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Schweitzer-Mauduit Subsidiaries Seek to Acquire Interest in LTR Industries
Alpharetta, Georgia, USA, 21 December 2007 -- /PRNewswire/ -- Schweitzer-Mauduit International, Inc. (NYSE:SWM) today reported that two of its French subsidiaries have entered into an agreement to purchase the 28% minority interest in LTR Industries S.A., the company's reconstituted tobacco leaf business in France, owned by Societe Nationale d'Exploitation Industrielle des Tabacs et Allumettes, S.A., a subsidiary of Altadis, SA.

The transaction is expected to close by 31 January 2008. Upon closing of the transaction, Schweitzer-Mauduit affiliates in France will collectively own 100% of the outstanding shares of LTR Industries. The purchase price of EUR 35 million (approximately USD 50 million) will be funded through Schweitzer- Mauduit's existing credit facility. The acquisition is expected to increase Schweitzer-Mauduit's 2008 diluted earnings per share in the range of USD 0.28 to USD 0.34, subject to final purchase accounting adjustments. No impact on current operations is expected, including employment levels, as a result of this transaction.

Schweitzer-Mauduit International, Inc. 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, overlay products, saturating base papers, business forms, and printing and packaging applications. Schweitzer- Mauduit and its subsidiaries conduct business in more than 90 countries and employ 3500 people worldwide, with operations in the United States, France, Brazil, the Philippines, Indonesia, and Canada.

For further information, visit the company's Web site at www.schweitzer-mauduit.com.

Source: Schweitzer-Mauduit International, Inc.

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