From the Sector

DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, provides an update on the progress of Share Purchase Agreement signed for the acquisition of 37.57% of the issued share capital of DyStar Global Holdings (Singapore) Pte Ltd.

1. Zhejiang Longsheng Group Co., Ltd. has paid a deposit of USD 3,482,739 into the escrow account and submitted the required filing documents to the National Development and Reform Commission and the Ministry of Commerce. As of this date, these filings remain pending.
2. On November 4, an extension of the final deadline was mutually agreed via email between Zhejiang Longsheng Group Co., Ltd. and the Receivers (appointed by Deloitte & Touche Financial Advisory Services Pte Ltd), extending the deadline to December 1, 2025.
3. An additional USD 5,112,156 deposit is required to be transferred to the escrow account within 10 working days following November 3, 2025.
4. A supplemental agreement will be carried out to formally document this extension.

Mr. Xu Yalin, Managing Director and President of DyStar Group, stated: “DyStar remains confident in Zhejiang Longsheng Group’s ability to advance the transaction and complete the necessary regulatory filings and approvals from government authorities.”

DyStar is committed to transparency and to ensuring accurate information is communicated to all stakeholders and interested parties in a timely manner.

With more than 840 exhibitors from 30 countries and thousands of visitors from more than 100 nations ITMA ASIA + CITME 2025 was a truly international show. Visitors came with clear project ideas, leading to many inspiring and fruitful discussions.

Numerous VDMA members reported closed orders and deals – a positive sign for the machinery sector. “Better than expected”: this was a frequent statement from exhibiting companies.
The testimonials from VDMA member companies reflect a successful trade fair:

"ITMA ASIA + CITME 2025 in Singapore has been a real INTERNATIONAL Textile Machinery Exhibition in Asia, attracting visitors from more than 100 countries. The numbers and quality hoped for have been exceeded. In this friendly and well organised city, smiles were also very much seen at the EXPO during the exhibition."
Dr. Janpeter Horn, Chairman, VDMA Textile Machinery Association

“ITMA ASIA + CITME 2025 in Singapore was a great success also for Mahlo. The show brought together the right people, the right ideas, and the right energy. A truly international event that delivered valuable insights and confirmed the industry's commitment to innovation. We could discuss specific challenges and solutions with numerous industry professionals from across Asia.”
Thomas Höpfl, Sales Director, Mahlo 

“ITMA ASIA + CITME 2025 in Singapore was a great success for Trützschler. The event brought together an international mix of visitors and offered high-quality discussions with customers and business partners.”
Alexander Stampfer, CSO, TRÜTZSCHLER Group

“Singapore was the ideal stage for ITMA ASIA + CITME 2025, drawing a highly engaged global audience. The exhibition proved to be an outstanding platform for meaningful dialogue and networking. The strong visitor presence and the depth of discussions underscore the industry’s commitment to innovation and sustainability. With automation and future technologies taking centre stage, the event exceeded expectations by creating an environment where visionary ideas and practical solutions converged. Customers are once again ready to invest, signalling renewed confidence and growth opportunities. This positive momentum encourages us and strengthens our outlook for the future.”
Werner Volkaert, Managing Director, Sedo Treepoint

"ITMA ASIA + CITME 2025 in Singapore proved to be a truly global platform, bringing together a remarkably international audience. The high visitor numbers, the quality of discussions, and the strong focus on innovation and sustainability reflected the industry's evolving priorities. For us, the event reaffirmed the importance of personal dialogue in shaping the future of nonwovens and textile technology."
Tobias Schäfer, Vice President, ANDRITZ Nonwoven & Textile

“We were impressed by the high quality and diversity of visitors at ITMA ASIA + CITME 2025 in Singapore. The event proved to be an excellent platform for meaningful discussions and new connections across the entire Asian textile market. Singapore’s dynamic and well-organized setting provided the ideal environment to exchange ideas, explore innovations, and strengthen partnerships throughout the region. Focus topics were definitely increasing efficiency in the textile production at currently uncertain times.” 
Kathrin Pleva, Managing Director, PLEVA

“ITMA ASIA + CITME 2025 Singapore was well attended and attracted qualified visitors. It's strategic geographic location connected the Southeast Asian region and positioned the event as a central meeting point for the textile industry.”
Riccarda Dilo, Member of the Executive Board, DILO Group

