Neenah Paper spins off
Neenah Paper Inc., based in Alpharetta, GA, USA, recently completed a tax-free spin-off from Kimberly-Clark. Neenah Paper’s common stock began trading on a stand-alone basis December 1. The new public company includes Neenah Paper, a writing, text and cover business; Technical Paper, a producer of durable, saturated and coated base papers; and a Canadian pulp business.
Neenah Paper manufactures and distributes premium and specialty paper grades, including Classic, Environment, Kimdura, and Munising LP papers. The company also produces bleached pulp, primarily for use in the manufacture of tissue and writing papers. It has operations in Wisconsin, Michigan, Ontario and Nova Scotia, and employs 21,000 people.