“Our third quarter results reflect solid performance from our Specialty Papers business which delivered top-line growth, again outperforming the broader uncoated freesheet market, and it significantly increased operating income,” says Dante C. Parrini, chairman and CEO. “Additionally, our Composite Fibers and Advanced Airlaid Materials businesses, although challenged by difficult economic conditions in Europe, each reported improved operating results, largely due to lower input costs and our ongoing focus on continuous improvement initiatives.”
Sales of Advanced Airalid Materials decreased 8.1% to $60 million during the quarter, due largely to unfavorable exchange rates. Income increased 10.5% to $2.7 million due to lower raw material and energy costs.
Shipping volumes for the Advanced Airlaid Materials business unit in the fourth quarter of 2012 are expected to be slightly lower than the third quarter of 2012. Average selling prices are expected to be slightly lower driven by lower input costs in the fourth quarter compared with the third quarter.