SWM International Completes Acquisition of Scapa Group Plc
SWM Acquires Scapa Group Plc to enhance its capabilities and growth profile.
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Rhea-AI Summary
SWM Acquires Scapa Group Plc to enhance its capabilities and growth profile. Finalized on April 15, 2021, the acquisition brings SWM's annualized sales close to $1.5 billion. The deal significantly boosts SWM's portfolio in precision-engineered materials and adds advanced design, manufacturing, and coating technologies. SWM now operates in twelve countries with nearly 5,000 employees, aiming to leverage combined resources for integrated customer solutions. CEO Dr. Jeffrey Kramer emphasizes the company's potential for growth in various end-markets.
Positive
- Acquisition of Scapa enhances SWM's portfolio and capabilities.
- Annualized sales now approaching $1.5 billion.
- Expands SWM's operational footprint to twelve countries.
- Increased technical expertise and innovative product offerings.
Negative
- None.
Details
News Market Reaction – SWM
The recorded move for SWM in the trading session of this news was -0.14%.
Data tracked by StockTitan Argus. Session date unavailable.
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Scapa Expands SWM’s Capabilities and Enhances Long-Term Growth Profile
Alpharetta, GA, April 15, 2021 (GLOBE NEWSWIRE) -- Schweitzer-Mauduit International, Inc. (“SWM” or the “Company”) (NYSE: SWM), announced today that it has finalized its acquisition of Scapa Group Plc, a UK-based innovation, design, and manufacturing solutions provider for healthcare and industrial markets. The newly combined company’s annualized sales are approaching
The acquisition adds to SWM’s already extensive portfolio of precision engineered performance materials, significantly expands the Company’s innovation, design, and formulation capabilities, and brings a variety of new coating and converting technologies. The newly combined product and service offerings can be leveraged across SWM’s and Scapa’s global businesses to deliver best-in-class integrated solutions to customers.
SWM CEO Dr. Jeffrey Kramer said, “The combination of Scapa and SWM results in a complementary global organization with robust design and manufacturing capabilities and significant technical expertise. The expanded company is poised to capitalize on the many exciting growth opportunities across our end-markets. We will offer a broader portfolio of products and value-added services to our customers, with a focus on delivering essential materials critical to the performance of their end products.”
With the addition of Scapa, SWM now operates in twelve countries on four continents, with close to 5,000 employees.
About SWM
SWM is a leading global performance materials company, focused on bringing best-in-class innovation, design, and manufacturing solutions to our customers. Our highly engineered films, adhesive tapes, foams, nets, nonwovens, and papers are designed and manufactured using resins, polymers, and natural fibers for a variety of industries and specialty applications. SWM and its subsidiaries manufacture on four continents, conduct business in over 90 countries and employ approximately 5,000 people worldwide. For further information, please visit SWM’s website at www.swmintl.com.
Additional websites:
Investor Contact:
Mark Chekanow
770-569-4229
mchekanow@swmintl.com
Media Contact:
Mary T. Gibson
770-569-4328
mgibson@swmintl.com
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