YORK, PA--(Marketwire - May 16, 2011) - Glatfelter (NYSE: GLT) has announced that its Advanced Airlaid Materials Business Unit (AMBU) will begin implementing price increases on a global basis in response to a continued rise in input costs.
Costs for AMBU's petroleum based raw materials as well as fluff pulp have continued to increase through the first and second quarters of 2011 as demand in the broader market for these materials has continued to increase. Adding to the rise in input cost is the escalation of energy prices.
As a result, AMBU will enact an immediate price increase that will affect all customers in varying degrees depending on product composition. Increases will reflect current raw material prices, and are subject to future adjustments depending on inflationary trends.
"This inflationary momentum has continued from last year through the first two quarters of 2011," said Jonathan A. Bourget, Vice President and General Manager AMBU. "Several input costs have reached historical levels and are showing no indication of slowing in the near term. Because of this, we cannot exclude further price adjustments in the future.
"However, we are taking proactive measures to mitigate the impact of price increases to our customers. Through collaborative R&D efforts, we have already developed several innovative products to help our customers contain costs while maintaining or improving performance."
Headquarter in York, PA, Glatfelter is a global supplier of specialty papers and fiber-based engineered products, 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 $1.4 billion annually and its common stock is traded on the New York Stock Exchange under the ticker symbol GLT. Additional information is available at www.glatfelter.com