“Choosing Singapore as the location for ITMA ASIA + CITME 2025 was absolutely the right decision. Our expectations were exceeded both in terms of the quality and the number of international visitors.”
Torsten von Koch, Sales Director, Georg Sahm 

“ITMA ASIA + CITME 2025 in Singapore was worth a visit. The location was excellent for visitors from the ASEAN countries and Singapore offers an excellent infrastructure. We were impressed by the numbers of visitors and the quality of meetings with customers, who came mainly from Pakistan, India and Bangladesh. The focus of visitors was on the finishing of outerwear, denim and automation. Many customers plan to realize their projects in the course of 2026.”
Hans-Gerhard Wroblowski, Sales Manager SEA, A. Monforts Textilmaschinen 

From 16 to 22 September 2027, ITMA will return to Germany (Hannover) for the first time in 20 years. The leading international trade fair for textile machinery and clothing technology is expected to attract over 100,000 decision-makers from almost all textile-producing countries. 

In the first nine months of 2025, Lenzing AG recorded revenue growth and higher EBITDA, but a market-driven volatile third quarter. This performance reflects the effects of ongoing market volatility, tariffs and geopolitical uncertainties. Nevertheless, the medium to long-term outlook remains positive. 
 
The revenue generated by Lenzing AG rose by 0.7 percent to EUR 1.97 bn (prior-year period: EUR 1.96 bn) in the first nine months. EBITDA grew by 29.1 percent to EUR 340.4 mn (prior-year period: EUR 263.7 mn), including effects from the sale of surplus emission allowances and the valuation of biological assets. The EBITDA margin improved to 17.3 percent (prior-year period: 13.5 percent). Earnings before interest and tax (EBIT) amounted to EUR 20.6 mn (prior-year period: EUR 38.3 mn), which corresponds to an EBIT margin of 1 percent (prior-year period: 2 percent). This result includes asset impairments of EUR 82.1 mn in Indonesia. Earnings before tax (EBT) amounted to EUR minus 98.7 mn (prior-year period: EUR minus 33.4 mn).  
 
Strategic development 
Lenzing AG pursues a holistically adapted strategy with a clear focus on value-generating growth. Key pillars of this strategy include enhancing operational efficiency, optimizing production sites, and targeting high-margin premium products such as TENCEL™, VEOCEL™, and LENZING™ ECOVERO™. Additional growth potential is expected particularly in the fields of hygiene, packaging, filtration, as well as medical and industrial applications. 
 
To sustainably secure this growth and strengthen long-term competitiveness, the company has initiated a strategic review of its production site in Indonesia. The planned measures – including adjustments to administrative functions – are expected to generate additional annual savings of approximately EUR 45 mn by the end of 2027. For the current reporting year, the Management Board anticipates cost savings exceeding EUR 180 mn. Furthermore, the company is investing over EUR 100 mn in its sites in Lenzing and Heiligenkreuz and aims to achieve holistic energy optimization of more than 5 percent across all production locations. Strategic options for the site in Indonesia are being evaluated, including a potential sale. 
 
The Supervisory Board also made personnel decisions during the reporting period: The Managing Board mandate of Christian Skilich, Chief Pulp & Chief Technology Officer, was extended until May 2029. Mathias Breuer, currently Senior Vice President and responsible for the performance program, will become CFO from January 1, 2026, and succeed Nico Reiner, who is due to step down from his position at the end of 2025.  

Solid financial position in a difficult environment 
Thanks to its strong focus on cash management, Lenzing succeeded in leaving no doubt about its adequate liquidity position during the reporting period. As of September 30, 2025, the company held liquidity cushion of EUR 993 mn. The capital structure was strengthened by a EUR 500 mn hybrid bond and a EUR 545 mn syndicated financing facility. Net financial debt was reduced by 8.5% to EUR 1.4 bn as of the reporting date. With total assets of EUR 4.80 bn, this corresponds to an adjusted equity ratio of 30.7% as of September 30, 2025. 
 
Cash flow from operating activities amounted to EUR 284.6 mn (prior-year period: EUR 319.4 mn). Free cash flow was also positive at EUR 110.9 mn. (prior-year period: EUR 194.0 mn) Furthermore, unlevered free cash flow amounted to EUR 192.1 mn (prior-year period: EUR 228.6 mn). 
 
