Welcome to our dedicated page for Matthews Intl news (Ticker: MATW), a resource for investors and traders seeking the latest updates and insights on Matthews Intl stock.
Matthews International Corp. reports developments from two core global businesses: Memorialization and Industrial Technologies. Memorialization news centers on memorials, caskets, cremation and incineration equipment, cemetery and funeral home customers, pricing, volume trends, acquisitions and productivity initiatives. Industrial Technologies updates include marking technologies, MPERIA® Axian Inkjet systems and proprietary dry battery electrode solutions for battery manufacturing.
Company releases also cover quarterly results, dividends on Class A common stock, debt refinancing and debt reduction, the Propelis brand solutions investment, governance actions approved at shareholder meetings and arbitration-related disclosures tied to dry battery electrode equipment.
On June 26, 2020, Matthews International Corporation (MATW) sold its noncontrolling interest in a pet cremation services business for $57.2 million. The sale included $42.2 million in cash and $15.0 million in preferred stock. This transaction aligns with the company's strategy to boost cash flow and reduce debt, especially during the adverse effects of COVID-19. Additionally, the company recently sold a property for $11.25 million, expected to significantly lower its consolidated net debt by the end of fiscal 2020.