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(c) POLARYSE
18.11.2022

Grand Largue Composites and Sicomin enable flax-fibre-built Racing Yacht

Fibres, fabrics, epoxy resins and adhesives from Sicomin have been used by Grand Largue Composites (GLC) to construct the first Class40 racing yacht to feature a significant quantity of flax-fibre reinforcements.
The yacht, called Crosscall, won the Class40 World Championships in June 2022 and is a prototype of the new Lift V2 design by Marc Lombard, one of the leading naval architects in this field.

Class40 is one of the most competitive fleets in yacht racing. The hulls of Class40 yachts must be light in weight, strong and stiff, and durable in the most extreme of conditions. Furthermore, to keep costs down, they cannot be reinforced with carbon fibres. The quality and reliability of the resins used for the infusion and lamination of the hulls are therefore of paramount importance.

Fibres, fabrics, epoxy resins and adhesives from Sicomin have been used by Grand Largue Composites (GLC) to construct the first Class40 racing yacht to feature a significant quantity of flax-fibre reinforcements.
The yacht, called Crosscall, won the Class40 World Championships in June 2022 and is a prototype of the new Lift V2 design by Marc Lombard, one of the leading naval architects in this field.

Class40 is one of the most competitive fleets in yacht racing. The hulls of Class40 yachts must be light in weight, strong and stiff, and durable in the most extreme of conditions. Furthermore, to keep costs down, they cannot be reinforced with carbon fibres. The quality and reliability of the resins used for the infusion and lamination of the hulls are therefore of paramount importance.

Crosscall's cockpit was designed to be effectively non-structural, with the mainsheet, which can generate huge shock loads, supported separately. This would allow the cockpit to be made from a hybrid biaxial fabric comprising 50% flax fibres. Other parts of the boat that incorporate flax fibre include the tunnel, the engine cover, the ballast tanks and the cap. The rest of the boat is reinforced with 100% glass-fibre fabrics.

To help it realise this ambitious design, GLC, an infusion specialist, turned to its long-time material supplier, Sicomin. The hull was moulded and infused in one piece and the deck – including the hybrid flax-fibre cockpit – was also infused as a single part. The internal structure was then laminated into the hull by hand before the hull and deck were finally bonded together.

The infusion resin selected was Sicomin’s SR 1710, a high-modulus structural epoxy. Designed specifically for use in infusion and injection processes, it has exceptionally low viscosity and its low-reactivity hardener makes it suitable for the production of large parts. Composites components made from SR 1710 possess high interlaminar shear-strength and the resin retains its mechanical properties in wet environments.

Sicomin’s low-toxicity SR 8200 was used to laminate the internal structures onto the skin of the hull. Ideal for hand laminating, this system includes a choice of hardeners with a wide range of reactivities, which makes it equally suitable for making large or small parts. The hull and deck were joined together with Sicomin’s Isobond SR 7100, which demonstrates high fatigue strength and is very resistant to microcracking.

An epoxy bonding primer – called Undercoat EP 215 HB+ and supplied by Sicomin’s sister company, Map Yachting – was applied to the moulds first to make demoulding easier. It also serves as an undercoat in the polyurethane exterior paint system that is used instead of gelcoat to protect the epoxy hull from UV damage.

Since the launch of Crosscall, GLC has started building a second Lift V2 Class40 and a third one is now planned, both for which Sicomin will supply the materials.

Source:

Sicomin / 100% Marketing

(c) Officina39
Juan Manuel Gomez, Officina39 Creative Leader
18.11.2022

Officina39 with SS24 collection at Denimsandjeans in Tokyo

The philosophy guiding Officina39's innovation and development ranges fluidly between exploration of color, denim heritage and artistic expression, but has sustainability and the search for environmentally friendly chemical solutions for the fashion industry as its cornerstones. This is the core vision that accompanied the Italian company, when presenting its latest technologies and collaborations at Denimsandjeans in Tokyo from November 1-2.

Denim & Art
Juan Manuel Gomez, Officina39 Creative Leader, represents the company’s multidisciplinary approach and combines artistic expression with a thorough technical experience. His explorations were drawn on the Denim Art Wall at the fair. Furthermore, in the interactive seminar “Art & Denim As A Process Of Repetition” he explained that there is a constant act of repetition as automatic drawing or pictorial act in the processes of the textile industry.

The SS24 collection
The Multicolor Denim Dreaming collection is a combination of several Officina39’s sustainable key technologies:

The philosophy guiding Officina39's innovation and development ranges fluidly between exploration of color, denim heritage and artistic expression, but has sustainability and the search for environmentally friendly chemical solutions for the fashion industry as its cornerstones. This is the core vision that accompanied the Italian company, when presenting its latest technologies and collaborations at Denimsandjeans in Tokyo from November 1-2.

