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Photo: FET
FET-103 Monofilament meltspinning system
10.10.2022

RHEON LABS: Fibre with unique strain-rate sensitive characteristics

RHEON LABS, a fast-growing materials technology company based in Battersea, London, has completed an extensive 6 month trial with FET, a world leader in laboratory and pilot meltspinning equipment. Backed by a £173,000 grant from Innovate UK for feasibility studies, RHEON LABS has further developed its RHEON™ technology, a reactive polymer that dynamically stiffens when subjected to force. The technology can control energy of any amplitude or frequency, from small vibrations to forces at ballistic-speeds and therefore has a wide range of applications.
 
This Innovate UK Smart Grant-backed project aims to develop a hyper viscoelastic fibre from RHEON™ which displays high strain-rate sensitive properties. Creating a fibre with unique strain-rate sensitive properties will be a world first. It will enable the creation of a 'breakthrough-generation' of stretch textiles that can actively absorb, dampen and control energy during movement, rather than simply acting as a spring.

RHEON LABS, a fast-growing materials technology company based in Battersea, London, has completed an extensive 6 month trial with FET, a world leader in laboratory and pilot meltspinning equipment. Backed by a £173,000 grant from Innovate UK for feasibility studies, RHEON LABS has further developed its RHEON™ technology, a reactive polymer that dynamically stiffens when subjected to force. The technology can control energy of any amplitude or frequency, from small vibrations to forces at ballistic-speeds and therefore has a wide range of applications.
 
This Innovate UK Smart Grant-backed project aims to develop a hyper viscoelastic fibre from RHEON™ which displays high strain-rate sensitive properties. Creating a fibre with unique strain-rate sensitive properties will be a world first. It will enable the creation of a 'breakthrough-generation' of stretch textiles that can actively absorb, dampen and control energy during movement, rather than simply acting as a spring.

For close-fitting activewear and sports bras, the ability to actively control muscle mass or soft tissue movement during exercise will be a game-changing advancement. It will allow brands to engineer garments that relax during everyday use but actively stiffen during exercise for improved support and performance.
The Innovate UK grant was awarded under the category of Hyper-Viscoelastic Fibre Extrusion for Textile Manufacture. Fibre Extrusion Technology Limited (FET) enabled the customer trials at its bespoke Fibre Development Centre in Leeds, England using its in-house FET-103 Monofilament meltspinning facilities, in harness with RHEON and FET technical operatives. The next phase will be to upscale the trials of preferred materials on RHEON’s own new FET-103 meltspinning line, with FET’s continued support and expertise on hand.
 
Creating a fibre with unique strain-rate sensitive characteristics could be as radical a change in the market as the initial introduction of stretch fibre with the launch of Lycra™. The textiles would have a multitude of beneficial properties and would provide significantly less compression in the garment than conventional materials, substantially improving user comfort, support and performance.

Source:

DAVID STEAD PROJECT MARKETING LTD

Photo: Sellers Textile Engineers
Hybrid Shearing Cylinder
10.10.2022

The Hybrid Shear by Sellers Textile Engineers

BTMA member Sellers Textile Engineers is marking its 110th anniversary this year with the introduction of a new concept in carpet shearing, as the essential final step in ensuring tuft uniformity and ‘just new’ freshness in finished carpet rolls.

The company has for many years offered two options in the construction of its shearing cylinders – the first, namely the ‘strap-on’, incorporates spiral blades bolted to the cylinder body and the second, known as the ‘caulked-in’, includes spirals which are fixed very securely in a machined groove within the machine.

The new Sellers’ Hybrid Shearing Cylinder combines the benefits of both, resulting in an improved cut and finer finish, in addition to longer repeatable finishing and increased rigidity.

BTMA member Sellers Textile Engineers is marking its 110th anniversary this year with the introduction of a new concept in carpet shearing, as the essential final step in ensuring tuft uniformity and ‘just new’ freshness in finished carpet rolls.

The company has for many years offered two options in the construction of its shearing cylinders – the first, namely the ‘strap-on’, incorporates spiral blades bolted to the cylinder body and the second, known as the ‘caulked-in’, includes spirals which are fixed very securely in a machined groove within the machine.

The new Sellers’ Hybrid Shearing Cylinder combines the benefits of both, resulting in an improved cut and finer finish, in addition to longer repeatable finishing and increased rigidity.

“The Hybrid Shearing Cylinder has all the advantages of the ‘strap-on’ spiral blade to provide a sharper and cleaner cut, along with enhanced rigidity which significantly lengthens the intervals between the necessary regrinding of the blade,” explains Sellers Director Neil Miller. “We currently have six Hybrid Shearing Cylinders operating in the field and the earliest, which has been installed in both No1 Head position, where the majority of the shearing operation and heaviest cut is performed, and also in No3 Head, where the sharper cutting angle has resulted in a much improved surface quality.”

Sellers shearing machines have led the field in carpet finishing for many decades, enabling the leading manufacturers to stay competitive by enabling the highest quality of finish to be achieved economically and efficiently.

The latest advanced features of these machines include a load cell tension control drive system, an automated touchscreen for easy operator control and fault diagnosis, an enhanced cleaning system including cylinder and blade separation and fully controllable pivoting beds. Further options include thickness monitoring, seam detection and metal detection systems.

“The Hybrid Shearing Cylinder will become standard on our latest machines and also be made available for retrofitting, to provide significant benefits to our existing users,” says Miller. “All of our equipment is designed, manufactured, assembled and tested at our plant in the UK, and as one of the few remaining European engineering companies to make all of our components in-house – with now over a century of accumulated know-how – flexibility in design allows our finishing solutions to be targeted to specific customers and their product requirements. Aligned to this is a lead in process control systems which ensure the accurate control, reliability and repeatability of the processing parameters on all of our machines.”

Sellers remains committed to providing complete finishing solutions for all carpet, tile and artificial grass products. Its range includes machines for tufted secondary backing, both conventional, powder and extrusion lamination, Wilton and Axminster products, artificial grass and foam lines, coating lines for bitumen, PVC, PU and other polymers, as well as shearing for all carpet products.

