Profile: Neenah Paper, Inc. (NP)

Neenah Paper, Inc. (Neenah), incorporated in April 2004, is a producer of fine papers and technical products. The Company operates in two segments: fine paper business and technical products business. The Company owns approximately 500,000 acres of timberlands in Nova Scotia, Canada. Neenah’s fine paper business is a producer of writing, text, cover and specialty papers used in corporate identity packages, corporate annual reports, invitations, personal stationery and packaging for point of purchase advertising. Its technical products business is a producer of transportation and other filter media, saturated and coated substrates for a range of end uses, and nonwoven wall coverings. In June 2008, the Company sold its pulp mill located in Pictou, Nova Scotia, Canada.

Fine Paper Business

The Company sells its products primarily to authorized paper distributors, converters and specialty businesses. Neenah’s fine paper manufacturing facilities are located in Appleton, Neenah and Whiting, Wisconsin, and Ripon, California. Text and cover papers are used in applications, such as corporate identity packages, corporate annual reports, insert advertising, direct mail, facility brochures, business cards, hang tags, scrapbooks, and a range of other uses where colors, textured finishes or heavier weight papers are desired. The Company’s brands in this category include CLASSIC, CLASSIC CREST, SUNDANCE, CORONADO, ESSE, ENVIRONMENT and STARWHITE. It also sells a range of custom paper colors, paper finishes and duplex/laminated papers. The fine paper business produces and sells other specialty papers, including translucent papers, art papers, papers for optical scanning and other specialized applications, under the UV/ULTRA II trademark and other brands.

Technical Products Business

Neenah’s technical products business is organized into five global strategic business units (SBUs): Tape; Filtration; Component Materials, which includes its abrasives business; Graphics and Identification, and Wall Covering. The Filtration SBU produces filtration media for automotive induction air, fuel, oil, and cabin air applications and vacuum cleaner bags and filters. The Tape SBU produces tape base sheets from latex saturated crepe and flat papers and sells them to manufacturers to produce finished pressure sensitive products for sale in automotive, automotive aftermarket, transportation, manufacturing and building construction, and industrial general purpose applications. The Component Materials SBU is a producer of latex saturated and coated papers for use by a range of manufacturers. The Graphics & Identification SBU produces label and tag products from saturated (latex impregnated) base label stock and purchased synthetic base label stock. The Wall Covering SBU produces a line of substrates made from saturated and coated wet-laid non-wovens and markets to converters serving primarily European commercial and do-it-yourself markets.

The Company competes with Mohawk Fine Papers Inc., Wausau Paper Corp., ArjoWiggins S.A.S., MeadWestvaco Corporation, Hollingsworth & Vose Company, Arkwright, Inc., Ahlstrom Corporation, Monadnock Paper Mills, Inc., Fortress Paper, Ltd and Paper Line S.p.A.