Denim & Art
Juan Manuel Gomez, Officina39 Creative Leader, represents the company’s multidisciplinary approach and combines artistic expression with a thorough technical experience. His explorations were drawn on the Denim Art Wall at the fair. Furthermore, in the interactive seminar “Art & Denim As A Process Of Repetition” he explained that there is a constant act of repetition as automatic drawing or pictorial act in the processes of the textile industry.

The SS24 collection
The Multicolor Denim Dreaming collection is a combination of several Officina39’s sustainable key technologies:

  • Nebudye D: a wide range of fresh colors to obtain a unique dyeing effect in nebulization/fog system machinery and can be discharged in a creative way with Oz-One Powder, an advanced product to give garments a bleached yet eco-friendly treatment, and Remover IND/J-N, Officina39’s solution to replace the use of Potassium Permanganate (PP) on denim and obtain a worn and distressed vintage look.
  • Novantic series: a combination of selected dyestuffs with a special mordanting agent suitable to obtain surface dyeing to provide vintage or old look effects.
  • Recycrom™: a patented dyestuffs range obtained through a cutting-edge upcycling process that involves textile fibers from used clothing and manufacturing waste for dyeing and printing applications. Its sustainable and revolutionary powders assure a whole universe of denim effects: from classic authentic vintage to acid wash look (Eco Marble), from printed effect (Indigo Replica) to worn and distressed vintage look (Recycrom™ Dirty).
  • Just One Step Process: an innovation that saves time, energy, space and of course water, by combining several phases of the Aqualess Mission at the same time: a raw garment enters the machine and a garment with a basic vintage effect comes out ready to be dried, already treated, bleached and softened.
  • Remover Activator: a technology that in combination with PP replacement products creates in one step general bleaching, localized corrosion and highlights effects on jeans.
Source:

Officina39 / Menabò Group srl

18.11.2022

Monforts at Igatex 2022

Monforts will be presenting its finishing technologies at the forthcoming Igatex textile machinery exhibition, which takes place from December 1-4 at the Lahore Expo Centre in Pakistan.

The importance of the textile industry to Pakistan’s economy cannot be overstated – it accounts for 60% of the country’s overall exports and some of its industry’s players are very major employers. In the year to June 2022, Pakistan’s textile exports climbed by 25% to a record value of $19.3 billion according to the country’s Bureau of Statistics, as security of deliveries – especially to Europe and the USA – worked in the country’s favour, in the light of the Covid-19 pandemic and subsequent supply chain issues. It has a key role to play in quickly getting the country back on its feet after the devastation.

Monforts will be presenting its finishing technologies at the forthcoming Igatex textile machinery exhibition, which takes place from December 1-4 at the Lahore Expo Centre in Pakistan.

The importance of the textile industry to Pakistan’s economy cannot be overstated – it accounts for 60% of the country’s overall exports and some of its industry’s players are very major employers. In the year to June 2022, Pakistan’s textile exports climbed by 25% to a record value of $19.3 billion according to the country’s Bureau of Statistics, as security of deliveries – especially to Europe and the USA – worked in the country’s favour, in the light of the Covid-19 pandemic and subsequent supply chain issues. It has a key role to play in quickly getting the country back on its feet after the devastation.

Monforts customers in the regions around the country’s three biggest cities of Karachi, Lahore and Faisalbad include all of the main players in the fields of home textiles and denim production, including Afroze, , Al Karam Artistic Milliners, Azgard-9, Crestex, , Gul Ahmed, Interloop, Liberty Mills, Lucky Textile Mills, Mustaqim, Naveena (NDL), Rajby Industries, Sapphire Finishing, Soorty, Style Textile and US Denim.

These companies rely on established Monforts technologies including Montex stentering equipment, Monfortex sanforizing units and Thermex dyeing ranges. The company’s Matex Eco Applicator minimum application system has also proved a big hit in recent years.

Monforts has also achieved considerable success in Pakistan with its Econtrol®* dyeing system  – an effective and established dyeing process. More than 40 Thermex continuous dyeing ranges have been installed in Pakistan in recent years and operator training on the Econtrol®* process by sophisticated technologists is an additional service.

The Econtrol® pad-dry process has a number of immediate benefits. Compared to the common pad-dry-pad-steam process, no salt is used and no steamer is required for a separate fixation step. Compared to the pad-dry-thermofix process, no urea is used and no smoke or deposits are generated, and unlike with the cold pad batch process, direct feedback of the dyeing results ensures no batching time is necessary and guarantees good reproducibility from the lab to bulk production.

An immediate wash off is also unnecessary, allowing for flexible production planning. The process is suitable for pale to dark shades with very good fastness properties. Also waste water treatment is improved by this technology.

*Econtrol is a registered mark of Dystar Colours Distribution GmbH.

