Advanced Airlaid Materials’ net sales decreased $1.3 million in the year-over-year comparison primarily due to $2.2 million of lower selling prices. Shipping volumes increased 1.8%, or 5.6% on a square meter basis, primarily due to higher shipments of wipes products.
“Our third quarter results reflect the continuation of challenging conditions in several of our markets,” says Dante C. Parrini, chairman and chief executive officer. “While Specialty Papers continued to improve its operating performance driving a 7% increase in operating profit, a soft demand environment in the broader uncoated freesheet market impacted shipping volume and limited the realization of price increases announced earlier this year. In Composite Fibers, shipping volumes fell short of our expectations as demand for wall cover products was softer than expected. The weakness in these businesses outweighed the steady performance of our Advanced Airlaid Materials business. Demand in our airlaid markets remains robust and our wipes volume was up significantly on both a year-over-year and sequential-quarter basis.”