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Quotes & Info
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| SWM > SEC Filings for SWM > Form 8-K on 9-Nov-2009 | All Recent SEC Filings |
9-Nov-2009
Other Events
Schweitzer-Mauduit International Inc. (the "Company") has obtained a key approval from the Chinese government's National Development and Reform Commission enabling progress towards establishing a joint venture greenfield reconstituted tobacco leaf, or RTL, facility in China with approximately 30,000 metric tons of expected capacity to serve the Chinese market. Although the Company does not yet have final government approval with respect to the China facility and still has commercial elements to finalize with the proposed joint venture participants, the Company presently expects both of these aspects of this project to be completed during 2010. Upon final approval, the Company expects its 50% share of the equity contribution for the joint venture to be $25 million, of which $13 to $20 million is expected to be funded in 2010 depending on timing of the final approval.
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