Glatfelter announces 5% Price Adjustment for Its Food & Beverage Filtration Papers
Glatfelter (NYSE: GLT), a global supplier of specialty papers and fiber-based engineered materials, today announced a price increase of five percent for all beverage filtration papers, with immediate effect. The announcement comes as a result of higher raw material costs.
Martin Rapp, President for Glatfelter’s Composite Fibers Business Unit said, “The cost particularly for long and natural specialty fibers used in the manufacturing of our filtration papers has continued to rise substantially in the last few months. The global demand for these specialty fibers has grown significantly due to a shift of consumer requirements in the beverage industry along with new technical applications driven by the trend for more sustainable products. The rise in demand is adversely coupled with the attractiveness to cultivate cash crops to the farmers."
“We understand that this need for a price adjustment will be challenging for our customers, but the current market dynamics are no longer sustainable for the whole supply chain from farmer to end consumer. We have focused our efforts to mitigate this impact by driving down costs and improving efficiencies. Despite good progress, we have been unable to counterbalance all the rising input cost we are currently facing.”
Glatfelter is a global supplier of specialty papers and fiber-based engineered materials, offering innovation, world-class service and over a century and a half of technical expertise. Headquartered in York, PA, the company employs over 4,300 people and serves customers in over 100 countries. U.S. operations include facilities in 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 $1.7 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.
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