From the Sector

As of July 1, Marcel Perrevort has been appointed Chief Sales Officer (CSO) of the Reifenhäuser Group. He succeeds Ulrich Reifenhäuser, who had been in this position for more than 25 years. With this decision, the family-owned machinery and plant manufacturer is consistently continuing the already initiated generational transition in its management structure.

Perrevort has held various sales and management positions within the Reifenhäuser Group for over ten years - most recently as Managing Director of Reifenhäuser Blown Film. In his new role as CSO, he is primarily responsible for the Group's sales and service strategy and its alignment with the activities of the business units.

Ulrich Reifenhäuser will continue his work in associations and committees within the plastics industry and will remain at the disposal of the Reifenhäuser Group as a representative and consultant with adjusted work hours.

adidas launches its 19-piece FW24 New York Tennis apparel collection – a range of high-performance pieces built to optimize movement and reduce distraction.

The collection, which features blue and white colorways inspired by the hard courts of New York, has been crafted utilizing insights from motion capture technology. The technology, which uses digital image recording to test a moving target, measures the strain on an athlete’s body over time, revealing areas that generate the most heat during play.

These insights informed key design features, such as the strategic material placements of fabric and cut-outs. Following the natural curves of the body, they were purposefully placed in high-movement areas – such as the shoulders and under the arm – to help maximize players’ range of motion. Pieces featuring this technology include the women’s AEROREADY Dress Pro and the women’s HEAT.RDY Match Skirt Pro, which features pleats over the upper leg, allowing for maximum flexibility and adaptability, to help players change direction with ease.

White color blocking is placed in the shoulder and torso areas, which is where the most heat is generated, of the men’s HEAT.RDY FreeLift Polo Shirt Pro and men’s HEAT.RDY Tank Top Pro, to help keep players feeling cool. adidas’ AIRCHILL technology is leveraged to create ventilation zones in high-sweat areas of the body in the men’s AIRCHILL FreeLift T-Shirt Pro and women’s AIRCHILL Match Tank Pro, which uses thermally zoned, raised pattern motifs and mesh layers to maximize airflow.

The head-to-toe collection premiers at the final major tournament of the season and will be worn by athletes including Jessica Pegula, Caroline Wozniacki, Elina Svitolina, Maria Sakkari, Daria Kasatkina, Stefanos Tsitsipas and Felix Auger-Aliassime.

adidas announces the return of the iconic trefoil to the pitch, with the launch of the third jerseys for each of five European clubs (Arsenal, Bayern Munich, Manchester United, Juventus and Real Madrid).

Over the past few decades, the adidas trefoil has come to represent the latest in contemporary street style and, since 2000, has been used exclusively for adidas Originals collections and limited-edition jerseys designed for off-pitch wear. With the 75th anniversary of the brand approaching in 2025, adidas is bringing it back to the pitch, not only with a nod to its status in the history of the sport, but also in recognition of the increasing role fashion plays in the contemporary game.

The on-field version of the jersey is constructed with HEAT.RDY technology, using advanced materials to maximize air flow to keep players feeling cool, while the fan version features AEROREADY technology, which uses sweat-wicking or absorbent materials to keep the body feeling dry.

The Lenzing Group has been awarded platinum status in the EcoVadis CSR rating. The rating comprehensively covers the four most important practices in the area of corporate social responsibility: environment, fair working conditions and human rights, ethics, and sustainable procurement.

For the fourth time in a row, Lenzing has been awarded platinum status by EcoVadis. This puts Lenzing in the top one percent of companies rated by EcoVadis worldwide. Lenzing achieved the greatest progress this year in the categories of sustainable procurement and ethics. Lenzing also outperformed the previous year in the areas of labor and human rights as well as certifications. Since its foundation in 2007, EcoVadis has developed into on of the largest and most trusted providers of sustainability ratings for companies and has created a global network of more than 130,000 rated companies worldwide. The methodological framework evaluates companies' policies, measures and activities, as well as their published reports on the environment, labor and human rights, ethics, and sustainable procurement.

In line with its "Naturally Positive" sustainability strategy, the Lenzing Group has set ambitious targets in each of its core strategic areas to further strengthen its transition from a linear to a circular economy model. Every year, Lenzing provides updates on its sustainability initiatives and the progress made in its annual sustainability report. This level of commitment and transparency was also positively emphasized by EcoVadis in its assessment.