Source:

A. Monforts Textilmaschinen GmbH & Co. KG / AWOL Media

18.11.2022

BOGNER aligns management and corporate structure

  • Successful repositioning: BOGNER achieves its best financial year since 2015 following the completion of the two-year performance program.
  • Continuity in management: Gerrit Schneider takes over as sole CEO. Heinz Hackl, present Co-CEO, leaves the company by mutual agreement. With former CEO Andreas Baumgaertner and Andreas Gall two experienced advisors move closer to the management.
  • Streamlined governance and corporate structure: Arndt Geiwitz hands the company back into the hands of the family after the successful completion of the performance program and takes over the chairmanship of the newly created advisory board. BOGNER operates with GmbH as legal form in the future.

With the financial results in 2021/22, BOGNER has achieved the most successful financial year since 2015. A key contribution to this was provided by the performance program developed with the management consultancy EY Parthenon in July 2020. Since then, it was implemented as planned and successfully promoted profitability and sustainable global growth.

  • Successful repositioning: BOGNER achieves its best financial year since 2015 following the completion of the two-year performance program.
  • Continuity in management: Gerrit Schneider takes over as sole CEO. Heinz Hackl, present Co-CEO, leaves the company by mutual agreement. With former CEO Andreas Baumgaertner and Andreas Gall two experienced advisors move closer to the management.
  • Streamlined governance and corporate structure: Arndt Geiwitz hands the company back into the hands of the family after the successful completion of the performance program and takes over the chairmanship of the newly created advisory board. BOGNER operates with GmbH as legal form in the future.

With the financial results in 2021/22, BOGNER has achieved the most successful financial year since 2015. A key contribution to this was provided by the performance program developed with the management consultancy EY Parthenon in July 2020. Since then, it was implemented as planned and successfully promoted profitability and sustainable global growth. In order to create the ideal framework conditions for further success, BOGNER is now simplifying its management, governance and corporate structures.

Gerrit Schneider takes over as sole CEO
Gerrit Schneider, Co-CEO of BOGNER since April 2020 and responsible for Finance, Legal, IT, Operations and HR, will take over the sole CEO role of BOGNER with immediate effect. Heinz Hackl, present Co-CEO of BOGNER and currently responsible for Sales, Design, Marketing and Licensing, will leave BOGNER by mutual agreement.

The former BOGNER CEO Andreas Baumgaertner (2017-2020) will move closer to the management for all product- and design-specific topics and will intensify his advisory role. He has already advised the company in the background in recent years and will now accompany and help to shape the future direction of the brand even more closely. As for the external media presence, BOGNER secures further know-how and experience with Andreas Gall, the former founding CEO and Chief Innovation Officer (CINO) of Red Bull Media House.

Streamlined structures with end of trusteeship and new active advisory board
In addition to the management, BOGNER is also refining its governance structures: With the successful completion of the performance programm, trustee Arndt Geiwitz has achieved the goal he has set together with management and family to bring BOGNER in a strong position. Now he returns the company back to the family. Arndt Geiwitz will remain closely associated with BOGNER and will accompany the company in its further development as Chairman of the newly created advisory board.

Furthermore, BOGNER changes the legal form of the company to a GmbH (limited liability company) and merges individual group companies as part of this step. This simplifies the corporate structures and reduces complexity. As part of this adjustment, BOGNER is setting up an advisory board with supervisory function. The advisory board, staffed with experienced personalities, will advise the management comprehensively on the strategic direction, function as a sparring partner and serve as a supervisory body. In addition to Arndt Geiwitz as Chairman, Christian Laus, a long-standing advisor of the Bogner family and Managing Director of BOGNER Film GmbH, will become a member of the advisory board. Furthermore, Dr. Daniel Heine, Managing Director of Patrimonium Asset Management AG, will join the advisory board. A private debt fund of Patrimonium Asset Management AG as strategic financing partner and BOGNER have signed financial agreements to replace the loan agreement concluded with various banks as part of the performance program.

Source:

Willy BOGNER GmbH

Graphic NatureWorks
16.11.2022

CJ Biomaterials and NatureWorks: Joint commercialization of novel biopolymer solutions

  • Future plans for the nonwovens market

The two companies will develop sustainable materials solutions based on CJ Biomaterials’ PHACT™ PHA and NatureWorks’ Ingeo™ PLA technologies NTR and CJ Biomaterials

CJ Biomaterials, Inc., a division of South Korea-based CJ CheilJedang and leading producer of polyhydroxyalkanoate (PHA), and NatureWorks, an advanced materials company that is the world’s leading producer of polylactic acid (PLA), have signed a Master Collaboration Agreement (MCA) that calls for the two organizations to collaborate on the development of sustainable materials solutions based on CJ Biomaterials’ PHACT™ Biodegradable Polymers and NatureWorks’ Ingeo™ biopolymers. The companies will develop high-performance biopolymer solutions that will replace fossil-fuel based plastics in applications ranging from compostable food packaging and food serviceware to personal care, films, and other end products.

