Glatfelter raises prices for its food and beverage filtration papers by 5%, effective immediately, cites escalating costs for raw materials, especially in the past 18 months for long natural and synthetic fibers used in making filtration papers
February 6, 2014
– Glatfelter, a global supplier of specialty papers and fiber-based engineered materials, today announced price surcharges of five percent for all beverage filtration papers, effective immediately. The announcement comes as a result of high raw material costs.
Martin Rapp, Vice President and General Manager for Glatfelter’s Composite Fibers Business Unit said, “The cost for most raw materials, especially for long natural and specialty synthetic fibers used in the manufacturing of our filtration paper, has continued to rise gradually in the last 18 months. This has put immense pressure on margins at a time when additional capacity has been added to support long term growing demand.”
“We understand that this price increase is difficult for our customers, but the current economics are not sustainable. We have made extensive efforts in the last years to reduce our overall costs and increase efficiency in an attempt to mitigate the impact of these escalating costs on our customers. However, we have been unable to counterbalance the full impact of rising input costs in the last years.”
Mr. Rapp continued, “Realistically, I do not see any relief from input cost inflation in the near-term, but we are talking and working with our customers to find ways of reducing the impact of these changes within the global supply chain.”
Headquartered in York, PA, Glatfelter is a global manufacturer of specialty papers and fiber-based engineered materials, offering over a century of experience, technical expertise and world-class service. U.S. operations include facilities in Spring Grove, PA and Chillicothe and Fremont, OH. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, a representative office in China and a sales and distribution office in Russia. Glatfelter’s sales approximate $1.7 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT.
Additional information may be found at www.glatfelter.com.