Ongoing developments on the company’s coating and drying lines have resulted in improved guiding and product tension control as well as dryer efficiency, reducing heat loss and optimising energy use. These include a re-design of the fan pressure boxes and impingement nozzles to increase airflow efficiency, modulating gas burners and introducing easy clean, accessible filters.

In addition, the proven dual zone system has been enhanced, giving a temperature differential of up to 80°C between top and bottom zones. Dryers can be heated by either gas or steam and operation and access have been simplified with controls via touchscreen and PLC.

An extensive range of ancillary equipment is available to provide maximum flexibility to cover product requirements, for both new processing lines and as upgrades to existing equipment.

“Carpet manufacturing is now based on well-established, tried and trusted processes and it’s rare for new innovations to be introduced into this sector,” says Jason Kent, CEO of the British Textile Machinery Association. “The new Sellers Hybrid Shearing Cylinder can provide a competitive edge for manufacturers which is currently being proven in the field. It’s one of a number of new innovations the company is planning to showcase at next year’s ITMA exhibition in Milan.”

07.10.2022

AkzoNobel: Q3 update following high macro-economic uncertainty

AkzoNobel provides a Q3 update as high macro-economic uncertainty - especially in Europe and China - led to near historical low consumer confidence. In anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions.
 
The Q3 adjusted operating income is now expected to be in the range of €195 million to €215 million (2021: €241 million), excluding a retroactive impact from hyperinflation accounting regarding Türkiye.
 
Current demand trends are expected to continue in Q4, whilst benefits will come from the company’s own initiatives to reduce costs, improve working capital and ongoing pricing initiatives. While Q3 will see the highest raw material cost impact since the inflation cycle started early 2021, pricing will continue to offset raw material and freight inflation. Overall raw material supply is normalizing and raw material prices are starting to soften broadly.
 
Financial results for Q3 of 2022 will be announced on October 20.

AkzoNobel provides a Q3 update as high macro-economic uncertainty - especially in Europe and China - led to near historical low consumer confidence. In anticipation, customers and channel partners in the paints and coatings industry are proactively destocking in these regions.
 
The Q3 adjusted operating income is now expected to be in the range of €195 million to €215 million (2021: €241 million), excluding a retroactive impact from hyperinflation accounting regarding Türkiye.
 
Current demand trends are expected to continue in Q4, whilst benefits will come from the company’s own initiatives to reduce costs, improve working capital and ongoing pricing initiatives. While Q3 will see the highest raw material cost impact since the inflation cycle started early 2021, pricing will continue to offset raw material and freight inflation. Overall raw material supply is normalizing and raw material prices are starting to soften broadly.
 
Financial results for Q3 of 2022 will be announced on October 20.

Source:

AkzoNobel

TAD Teintures et Apprêts Danjoux Photo TAD Teintures et Apprêts Danjoux
TAD Teintures et Apprêts Danjoux
06.10.2022

Coisne et Lambert: Acquisition of TAD Teintures et Apprêts Danjoux

Coisne et Lambert, the group composed of the two companies TDV Industries and Klopman International, a leader in the production and marketing of technical fabrics for the professional clothing and PPE sector, announced the acquisition of TAD Teintures et Apprêts Danjoux.

TAD is specialized in the dyeing and finishing of knitted fabrics and has been in the market for over 30 years. Based in Le Coteau (France), the company has a production site of 9,000 m² and is a major player in the civil and administrative markets for technical textiles for professional clothing, medical, sport and apparel.

With a well equipped R&D laboratory, responsive and innovative sampling and production processes, TAD is ISO 14001 certified to manage its environmental performance.

TAD will extend the group's textile know-how adding expertise in knitwear finishing (dyeing, finishing and functionalities). The complimentary nature of their skillsets will allow the three companies to develop synergies for the benefit of their common and specific markets.

Coisne et Lambert, the group composed of the two companies TDV Industries and Klopman International, a leader in the production and marketing of technical fabrics for the professional clothing and PPE sector, announced the acquisition of TAD Teintures et Apprêts Danjoux.

TAD is specialized in the dyeing and finishing of knitted fabrics and has been in the market for over 30 years. Based in Le Coteau (France), the company has a production site of 9,000 m² and is a major player in the civil and administrative markets for technical textiles for professional clothing, medical, sport and apparel.

With a well equipped R&D laboratory, responsive and innovative sampling and production processes, TAD is ISO 14001 certified to manage its environmental performance.

TAD will extend the group's textile know-how adding expertise in knitwear finishing (dyeing, finishing and functionalities). The complimentary nature of their skillsets will allow the three companies to develop synergies for the benefit of their common and specific markets.

This integration will enable TAD to strengthen its specific business model and its services as a French finishing company over the long term, for the benefit of its historical and future customers.

The group, which is made up of the two companies TDV Industries and Klopman International, achieved a turnover of 185 million euros for the 2021-2022 financial year and employs more than 600 people. It also intends to expand its presence in new markets and geographical areas. Klopman International and TDV Industries want to offer markets more complete, flexible and competitive solutions for professional, civil and military clothing.

Graphic Hologenix
06.10.2022

CELLIANT® Viscose now as flock coating and flock fabric

  • Partnership with Spectro Coating Corp. Expands Horizons for the World’s First In-fiber Sustainable Infrared Viscose

CELLIANT® Viscose, which converts body heat into energy, is a combination of nature and performance. It was developed by materials science leader Hologenix®, creators of CELLIANT, a natural blend of IR-generating bioceramics used in textiles, and Kelheim Fibres, a leading manufacturer of viscose specialty fibers. It is the world’s first in-fiber sustainable infrared viscose.  Now Hologenix has partnered with Spectro Coating Corp., the largest vertically integrated flock coating and flock fabric manufacturer in the world, to create the first flocked infrared material with CELLIANT Viscose.

  • Partnership with Spectro Coating Corp. Expands Horizons for the World’s First In-fiber Sustainable Infrared Viscose

CELLIANT® Viscose, which converts body heat into energy, is a combination of nature and performance. It was developed by materials science leader Hologenix®, creators of CELLIANT, a natural blend of IR-generating bioceramics used in textiles, and Kelheim Fibres, a leading manufacturer of viscose specialty fibers. It is the world’s first in-fiber sustainable infrared viscose.  Now Hologenix has partnered with Spectro Coating Corp., the largest vertically integrated flock coating and flock fabric manufacturer in the world, to create the first flocked infrared material with CELLIANT Viscose.