  • Future plans for the nonwovens market

The two companies will develop sustainable materials solutions based on CJ Biomaterials’ PHACT™ PHA and NatureWorks’ Ingeo™ PLA technologies NTR and CJ Biomaterials

CJ Biomaterials, Inc., a division of South Korea-based CJ CheilJedang and leading producer of polyhydroxyalkanoate (PHA), and NatureWorks, an advanced materials company that is the world’s leading producer of polylactic acid (PLA), have signed a Master Collaboration Agreement (MCA) that calls for the two organizations to collaborate on the development of sustainable materials solutions based on CJ Biomaterials’ PHACT™ Biodegradable Polymers and NatureWorks’ Ingeo™ biopolymers. The companies will develop high-performance biopolymer solutions that will replace fossil-fuel based plastics in applications ranging from compostable food packaging and food serviceware to personal care, films, and other end products.

The initial focus of this joint agreement will be to develop biobased solutions that create new performance attributes for compostable rigid and flexible food packaging and food serviceware. The new solutions developed will also aim to speed up biodegradation to introduce more “after-use” options consistent with a circular economy model. The focus on compostable food packaging and serviceware will create more solutions for keeping methane-generating food scraps out of landfills, which are the third largest source of methane emissions globally, according to World Bank. Using compostable food packaging and serviceware, we can divert more food scraps to composting where they become part of a nutrient-rich, soil amendment that improves soil health through increased biodiversity and sequestered carbon content.

CJ Biomaterials and NatureWorks plan to expand their relationship beyond cooperative product development for packaging to create new applications in the films and nonwoven markets.  For these additional applications, the two companies will enter into strategic supply agreements to support development efforts.

More information:
NatureWorks Biopolymere packaging
Source:

NatureWorks

16.11.2022

CHT: From plastic waste to textile finishing: ARRISTAN rAIR

  • made out of recycled PET flakes and recyclable again
  • suited for finishing recycled yarns and fabrics
  • moisture management in sports and active wear

For the sustainable use of resources, the CHT Group has developed the product ARRISTAN rAIR, according to the principles of the circular economy. Here, plastic waste is converted into a valuable textile finishing product to achieve, for example, optimal moisture management in sports and active wear. Other areas of application include socks and tights in the clothing sector, filtration media and nonwovens in the technical textiles sector, and pillows and curtains in home textiles.

Since ARRISTAN rAIR is made out of recycled PET flakes, it is suited for finishing recycled yarns and fabrics which are subsequently recyclable again.

The hydrophilizing agent ARRISTAN rAIR is characterized by its fast-drying properties in combination with excellent soil release and thermoregulation. It therefore offers, especially in the field of functional textiles, optimal functionalities for high-quality and durable sportswear.

  • made out of recycled PET flakes and recyclable again
  • suited for finishing recycled yarns and fabrics
  • moisture management in sports and active wear

For the sustainable use of resources, the CHT Group has developed the product ARRISTAN rAIR, according to the principles of the circular economy. Here, plastic waste is converted into a valuable textile finishing product to achieve, for example, optimal moisture management in sports and active wear. Other areas of application include socks and tights in the clothing sector, filtration media and nonwovens in the technical textiles sector, and pillows and curtains in home textiles.

Since ARRISTAN rAIR is made out of recycled PET flakes, it is suited for finishing recycled yarns and fabrics which are subsequently recyclable again.

The hydrophilizing agent ARRISTAN rAIR is characterized by its fast-drying properties in combination with excellent soil release and thermoregulation. It therefore offers, especially in the field of functional textiles, optimal functionalities for high-quality and durable sportswear.

Source:

CHT Germany GmbH

16.11.2022

AkzoNobel launches sustainable biocide-free range for boaters

Recreational boaters now have an easy way to be more sustainable following the introduction of a new biocide-free (B-Free) fouling control range from AkzoNobel’s Yacht Coatings business.

The first product to be launched from the new B-Free range is B-Free Explore. It features a specially-developed, unique silicone polymer technology which produces an exceptionally smooth and slick hull – helping to reduce drag.

Fouling is controlled by preventing microorganisms such as barnacles, slime and algae from forming strong bonds with the hull of the boat. Any that do adhere can be simply wiped away by hand or water jet.

“We’ve developed high-performance technology which allows boaters to maintain a clean, smooth hull,” explains Simon Parker, Director of AkzoNobel’s Marine and Protective Coatings business. “It’s based on proven technology and exemplifies the restless spirit of innovation which has been the cornerstone of our International brand for more than 140 years.”

Recreational boaters now have an easy way to be more sustainable following the introduction of a new biocide-free (B-Free) fouling control range from AkzoNobel’s Yacht Coatings business.

The first product to be launched from the new B-Free range is B-Free Explore. It features a specially-developed, unique silicone polymer technology which produces an exceptionally smooth and slick hull – helping to reduce drag.

