Kimberly-Clark Completes Neenah Paper Spin-Off
November 30 2004 - 5:04PM
PR Newswire (US)
Kimberly-Clark Completes Neenah Paper Spin-Off DALLAS, Nov. 30
/PRNewswire-FirstCall/ -- Kimberly-Clark Corporation (NYSE:KMB)
today completed the previously announced tax-free spin-off of its
paper and Canadian pulp operations, now known as Neenah Paper Inc.
(NYSE:NP), by distributing 100 percent of the common stock of
Neenah Paper to Kimberly- Clark shareholders. Kimberly-Clark
shareholders received one share of Neenah Paper common stock for
every 33 shares of Kimberly-Clark common stock held as of Nov. 19,
2004. Beginning tomorrow morning, each company's shares will trade
on a stand-alone basis. With the spin-off of Neenah Paper and the
previous sale of several other operations, Kimberly-Clark is now
squarely focused on its core health and hygiene businesses.
Additional shareholder information about the spin-off is available
at: http://www.kimberly-clark.com/news/paperspinoff.asp . About
Kimberly-Clark Kimberly-Clark and its well-known global brands are
an indispensable part of life for people in more than 150
countries. Every day, 1.3 billion people -- nearly a quarter of the
world's population -- trust K-C's brands and the solutions they
provide to enhance their health, hygiene and well-being. With
brands such as Kleenex, Scott, Huggies, Pull-Ups, Kotex and Depend,
Kimberly- Clark holds the No. 1 or No. 2 share position in more
than 80 countries. To keep up with the latest K-C news and to learn
more about the company's 132-year history of innovation, visit
http://www.kimberly-clark.com/ . About Neenah Paper Neenah Paper
manufactures and distributes a wide range of premium and specialty
paper grades, with leading positions in many of its markets and
well-known brands such as CLASSIC(R), ENVIRONMENT(R), KIMDURA(R)
and MUNISING LP(R) Papers. The Company also produces and sells
bleached pulp, primarily for use in the manufacture of tissue and
writing papers. Neenah Paper is based in Alpharetta, Georgia, and
has operations in Wisconsin, Michigan and in the Canadian provinces
of Ontario and Nova Scotia. Additional information about Neenah
Paper can be found in the Form 10 statement filed with the U.S.
Securities and Exchange Commission and, following the distribution,
at the Company's web site at http://www.neenah.com/ .
http://www.newscom.com/cgi-bin/prnh/19991117/KMBLOGO DATASOURCE:
Kimberly-Clark Corporation CONTACT: media, Dave Dickson,
+1-972-281-1481, or , or investor relations, Mike Masseth,
+1-972-281-1478, or , both of Kimberly-Clark Corporation Web site:
http://www.kimberly-clark.com/
http://www.kimberly-clark.com/news/paperspinoff.asp
http://www.neenah.com/
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