Luxembourg-based speciality products manufacturer Schweitzer-Mauduit International (SWM) has a new owner. The company informs that it was acquired by Evergreen Hill Enterprise in the beginning of December.
The acquisition also implies SWM’s dissociation from parent company Mativ, which operated the Engineered Papers division through SWM. The division has now been sold to Evergreen, Mativ reports. SWM will become an independent, privately-owned company called SWM International.
SWM International produces lightweight materials for industries including the cigarette and tobacco industry. The company’s products include e. g. cigarette paper, filter paper and wrapping paper for nicotine pouches. SWM International’s products are also used in other applications such as batteries, packaging and medical technology. Under new ownership, the company is to invest in new products and technologies as well as sustainability. The company employs 2,000 persons and operates several plants in Europe including three in France and one in Poland. The company also owns three sites each in the USA and China and one in Brazil.