Fouling is controlled by preventing microorganisms such as barnacles, slime and algae from forming strong bonds with the hull of the boat. Any that do adhere can be simply wiped away by hand or water jet.

“We’ve developed high-performance technology which allows boaters to maintain a clean, smooth hull,” explains Simon Parker, Director of AkzoNobel’s Marine and Protective Coatings business. “It’s based on proven technology and exemplifies the restless spirit of innovation which has been the cornerstone of our International brand for more than 140 years.”

Adds Jemma Lampkin, Global Commercial Director for AkzoNobel’s Yacht Coatings business: “Boaters are becoming more aware of the impact they can have on the environment, but they still require technologies that deliver high-performance fouling control. B-Free Explore provides a stand-out solution for both of these challenges.”

Specially crafted for the leisure boat market, B-Free Explore is the culmination of a five-year development program. It can be applied to new hulls or directly to existing antifouling, without the need for the removal of the previous antifouling coating. This makes it simple for boaters to upgrade from their traditional coatings to the new technology.

The new product is also better for the marine ecosystem. Being biocide-free, it provides a smooth surface for improved hull efficiencies, which can lead to a reduced carbon footprint.

Currently being introduced in Northern Europe, B-Free Explore will be rolled out across Germany, the Netherlands, Norway and Sweden in January 2023.

More information:
AkzoNobel Coatings Polymere
Source:

AkzoNobel

(c) Hologenix, LLC
15.11.2022

Medline and Hologenix launch new orthopedic infrared products

Medline, a medical product distributor and manufacturer, together with Hologenix® launched a new line of CURAD® Performance Series® orthopedic products powered by CELLIANT® infrared technology.

CELLIANT, the flagship innovation of Hologenix, is a proprietary blend of natural minerals that allows textiles to convert body heat into infrared energy, returning it to the body and temporarily increasing local blood flow and cellular oxygenation. This has been clinically demonstrated to support recovery from physical activity and fatigue, increase endurance and stamina, and boost overall performance in healthy individuals, among other benefits.  

Trusted by athletes, CURAD is the Official Medical Supplier of the IRONMAN® U.S. Series. The new orthopedic products powered by CELLIANT infrared technology are the latest additions to the CURAD Performance Series collection and including different infrared supports designed for the ankle, knee, back, shoulder, as well as multipurpose use.

Medline, a medical product distributor and manufacturer, together with Hologenix® launched a new line of CURAD® Performance Series® orthopedic products powered by CELLIANT® infrared technology.

CELLIANT, the flagship innovation of Hologenix, is a proprietary blend of natural minerals that allows textiles to convert body heat into infrared energy, returning it to the body and temporarily increasing local blood flow and cellular oxygenation. This has been clinically demonstrated to support recovery from physical activity and fatigue, increase endurance and stamina, and boost overall performance in healthy individuals, among other benefits.  

Trusted by athletes, CURAD is the Official Medical Supplier of the IRONMAN® U.S. Series. The new orthopedic products powered by CELLIANT infrared technology are the latest additions to the CURAD Performance Series collection and including different infrared supports designed for the ankle, knee, back, shoulder, as well as multipurpose use.

“This new CURAD Performance Series offering represents a major expansion of CELLIANT infrared (IR) bio-responsive textiles into the sports medicine field,” said Seth Casden, Hologenix Co-Founder and CEO. “We are honored to partner with Medline and look forward to future introductions.”

In addition to the inclusion of CELLIANT infrared technology, Medline has engineered the elastic supports to provide targeted compression for enhanced local circulation that helps reduce swelling, with a contoured fit that won’t slip or shift during normal activities with silicone grips that keep the product in place.

The removable hot/cold therapy supports provide adjustable compression and a gel compress that can be cooled or heated to further reduce swelling and discomfort.

Source:

Hologenix, LLC /  Sarah Fletcher Communication

(c) Robin Inizan – Lucas Pavy Production
Tearing line by ANDRITZ in operation at the Renaissance Textile plant
11.11.2022

Renaissance Textile starts up the first textile recycling line by ANDRITZ in France

Renaissance Textile in Laval, France has successfully started up a complete textile recycling line, delivered, installed, and commissioned by ANDRITZ Laroche, part of the international technology group ANDRITZ.

The ANDRITZ textile recycling equipment enabled Renaissance Textile to become the first French recycling platform dedicated to industrial end-of-life textiles. The project aims to produce new fibers from the collected post-consumer apparel, which will be used to weave new recycled fabrics in the end.

The new 12,000 m² plant is equipped with a complete tearing line whose design is the result of close collaboration between R&D specialists from ANDRITZ Laroche and Renaissance Textile, as well as customized trials carried out jointly by the two parties at the ANDRITZ technical center in Cours, France.

Renaissance Textile in Laval, France has successfully started up a complete textile recycling line, delivered, installed, and commissioned by ANDRITZ Laroche, part of the international technology group ANDRITZ.

