Mativ Holdings Completes Sale Of Engineered Papers Business

(RTTNews) - Mativ Holdings, Inc. (MATV), a maker and seller of specialty materials, said on Friday that it has completed the sale of its Engineered Papers business to Evergreen Hill Enterprise, Pte. Ltd.

Julie Schertell, CEO of Mativ, commented, "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."

In August, Mativ had announced the sale of its Engineered Papers business for $620 million to Evergreen Hill.