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Neenah Reports Lower Sales

Technical Products sales down 5%

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Neenah’s consolidated net sales of $253.4 million in the second quarter of 2019 decreased 7% compared with $271.3 million in the second quarter of 2018. The decline in revenues resulted from lower volumes in both segments, reflecting the divestiture of the Brattleboro mill in December 2018 and weaker global market conditions. Increased selling prices in both segments and a more favorable Technical Products mix more than offset $4.4 million of unfavorable currency translation effects. On a constant currency basis and excluding the sale of Brattleboro, sales declined 2% compared with the prior year.

Technical Products quarterly net sales of $146.4 million in 2019 decreased 5%, from $153.9 million in the prior year, and were down 2% on a constant currency basis. The revenue decline resulted from lower backings volumes and $4.4 million of unfavorable foreign currency effects, partly offset by volume growth in filtration, higher selling prices and a higher value sales mix.

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