growing global enterprise. As we come together, we see significant near and long-term value creation opportunities to accelerate growth and amplify margins.”
“As we bring the best of these two organizations together, our priorities are centered around supporting our customers, accelerating our growth, delivering the US$65 million, or more, of deal-enabled cost synergies, and driving margins and cash flows to support deleveraging and a strong dividend. We will also continue to execute our strategy, including investments in our fastest growing and most profitable business units and decisive actions to optimize our portfolio over time,” added Schertell.
Mativ has started trading on the New York Stock Exchange (NYSE) under the new ticker symbol “MATV.”