Indorama Ventures Public Company Limited (IVL) reported a slight rise in quarterly performance, supported by a gradual recovery in sales volumes and as management executes the company’s IVL 2.0 strategy to optimize its manufacturing model, reduce costs, and enhance competitiveness.

Indorama Ventures’ reported Adjusted EBITDA  of $370 million in 2Q24, a 1% rise QoQ and a decline of 11% YoY. The company’s sales volumes increased 1% YoY due to subdued economic activity, but also signaling the end of a prolonged period of destocking that began in late 2022. Operating rates for the group increased from 74% to 76% in 1H24, although still at lower-than-average levels, signifying the weak global economic conditions. On a proforma basis, considering asset optimization actions, operating rates increase to 81%.

The Indovinya segment posted a robust performance on improved margins and rebounding demand for its high value-add downstream products. The packaging business, newly renamed ‘Indovida’, also performed well due to its leading footprint in emerging markets.

Looking ahead, Indorama Ventures is encouraged by the gradual improvement in the operating environment as customer inventory levels normalize, which is expected to spur further growth in volumes across all segments in 2H24. The company also expects to benefit in 2H24 from its shale gas advantage in the U.S, reflected in ethylene crack margins, positively impacting its integrated MEG business. Continued higher import prices in Western markets will enhance the company’s competitiveness as a leading local operator.

While the polyester industry manages the downcycle, Indorama Ventures’ experienced management team is working hard to deleverage and optimize the business under the company’s IVL 2.0 strategy to emerge stronger and drive enhanced earnings quality in an era of higher interest rates and a substantially changed industry landscape. As flagged at its Capital Markets Day on 6 March this year and reaffirmed in its Mid year strategic update on 24 July, the company is making substantial progress with IVL 2.0. In 2Q24, it recorded an impairment and expense provision of $666 million ($543 million is non cash) under its asset optimization program to improve manufacturing efficiency and reduce fixed costs. The cost benefits will start from 3Q24 and amount to about $170 million in savings in 2025. The company expects that the remaining asset optimizations will not have material impairments.

Management is continuing its intense focus on managing costs and extracting efficiencies, including its Olympus 2.0 program. These efforts achieved $47 million in savings in 1H24 ($29 million in 2Q24). The company is continually optimizing its capital expenditure, with capex supporting investments in sustainability—such as recycling in India—and automation and digital technology, as well as ongoing projects.

A key part of Indorama Ventures’ transformation journey is the implementation of new digital and AI tools to drive operational excellence in key areas, including manufacturing, commercial, procurement, sales, supply chain, and finance excellence. A significant portion of operations now have the new SAP S/4HANA ERP platform as a digital core, while rollouts of other world-leading solutions are ongoing in a phased approach through to 2026.

Segment Performances
The Combined PET (CPET) with Intermediate Chemicals segment posted an Adjusted EBITDA of $234 million in 2Q24, a 6% decline QoQ and a 25% decrease YoY, due to a one-time upside impact from a campaign run of NDC campaign in 1Q24 and as reduced industry spreads weighed on the Integrated PET business. A cracker outage at Lake Charles in the U.S also resulted in a $17-18 million impact to EBITDA. The cracker is gradually up and running in 3Q24.

The Indovinya segment recorded a strong Adjusted EBITDA of $98 million, a 41% gain QoQ and 85% YoY on increased volumes as destocking eased, supported by demand for downstream chemical surfactants amid the U.S crops season.

The Fibers segment recorded Adjusted EBITDA of $39 million, a 2% rise QoQ and a 19% gain YoY amid improved sales strategies and a robust focus on cost management, even as volumes declined, particularly in the Lifestyle business.

Flat knitting solutions provider SHIMA SEIKI MFG., LTD. of Wakayama, Japan will exhibit at the Brazilian Textile Industry Fair (FEBRATEX 2024) between 20th - 23rd August 2024. On display will be a roundup of SHIMA SEIKI computerized flat knitting technology, represented by the latest WHOLEGARMENT® knitting machines, conventional shaped knitting machines, glove knitting machine and design software.