Flocking is an application method in which tiny fibers are piled on to the surface of a textile, creating textures for both decorative and functional purposes. CELLIANT Viscose in a flocked material has many potential applications in the medical field for tapes, bandages, braces and orthopedic products, home textiles and decor, dog beds, clothing, and more.  CELLIANT features natural, ethically sourced minerals, which convert body heat into infrared energy for increased local circulation and cellular oxygenation.  These CELLIANT minerals are then embedded into viscose plant-based fibers. The Viscose fibers are then flocked onto a base material. CELLIANT Viscose provides all the benefits of being a viscose fiber — lightweight, soft, highly breathable, excellent moisture management — as well as the fiber enhancements from CELLIANT infrared technology.

CELLIANT Viscose is the first IR flocked material that Spectro is producing. CELLIANT Viscose also represents a further expansion into sustainable products for Spectro. In addition, Spectro products are made in the USA, as is CELLIANT’s mineral blend.

Source:

Hologenix

04.10.2022

Carbios appoints new Director of Operations and Expertise Team

  • Stéphane Ferreira joined Carbios as Director of Operations and Executive Committee Member, on October 10, 2022.
  • Frédéric Alarcon appointed Licensing Manager
  • Arnaud Tillon appointed Group Marketing Director
  • New areas of expertise complete the seniority of Carbios’ leadership team, following June appointments of Mathieu Berthoud as Sourcing and Public Affairs Director, Lionel Arras as Industrial Director, and Pascal Bricout as Strategy and Finance Director.
  • Departure of Martin Stephan, Deputy CEO

Carbios strengthens its organization with the appointment of Stéphane Ferreira as Director of Operations. He will be in charge of the business’ global development and will steer the relationship with Carbios’ industrial and commercial partners.

Stéphane Ferreira's team will be reinforced by two new members, including:

  • Stéphane Ferreira joined Carbios as Director of Operations and Executive Committee Member, on October 10, 2022.
  • Frédéric Alarcon appointed Licensing Manager
  • Arnaud Tillon appointed Group Marketing Director
  • New areas of expertise complete the seniority of Carbios’ leadership team, following June appointments of Mathieu Berthoud as Sourcing and Public Affairs Director, Lionel Arras as Industrial Director, and Pascal Bricout as Strategy and Finance Director.
  • Departure of Martin Stephan, Deputy CEO

Carbios strengthens its organization with the appointment of Stéphane Ferreira as Director of Operations. He will be in charge of the business’ global development and will steer the relationship with Carbios’ industrial and commercial partners.

Stéphane Ferreira's team will be reinforced by two new members, including:

  • Frédéric Alarcon, Licensing Manager, who joined Carbios on September 5. His role is to build and deploy the process licensing model that is at the heart of Carbios’ business model;
  • Arnaud Tillon, Group Marketing Director, who joined the firm on September 12. He will support the company’s development by defining and deploying the marketing strategy. He is also in charge of reinforcing the customer culture within the organization.

Martin Stephan will leave his position as Deputy CEO on October 15, 2022, after nearly six years at Carbios.

Emmanuel Ladent, Carbios’ Chief Executive Officer: "The appointment of Stéphane Ferreira as Director of Operations is excellent news for Carbios. His extensive experience in global markets will help Carbios reach a new level, by deploying the company’s proprietary technologies on a large scale. I am also very pleased with the recent arrivals of Frédéric Alarcon and Arnaud Tillon, whose respective expertise in licenses and mass-market offers will be invaluable. Lastly, on behalf of all Carbios’ teams, I want to salute and thank Martin Stephan for his continued commitment to the company’s development. His experience, expertise and skills have been key to developing partnerships which have enabled Carbios to be so close to industrial deployment and recognized as the future worldwide leader of plastics and fibers in the circular economy."

More information:
Carbios Managing Director
Source:

Carbios

30.09.2022

Suominen launches nonwoven with a tri-layer structure

Suominen’s newest tri-layer nonwoven, FIBRELLA® Strata, delivers a combination of strength and softness and can be used in various applications. Especially for the Baby market FIBRELLA® Strata offers a nonwoven with a high-definition patterning in a multi-layer structure while delivering softness and cleaning performance.

“When developing FIBRELLA® Strata, Suominen used its process know-how to create a nonwoven that has a high-definition pattern. The product maintains the pattern when wet to help enhance its cleaning performance and bulk softness. FIBRELLA® Strata’s unique tri-layer structure makes it stand out on the market,” says Tara Millar, Manager, Category Management, Americas.

Suominen’s newest tri-layer nonwoven, FIBRELLA® Strata, delivers a combination of strength and softness and can be used in various applications. Especially for the Baby market FIBRELLA® Strata offers a nonwoven with a high-definition patterning in a multi-layer structure while delivering softness and cleaning performance.

“When developing FIBRELLA® Strata, Suominen used its process know-how to create a nonwoven that has a high-definition pattern. The product maintains the pattern when wet to help enhance its cleaning performance and bulk softness. FIBRELLA® Strata’s unique tri-layer structure makes it stand out on the market,” says Tara Millar, Manager, Category Management, Americas.

Source:

Suominen

(c) AkzoNobel
26.09.2022

AkzoNobel’s Paint the Future India challenge awards two startups

Two startups in India have won Paint the Future awards and the chance to continue working together with AkzoNobel to accelerate their solutions.

The winning submissions answered the company’s call for innovative ways to enhance the digital consumer experience for Dulux paints in India. The winners are:

  • HyperReality Technologies - Collaborative platform for inspiration and visualization of a space in the metaverse
  • Fluid AI - Multi-channel, conversational, immersive and interactive AI platform to guide consumers during their painting journey

Having already signed letters of intent to work together on sustainable business opportunities, the two winners now join AkzoNobel’s accelerator program.

The India startup challenge is the third regional edition of Paint the Future. Run in partnership with NASSCOM Industry Partnership Program (NIPP), the challenge attracted 207 submissions from 33 cities across India.

Two startups in India have won Paint the Future awards and the chance to continue working together with AkzoNobel to accelerate their solutions.

