ALPHARETTA, Ga., and DALTON, Mass. (Aug. 27, 2009) — Neenah Paper, Inc. (NYSE: NP) and Crane & Co. Inc. today announced they have signed an exclusive partnership agreement for Neenah to manufacture, market and distribute Crane's fine business paper brands: CRANE'S CREST®, CRANE'S BOND®, CRANE'S LETTRA®, CRANE'S PALETTE™ and CRANE'S® Choice Papers.
"Neenah Paper and Crane & Co. have an unwavering and shared commitment to excellence and have formed this partnership based on manufacturing quality, market reputation and the history of two remarkable companies," said John P. O'Donnell, president, Neenah Fine Paper. "Together, we'll be able to offer distributors the preeminent corporate identity and business stationery within the Neenah portfolio, adding value and driving growth to their business."
"We are very pleased to embrace this opportunity with a partner who can offer Crane's business papers best-in-class manufacturing, marketing, promotion and channel excellence," added Charles J. Kittredge, president and CEO of Crane & Co. "This marks a premier partnership of the two top premium brands in the industry."
The agreement is an extension of a partnership Neenah and Crane launched in early 2007. Since then, Neenah has manufactured 100 percent cotton paper for Crane, although the paper continued to be marketed and distributed through Crane & Co.
"Because we've manufactured Crane's business paper for over two years, we understand its longstanding tradition of craftsmanship and quality and how well Crane's products complement our portfolio," O'Donnell noted. "Meaningful brands with a recognized promise drive real value in our category and the marketplace. This association with Crane is an illustration of how we are demonstrating our commitment to both."
Neenah will continue to manufacture the CRANE'S CREST®, CRANE'S BOND®, CRANE'S LETTRA®, CRANE'S PALETTE™ and CRANE'S® Choice Papers. The papers will be available to distributors through Neenah sales representatives beginning late third quarter of 2009.
Both Neenah and Crane & Co. have a strong writing paper heritage that dates back to the 1800s and are integral to the history of papermaking. Neenah, founded in 1873, was the first to introduce the brand watermark, a practice that within a few years became a symbol of authenticity for business and personal correspondence and is still in use today. Nearly 50 years ago, Neenah also introduced the first paper in its CLASSIC® family of papers. CLASSIC CREST® is now the most widely recognized premium uncoated paper in North America. Crane's papers have not only been integral to the history of papermaking, but history itself. The company's roots extend to before the American Revolution — Paul Revere engraved banknotes for the Colony of Massachusetts Bay on Crane paper to help finance the American Revolution — and business correspondence papers made by Crane have been used by heads of state from around the world ever since.
Notes O'Donnell, "The deep history and strong heritage of both Neenah and Crane set us apart in the paper industry. Together, we have over two centuries of papermaking experience and our brands are among the most recognized and preferred social and business papers in North America. "
About Neenah Paper
For over 100 years, Neenah Paper has been an innovative leader in the creation and manufacturing of premium and specialty papers. Neenah's first mill brand watermark, OLD COUNCIL TREE® Bond, was introduced in 1908 and within a few years, using paper with a mill brand watermark became a symbol of authenticity and distinction for business and personal correspondence papers. Today, Neenah brings that same innovative spirit and state-of-the-art technology to its signature brands, CLASSIC®, ENVIRONMENT®, STARWHITE®, CAPITOL BOND®, and SUNDANCE®, as well as a host of other fine paper products preferred by graphic designers and printers. For more information, visit www.neenahpaper.com or call (800) 558-5061.
About Crane & Co.
Crane & Co. has been the country's leading maker of fine 100 percent cotton stationery for social and business correspondence for over two centuries. Founded in 1801, the company's roots extend to the birth of the nation. It was at Crane's Liberty Mill that paper was made for Paul Revere to engrave colonial currency in 1776. Crane has made the distinctive paper for United States currency since 1879. The company continues to be owned and managed by members of the sixth and seventh generations of the Crane family. For more information on Crane's fine business papers and brands, visit www.cranepaper.com.
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Neenah Paper, Inc.
Crane & Co., Inc.