EX-99.1
2
a10-6298_1ex99d1.htm
EX-99.1
EXHIBIT
99.1
Contact:
Neenah
Paper, Inc.
Bill
McCarthy
Vice
President - Financial Analysis and Investor Relations
678-518-3278
Neenah Paper Completes Sale of Timberlands for C$82,500,000
ALPHARETTA,
GEORGIA - March 12, 2010 - Neenah Paper, Inc. (NYSE: NP) today
announced it had completed the previously announced sale of its remaining
475,000 acres of timberlands in Nova Scotia for C$82.5 million to Northern Pulp
Nova Scotia, through their affiliate, Northern Timber Nova Scotia. Cash
received at closing was used to reduce debt. A pre-tax book gain on the sale of
approximately $75 million will be recognized in the first quarter as well as a
non-cash gain of $88 million for the reclassification of deferred foreign
currency translation gains from accumulated other comprehensive income. Both of
these gains will be recorded as income from Discontinued Operations.
About Neenah Paper, Inc.
Neenah Paper is a leading global manufacturer of
premium, performance- based papers and specialty products used in a variety of
applications including filtration, printing and writing, and as backing and
component materials for many specialized industrial and consumer applications.
Products are marketed under well-known brands such as CLASSIC®, ENVIRONMENT®,
CRANE®, KIMDURA®, Gessner®, JET-PRO® SofStretch™ and varitess®. Based in
Alpharetta, Georgia, the company has paper manufacturing operations in the
United States and Germany. Additional information about Neenah Paper can be
found at the company's web site,
www.neenah.com
.
Cautionary Note Regarding Forward-Looking
Statements
Certain statements in this press release may
constitute "forward-looking" statements as defined in Section 27A of the
Securities Act of 1933 (the "Securities Act"), Section 21E of the
Securities Exchange Act of 1934 (the "Exchange Act"), the Private Securities
Litigation Reform Act of 1995 (the "PSLRA"), or in releases made by the
Securities and Exchange Commission, all as may be amended from time to time.
Statements contained in this press release that are not historical facts may be
forward-looking statements within the meaning of the PSLRA. Any such
forward-looking statements reflect our beliefs and assumptions and are based on
information currently available to us and are subject to risks and
uncertainties that could cause actual results to differ materially including,
but not limited to: (i) worldwide economic conditions, which have
deteriorated significantly in the U.S., Germany and many other countries and
regions, (ii) significant capital and credit market volatility and
deterioration, (iii) U.S. dollar/Euro and other exchange rates, (iv) changes
in prices for pulp, energy, latex and other raw materials, (v) the
cost or availability of raw materials, (vi) unanticipated
expenditures related to the cost of compliance with environmental and other
governmental regulations and (vii) the ability of the company to realize
anticipated cost savings. These and other factors that could cause or
contribute to actual results differing materially from any forward-looking
statements are discussed in more detail in our other filings with the
Securities and Exchange Commission.
Forward-looking statements are only predictions and involve known and
unknown risks, uncertainties and other factors that may cause our actual
results, performance or achievements, or industry results, to be materially
different from any future results, performance or achievements expressed or
implied by such forward-looking statements. We undertake no obligation to
publicly update any forward-looking statements, whether as a result of new
information, future events or otherwise.
These cautionary statements are being made pursuant to the Securities
Act, the Exchange Act and the PSLRA with the intention of obtaining the
benefits of the "safe harbor" provisions of such laws. Neenah Paper, Inc.
cautions investors that any forward-looking statements we make are not
guarantees or indicative of future performance.
2

EX - 99 . 1 2 a10 - 6298 _ 1ex99d1 . htm EX - 99 . 1 EXHIBIT 99 . 1 Contact : Neenah Paper , Inc . Bill McCarthy Vice President - Financial Analysis and Investor Relations 678 - 518 - 3278 Neenah Paper Completes Sale of Timberlands for C$ 82,500,000 ALPHARETTA , GEORGIA - March 12 , 2010 - Neenah Paper , Inc . ( NYSE : NP ) today announced it had completed the previously announced sale of its remaining 475,000 acres of timberlands in Nova Scotia for C$ 82.5 million to Northern Pulp Nova Scotia , through their affiliate , Northern Timber Nova Scotia . Cash received at closing was used to reduce debt . A pre - tax book gain on the sale of approximately $ 75 million will be recognized in the first quarter as well as a non - cash gain of $ 88 million for the reclassification of deferred foreign currency translation gains from accumulated other comprehensive income . Both of these gains will be recorded as income from Discontinued Operations . About Neenah Paper , Inc . Neenah Paper is a leading global manufacturer of premium , performance - based papers and specialty products used in a variety of applications including filtration , printing and writing , and as backing and component materials for many specialized industrial and consumer applications . Products are marketed under well - known brands such as CLASSIC ® , ENVIRONMENT ® , CRANE ® , KIMDURA ® , Gessner ® , JET - PRO ® SofStretch ™ and varitess ® . Based in Alpharetta , Georgia , the company has paper manufacturing operations in the United States and Germany . Additional information about Neenah Paper can be found at the company 's web site , www.neenah.com . Cautionary Note Regarding Forward - Looking Statements Certain statements in this press release may constitute " forward - looking " statements as defined in Section 27A of the Securities Act of 1933 ( the " Securities Act " ) , Section 21E of the Securities Exchange Act of 1934 ( the " Exchange Act " ) , the Private Securities Litigation Reform Act of 1995 ( the " PSLRA " ) , or in releases made by the Securities and Exchange Commission , all as may be amended from time to time . Statements contained in this press release that are not historical facts may be forward - looking statements within the meaning of the PSLRA . Any such forward - looking statements reflect our beliefs and assumptions and are based on information currently available to us and are subject to risks and uncertainties that could cause actual results to differ materially including , but not limited to : ( i ) worldwide economic conditions , which have deteriorated significantly in the U . S . , Germany and many other countries and regions , ( ii ) significant capital and credit market volatility and deterioration , ( iii ) U . S . dollar / Euro and other exchange rates , ( iv ) changes in prices for pulp , energy , latex and other raw materials , ( v ) the cost or availability of raw materials , ( vi ) unanticipated expenditures related to the cost of compliance with environmental and other governmental regulations and ( vii ) the ability of the company to realize anticipated cost savings . These and other factors that could cause or contribute to actual results differing materially from any forward - looking statements are discussed in more detail in our other filings with the Securities and Exchange Commission . Forward - looking statements are only predictions and involve known and unknown risks , uncertainties and other factors that may cause our actual results , performance or achievements , or industry results , to be materially different from any future results , performance or achievements expressed or implied by such forward - looking statements . We undertake no obligation to publicly update any forward - looking statements , whether as a result of new information , future events or otherwise . These cautionary statements are being made pursuant to the Securities Act , the Exchange Act and the PSLRA with the intention of obtaining the benefits of the " safe harbor " provisions of such laws . Neenah Paper , Inc . cautions investors that any forward - looking statements we make are not guarantees or indicative of future performance . 2
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