Neenah Paper (NP), a global manufacturer of technical products and fine papers, recently signed a partnership deal with Italian high quality fine papers manufacturer Gruppo Cordenons for an undisclosed amount. According to the deal, Neenah will be marketing and distributing Cordenons papers to the U.S. and Canada, while Cordenons will carry on with manufacturing fine business papers at its Italy facilities.
The partnership is a win-win situation for both the companies. Neenah’s papers combine innovative technology with in-depth business expertise to provide high quality and unique products to its clients. Cordenons has been making exquisite papers for nearly four centuries. Cordenons’s papers are thick and heavy and are used by clients for business cards, greeting cards, covers, presentation folders, tags, invitations, social announcements and similar such purposes. This partnership will further help Gruppo Cordenons to strengthen its position globally and reach out to newer markets via Neenah. Based on this partnership both these companies will be able to offer distributors premium business products, which will add value and drive their businesses.
Based in Alpharetta, Ga, Neenah offers premium image and performance-based products such as filtration, specialized substrates used for tapes, labels and other products, and high-end printing papers. In the last reported quarter, Neenah reported revenues of $213.2 million, up 8% year over year. The year-over-year increase was attributable to growth in Fine Paper, aided by additional volumes from acquired brands.
Neenah has a Zacks Rank #3 (Hold). Other stocks that look promising in the industry and are worth a look now include Fibria Celulose SA. (FBR), Orchids Paper Products Company (TIS) and Rock-Tenn Company (RKT), each carrying a Zacks Rank #2 (Buy).
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