Profile: Neenah Paper Inc (NP.N)
10 Mar 2014
Neenah Paper, Inc. (Neenah), incorporated in April 2004, has two primary operations: technical products business and fine papers business. The Company’s technical products business is a producer of transportation and other filter media and coated substrates for industrial products backings and a variety of other end markets. Its customers are located in more than 70 countries. The Company’s technical products manufacturing facilities are located in Munising, Michigan and near Munich and Frankfurt, Germany. The Company’s fine paper business is the supplier of writing, text and cover papers, bright papers and specialty papers in North America. The Company’s writing, text, cover and specialty papers are used in commercial printing and imaging applications for corporate identity packages, invitations, personal stationery and corporate annual reports, as well as labels and packaging. It sells its products primarily to authorized paper distributors, converters and specialty businesses. Its fine paper manufacturing facilities are located in Appleton, Neenah and Whiting, Wisconsin. On January 31, 2012, the Company purchased certain fine paper brands and other assets from Wausau Paper Mills, LLC, a subsidiary of Wausau Paper Corp. (Wausau). On January 31, 2013, it purchased certain business paper brands from the Southworth Company.
The technical products business is a producer of filtration media and coated substrates for a variety of end-uses. Its technical products are sold to other manufacturers as key components for their finished products. Several of its key market segments served includes filtration, tape and abrasives. JET-PRO SofStretch, KIMDURA, MUNISING LP, PREVAIL, NEENAH, GESSNER and varitess are brands of its technical products business. Filtration media primarily for induction air, fuel, oil, and cabin air applications in automotive transportation. Transportation filtration media are sold to suppliers of automotive companies as original equipment on new cars and trucks, as well as to the automotive aftermarket, which represents the majority of sales. This business is primarily in Europe. Its technical products business had net sales of approximately $421 million during e year ended December 31, 2011.
Tape, including both saturated and unsaturated crepe and flat paper tapes are sold to manufacturers to produce finished pressure sensitive products for sale in automotive, transportation, manufacturing, building construction, and industrial general purpose applications, including sales in the consumer-do-it-yourself retail channel. Finished lightweight abrasive paper is sold in the automotive, construction, metal and woodworking industries for both waterproof and dry sanding applications. Wall covering substrates made from saturated and coated wet-laid nonwovens are marketed to converters serving primarily European commercial and consumer-do-it-yourself markets.
Label and tag products are made from both saturated base label stock and purchased synthetic base label stock, with coatings applied to allow for variable and digital printing. Label and tag stock is sold to pressure sensitive coaters, who in turn sell the coated label and tag stock to the label printing community. Other latex saturated and coated papers are used by a variety of manufacturers. Premask paper is used as a protective over wrap for products during the manufacturing process and for applying signs, labeling and other finished products. Medical packaging paper is a polymer impregnated base sheet. Image transfer papers to transfer an image from paper to tee shirts, hats, coffee mugs, and other surfaces using an imaging coating for use in digital printing applications. Image transfer papers are primarily sold through retail outlets and through distributors. Decorative components papers are made from light and medium weight latex saturated papers, which can then be coated for printability. Decorative components papers are primarily sold to coater converters, distributors, publishers and printers for use in book covers, stationery and fancy packaging. Other products include clean room papers, durable printing papers, release papers and furniture backers.
The Company competes with Ahlstrom Corporation, Munksjo, ArjoWiggins SAS, Wausau Paper Corp., Hollingsworth & Vose Company, Monadnock Paper Mills, Inc., Fortress Paper, Ltd., Potsdam Specialty Paper, Inc. and Paper Line S.p.A.
The fine paper business manufactures and sells writing, text, cover and specialty papers and envelopes used in corporate identity packages, invitations, personal stationery and corporate annual reports, as well as, labels and packaging. Its fine paper business had net sales of approximately $275 million during 2011. Writing papers are used for business and personal stationery, corporate identity packages and similar end-use applications. Its fine paper business has an agreement to manufacture, market and distribute Crane & Co.'s CRANE'S CREST, CRANE'S BOND, CRANE'S LETTRA, CRANE'S PALETTE and CRANE'S Choice Papers branded fine papers. The fine paper business also sells private watermarked paper and other specialty writing papers.
Text and cover papers and envelopes are used in applications, such as corporate brochures, pocket folders, corporate annual reports, advertising inserts, direct mail, business cards, hang tags, scrapbooks, and a variety of other uses where colors, textured finishes or heavier weight papers are desired. The Company’s brands in this category include CLASSIC, CLASSIC CREST, STARWHITE, SUNDANCE, ESSE and ENVIRONMENT. It also sells a variety of custom colors, paper finishes, and duplex/laminated papers. The fine paper business also produces and sells other specialty papers; including envelopes, label base stock for applications, such as wine labels, packaging, and specialty paper products.
The Company competes with Mohawk Fine Papers Inc.
Neenah Paper Inc
Suite 600, 3460 Preston Ridge Ro
ALPHARETTA GA 30005