“Our first-quarter results reflect the continuing strength of our two growth businesses as they delivered a combined 6% increase in net sales on an organic basis,” says Dante Parrini, chairman and CEO. “Both Composite Fibers, driven by the previously acquired Dresden business, and Advanced Airlaid Materials reported improved operating profit of 65% and 30%, respectively, over the prior year. The outlook for Composite Fibers remains positive as the business has greater capacity to meet growing market demand and Advanced Airlaid Materials continues to grow through its leadership positions in growing global hygiene markets.”
Sales in the company’ Advanced Airlaid Materials business grew 4.9% to $25 million, due to an increase in shipping volumes. Sales of Composite Fibers, which includes the company’s wetlaid business, increased 77% to $39.9 million, primarily due to the acquisition of the Dresen Paper wall coverings business.