Alpharetta, Georgia, USA, 01 February 2012 -- (BUSINESS WIRE) -- Neenah Paper (NYSE: NP) purchased of the branded premium paper portion of Wausau's Fine Paper division on 31 January 2012, including various Astro and Royal brands, along with exclusive license rights for a portion of Exact brand specialty business.
"The acquisition of Wausau brands strengthens the breadth of our existing Fine Paper business with added scale in the marketplace, prospects for growth in new channels such as retail, and the opportunity to provide our customers with better service," said Julie Schertell, president, Neenah Fine Paper.
"Astrobrights is the market leading brand in the bright, vivid color segment of our market. We are excited to add this strong brand to our portfolio, as well as the complimentary textures in the Royal brand family. I'm very pleased with our customers' responses following our initial announcement, as well as the support we have received from the Wausau organization throughout the initial transition phase. As of today, we are taking orders on our new brands and we're well-positioned for a smooth transition with our customers."
Neenah's primary focus in the coming months will continue to be the integration effort.
For more than 100 years, Neenah Paper (NYSE: NP) has been an innovative leader in the creation and manufacturing of premium, specialty and sustainable papers used for premium writing, text, cover, private watermarks, and specialty needs. The company also produces envelopes in thousands of unique styles. Neenah is committed to developing relevant mobile and online technologies, including the new desktop tool Neenah Paper Cabinet. With multiple manufacturing facilities in Wisconsin, prime importance is also placed on recycled and alternative fiber products through the Neenah Green initiative. Visit www.neenahpaper.com for more information.