Advanced Airlaid Materials’ net sales increased $29.7 million primarily due to the Steinfurt acquisition and a 9.6% organic increase in shipping volumes reflecting strong growth in wipes, hygiene and table top products. Higher average selling prices contributed $0.8 million and currency translation was unfavorable by $2.2 million.
“Our second quarter results reflect solid overall performance including a record quarter for Advanced Airlaid Materials and meaningful progress towards our previously announced cost reduction targets,” says Dante C. Parrini, chairman and chief executive officer. “Our Airlaid Materials business continued its strong growth trajectory, increasing both volumes and operating profit approximately 40% over the prior-year period, building on the momentum from earlier this year. Shipment growth in the legacy business was led by wipes, table top and adult incontinence products. In Composite Fibers, we delivered sequential quarter improvement in volumes and profitability, although this business was impacted by competitive market pressure and weak demand for wallcover and metallized products.”