MANCHESTER – Lydall supplied enough meltblown nonwoven fabric for almost a billion facemasks in 2020 and reports a strong end to its financial year.
The company is currently in the process of a $40 million meltblown capacity expansion which will provide it with the means to provide materials for over two billion N95 respirators annually going forward.
“In late December, we successfully commissioned a new fine fibre meltblown production line in Rochester, New Hampshire, and reached full capacity in January,” said president and CEO Sara A. Greenstein. “Additional capacity at Rochester and St. Rivalain in France is on schedule for production in the early third quarter of this year and all of these projects are expected to be strong profitable growth contributors in 2021.”
In the fourth quarter of 2020 the company achieved net sales of $210.3 million, up by $17 million, or 8.8% compared to the fourth quarter of 2019
Operating income of $4.5 million was also up by $73 million dollars from the fourth quarter of 2019.
Full year sales of $764 million were down by $73.3 million on the $837.4 million achieved in 2019, and the company recorded an overall loss of $62 million for the year to December 31st, 2020.
Strong demand continued in the fourth quarter of 2020, however, for speciality filtration products, and a sharp recovery in sealing products was experienced, with only a slight anticipated dip in the profits of the company’s Technical Nonwovens business, despite still very challenging conditions.
“Over the course of 2020 we navigated a global pandemic, a shutdown of global automotive production, ongoing supply chain disruptions and uncertain economic and political environments and have emerged a stronger and more agile company,” Ms Greenstein said. “We anticipate continued healthy demand and order activity across all three of our business segments as the end markets we serve recover from a tumultuous 2020. Additionally, elevated demand for speciality filtration solutions is expected to continue beyond 2021 as the structural shift towards better indoor and outdoor air quality drives further demand for these products.”