Capital expenditure amounted to EUR 93.2 mn (prior-year period: EUR 93.3 mn).  

Outlook 
The global environment remains volatile. The International Monetary Fund (IMF) expects growth of 3.2 percent in 2025, but warns of trade conflicts and financial instability. Consumer sentiment is subdued, and higher tariff costs could further weigh on demand in 2026. Based on the business performance to date and the current market outlook, the Managing Board expects year-on-year growth in EBITDA in 2025. The actual business performance may nevertheless diverge from current expectations depending on geopolitical and economic factors as well as the cyclical nature of the industry. Any assessment of economic development is therefore subject to forecasting risks.

A new chapter for circular plastics in Europe began November, 5 with the official opening of Områ, Norway’s new national facility for sorting all types of plastic packaging waste—including plastic that previously had no other option than to go to incineration.

Jointly owned by TOMRA (65%) and Plastretur (35%), the state-of-the-art facility has the capacity to process 90,000 tonnes of plastic per year, transforming plastic packaging waste into uniform polymer fractions ready for recycling.

Områ uses advanced sensor-based technology to sort mixed plastic waste into ten separate monofractions— including polyethylene (PE), polypropylene (PP), polyethylene terephthalate (PET), polystyrene (PS), and others — enabling improved recovery and increased recycling rates. This innovation closes the loop for plastics and represents one of the most advanced installations of its kind globally.

“Områ is more than a facility — it’s a missing link in Europe’s circular economy,” said Tove Andersen, President and CEO of TOMRA. “This facility has the capacity to receive and transform all of Norway’s household plastic packaging waste into recyclable fractions, essentially closing the loop for plastics. It is a cornerstone piece of infrastructure providing reliable offtake for mixed waste sorting facilities, and can help recover more resources from source separated material.”

The new facility, located at Holtskogen, just outside Oslo, will serve as a reliable offtake solution for municipalities and waste management companies considering the introduction of automated mixed waste sorting (MWS), a crucial step for increasing recycling rates without depending solely on household source separation.

By 2030 the EU requires minimum 55% of plastic packaging waste to be recycled (i.e., collected and recycled at scale) under the forthcoming PPWR. Today, approximately one-third of Norway’s plastic packaging waste is recycled; the rest is mostly incinerated. 

“Områ gives municipalities and the entire value chain a clear signal: there is now a scalable, high-quality route for plastic packaging,” said Karl Johan Ingvaldsen, CEO of Plastretur. “It provides the infrastructure needed to meet EU recycling targets and supports our shared ambition to build a truly circular plastics economy.”
 
About Områ
Områ is a joint venture between TOMRA Systems ASA (65%) and Plastretur AS (35%), established to develop and operate Norway’s first national fine-sorting facility for plastic packaging waste. The facility is located at Holtskogen, approx. 45 min outside Oslo, and has an annual processing capacity of 90,000 tonnes. Using TOMRA’s world-leading sensor-based sorting technology, Områ separates mixed plastic streams into up to ten distinct polymer fractions for high-value recycling.

106 brands, 16 locations, more than 70 events and around 10,000 registered visitors: interior design days cologne celebrated its premiere from 26 to 29 October 2025. The new, decentralised format brought interior design right into the city and combined brand presentations with inspiring talks, curated tours and a variety of networking highlights. The positive feedback from exhibitors and the public shows: idd cologne became the stage for exclusive interior design concepts in the residential, hospitality and contract business segments and transformed Cologne into a lively meeting point of the interiors community. 

"Urban-only": interior design staged in a new way 
With its "urban-only" concept, idd cologne relied on a new form of brand staging: the creative collections, interior design ideas and design trends were presented at authentic and architecturally special locations throughout the Cologne urban area. 

Central venues were the Design Post Köln – an official Koelnmesse cooperation partner as of this year –, the listed monument Stoff-Pavillon Moeller and the machwerkhaus köln, a centre for design and urban production. The concept was supplemented by numerous showrooms, creative locations, flagship stores and pop-up formats of the local design scene. In total, 106 brands from the premium range joined at 16 locations to form a unique city tour through the diverse world of interiors – from classic living through hospitality to contract solutions. Embedded in the architecture and atmosphere of Cologne, a total experience arose that presented interior design there where people live, work and design. 