The ANDRITZ textile recycling equipment enabled Renaissance Textile to become the first French recycling platform dedicated to industrial end-of-life textiles. The project aims to produce new fibers from the collected post-consumer apparel, which will be used to weave new recycled fabrics in the end.

The new 12,000 m² plant is equipped with a complete tearing line whose design is the result of close collaboration between R&D specialists from ANDRITZ Laroche and Renaissance Textile, as well as customized trials carried out jointly by the two parties at the ANDRITZ technical center in Cours, France.

The new clothing produced based on this type of circular economy model thus reflects the social and sustainability commitments of Renaissance Textile in terms of decarbonizing the textile industry, the fight against global warming, autonomy in raw material sourcing, and promotion of local staffing, particularly for people who have been unemployed for a long time or are seeking to enter the labor market for the first time. By 2025, for example, Renaissance Textile plans to create no less than 110 direct jobs.

Photo Phoenox Textiles
10.11.2022

Sellers Textiles Engineers: New Shearing line for Phoenox

As part of an ongoing investment programme ensuring it remains at the forefront of advanced technology for carpet production, West Yorkshire, UK-headquartered Phoenox Textiles has recently installed a new two-metre-wide shearing line supplied by BTMA member Sellers Textiles Engineers.

Phoenox, which has been family owned since its foundation in 1954, develops original creative flooring design concepts for retail brands. Its products are sold through high street outlets, department stores and volume retailers across Europe and North America, in addition to substantial online and catalogue-driven business. All told, the company’s 24-hour parcel service dispatches some 3.2 million orders every year.

Operating from two manufacturing sites, Phoenox manufactures an annual 1.7 million metres of flooring in the UK. Over a combined area of 1,700,000 square metres, the two plants are equipped for tufting, backcoating, cloth printing and finishing along with automated cutting, sewing and packing.

As part of an ongoing investment programme ensuring it remains at the forefront of advanced technology for carpet production, West Yorkshire, UK-headquartered Phoenox Textiles has recently installed a new two-metre-wide shearing line supplied by BTMA member Sellers Textiles Engineers.

Phoenox, which has been family owned since its foundation in 1954, develops original creative flooring design concepts for retail brands. Its products are sold through high street outlets, department stores and volume retailers across Europe and North America, in addition to substantial online and catalogue-driven business. All told, the company’s 24-hour parcel service dispatches some 3.2 million orders every year.

Operating from two manufacturing sites, Phoenox manufactures an annual 1.7 million metres of flooring in the UK. Over a combined area of 1,700,000 square metres, the two plants are equipped for tufting, backcoating, cloth printing and finishing along with automated cutting, sewing and packing.

In addition to the Sellers shearing line, other recent investments for the UK operations have included three new advanced tufting machines and a high-speed Sellers backcoating line equipped to handle widths of up to two metres and coat at six metres per minute. Washable and dyeable foams and eco-friendly applications in different weights are applied for many product areas.

The company’s state-of-the-art Chromo jet printing process line is meanwhile the only one of its kind in the UK, with its 256 jets making possible designs in up eight colours per pattern. With sustainability very much at the forefront of the company’s approach, Phoenox recycles most of its paste and inks and uses organic options wherever possible, as well as recycled water.

“We operate a piece dye colour cloth programme and can dye nylon and cotton with weights of up to 500kg per load, working with direct, organic, vat and reactive dyes,” says Mosley. “We also offer computerised and weighed commission dyeing. Computerised automated cutting machines and photocell pattern recognition enable us to cut at high speed in most cloth densities. With finishing and sewing though, it’s all about the detail, and our team have years of experience and hand-finish our products on traditional high-speed machines.”

The new Sellers Hybrid Shearing Cylinder can provide a competitive edge for manufacturers which is currently being proven in the field, including at Phoenox. It’s one of a number of new innovations BTMA members are planning to showcase at next year’s ITMA exhibition in Milan.

Source:

AWOL for Phoenox Textiles

(c) Monforts
10.11.2022

Monforts part of the VDMA Trade Delegation to Turkmenistan

Monforts will take part in a VDMA textile technology trade delegation to Turkmenistan from November 21-26, on behalf of the German Federal Ministry of Economics.

Around 80% of Turkmenistan’s production of textiles and garments is currently exported, with a value of $350 million in 2020. This is now expected to rise to $450 million by 2023.

In addition to expanding in cotton yarns and fabrics, the country is also looking to enter other textile markets, including nonwovens, carpets and absorbent hygiene products, and negotiations are currently underway between the Turkmenistan Ministry of Textile Industry and the Korean Institute of Industrial Technologies to also commence manufacturing synthetic fibres from polymers.

In 2021, a new textile complex was opened by state-owned textile manufacturer Cotam in the city of Kaka, which is aiming to produce 3,650 tons of yarn, 12 million square metres of different types of fabrics and 1.2 million tons of finished products annually, with the creation of 1,300 new jobs.