The winning submissions answered the company’s call for innovative ways to enhance the digital consumer experience for Dulux paints in India. The winners are:

  • HyperReality Technologies - Collaborative platform for inspiration and visualization of a space in the metaverse
  • Fluid AI - Multi-channel, conversational, immersive and interactive AI platform to guide consumers during their painting journey

Having already signed letters of intent to work together on sustainable business opportunities, the two winners now join AkzoNobel’s accelerator program.

The India startup challenge is the third regional edition of Paint the Future. Run in partnership with NASSCOM Industry Partnership Program (NIPP), the challenge attracted 207 submissions from 33 cities across India.

Nine finalists were invited to an intense two-day bootcamp program, where customized sessions with AkzoNobel experts helped them further refine their solution’s value proposition before the final pitch to the Paint the Future jury.

Source:

AkzoNobel

adidas Breast Cancer Awareness Collection - Free Hiker
16.09.2022

adidas launches Breast Cancer Awareness Collection

A Selection of Footwear and Apparel Designed to Raise Awareness and Funding for Breast Cancer Now and National Breast Cancer Foundation, Inc.

A Selection of Footwear and Apparel Designed to Raise Awareness and Funding for Breast Cancer Now and National Breast Cancer Foundation, Inc.

  • In partnership with the charities Breast Cancer Now (UK/Europe) and National Breast Cancer Foundation (US), the Collection brings together a range of products for running, hiking and mountain biking
  • £15/€15/$15 from each full-price sale will be donated to BCN (for purchases in the UK and EU) or NBCF (for purchases in the North America)
  • The Collection feature illustrations by adidas pro mountain biker Veronique Sandler, empathetically designed to represent the comfort that those with breast cancer have experienced in the outdoors

Inspired by the experiences of people and communities around the world, including its own employees and athletes, adidas is launching the Breast Cancer Awareness Collection this October.
Available throughout Breast Cancer Awareness Month, the adidas Breast Cancer Awareness Collection sees adidas partnering with Breast Cancer Now in the UK and Europe, and National Breast Cancer Foundation, Inc. in the US, to help raise awareness of breast cancer and support the vital work both charities do.

The products in the Breast Cancer Awareness Collection have been chosen to help everyone, regardless of physical ability or condition, spend more time in the outdoors.
The collection’s focus on functional footwear and apparel that is designed for the outdoors is in keeping with adidas' objective to help broaden access to outdoor sports and help everyone enjoy the benefits of spending time in nature. With United by Summits, adidas TERREX is taking this brand-wise ethos further by encouraging all people, from every background, to realise their own individual goals in the outdoors and enjoy the benefits of adventure, both big and small.

The collection is available for purchase in limited quantities from September 30, 2022 until the end of October 2022 for adiClub members only, and £15/€15/$15 from each full-price sale of the adidas Breast Cancer Awareness Collection will be donated to Breast Cancer Now (for purchases in the UK and EU) or National Breast Cancer Foundation, Inc. (for purchases in North America). The money raised will contribute to the important work these charities are doing.

More information:
adidas Charity breast cancer
Source:

adidas

(c) Borealis
08.09.2022

Borealis and Trexel develop fully recyclable lightweight bottle

  • Monomaterial solution contains renewably-sourced polypropylene from the Bornewables™ portfolio of circular polyolefins
  • Trexel employs its proprietary MuCell® technology to deliver a range of lightweighting benefits
  • EverMinds™ in action: reuse and design for recycling are focus of value chain collaboration

Borealis and Trexel, an expert in foaming injection and blow moulded parts, announce that they have co-developed a new plastic bottle based on a grade from the Bornewables™ portfolio of polyolefins made using renewable feedstocks derived 100% from waste and residue streams. The lightweight bottle – which will be showcased at the Borealis stand at the K 2022 (from 19 to 26 October 2022 in Düsseldorf) – is reusable and fully recyclable. It boasts a significantly lower overall CO2 footprint because it is composed of renewably-sourced feedstock and produced in the foaming process.

  • Monomaterial solution contains renewably-sourced polypropylene from the Bornewables™ portfolio of circular polyolefins
  • Trexel employs its proprietary MuCell® technology to deliver a range of lightweighting benefits
  • EverMinds™ in action: reuse and design for recycling are focus of value chain collaboration

Borealis and Trexel, an expert in foaming injection and blow moulded parts, announce that they have co-developed a new plastic bottle based on a grade from the Bornewables™ portfolio of polyolefins made using renewable feedstocks derived 100% from waste and residue streams. The lightweight bottle – which will be showcased at the Borealis stand at the K 2022 (from 19 to 26 October 2022 in Düsseldorf) – is reusable and fully recyclable. It boasts a significantly lower overall CO2 footprint because it is composed of renewably-sourced feedstock and produced in the foaming process.

The Bornewables™ portfolio of circular polyolefins helps reduce the carbon footprint while offering material performance equal to virgin polymers. Using Bornewables grades allows for design freedom and colour flexibility, and helps retain a premium look and feel. The grades – which are commercially available in Europe – help conserve natural resources because they are derived solely from waste and residue streams, for example from used cooking oil. Reusing waste already in circulation instead of fossil fuel-based feedstocks enhances the sustainability of applications made using the Bornewables grades.

The reusable new bottle developed by Borealis and Trexel retains its value over many life cycles thanks to the use of Trexel’s proprietary technology in tandem with Bornewables grades; as a material solution, the new bottle minimises the use of valuable raw materials. Moreover, converters consume less energy in the production process when using the MuCell® technology. The bottle thus helps close the loop on plastics circularity by way of design for recycling, the use of renewable feedstocks, and excellent material performance across multiple life cycles.

Source:

Borealis

06.09.2022

SGL Carbon increases sales and earnings guidance again for 2022

Due to the continued good business development, especially in the Carbon Fibers Business Unit, SGL Carbon SE is increasing its Group sales and earnings guidance for the current fiscal year and now expects Group sales of approximately €1.2 billion (previously: approximately €1.1 billion). The company expects to achieve adjusted EBITDA (EBITDA pre = earnings before interest, taxes, depreciation and amortization before one-off effects and non-recurring items) of €170 - €190 million (previously: €130 - €150 million) in 2022.