Event highlights of the premiere 
The event programme of idd cologne was distinguished by depth of content and a high level of experience quality. In total, the event offered more than 70 events that combined design, architecture and urban life in an inspiring way. The spectrum extended from lectures and panel talks to sociable networking formats – the spirit of idd cologne was tangible throughout the city. 

The Urban Design Walks proved to be real crowd-pullers. The six tours led to central venues of idd cologne and made it possible to directly experience current design trends. In the Architonic Talks, leading minds from architecture and design provided forward-looking insights into themes like longevity, emotional spatial impact, brand identity and material properties. Also a special highlight was the idd cologne Aperitivo in the Stoff-Pavillon Moeller, which promoted an exchange and networking within the design community in a relaxed atmosphere. 

The future of idd cologne 
idd cologne 2025 was an important step in the continuing development of the trade fair portfolio in the furniture and interior design segment of the Cologne location. With the change to the urban format, idd cologne implemented important impulses and wishes of the industry. At the same time, it became evident how dynamic the current market situation is: forms of use, target groups and expectations are changing rapidly and call for flexible trade fair concepts. In a close exchange with the furniture industry, experience values, feedback and perspectives will now be evaluated by partners, exhibitors and visitors. Taking other market and economic situation development factors into account, this provides the foundation for the continuing development of idd cologne in future.  

idd cologne in figures 
A total of 106 premium brands participated in idd cologne 2025 at 16 locations throughout the Cologne urban area. More than 70 individual events took place. According to the figures for registrations, including the last day of the fair, around 10,000 visitors registered for interior design days cologne. 

Heraeus Precious Metals, a leading company in the precious metals industry, and RUDOLF, an international specialist in textile chemistry, have signed an agreement for the exclusive marketing of products for textile finishing and textile care. The cooperation focuses on Heraeus Precious Metals‘ AGXX technology, a groundbreaking antimicrobial innovation that has the potential to transform the textile industry in the long term.

AGXX works in a fundamentally different way to conventional biocides, especially silver technologies. The technology is based on a catalytic reaction triggered by the interaction of two precious metals. In the presence of air humidity, oxygen is converted into reactive oxygen species. These kill odour-causing and other microorganisms and also have an oxidative effect on odour-causing residues. As the mechanism is based on a circular redox system, AGXX technology is not consumed but continuously regenerated. The versatile technology can be integrated into textile finishing processes as well as directly into fibres and yarns.

By integrating the AGXX technology developed by Heraeus Precious Metals, RUDOLF is specifically expanding its portfolio with a technologically advanced solution for the functionalisation of textiles.

The strategic expansion of its product portfolio will enable the company to position itself even more clearly as an innovation leader in a dynamic market environment. Based on AGXX technology, it offers its customers optimised, market-ready products that provide them with differentiated added value in the areas of textile (initial) finishing, care and aftercare applications for industrial, commercial, professional and end-user purposes.

Martin Danz, Global Head of Antimicrobial Technologies at Heraeus Precious Metals, comments: „Our strategic collaboration with RUDOLF is a significant step towards the further development of the textile market. Together, we will continue to develop the application possibilities of AGXX particles in textile finishing and explore new areas of application and effectiveness for the technology.“

Marcos Furrer, Chief Executive Officer (CEO) of RUDOLF, explains: „This partnership sends a clear message: we are combining two strong innovative forces to give the textile industry new impulses. AGXX technology complements our portfolio perfectly – it is powerful, performance-oriented and offers real added value for our customers. Together with Heraeus Precious Metals, we are creating solutions that are functionally impressive and at the same time meet the growing demands of the market.“

As the global shift toward sustainable hydrogen storage accelerates, thermoplastic composites are emerging as a transformative enabler. Building on its longstanding partnerships with leading companies across the composites value chain, AZL Aachen GmbH has launched its new Joint Partner Project “Thermoplastic Pressure Vessels – Benchmarking of Design -for-Manufacturing Strategies to Optimise Material Efficiency and Cost”. Among the first participants, Toyota Motor Europe underscores the strategic importance o f a comparative evaluation of design and manufacturing concepts for thermoplastic composite pressure vessels.

