SWM Reports Progress in EU LIP Negotiations

Source from:  Tobacco Reporter 01/10/2011

SWM said on Wednesday that it had made progress in securing multi-year customer agreements for the supply of its proprietary Alginex® low ignition propensity (LIP) cigarette paper to meet about 40 per cent of the needs of the EU market. The expected EU agreements, coupled with customer commitments for Australia and South Africa, were expected to utilize almost all of SWM's planned EU LIP cigarette paper capacity. SWM said it would provide further updates related to LIP business developments, along with general business updates, as part of its routine filings. The next such release would be in early February and would cover fourth quarter 2010 results. Enditem