Based on lower prices for acrylonitrile as main raw material of the Business Unit Carbon Fibers as well as higher than expected customer demand for acrylic and carbon fibers combined with consistently good production capacity utilization and capability, the management of SGL Carbon SE assumes an improved earnings development of this Business Unit.

Due to the continued good business development, especially in the Carbon Fibers Business Unit, SGL Carbon SE is increasing its Group sales and earnings guidance for the current fiscal year and now expects Group sales of approximately €1.2 billion (previously: approximately €1.1 billion). The company expects to achieve adjusted EBITDA (EBITDA pre = earnings before interest, taxes, depreciation and amortization before one-off effects and non-recurring items) of €170 - €190 million (previously: €130 - €150 million) in 2022.

Based on lower prices for acrylonitrile as main raw material of the Business Unit Carbon Fibers as well as higher than expected customer demand for acrylic and carbon fibers combined with consistently good production capacity utilization and capability, the management of SGL Carbon SE assumes an improved earnings development of this Business Unit.

SGL Carbon assumes that the factors mentioned will continue at least until the end of the year and that the earnings situation of the Business Unit Carbon Fibers will exceed previous expectations. Combined with the continued good business development of the other three Business Units (Graphite Solutions, Process Technology and Composite Solutions), an improvement in the sales and earnings situation at Group level is expected.

In line with the forecast increase for adjusted EBITDA (EBITDA pre) to between €170 and €190 million (previously: €130 - €150 million), the company is forecasting adjusted EBIT (earnings before interest and taxes and before one-off effects and non-recurring items) of between €110 and €130 million (previously: €70 - €90 million). The forecast for return on capital employed (ROCE) of originally 7% - 9% has been raised to 10% to 12% corresponding to the development of earnings. The expectations for free cash flow (significantly below previous year's level of €111.5 million) remain unaffected by the expected improvement in sales and earnings.

The updated forecast for fiscal 2022 has been prepared on the basis of the currently prevailing market environment and assumes no deterioration in the general conditions, in particular due to the war in Ukraine and its consequences for the global economy.
 
The definition of key figures used in this release is aligned to the Annual Report 2021. There were no changes in the scope of consolidation or accounting methods compared with the previous guidance.

Source:

SGL CARBON SE

Beaulieu International Group
23.08.2022

BIG at EuroGeo7 with geotextile fibres & woven fabrics

Beaulieu International Group invites EuroGeo7 attendees to discover geotextile solutions promoting greater sustainability for future civil engineering projects. Specialists from Beaulieu Fibres International (BFI) and Beaulieu Technical Textiles (BTT) will present high-performance geosynthetics through high tenacity fibres for lightweight, nonwoven geotextiles, and a range of high durability woven geotextile solutions with an environmentally beneficial impact.

Beaulieu International Group invites EuroGeo7 attendees to discover geotextile solutions promoting greater sustainability for future civil engineering projects. Specialists from Beaulieu Fibres International (BFI) and Beaulieu Technical Textiles (BTT) will present high-performance geosynthetics through high tenacity fibres for lightweight, nonwoven geotextiles, and a range of high durability woven geotextile solutions with an environmentally beneficial impact.

“We are delighted to sponsor EuroGeo7 and to be finally on-site, following a two-year postponement of the event. EuroGeo7 is bringing the geotextile community together to further promote and develop geosynthetics in a fast changing global economy striving for growth while reducing its carbon footprint along the supply chain, " comment from Jefrem Jennard, Sales Director Fibres, and Roy Kerckhove, Sales Director Technical Textiles. “Geotextiles provide highly versatile, durable and natural resource-saving alternatives in large infrastructure works, and offer durable protection in erosion control and waste/water management projects. We are continuously developing our fibres and finished engineering textiles with proven sustainability-enhancing benefits to progress product development and customer sustainability goals on fossil carbon reduction, while taking concrete steps to reduce our own environmental footprint.”
 
Sustainability improvement is key to the long-term strategy of Beaulieu International Group, and it is committed to supporting the geotextile industry by targeting and accelerating change and communicating the sustainable performance of its products. The UN Sustainable Development Goals are integrated into its business and are the foundations of the new Route 2030 Sustainability Roadmap.


For manufacturers of nonwoven geotextiles, BFI’s high-tenacity HT8 staple fibres enable customers to achieve nonwovens with high mechanical performance at reduced fibre weight. The HT8 high tenacity fibres are designed in a way that customers can meet the industry durability standards for a longer service lifetime, supporting more sustainable design and resource reduction over time. BTT’s woven geotextiles are amongst the most sustainable in the industry and provide a wide range of functions, including separation, filtration, reinforcement and erosion control.

BFI and BTT have conducted lifecycle assessments to calculate their activities' carbon footprint and solutions and have received external recognition for their ongoing sustainability efforts. For example, in 2022, BFI was awarded a Silver EcoVadis sustainability rating, and BFI and BTT are proud recipients of the Voka Charter for Sustainable Entrepreneurship 2022.

Source:

Beaulieu International Group

(c) Freudenberg Performance Materials
23.08.2022

Freudenberg at Lineapelle with sustainable materials for leather goods

Freudenberg Performance Materials (Freudenberg) will be presenting Evolon® eco-friendly microfiber reinforcement material for leather goods that is manufactured in Europe with no solvent and no chemical binder at the Lineapelle international trade show for the leather industry. Another sustainability highlight is binder-free strobel material made from 100% recycled PET for the shoe industry. The company will also be showing a nonwoven crimping material that meets the increasing demands of manufacturers and consumers alike in the footwear market.

Evolon® contains 80% recycled PET. It is produced at Freudenberg’s facility in Colmar, France, where the manufacturing process is highly sustainable: it is certified to STeP by OEKO-TEX® and fully complies with the DETOX TO ZERO by OEKO-TEX® criteria. In addition, shorter transport routes help to secure supply chains for players in the European leather goods industry.

Freudenberg Performance Materials (Freudenberg) will be presenting Evolon® eco-friendly microfiber reinforcement material for leather goods that is manufactured in Europe with no solvent and no chemical binder at the Lineapelle international trade show for the leather industry. Another sustainability highlight is binder-free strobel material made from 100% recycled PET for the shoe industry. The company will also be showing a nonwoven crimping material that meets the increasing demands of manufacturers and consumers alike in the footwear market.

