Glatfelter Announces 5% Price Increase for Its Filtration Papers
GERNSBACH, Germany, May 13, 2013: 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 energy and raw material costs.
Martin Rapp, Vice President and General Manager for Glatfelter’s Composite Fibers Business Unit said, “With the exception of electricity which cost remains relatively flat in Europe, the cost for all raw materials and energy has continued to rise gradually in the last 18 months. This has put immense pressure on margins at a time when additional capacity is needed 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.”
Glatfelter is a global supplier of specialty papers and 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 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.