Company: MATV
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001000623-25-000009
Chunk: 3

Company: Mativ Holdings, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 1
Chunk 3
---
 $65.0 million of synergies expected from the transaction, and we are continuing to execute on plans for incremental value. These savings included selling, general and administrative reductions (including redundant public company costs), supply chain efficiencies (including procurement, logistics and operating optimization) and other cost reductions, such as purchase services and leased office consolidation. Further, we are executing on significant incremental revenue opportunities. We continue to identify strategic cross-selling opportunities and innovation in key categories like filtration, healthcare, release liners and tape. We also see geographic expansion as a growth opportunity to complement our expanded footprint in Asia, North America and Europe, demonstrated by recent growth investments in our sites in Italy, Canada, the United Kingdom and Mexico. Lastly, we are leveraging a more comprehensive value chain position, where we believe we can cross-source and present a more complete offerings to our customers.

Transform the portfolio.  We focus our investments, resources and efforts towards categories with the highest value-creation potential, focused on growth and margin-accretive opportunities. We actively manage elements of our portfolio that are non-core, margin dilutive or do not align with our growth ambitions. We strategically divested our Engineered Papers business in November 2023 for $620.0 million in cash, subject to customary closing date adjustments, moving us away from tobacco-based product markets and freeing up resources to focus on more growth-oriented aspects of our portfolio. We also closed or divested a number of smaller, non-strategic sites. We have since redeployed capital to repay debt and invest in categories that are geographically expansive and products where we see additional opportunities for growth. We installed a new melt blown line in Germany that started in the first quarter of 2024, and we expect two extrusion lines to start up in late 2025, all in support of growth in transportation and water filtration. Further, we continue to onboard new business on our coater in Mexico that started in late 2023, which supports accelerated release liner growth in North and South America. We also expect a new hot-melt line in Italy to start up in late 2025 in support of accelerated growth in the automotive tape business for our electric vehicle and internal combustion engine platforms; and we are implementing a new athletic tape line in Canada to start up in early 2026 in support of the quickly growing athletic and sports tape business. Lastly, a new medical films line in the United Kingdom is scheduled to start up and begin customer qualification in Q1 of 2025 to accommodate the growing demand trends