Kimberly-Clark completes Neenah spin-off
December 6, 2004 By Pulp & Paper Canada
Kimberly-Clark’s Neenah Paper spin-off is completed. The distribution of 100% of Neenah Paper common stock to Kimbe…
Kimberly-Clark’s Neenah Paper spin-off is completed. The distribution of 100% of Neenah Paper common stock to Kimberly-Clark shareholders sealed the deal.
Neenah Paper manufactures and distributes premium and specialty paper grades, with 50% of its resources directed to its pulp business. Although the company is headquartered in Atlanta, Georgia, it operates mills in Nova Scotia and Terrace Bay, ON.
Kimberly-Clark shareholders received one share of Neenah Paper common stock for every 33 shares of Kimberly-Clark common stock held as of November 19th, 2004. As of December 1st, 2004, each company’s shares trade on a stand-alone basis.
The move will permit Kimberly-Clark to invest its resources in its core health and hygiene businesses.
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