The SWG-XR® WHOLEGARMENT® knitting machine features the company's original SlideNeedle™ on four needle beds supporting a wide range of high-quality WHOLEGARMENT® knitting in all needles. MACH2®VS and N.SVR®183 are conventional V-bed machines capable of WHOLEGARMENT® knitting in every other needle. N.SIR®123SP features a special loop presser bed and is capable of producing woven-like hybrid fabrics as well as technical textiles. The SVR® and N.SSR® workhorse machines set the industry benchmark for shaping machines, with SVR®202 featuring tandem knitting capability for flexible operation. N.SSR®072 is a new machine that specializes in knitting of collars, shown for the first time in Brazil. The SFG® fully automatic glove knitting machine rounds out the comprehensive lineup.

APEXFiz® subscription-based design software supports the creative side of fashion from planning and design to colorway evaluation, realistic fabric simulation and 3D virtual sampling. Virtual sampling is a digitized version of sample making, accurate enough to be used effectively as prototypes. By replacing physical samples, virtual samples reduce time, cost and material that otherwise go to waste. APEXFiz® thereby helps to realize sustainability and digitally transform the fashion supply chain.

From September 11 to 14, 2024, the Trützschler Group will present its latest innovations at CAITME in Tashkent, Uzbekistan - featuring machines and technologies in spinning, card clothing and nonwovens.

Trützschler Spinning
A highlight will be Trützschler’s next generation card, the TC 30i. In recent customer trials, the TC 30i has achieved up to 40 % higher productivity while reducing energy consumption by up to -18 %. In addition, the team will share insights about the Integrated Draw Frame IDF 3, which enables shortened processes that save resources, energy and production space. Visitors will also have the opportunity to discover the TCO 21XL, a 12-head comber. This comber makes it possible to increase productivity by 50 %, while requiring 25 % less space.

Visitors will also get the chance to learn about Trützschler’s new brand for textile recycling, TRUECYCLED. The company enables its customers to produce high quality tapes while turning waste into value.

Trützschler Card Clothing
Trützschler Card Clothing (TCC) will present a range of technologies from its card clothing portfolio, covering the full spectrum of applications in the spinning and nonwovens markets. A key feature will be the Flexible Bend Control (FBC), which ensures flat setting for all card models within a few seconds and guarantees optimum quality.

Trützschler Nonwovens
Trützschler Nonwovens will focus on solutions for the production of cotton nonwovens for wipes, pads and medical products from virgin fibers, comber noils or blends. In addition, the team will provide insights into T-SUPREMA needle-punching lines and show its solutions for the specific requirements of high-potential markets such as geotextiles, filter media, automotive textiles or other durable products.

• Graphite Solutions with slight sales growth and positive margin development
• Process Technology again improves on good prior-year figures
• Weak demand in Carbon Fibers continues to impact Group sales and profitability
• Despite slight decline in sales (-4.0%), EBITDA margin improves from 15.7% to 16.1% compared to the first half of the previous year
• Outlook for 2024 confirmed

Q2 2024 confirms SGL Carbon's business development in an increasingly volatile market environment. After €272.6 million in Q1 and €265.4 million in Q2, SGL Carbon generated consolidated sales of €538.0 million in the first half of 2024 (H1 2023: €560.5 million). This corresponds to a slight decrease of 4.0% compared to the prior year period; adjusted for currency effects, Group sales decreased by only 2.2%. By contrast, adjusted EBITDA, an important key figure for the Group, remained almost constant year-on-year at €86.5 million (H1 2023: €88.0 million). The adjusted EBITDA margin improved from 15.7% to 16.1%, in particular due to the continued positive sales trend in the Semiconductor market segment and the associated change in the product mix. On the other hand, the persistently weak demand in the Carbon Fibers business unit continued to weigh on the Group's sales and earnings
performance.

Outlook
The current volatile development in some of their sales markets, which in some cases is below expectations, affects the expected sales and earnings performance of the business units. Due to the company's diversified business model, changes in demand for certain products can be largely offset by higher-than-expected sales in other businesses. SGL Carbon therefore continued to expect to achieve the forecast which was issued in March for the SGL Carbon Group at the lower end of the stated range. For fiscal year 2024, SGL Carbon expects Group sales to be at the previous year's level (2023: €1,089.1 million) and adjusted EBITDA at Group level to be between €160 million and €170 million.

