Schweitzer-Mauduit Making Progress in EU Sales Contracts
Jan. 6, 2011 - Schweitzer-Mauduit International (SWM) said that it is making progress in securing multi-year customer agreements and is on pace to supply its proprietary Alginex® low ignition propensity (LIP) cigarette paper to meet approximately 40% of the needs of the European Union market.
According to SWM, the expected EU agreements, coupled with customer commitments for Australia and South Africa, are expected to utilize essentially all of the company's planned EU LIP cigarette paper capacity.
SWM said that it will provide further updates related to material LIP business developments, along with general business updates, as part of its routine periodic filings.
SWM is a diversified producer of premium specialty papers for the tobacco industry. It also manufactures specialty papers for other applications.
SOURCE: Schweitzer-Mauduit International, Inc.