GlobeNewswire Inc | Dec 10, 2021 08:00AM EST

December 10, 2021

Alpharetta, GA, Dec. 10, 2021 (GLOBE NEWSWIRE) -- SWM International (NYSE: SWM) has finalized the sale of its former Spotswood, New Jersey facility to an undisclosed buyer, with net proceeds of approximately $35 million. Net proceeds from the transaction will be used to reduce Company debt. As previously disclosed, the Company closed its Spotswood, NJ facility at the end of 2020 as the Company transitioned to a newly developed manufacturing technology to better support the sites key customer. Site operations were part of the Companys Engineered Papers segment, and volumes produced in Spotswood were transitioned to other operations within the Companys global footprint that supported this new production process.

About SWM: SWM is a leading global performance materials company, focused on bringing best-in-class innovation, design, and manufacturing solutions to our customers. Our highly engineered films, adhesive tapes, foams, nets, nonwovens, and papers are designed and manufactured using resins, polymers, and natural fibers for a variety of industries and specialty applications. SWM and its subsidiaries manufacture on four continents, conduct business in over 90 countries and employ approximately 5,000 people worldwide. For further information, please visit SWMs website atwww.swmintl.com.

Media Contact:Mary Gibsonmgibson@swmintl.com770-569-4328

Investor Relations Contact:Mark ChekanowMchekanow@swmintl.com770-569-4229