Thomas Dippold, CFO of SGL Carbon, explains: “One of our most important market segments is the semiconductor industry and in particular the demand for graphite components for the production of silicon carbide-based semiconductors. These are used primarily in electric vehicles due to their higher efficiency and performance. In the first half of 2024, global demand for electric vehicles slowed compared to the growth in previous quarters, and a return to the previous year's growth rates is not expected in the coming months. In addition, there are high inventory levels in the semiconductor value chain, which are also impacting demand for our products. Even if we assume that the market for high-performance semiconductors for electric vehicles will continue to grow significantly in the future, we expect demand for our specialty graphite components for the production of SiC-based semiconductors to slow down in the second half of 2024. For Graphite Solutions, however, we continue to expect sales and adjusted EBITDA to be above the previous year."

On the other hand, other market segments are developing better than expected and can thus compensate for fluctuations in demand within the SGL Carbon Group. Taking into account the business unit developments in the first half of 2024 and the expected trends for their key sales markets, the Company expects to meet its forecast for sales and adjusted EBITDA in fiscal year 2024 at the lower end of the announced range.

The second conference on flame retardancy will now take place in Berlin from 20-21 November 2024, organized by the AVK - Industrievereinigung Verstärkte Kunststoffe e. V. in cooperation with the FGK - Forschungsgesellschaft Kunststoffe e.V.

In addition to the transport sector, the requirements in the construction/infrastructure sector will also be considered. Components made from fiber-reinforced plastics/composites that are manufactured for these sectors often have to have specific flame-retardant properties. Over the course of one and a half days, 14 presentations will provide information on new developments, requirements and innovations from the fields of standardization, material development, construction/infrastructure, public transport, automotive and research & science.

The lecture titles range from requirements and challenges for low-voltage products to the possibilities offered by new types of ceramifying fillers and flame retardants for e-mobility applications.

The event will be held in English.

bluesign and SCTI donate the Sustainable Chemistry Index (SCI) Methodology to ZDHC aiming to advance sustainable chemistry within the textile industry. This collaboration aims to revolutionize chemical management in the textile, leather and fashion industries, while addressing environmental impact in a holistic manner.

For decades, the use of hazardous chemicals in clothing has been a major challenge. Despite industry efforts with numerous overlapping standards and voluntary schemes - the textile, leather and fashion industries struggle with varying regulations, inconsistent data and a lack of common action. Inconsistent regulations, limited transparency, and little coordinated action hinder progress, while consumers do not receive information about the overall environmental impact of these industries.

Leading organizations in the textile sector are elevating the conversation to tackle these issues head-on with converging assessment tools.

SCTI, a group of innovative and pioneering chemical manufacturers, aims to bring positive change to the textile industry and make sustainable chemistry the norm. bluesign has extensive experience in ensuring safe and responsible chemical management, environmental and worker safety as well as resource efficiency in the production of textiles. The ZDHC Foundation, driven by major fashion brands, is on a mission to detox the fashion industry by providing tools and guidelines for sustainable chemical management.
The Start of the Sustainable Chemistry Index (SCI):
In 2022, SCTI and bluesign announced the development of the first comprehensive Sustainable Chemistry Index (SCI) for the textile industry. The pioneering work leverages best available technologies, while transcending existing chemical assessments, and introduces a one-stop-shopping tool for a broader assessment of environmental impact. Such an approach was missing. Now, the SCI introduces a standard common language for convergence and alignment throughout global textile.

The SCI brings new parameters to assess how chemical products improve resource utilisation in the processes they are used along the life cycle of a garment. Key building blocks include supply chain transparency, responsible sourcing, feedstock reducing fossil dependency, product carbon footprint, resource consumption, efficiency in use during textile production, end use impact and end-of-life of consumer applications. This transparent framework makes it easier for the industry to evaluate the sustainability impact of chemicals present in a garment and promote circularity.

A Collaborative Donation to Advance the Industry:
To advance and foster industry-wide collaboration, SCTI and bluesign are donating, the SCI to ZDHC as the cornerstone of its Chemicals to Zero (CTZ-A) program. CTZ-A represents the highest level of sustainable chemistry within ZDHC. In 2024, the SCI content will undergo ZDHC's stakeholder engagement and consultation processes, aiming to enhance the Roadmap to Zero Program by addressing sustainability and circularity. ZDHC will make the SCI content freely available to the public, enabling widespread adoption and impact.

The ZDHC program is well-positioned to complement the expertise of bluesign and SCTI and to scale its impact within a multistakeholder structure. This collaboration empowers manufacturers and brands to make informed, responsible choices in terms of chemicals and processes, committing to sustainable chemistry and benefiting society.