-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NdGVMsfic8xZYUE73QfOk8EbAZNFhhQrntlbU60zbtMXKK29BCTfNZ59a//prhz1 LSJUxVfeVAQWvQvUJX1PgA== 0000950144-98-014001.txt : 19981221 0000950144-98-014001.hdr.sgml : 19981221 ACCESSION NUMBER: 0000950144-98-014001 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 19981218 ITEM INFORMATION: ITEM INFORMATION: FILED AS OF DATE: 19981218 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SCHWEITZER MAUDUIT INTERNATIONAL INC CENTRAL INDEX KEY: 0001000623 STANDARD INDUSTRIAL CLASSIFICATION: PAPER MILLS [2621] IRS NUMBER: 621612879 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: SEC FILE NUMBER: 001-13948 FILM NUMBER: 98772348 BUSINESS ADDRESS: STREET 1: 100 NORTH POINT CENTER EAST STREET 2: SUITE 600 CITY: ALPHARETTA STATE: GA ZIP: 30022-8246 BUSINESS PHONE: 8005140186 MAIL ADDRESS: STREET 1: 100 NORTH POINT CENTER EAST STREET 2: SUITE 600 CITY: ALPHARETTA STATE: GA ZIP: 30022-8246 8-K 1 SCHWEITZER MAUDUIT INTERNATIONAL INC 1 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) December 18, 1998 ----------------- SCHWEITZER-MAUDUIT INTERNATIONAL, INC. (Exact name of registrant as specified in its charter) DELAWARE 1-13948 62-1612879 -------- ------- ---------- (State or other jurisdiction of (Commission (I.R.S. Employer incorporation or organization) File Number) Identification No.) 100 NORTH POINT CENTER EAST, SUITE 600 30022-8246 ALPHARETTA, GEORGIA ---------- - ------------------- (Zip Code) (Address of principal executive offices) (Registrant's telephone number, including area code): 1-800-514-0186 -------------- Not Applicable -------------------------------------------------------------- (Former name or former address, if changed since last report.) 2 ITEM 5. OTHER EVENTS The information in the registrant's press release dated December 18, 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 ---------------------------- William J. Sharkey General Counsel and Secretary December 18, 1998 3 SCHWEITZER-MAUDUIT INTERNATIONAL, INC. CURRENT REPORT ON FORM 8-K DATED DECEMBER 18, 1998 INDEX TO EXHIBITS
EXHIBIT NO. DESCRIPTION - ----------- ----------- 99 Press Release of Schweitzer-Mauduit International, Inc. issued December 18, 1998.
EX-99 2 PRESS RELEASE 1 EXHIBIT 99 PRESS RELEASE Contact: Bill Foust Paul Roberts 770-569-4203 770-569-4277 SCHWEITZER-MAUDUIT ANNOUNCES A ONE-TIME CHARGE, EXPECTED FOURTH QUARTER EARNINGS AND SHARE REPURCHASE PROGRAM Alpharetta, GA, December 18, 1998. Schweitzer-Mauduit International, Inc. (NYSE: SWM) today announced that it will incur a one-time pre-tax charge in the fourth quarter of 1998 of approximately $4.0 million, which will have an unfavorable impact on diluted earnings per share of $.13. Wayne H. Deitrich, Chairman of the Board and Chief Executive Officer, said "the one-time charge is being taken in recognition of current business conditions and to implement organizational changes that will benefit future operations. Approximately two-thirds of the one-time charge is a noncash write-off of assets related to idle production equipment no longer expected to be used because of market conditions. The balance of the one-time charge is primarily for labor payments, the majority of which are related to a change in the operating shift structure in the Brazilian operations. The modified shift structure in Brazil will be implemented in January 1999 and is expected to provide approximately $1 million in annual pre-tax savings." Mr. Deitrich added that, "excluding the one-time charge, diluted earnings per share for the fourth quarter of 1998 are expected to be in the range of $.27 to $.32. Results for the quarter will reflect the unfavorable impact of production downtime necessary to manage inventory levels." The Company also announced that its Board of Directors has authorized the repurchase of shares of the Company's common stock during the period January 1, 1999 through December 31, 2000 in an amount not to exceed $20 million. The Company's current share repurchase authorization is effective through December 31, 1998. 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, business forms, and printing and packaging applications. Schweitzer-Mauduit and its subsidiaries conduct business in over 80 countries and employ 3,400 people worldwide, with operations in the United States, France, Brazil and Canada. Certain comments contained in this news release concerning the business outlook and anticipated financial and operating results of the Company 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 Company's results 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. # # # -----END PRIVACY-ENHANCED MESSAGE-----