Evolon® contains 80% recycled PET. It is produced at Freudenberg’s facility in Colmar, France, where the manufacturing process is highly sustainable: it is certified to STeP by OEKO-TEX® and fully complies with the DETOX TO ZERO by OEKO-TEX® criteria. In addition, shorter transport routes help to secure supply chains for players in the European leather goods industry.

The binder-free strobel material is made from 100% recycled PET. It is GRS-certified for reliable traceability. The GRS certification recognizes the share of recycled materials in the strobel material. This allows customers to calculate the total amount of recycled material in shoes. Moreover, the mono-component material itself is fully recyclable. In terms of performance, the material is lightweight and also demonstrates a high tensile strength.

Made from nonwoven fabric, the innovative crimping material optimally combines high permanent moldability and shape retention with flexibility and suppleness. This crimping material enables manufacturers to reduce their production costs, while consumers benefit from increased comfort. Compared to conventional knitted fabric-based crimping materials, the nonwoven crimping material offers multi-directional stretching properties, improved fitting, greater design freedom and reduced weight.

Source:

Freudenberg Performance Materials

(c) Textile Exchange
23.08.2022

The Ryan Young Climate+ Awards: Applications open by August 31

The second annual Ryan Young Climate+ Awards will take place this November 2022 at the annual Textile Exchange conference. Nominations are open until August 31, 2022.

The late Ryan Young, Textile Exchange COO from 2017-2020, is the inspiration behind Textile Exchange’s Climate+ Strategy, which is for the organization to serve as “a driving force for urgent climate action,” with a goal of 45% reduced CO2 emissions from textile fiber and material production by 2030. Ryan’s bold and courageous spirit defined what Textile Exchange and its members must do to tackle the climate crisis.

In honor of Ryan and his vision, TE will again be awarding Ryan Young Climate+ Awards to outstanding individuals and teams who show a clear commitment to the Climate+ vision along with other leadership traits.

Winners will be announced at the 2022 Textile Exchange Conference which will take place virtually and in person in Colorado Springs, U.S. from November 14-18, 2022.

The second annual Ryan Young Climate+ Awards will take place this November 2022 at the annual Textile Exchange conference. Nominations are open until August 31, 2022.

The late Ryan Young, Textile Exchange COO from 2017-2020, is the inspiration behind Textile Exchange’s Climate+ Strategy, which is for the organization to serve as “a driving force for urgent climate action,” with a goal of 45% reduced CO2 emissions from textile fiber and material production by 2030. Ryan’s bold and courageous spirit defined what Textile Exchange and its members must do to tackle the climate crisis.

In honor of Ryan and his vision, TE will again be awarding Ryan Young Climate+ Awards to outstanding individuals and teams who show a clear commitment to the Climate+ vision along with other leadership traits.

Winners will be announced at the 2022 Textile Exchange Conference which will take place virtually and in person in Colorado Springs, U.S. from November 14-18, 2022.

The 2022 award categories and criteriaare listed below:
Nominees may be brands, retailers, farmers and/or ranchers, and raw material suppliers.
Winners will receive one free full-access pass to attend the Conference (travel not included).

Three Ryan Young Climate+ Award Categories:

  1. Overall leadership – individual
  2. Overall leadership – team
  3. Rising star – individual with less than 5 years of industry experience

Award recipients will meet the following criteria:

  • Commitment to Climate+ – involved in accelerating Climate+ action in the apparel, textile, and footwear industry.
  • Collaboration – reflective of Ryan’s vision and determination to collaboratively move the industry forward.
  • Impact – driving innovative, scalable, transparent programs with measurable impact reduction and/or beneficial impacts on climate, water, soil health, and/or biodiversity at the raw materials level. Achievements/solutions are backed by trusted data and/or reporting.
  • Leadership and Inspiration – clearly demonstrating leadership and vision for industry climate solutions over the past year and beyond
Source:

Textile Exchange

(c) Bogner
17.08.2022

BEST OF BOGNER Collection Fall/Winter 2022

  • OFF TO NEW HORIZONS

BOGNER was founded on innovations and adventures. When looking back, it is to 90 years of pioneering heritage. The company celebrates the past while welcoming the future with a selection of iconic BOGNER silhouettes revived and reinterpreted.

BEST OF BOGNER Fall/Winter 2022 combines innovative craftsmanship with luxury and progress. A collection of refined looks that create a sense of loose elegance and lightness.

Luxurious materials such as Bavarian wool, high-performance stretch nylon and performance travel wool are combined with embroidery, color blocking, cable knit patterns and fringes. The result: a fashion revival with iconic, timeless silhouettes and modern, luxurious highlights.

  • OFF TO NEW HORIZONS

BOGNER was founded on innovations and adventures. When looking back, it is to 90 years of pioneering heritage. The company celebrates the past while welcoming the future with a selection of iconic BOGNER silhouettes revived and reinterpreted.

BEST OF BOGNER Fall/Winter 2022 combines innovative craftsmanship with luxury and progress. A collection of refined looks that create a sense of loose elegance and lightness.

Luxurious materials such as Bavarian wool, high-performance stretch nylon and performance travel wool are combined with embroidery, color blocking, cable knit patterns and fringes. The result: a fashion revival with iconic, timeless silhouettes and modern, luxurious highlights.

Source:

Bogner

15.08.2022

THE ITALIAN LUSTER at Munich Fabric Start

Munich Fabric Start presents a new project-area that will take place during the next edition.
BLUEZONE with CATALYZER and KEYHOUSE will be the place to be for the blue community on 30 and 31 August. As a global key event for the denim industry, 90 international denim mills, weavers, manufacturers and suppliers will show their latest innovations and trends in the Zenithhalle, the Kohlebunker and the Kesselhaus.

"THE ITALIAN LUSTER" will offer all visitors a deep dive into the Made in Italy supply chain with companies that have turbocharged growth by focusing on quality, innovation and research. Well-known and international companies that can make an important contribution to European and global brands.

From the production of trimmings and accessories, to the creation of unique fabrics, to the inspiration of new collections and their realization to the finishing of the garments, Made in Italy still represents the reality par excellence focused on ethical and sustainable production.

