Airlaid Materials’ net sales increased $34.1 million primarily due to the Steinfurt acquisition and a 15.8% organic increase in shipping volumes reflecting strong growth in wipes, hygiene and table top products. Currency translation was $1.7 million unfavorable.
“Glatfelter delivered another quarter of solid performance driven by continued momentum in Airlaid Materials and accelerated progress toward our previously announced cost reduction targets,” says Dante C. Parrini, chairman and CEO. “In the third quarter, Airlaid Materials had another record-setting quarter growing both volumes and net sales by nearly 50% and more than doubling operating profit over the prior year. These results were driven by a 16% increase in year-over-year shipments from our legacy business, as well as the successful integration of our Steinfurt acquisition. We continued to make progress reducing our corporate costs during the quarter and expect to exceed our 2019 targeted savings.”