Glatfelter’s consolidated net sales totaled $229.1 million and $211.2 million for the three months ended March 31, 2019 and 2018, respectively. Excluding the Steinfurt, Germany, acquisition and on a constant currency basis, Advanced Airlaid Materials’ net sales increased by 19.2% and Composite Fibers’ net sales decreased by 3.3%. 

Advanced Airlaid Materials’ net sales increased $30.8 million primarily due to the Steinfurt acquisition and a 13.4% organic increase in shipping volumes reflecting strong growth in wipes, hygiene and table top products. Higher average selling prices contributed $1.8 million and currency translation was unfavorable by $3.1 million.

“We reported solid results in the first quarter of 2019 delivering on growth targets for our Advanced Airlaid Materials business and making significant progress with the corporate cost reduction initiatives,” says Dante C. Parrini, chairman and chief executive officer. “Airlaid Materials’ shipments and operating income grew nearly 40% compared with the first quarter a year ago, reflecting strong organic growth enabled by the Fort Smith, Arkansas capacity expansion in addition to the Steinfurt, Germany acquisition. In Composite Fibers, shipments of food and beverage products improved, driven by single-serve coffee; however, our results were negatively impacted by weak demand for our wallcover and metallized products as well as continued disruptions in the availability of a key fiber due to a fire at the supplier’s facility.”