Munich Fabric Start presents a new project-area that will take place during the next edition.
BLUEZONE with CATALYZER and KEYHOUSE will be the place to be for the blue community on 30 and 31 August. As a global key event for the denim industry, 90 international denim mills, weavers, manufacturers and suppliers will show their latest innovations and trends in the Zenithhalle, the Kohlebunker and the Kesselhaus.

"THE ITALIAN LUSTER" will offer all visitors a deep dive into the Made in Italy supply chain with companies that have turbocharged growth by focusing on quality, innovation and research. Well-known and international companies that can make an important contribution to European and global brands.

From the production of trimmings and accessories, to the creation of unique fabrics, to the inspiration of new collections and their realization to the finishing of the garments, Made in Italy still represents the reality par excellence focused on ethical and sustainable production.

"THE ITALIAN LUSTER" will allow all visitors an incredible journey into the Italian supply chain that has the ability to meet any demand of brands, from small to large production needs.

On the top floor of the Catalyzer Hall, it will be possible to view the individual collections of the companies in attendance and receive a beautiful gift specially created by the CADICA GROUP company from Carpi.

 
Participants
ACM - TRIMS AND ACCESSORIES PRODUCER
ACM was founded in 1982.
Since 1982, ACM has been providing the fashion world with unique, sought-after and customized details, guaranteeing prestigious and innovative workmanship. Each and every product is the result of the care we take at every stage of our production process: from the prototype, designed by putting the consumer's health first, to production with state-of-the-art machinery, which allows for fine workmanship and cutting-edge customization, while minimizing the impact on the environment (we are GRS certified) and complying with the strictest eco-toxicological regulations.

FASHION ART - LUXURY FASHION DESIGN
Fashionart is the brainchild of Andrea Rambaldi, who, after learning his trade from his parents, his mother a seamstress and his father the owner of a dye shop, decided to pursue a freelance career.
He began by collaborating with companies in the textile sector, where he deepened his knowledge in the field of chemistry and industrial processes, touching on the problems of processing cycles.
The real turning point came as a result of an important job for the Maison Chanel, which recognized the originality and effectiveness of his technical proposals. From that moment, this is 2008, FashionArt was born, a company focused on luxury fashion and design, expert in the design and production of garments.
From the idea to the final product, the company is able to support the client throughout the entire production process.
Since then, the company has grown and developed exponentially thanks to a team of managers, artists and experts whose experience makes them a benchmark in the high fashion industry. Fashionart operates exclusively in high fashion, a very difficult field in which to combine experience and technique with art and creativity, where our potential can be expressed to the fullest.

ELLETI - GARMENTS AND WASHING MAKER
Advocate of an approach that combines tradition, creativity, and innovation, for over 30 years Elleti Group has defined standards of absolute excellence for the denim industry. Born in the 80s in San Bonifacio, near Verona, the company developed in a one-of-a-kind context, a hotbed of ideas that led to the defining and establishing of new professions and skills in the field of denim treatment and garment personalization. Led by Luigi Lovato, right from the start the company established itself on the denim scene thanks to an ambitious and pioneering investment in new solutions. The following ten years mark an important growth which leads to the internationalization both of brand and production. After the implementing of a new department for garment dyeing, Elleti Group was ready to welcome the ever-increasing international demand, equipping itself with the first laundry in Tunisia, a country logistically central in the Mediterranean area, and as a result, ideal for the development of a complete textile supply chain. This successful story continues to unfold in the 2000s, a decade that marks the opening to the market of garment making thanks to two new structures in Romania, and peaks with the acquisition of Martelli Lavorazioni Tessili. Today Elleti Group stands firm in the market as a result of a complete offer that preserves the company’s artisanal vocation enriched through a constant process of responsible innovation.

In addition, companies BERTO INDUSTRIA TESSILE and OLIMPIAS GROUP will participate in the project by presenting their collections within their booths in the Catalyzer hall.

Source:

EFFE-BI SRL PR & COMMUNICATION

Foto: Unplash
10.08.2022

High-tech center for cotton processing and fiber-to-fiber recycling being built in Africa

IFFAC (Impact Fund for African Creatives) has revealed plans which will revolutionise West African textile and garment production at one stroke. The fund is converting a partially disused textile mill in the region into a hi-tech centre for processing local cotton and recycling waste fabric, to produce both fabric for further processing and new clothes. The mill will be equipped with modern equipment, all sustainably powered by hydroelectricity from the nearby Volta Dam.

West Africa grows about 6% of the world’s cotton but only a tiny fraction of that crop is processed on the continent, the vast majority being shipped thousands of miles to Asia before being shipped back again as finished or part-finished fabrics. The mill project will end the continent’s reliance on such an unsustainable practice with all the obvious financial and environmental benefits.

IFFAC (Impact Fund for African Creatives) has revealed plans which will revolutionise West African textile and garment production at one stroke. The fund is converting a partially disused textile mill in the region into a hi-tech centre for processing local cotton and recycling waste fabric, to produce both fabric for further processing and new clothes. The mill will be equipped with modern equipment, all sustainably powered by hydroelectricity from the nearby Volta Dam.

West Africa grows about 6% of the world’s cotton but only a tiny fraction of that crop is processed on the continent, the vast majority being shipped thousands of miles to Asia before being shipped back again as finished or part-finished fabrics. The mill project will end the continent’s reliance on such an unsustainable practice with all the obvious financial and environmental benefits.

As well as producing fabric from sustainably grown virgin cotton, a joint venture with Shandong-based WOL Textiles Ltd., a privately owned plant that has long supplied the African market, the mill will be home to a state-of-the-art shredding and recycling facility, a joint venture between IFFAC and the Dutch Circularity B.V. CEO Han Hamers of Circularity B.V. in The Netherlands, has been involved in the production of 100% circular knit and woven articles.

The mill project is expected to create over a thousand jobs. The surrounding area already boasts a significant number of experienced textile workers ready to be retrained on the new equipment. While the majority of the products created will be sold within the region, all processes will confirm to new EU Supply Chain Law to allow for the possibility of export.  

Output is forecast at six million pieces of finished clothing and twenty-five million metres of spun and woven cloth per year. In total, thirty million US$ of investment will be made in the site with operations ready to begin next year (2023).

More information:
IFFAC Africa Recycling
Source:

Circularity Germany GmbH i.G.

