SWM International has announced that it has become an independent specialty materials company under private ownership.

The sale of Mativ Holdings, Inc. Engineered Papers business to Evergreen Hill Enterprise is completed, according to a press release. The new company will operate under the name SWM International. The company, under new ownership, plans to accelerate its investments in manufacturing excellence, product and technology innovation, and sustainability.

On 1 December SWM International has announced its successful acquisition by Evergreen Hill Enterprise Pte. Ltd. The company will now operate as an independent, privately owned business with its headquarters located in Luxembourg.

“SWM International is the global market leader in premium, highly engineered lightweight materials.” The company serves various industry segments, including tobacco, cannabinoids, battery, surface protection, packaging, and medical. With a global footprint including facilities in Asia, Europe, Latin America, and the United States, the company is home to nearly 2,000 employees worldwide, including an experienced management team.

Katrin Hanske, CEO of SWM International said: “Today marks a milestone for our employees, our customers, and our partners. Leveraging our profound engineering expertise in botanicals and natural fibers, we are dedicated to further advancing innovation in our distinctive products and technologies, all while expanding our manufacturing capabilities.”