Monforts will take part in a VDMA textile technology trade delegation to Turkmenistan from November 21-26, on behalf of the German Federal Ministry of Economics.

Around 80% of Turkmenistan’s production of textiles and garments is currently exported, with a value of $350 million in 2020. This is now expected to rise to $450 million by 2023.

In addition to expanding in cotton yarns and fabrics, the country is also looking to enter other textile markets, including nonwovens, carpets and absorbent hygiene products, and negotiations are currently underway between the Turkmenistan Ministry of Textile Industry and the Korean Institute of Industrial Technologies to also commence manufacturing synthetic fibres from polymers.

In 2021, a new textile complex was opened by state-owned textile manufacturer Cotam in the city of Kaka, which is aiming to produce 3,650 tons of yarn, 12 million square metres of different types of fabrics and 1.2 million tons of finished products annually, with the creation of 1,300 new jobs.

Monforts has supplied seven complete finishing machine ranges to Turkmenistan company Cotam, as the Central Asian country looks to boost its production of cotton yarns and fabrics via an ambitious textile industry modernisation plan.

Cotam now has two separate manufacturing sites at Babadayhan and Kaka, both of which have now been equipped with Monforts technologies built at the company’s plant in St Stefan in Austria.

Cotam supplies finished fabrics to both the apparel and home textiles markets and at its Babadayhan plant is now operating two Montex stenter lines and a Monfortex sanforizing line. At its new Kaka plant, the company has also installed two Montex stenter lines, as well as a Thermex universal hotflue for continuous dyeing and curing.

“Turkmenistan celebrated 30 years of independence in 2021 and has made a giant leap forward in its progressive development,” said Monforts Managing Director Stefan Flöth. “A textile industry equipped with modern high-tech equipment has been created factories and equipped with the most advanced and high-performance equipment built and put into operation. We are extremely pleased that the Ministry of the Textile Industry of Turkmenistan chose Monforts machinery for its new textile complex in Kaka and together with the machines for Babadayhan and other recent projects we are proud to say that 15 Monforts machines are now established in the country.”

Source:

AWOL for Monforts

10.11.2022

Indorama Ventures: Resilient YTD earnings in 3Q22

  • Last twelve months (LTM) Core EBITDA of US$2.5B, an increase of 60% YoY
  • Core EBITDA per ton of US$163 in LTM3Q22 and US$159 in 3Q22
  • Operating cash flow of US$1,952 in LTM3Q22, an increase of 59% YoY
  • 3Q22 Core Net Profit of THB 10.34B and Reported Net Profit of THB 8.14B

Indorama Ventures Public Company Limited (IVL) reported a resilient year-to-date performance and increasing earnings in a challenging macroeconomic environment.

IVL posted Core EBITDA of US$606 million in 3Q22, a 39% increase YoY and a decline of 20% QoQ as the strong tailwinds that drove record earnings into 2022 began to normalize in the third quarter.  

  • Last twelve months (LTM) Core EBITDA of US$2.5B, an increase of 60% YoY
  • Core EBITDA per ton of US$163 in LTM3Q22 and US$159 in 3Q22
  • Operating cash flow of US$1,952 in LTM3Q22, an increase of 59% YoY
  • 3Q22 Core Net Profit of THB 10.34B and Reported Net Profit of THB 8.14B

Indorama Ventures Public Company Limited (IVL) reported a resilient year-to-date performance and increasing earnings in a challenging macroeconomic environment.

IVL posted Core EBITDA of US$606 million in 3Q22, a 39% increase YoY and a decline of 20% QoQ as the strong tailwinds that drove record earnings into 2022 began to normalize in the third quarter.  

Strategic acquisitions, including Oxiteno, are bolstering IVL’s increasingly diverse geographic footprint and product portfolio, supporting earnings through volatile economic conditions. Revenue declined 10% QoQ in 3Q and grew 27% YoY as Combined PET, the largest business segment, saw steady volumes through the year, and new portfolio additions performed strongly, such as surfactants in the Integrated Oxides and Derivatives segment. With more than 70% of IVL’s platform catering to consumer daily necessities, demand remains stable.

Fibers segment posted YTD Core EBITDA of $189 million, a rise of 2% YoY. 3Q Core EBITDA increased 2% YoY, and decreased of 11% QoQ, to US$49 million. The Lifestyle fibers business continues to be impacted by the lockdown in China, while management in the Hygiene and Mobility verticals in Europe are effectively managing high energy costs.

Combined PET (CPET) segment achieved YTD Core EBITDA of US$1,192 million, an increase of 42% YoY. Core EBITDA in 3Q22 rose 27% YoY to US$327 million, and declined 24% QoQ, as business remained steady across operations apart from in Europe where peak energy prices continue to put pressure on demand and margins.