Driving Innovation in Thermoplastic Composites
Thermoplastic composites offer unique advantages for high-pressure vessel applications: automation, energy efficiency, recyclability, and reprocess ability. However, when thermoset -derived design principles are applied unchanged, the unique processing and performance capabilities of thermoplastics remain largely untapped.

AZL’s new project therefore takes a holistic approach — thermoplastic -driven vessel designs, manufacturing processes, and material configurations to maximise both economic and technical performance.

Dr. Martin Kerschbaum, Manager ME22 at Toyota Motor Europe, highlights the motivation behind Toyota’s participation :
“The usage of thermoplastic resins for manufacturing of high -pressure hydrogen storage vessels is of high interest for Toyota. This is due to potential advantages in terms of design, processing, performance, and circularity. It is essential to compare and evaluate the diverse options of design and manufacturing strategies for high -pressure vessels based on thermoplastic composite materials. Gaining additional insights into the key influencing factors on material efficiency, production scalability and realistic cost - structure scenarios is a crucial part of this process. AZL’s structured approach – a combination of know-how in applications, composite materials and production systems with expertise across the entire value chain – provides Toyota with valuable input for the further development of innovative storage systems.”

A Structured, Comparative Development Framework
The nine-month project brings together international industry partners to explore new thermoplastic vessel concepts. It is structured into three work packages:
WP1: Market & Technology Landscape – mapping state -of -the -art technologies, certification protocols, and relevant IP.
WP2: Conceptual Design & Manufacturing Strategies – developing vessel architectures optimised for thermoplastics, evaluating design variants, and defining production system concepts.
WP3: Performance, Cost & Production Benchmarking – quantifying material usage, recyclability, cycle times, cost per unit, and carbon impact to guide industrial decision -making.

From Knowledge to Competitive Advantage
By actively involving engineers and decision-makers from participating companies, AZL’s Joint Partner Projects combine technical depth with strategic relevance. Participants not only gain access to engineering results and benchmarking data, but also develo p in -house expertise — enabling them to communicate more effectively with customers, suppliers, and investors in the hydrogen and CNG markets.

“AZL’s Joint Partner Projects create trusted spaces for knowledge exchange.” says Philipp Fröhlig, Head of Industrial Services at AZL Aachen GmbH. “Our goal is to enable every participant to make well-founded technical and business decisions for their own product roadmap. Companies, independent of newcomers or established players benefit from collective benchmarking, faster learning by first–hand information, and a shared understanding of what drives efficiency and competitiveness in thermoplastic pressure vessel technologies.”

AZL’s Proven Expertise in Pressure Vessel Technologies
AZL has long been recognised as a leading industrial hub for composite pressure vessels. Previous Joint Partner Projects and R&D programmes have addressed hydrogen and CNG vessel design, filament and towpreg winding, and thermoplastic processing technologies. Within RWTH Aachen University’s ecosystem, AZL combines cutting -edge design, simulation, production and testing infrastructure — covering the full range of technologies for component development, prototyping and developing production systems. This expertise is further amplified through the AZL Partnership Workgroup “Composite Pipes & Vessels”, a dedicated platform for continuous collaboration, knowledge exchange, and networking across the global composites industry. The new project builds on this foundation, offering participants both short- term insights and long -term strategic connections.

Join the Consortium and Shape the Future
The next report meeting on 5 November 2025 will provide an update on concept benchmarking and early design results. Companies interested in hydrogen and CNG storage technologies are invited to join the consortium, gain access to the project findings, and collaborate directly on defining the next generation of thermoplastic vessel concepts. In addition to this Joint Partner Project, AZL offers individual R&D support, benchmarking studies, and strategic guidance for companies developing lightweight composite pressure vessels and related components.

Girbau, a global leader in industrial laundry solutions, marked a key milestone this week: the official inauguration of its new production plant in Oshkosh (Wisconsin, USA), coinciding with the celebration of its 105th anniversary. Both events reinforce Girbau’s commitment to strengthening its presence in the North American market and to continuing its sustainable and customer-focused growth.