10.08.2022

Indorama Ventures' Results for 2Q22: Fibers segment -35% QoQ

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

  • Record Revenue of US$5,451M, an increase of 23% QoQ and 53% YoY
  • Record Reported EBITDA of US$1,010M, up 29% QoQ and 83% YoY
  • Reported Net Profit of THB 20.3B, an increase of 44% QoQ and 143% YoY.
  • Reported EPS of THB 3.58 (LTM2Q22: 8.11) and Core EPS of THB 2.32 (LTM2Q22:6.16)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, reported record 2Q22 earnings as the company’s global integrated model continues to benefit from strong consumer trends and management responded effectively to market disruptions.

IVL posted a record Core EBITDA of US$758 million in the second quarter, up 17% QoQ and 59% YoY. Sales revenue rose by about 11% QoQ on a same-store basis, supporting a Core EBITDA margin of 14%. The combination of strong sales and improved margins helped offset higher energy costs in the U.S. and Europe, while management leveraged the company’s leading position in local and regional markets to ensure uninterrupted customer service levels as higher crude oil prices impacted raw materials costs.

Fibers segment posted Core EBITDA of US$55 million, a decrease of 35% QoQ and 15% YoY, as sales declined 11% QoQ. The segment was impacted by lower demand in the Lifestyle vertical amid the China lockdown while higher freight rates restricted exports. The Hygiene vertical was impacted by volumes at Avgol’s Russia site along with increased polypropylene prices, while strength in the replacement tires market partially offset the ongoing semiconductor shortage, resulting in a stable performance for Mobility.

Source:

Indorama Ventures Public Company Limited

10.08.2022

Bluesign defines “sustainable attributes” for approved chemicals

By defining “sustainable attributes” for bluesign® APPROVED chemicals registered in the bluesign® FINDER, Bluesign is furthering its ability to provide more sustainable solutions by providing specified search functions to help chemical suppliers and the textile industry make better informed decisions. The bluesign® FINDER is a web-based, advanced search engine for manufacturers. It contains a positive list of preferred chemical products. Today more than 20,000 bluesign® APPROVED chemical products are registered in the bluesign® FINDER.

Bluesign® APPROVED chemical products meet the stringent bluesign® CRITERIA for chemical assessment. That means that the approved chemicals are produced following occupational health and safety (OH&S) practices with less environmental impact and excellent Product Stewardship following the principles of Input Stream Management and sustainable chemistry.

By defining “sustainable attributes” for bluesign® APPROVED chemicals registered in the bluesign® FINDER, Bluesign is furthering its ability to provide more sustainable solutions by providing specified search functions to help chemical suppliers and the textile industry make better informed decisions. The bluesign® FINDER is a web-based, advanced search engine for manufacturers. It contains a positive list of preferred chemical products. Today more than 20,000 bluesign® APPROVED chemical products are registered in the bluesign® FINDER.

Bluesign® APPROVED chemical products meet the stringent bluesign® CRITERIA for chemical assessment. That means that the approved chemicals are produced following occupational health and safety (OH&S) practices with less environmental impact and excellent Product Stewardship following the principles of Input Stream Management and sustainable chemistry.

In addition to the existing functions within the bluesign® FINDER, bluesign® SYSTEM PARTNER chemical suppliers can claim selected sustainability attributes for their bluesign® APPROVED chemical products that will be displayed within the bluesign® FINDER. Sustainability claims will be verified by Bluesign during on-site assessments and through chemical assessments. Requirements and data provisions will be laid out in the criteria: bluesign® CRITERIA for chemical assessment ANNEX: Sustainability attributes for bluesign® APPROVED chemical products.

The bluesign® FINDER will be amended with search functions starting this year with the below first priority attributes:

  1. Renewable feedstock (biomass* or bio-based)
    The sustainability attribute ‘Renewable feedstock (biomass or bio-based)’ is intended for use with any chemical product that contains at least 20% biomass content by weight in the form of biomass-derived carbon.
  2. Sustainably sourced renewable feedstock (biomass* or bio-based)
    The sustainability attribute ‘sustainably sourced renewable feedstock (biomass or bio-based)’ is intended for use with any chemical product that contains at least 20% biomass content by weight in the form of biomass-derived carbon. The biomass content shall originate from land that is certified sustainable.
  3. Recycled content
    The sustainability attribute ‘Recycled content’ is intended for use with any chemical product that contains at least 20% recycled content by weight. For the calculation of the recycled content only the dry content of the chemical product shall be regarded, excluding water.
More information:
bluesign chemicals Sustainability
Source:

Bluesign

09.08.2022

Huntsman announces Agreement to sell Textile Effects Division

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

Huntsman Corporation (NYSE: HUN) announced it has entered into a definitive agreement to sell its Textile Effects division to Archroma, a portfolio company of SK Capital Partners.  The total enterprise value of the transaction is approximately $718 million, which includes the assumption of approximately $125 million in net underfunded pension liabilities as of December 31, 2021. The acquisition is being partially funded with preferred equity, of which Huntsman is taking up to $80 million, an amount SK Capital Partners will seek to syndicate prior to the transaction closing.

Over the last twelve months ending June 30, 2022, the Textile Effects division reported sales of $772 million and adjusted EBITDA of $94 million. Huntsman anticipates cash taxes on the transaction of approximately $50 million. Huntsman intends to report Textile Effects as discontinued operations beginning in the third quarter of 2022. The transaction is subject to regulatory approvals and other customary closing conditions and is expected to close in the first half of 2023.       

Peter Huntsman, Chairman, President, and CEO commented:

"Over the past seven months, we have conducted a comprehensive strategic review of our Textile Effects division, including detailed discussions with a wide range of relevant parties. After evaluating several different options and thoroughly reviewing prospective offers for the business, our Board of Directors decided that SK Capital would be a better owner of the business over the long-term than Huntsman and that the value they offered was in the best interests of our shareholders. After closing, Textile Effects will combine with SK Capital's Archroma business to create a world leader in textile chemicals and dyes, with a leadership in sustainability and innovation.

"We expect the cash proceeds from this divestiture to be deployed in-line with our current balanced capital allocation program which includes strategic investments and acquisitions to further strengthen our core businesses as well as returning cash to shareholders through both our dividend and share repurchase program."