Glatfelter’s Composite Fibers Business Unit Announces 7% Price Increase
GERNSBACH, Germany, Oct. 23, 2018 (GLOBE NEWSWIRE) -- Glatfelter (NYSE: GLT) announced today its Composite Fibers Business Unit will increase prices by 7% for all its products, effective November 19, 2018.
The decision is a direct result of substantial and ongoing global price increases for key raw materials including pulp, synthetic fibers, viscose and other chemicals. Furthermore, the Company does not see any near-term relief from this input cost inflation. Escalating energy and transportation costs further compound the inflationary situation.
“Glatfelter has made extensive efforts to reduce costs and increase efficiency,” said Martin Rapp, Senior Vice President and Business Unit President, Composite Fibers. “However, these initiatives alone are not enough to offset the impact of the external pressures. Therefore, we are implementing price adjustments to ensure our continued ability to supply best-in-class products, innovation and service.”
Glatfelter is a leading global supplier of engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Headquartered in York, PA, the Company employs approximately 4,200 people and serves customers in over 100 countries. U.S. operations include facilities in Arkansas, Pennsylvania and Ohio. International operations include facilities in Canada, Germany, France, the United Kingdom and the Philippines, and sales and distribution offices in the U.S., China and Russia. Glatfelter’s sales approximate $1.6 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.
|Martin Rapp||Dr. Mattis Gosmann|
|49 (7224) 66 331
49 (7224) 66 204
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