The inaugural event, held on October 29, was attended by representatives from local Wisconsin and Oshkosh authorities, ACCIÓ (the Agency for Business Competitiveness of the Government of Catalonia), and members of the Girbau and Continental Laundry Solutions teams. The day included guided tours of the facilities, institutional speeches highlighting the importance of this new factory as a symbol of international collaboration, local job creation, and commitment to industrial sustainability, as well as the traditional ribbon-cutting ceremony. The project was developed with the support and collaboration of ACCIÓ.

During the same week, the Girbau team celebrated its 105th anniversary together with the Continental Laundry Solutions team, as well as members of the Board of Directors and the Management Committee who traveled from Spain for the occasion. The event served to commemorate more than a century of innovation, commitment, and family spirit that have defined Girbau since its founding in 1920.

The new plant, with a current production capacity of 3,000 machines per year, has been designed to meet the specific needs of the U.S. market. Its production is exclusively destined for the local market, reinforcing the company’s strategy of proximity and service, and contributing to greater operational efficiency, faster delivery times, and a reduction in the logistical footprint. 

“This new plant symbolizes Girbau’s constant evolution: a company with more than a century of history that continues to look to the future with the same passion and commitment to our
customers and the planet,” said Mercè Girbau, President and CEO of Girbau. “The United States is a strategic market for us, and this inauguration reaffirms our intention to continue growing sustainably and collaboratively alongside our local partners.”

Suominen has appointed Francois Guetat, M.Eng., as Chief Operating Officer, and member of Suominen Leadership Team effective November 3, 2025.

Francois Guetat brings over two decades of global experience in operations, supply chain, and manufacturing excellence. Most recently, he served as SVP of Integrated Supply Chain at Kalmar, where he led business across sourcing, manufacturing, logistics and strategy. His leadership has been shaped by 22 years at Volvo, where he held key roles in Sweden, USA, and Poland.

“I’m pleased to welcome Francois to our team. He has consistently driven results through transformational programs, systematic continuous improvement deployment, strong commitment to total quality, safety and sustainability, and great people leadership skills”, says Charles Héaulmé, President and CEO of Suominen.

Suominen’s Chief Operating Officer Darryl Fournier has decided to leave the company to pursue other professional endeavors. He will continue with Suominen until end of January 2026, focusing on strategic projects.

“I want to thank Darryl for his dedication and commitment to Suominen and wish him all the best going forward”, says Charles Héaulmé.

Founded in 1970, Iluna Group has been synonymous with excellence, savoir-faire, creativity, and responsible innovation in the world of lace. A pioneer in interpreting lace as a language of contemporary beauty, Iluna has been accompanying women for decades through the many moments of their lives — from precious lingerie to sophisticated fashion, from sportswear to beachwear — offering solutions that combine research, aesthetics, elegance, and comfort.

A pioneer company in the field of sustainability and a promoter of continuous research for low-impact environmental solutions and maximum respect for the planet, since 2018 Iluna Group has been GRS certified for its sustainable Green Label range. A collection that proposes a new responsible approach towards the environment and people, combining innovation, aesthetics, and quality at 360°. From the polymer to the finished lace, Iluna is able to guarantee full control and total traceability of the entire production chain, measuring the company’s sustainability growth through the Higgs Index. 

Iluna Group presented at MarediModa the natural evolution of this vision with laces that go beyond the traditional concept of beachwear: technical, refined, sustainable, and surprising laces that, like a fluid material, caressing the skin celebrating body freedom and conveying effortless elegance. The collection ranges from stretch laces made with ROICA™ EF premium stretch fiber — featuring recycled content of up to 80% — to customizable GRS-certified Lurex nets with prints and flocking, up to materials made with 99% recycled yarns, and recycled polyamides like Qnova™ and Renycle™ marking a new generation of responsible beachwear.
Among the highlights, Iluna introduces:

• Customizable and luminous GRS-certified Lurex mesh fabrics 
• Exclusive certified printing and flocking finishes
• Sustainable fibers such as organic cotton, FSC-certified spun-dyed viscose, recycled polyamides like Qnova™ and Renycle™, and the premium stretch fiber ROICA™ EF, part of the ROICA Eco-Smart family™.

Materials that embody the new face of beachwear: elegant yet low-impact, merging aesthetics, innovation, and respect for the planet. The result is a sea to wear, made of light, sensual, and high-performing textures that express allure in every gesture and freedom in every wave.