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Neenah Reports Record Sales

Sales up 40% in the quarter

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

Neenah’s consolidated net sales of $267.9 million in the third quarter of 2021 increased 40% compared with $190.7 million in the third quarter of 2020. The increase includes strong organic volume growth, pricing actions, and net sales from the Itasa acquisition of $36 million. The increase was slightly offset by lower value sales mix in Technical Products.

“Neenah continues to deliver strong top-line performance, with growing demand for our products in both business segments. As expected, margins were impacted by rapidly escalating raw material and energy costs this quarter, as well as supply chain disruptions,” says Julie Schertell, chief executive officer. “Neenah has historically demonstrated the ability to overcome input cost inflation with pricing actions, and we are executing on our plans to continue to recover our margins. At the same time, we are driving our long-term strategy to expand Neenah’s capabilities into larger, growing markets that value our unique technical capabilities.”

Technical Products quarterly net sales of $172.7 million in 2021 increased 46% from $118.5 million in the prior year. The revenue increase was primarily driven by a rebound in all product categories compared to the impact of the pandemic in the third quarter of 2020, and the acquisition of Itasa. These increases were partly offset by a lower value sales mix in 2021, which included the effects of limited availability of some raw materials from supply chain constraints.

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