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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported) July 14, 1998
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SCHWEITZER-MAUDUIT INTERNATIONAL, INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-13948 62-1612879
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(State or other jurisdiction of (Commission (I.R.S. Employer
incorporation or organization) File Number) Identification No.)
100 NORTH POINT CENTER EAST, SUITE 600
ALPHARETTA, GEORGIA 30022-8246
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(Address of principal executive offices) (Zip Code)
(Registrant's telephone number, including area code): 1-800-514-0186
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Not Applicable
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(Former name or former address, if changed since last report.)
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ITEM 5. OTHER EVENTS
The information in the registrant's press release dated July 14, 1998 attached
as Exhibit 99 incorporated in this Item 5 by reference.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits.
See the Index to Exhibits that appears at the end of this document and
which is incorporated by reference herein.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
SCHWEITZER-MAUDUIT INTERNATIONAL, INC.
(Registrant)
By: /s/ WILLIAM J. SHARKEY
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William J. Sharkey
General Counsel and Secretary
July 14, 1998
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SCHWEITZER-MAUDUIT INTERNATIONAL, INC.
CURRENT REPORT ON FORM 8-K
DATED JULY 14, 1998
INDEX TO EXHIBITS
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<CAPTION>
EXHIBIT NO. DESCRIPTION
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99 Press Release of Schweitzer-Mauduit International, Inc.
issued July 14, 1998.
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EXHIBIT 99
PRESS RELEASE Contact: Bill Foust Paul Roberts
770-569-4203 770-569-4277
SCHWEITZER-MAUDUIT ANNOUNCES
NEW SUPPLY AGREEMENT WITH PHILIP MORRIS
Alpharetta, GA, July 14, 1998. Schweitzer-Mauduit International, Inc.
(NYSE:SWM) today announced that it has reached agreement with Philip Morris
Incorporated on an amendment of their strategic supply agreement for fine
papers. The term of the revised agreement is from April 1, 1998 to June 30,
2002. The two companies have been operating under an extension to their
original supply agreement.
The amended strategic supply agreement continues SWM's ongoing supply of
tobacco-related papers to Philip Morris' U.S. operations. A supplement to the
agreement creates the potential for a seven-year exclusive supply arrangement
with Philip Morris U.S.A. for an experimental new product currently being
jointly developed. Philip Morris and SWM also have entered into a licensing and
royalty agreement covering future commercialization of this potential new paper
product.
Wayne H. Deitrich, Chairman and CEO of SWM stated, "We are extremely pleased to
announce the amended strategic supply agreement with Philip Morris. The
amendment underscores the importance of the relationship for both companies."
The amended agreement gives Philip Morris the right to purchase 5 percent of
its requirements from other suppliers in 1998 and 10 percent in future years.
Deitrich added that it was his expectation that as long as SWM had capacity and
continued to meet Philip Morris' requirements that Philip Morris would have no
incentive to access other sources of supply.
Similar to arrangements in the original strategic supply agreement, there is a
right to extend or terminate the amended strategic supply agreement by giving
notice 24 months before the end of the then-current contract term. If the
decision were to terminate, the amended contract provides for a two-year phase
out.
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Schweitzer-Mauduit International is a diversified producer of premium specialty
papers and the world's largest supplier of fine papers to the tobacco industry.
It also manufactures specialty papers for use in alkaline batteries, vacuum
cleaner bags, business forms and printing and packaging applications.
Schweitzer-Mauduit and it subsidiaries conduct business in over 80 countries
and employ 3,500 people worldwide, with operations in the United States,
France, Brazil and Canada.
Certain comments contained in this news release concerning possibilities and
expectations constitute "forward-looking statements" within the meaning of the
Private Securities Litigation Reform Act of 1995 and are subject to the safe
harbor created by that Act. The forward-looking statements are based upon
management's expectations and beliefs concerning future events impacting the
Company. There can be no assurances that such events will occur or that the
outcome will be as estimated. Many factors outside the control of the Company
also could impact the realization of such estimates. Such factors are discussed
in more detail in the Company's SEC reports, including the Company's Annual
Report on Form 10-K for the year ended December 31, 1997.
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