Schweitzer-Mauduit Clarifies Customer Contract
ALPHARETTA, Ga., Feb. 12 /PRNewswire-FirstCall/ — Schweitzer-Mauduit International, Inc.’s (NYSE: SWM) contract with Philip Morris USA, Inc. (Philip Morris USA) specifies that Schweitzer-Mauduit will serve as the sole supplier of the co-developed, on-line banded cigarette paper technology (MOD) used to produce low ignition propensity (LIP) cigarettes. Schweitzer-Mauduit is, and has been for many years, a strategic partner with Philip Morris USA. Philip Morris USA is able to develop or explore alternatives to their MOD technology for their LIP needs and has informed us of their intent to do so on a volume of their requirements that is not material to SWM’s ongoing supply of MOD product. The existing agreement does not address either party’s rights to any technology beyond MOD.
Mr. Villoutreix, commented, “Our comprehensive patent portfolio along with a commercially proven product has enabled Schweitzer-Mauduit to become the premier provider of LIP technologies for our industry. We have, and will continue, to protect our intellectual property and strive to further improve our LIP technologies and solutions to sustain this leadership position.”
About Schweitzer-Mauduit International
Schweitzer-Mauduit International, Inc. is a diversified producer of premium specialty papers. It also manufactures specialty papers for other applications. Schweitzer-Mauduit and its subsidiaries conduct business in over 90 countries and employ 2,900 people worldwide, with operations in the United States, France, Brazil, the Philippines, Indonesia, Canada and a joint venture in China. For further information, please visit the company’s Web site at www.schweitzer-mauduit.com.
CONTACT: Vera Arthur +1-770-569-4293 or Pete Thompson +1-770-569-4277 both of Schweitzer-Mauduit International, Inc. Web Site: http://www.schweitzer-mauduit.com
SOURCE Schweitzer-Mauduit International, Inc.