CHARLOTTE, N.C., Sept. 16, 2021 (GLOBE NEWSWIRE) -- Glatfelter Corporation (NYSE: GLT), announced today that effective immediately, it will increase prices for all Composite Fibers products by 12%, or as customer contracts permit.
The decision is driven by continued price increases of raw materials including pulp, synthetic fibers, chemicals, and packaging materials. In addition, extensive logistics surcharges and escalation of energy costs continue.
"Extensive efforts to reduce overall costs and increase manufacturing efficiencies continue to be a key focus at Glatfelter as inflationary pressures are experienced throughout the global supply chain," said Chris Astley, SVP and Chief Commercial Officer. "Given the continued escalation in input costs, this price increase is in addition to the pricing actions taken earlier in the year within our Composite Fibers segment. As an industry leader, Glatfelter is well positioned to provide supply continuity and remains committed to delivering best-in-class products, innovation, and service our customers have come to expect."
Caution Concerning Forward-Looking Statements
Any statements included in this press release which pertain to future financial and business matters are "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. The Company uses words such as "anticipates", "believes", "expects", "future", "intends", "plans", "targets", and similar expressions to identify forward-looking statements. Any such statements are based on the Company's current expectations and are subject to numerous risks, uncertainties and other unpredictable or uncontrollable factors that could cause future results to differ materially from those expressed in the forward-looking statements including, but not limited to, the impacts of the COVID-19 pandemic, changes in industry, business, market, and economic conditions, demand for or pricing of its products, market growth rates and currency exchange rates. In light of these risks, uncertainties and other factors, the forward-looking matters discussed in this press release may not occur and readers are cautioned not to place undue reliance on these forward-looking statements. The forward-looking statements speak only as of the date of this press release and Glatfelter undertakes no obligation, and does not intend, to update these forward-looking statements to reflect events or circumstances occurring after the date of this press release. More information about these factors is contained in Glatfelter's filings with the U.S. Securities and Exchange Commission, which are available at www.glatfelter.com.
About Glatfelter
Glatfelter is a leading global supplier of engineered materials. The Company's high-quality, innovative and customizable solutions are found in tea and single-serve coffee filtration, personal hygiene and packaging products as well as home improvement and industrial applications. Headquartered in Charlotte, NC, the Company's annualized net sales approximate $1 billion with customers in over 100 countries and approximately 2,550 employees worldwide. Operations include twelve manufacturing facilities located in the United States, Canada, Germany, France, the United Kingdom and the Philippines. Additional information about Glatfelter may be found at www.glatfelter.com.
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| Ramesh Shettigar | Eileen L. Beck | |
| (717) 225-2746 | (717) 225-2793 |
