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Glatfelter’s Airlaid Business Has Record Quarter

Volumes and net sales grew by nearly 50%

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Glatfelter’s consolidated net sales totaled $232.5 million and $209.9 million for the three months ended September 30, 2019, and 2018, respectively. Excluding the Steinfurt, Germany, acquisition and on a constant currency basis, Airlaid Materials’ net sales increased by 14.2% and Composite Fibers’ net sales decreased by 4.2%.

Airlaid Materials’ net sales increased $34.1 million primarily due to the Steinfurt acquisition and a 15.8% organic increase in shipping volumes reflecting strong growth in wipes, hygiene and table top products. Currency translation was $1.7 million unfavorable.

“Glatfelter delivered another quarter of solid performance driven by continued momentum in Airlaid Materials and accelerated progress toward our previously announced cost reduction targets,” says Dante C. Parrini, chairman and CEO. “In the third quarter, Airlaid Materials had another record-setting quarter growing both volumes and net sales by nearly 50% and more than doubling operating profit over the prior year. These results were driven by a 16% increase in year-over-year shipments from our legacy business, as well as the successful integration of our Steinfurt acquisition. We continued to make progress reducing our corporate costs during the quarter and expect to exceed our 2019 targeted savings.”

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