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Neenah’s Sales Fall 10%

Technical Products sales down 7% to $131.7 million

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Neenah’s consolidated net sales of $231.8 million in the third quarter of 2019 decreased 10% compared with $256.2 million in the third quarter of 2018. The decline in revenues resulted from lower volumes, reflecting weaker global market conditions in both segments, the divestiture of the Brattleboro mill in December 2018, and unfavorable currency translation effects. These items were only partly offset by increased selling prices in both segments. On a constant currency basis and excluding the sale of Brattleboro, sales declined 6% compared with the prior year.

Technical Products quarterly net sales of $131.7 million in 2019 decreased 7% from $142.3 million in the prior year, and were down 5% on a constant currency basis. The revenue decline resulted primarily from lower backings volumes and $3 million of unfavorable foreign currency effects, partly offset by higher selling prices and a higher value sales mix.

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