D K Agarwal, CEO of Indorama Ventures, said, “We are pleased with our performance across the business cycle. Our management is working hard to extract the advantages that we enjoy in terms of geographic leadership, product diversity, and an unmatched customer base of global household brands. Together with our habitual lens on cost management, these actions will help us to weather the economic challenges and continue to focus on our long-term potential.”

Source:

Indorama Ventures Public Company Limited 

02.11.2022

Nico Reiner as new Chief Financial Officer of Lenzing AG

The Supervisory Board of Lenzing AG, a world-leading provider of sustainably produced specialty fibers for the textile and nonwoven industries, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing’s Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years.

Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials.

The Supervisory Board of Lenzing AG, a world-leading provider of sustainably produced specialty fibers for the textile and nonwoven industries, has appointed Nico Reiner as its new Chief Financial Officer. Mr. Reiner will join Lenzing’s Managing Board led by Chief Executive Officer Stephan Sielaff on January 1, 2023. He will succeed Chief Financial Officer Thomas Obendrauf, who is leaving the company of his own volition after seven years.

Nico Reiner has held several positions in his professional career to date, including CFO at globally operating companies such as Schüco Group, AL-KO Group and Pfleiderer Group, as well as management consultant roles. His most recent appointment was as CFO of Vacuumschmelze GmbH & Co. KG, a global player with headquarters in Hanau that specializes in the development, production and marketing of magnetic materials.

Source:

Lenzing AG

01.11.2022

Rieter donates CHF 100 000 to support Flood Victims in Pakistan

Rieter is donating CHF 100 000 to support relief efforts for victims in Pakistan following the devastating floods of the 2022 monsoon season. Aid will focus on rebuilding schools and helping local healthcare clinics to protect those who are most vulnerable.

The disastrous floods have displaced nearly eight million people, killing more than 1 500 people – including hundreds of children –, and has put millions of lives at risk of health hazards, according to the United Nations.

The money will be donated in equal shares to two local non-government organizations, Citizens Foundation and ZMT clinics. Citizens Foundation was founded in 1995 with the mission to provide education to children who are less privileged. The Foundation is now helping to rebuild the schools destroyed by the floods. ZMT clinics aim to support the development of a comprehensive primary health care system in Pakistan. They are now setting up clinics to provide medical aid to flood victims.

Rieter is donating CHF 100 000 to support relief efforts for victims in Pakistan following the devastating floods of the 2022 monsoon season. Aid will focus on rebuilding schools and helping local healthcare clinics to protect those who are most vulnerable.

The disastrous floods have displaced nearly eight million people, killing more than 1 500 people – including hundreds of children –, and has put millions of lives at risk of health hazards, according to the United Nations.

The money will be donated in equal shares to two local non-government organizations, Citizens Foundation and ZMT clinics. Citizens Foundation was founded in 1995 with the mission to provide education to children who are less privileged. The Foundation is now helping to rebuild the schools destroyed by the floods. ZMT clinics aim to support the development of a comprehensive primary health care system in Pakistan. They are now setting up clinics to provide medical aid to flood victims.

Rieter has selected these organizations together with its partners in Pakistan. Both aid organizations were chosen based on their ability to provide fast and effective relief where it is needed most. Pakistan is an important textile hub, with textiles making up 60% of the country’s exports. Rieter has been present in Pakistan since 1969.

More information:
Rieter Pakistan Charity
Source:

Rieter Management AG

31.10.2022

DC International has selected Fresh Relevance for personalized online experiences

Fresh Relevance announces that DC International has selected its versatile personalization platform to power personalized online experiences for its Coverstore and Leatherology brands.

DC International is a vertically integrated eCommerce company and home to two fast-growing direct-to-consumer brands: Coverstore and Leatherology. By selecting Fresh Relevance to power personalization across the website and email marketing of Coverstore and Leatherology, DC International will be providing shoppers with a more engaging and tailored online experience. The business will take advantage of the rich feature set within the Fresh Relevance platform, including product recommendations.

“We’re delighted to welcome DC International to the Fresh Relevance family and are excited to help them provide their Coverstore and Leatherology customers with a more tailored and valuable experience online,” says Mike Austin, CEO & Co-founder at Fresh Relevance.

Fresh Relevance announces that DC International has selected its versatile personalization platform to power personalized online experiences for its Coverstore and Leatherology brands.

DC International is a vertically integrated eCommerce company and home to two fast-growing direct-to-consumer brands: Coverstore and Leatherology. By selecting Fresh Relevance to power personalization across the website and email marketing of Coverstore and Leatherology, DC International will be providing shoppers with a more engaging and tailored online experience. The business will take advantage of the rich feature set within the Fresh Relevance platform, including product recommendations.

“We’re delighted to welcome DC International to the Fresh Relevance family and are excited to help them provide their Coverstore and Leatherology customers with a more tailored and valuable experience online,” says Mike Austin, CEO & Co-founder at Fresh Relevance.

Source:

Fresh Relevance / CHIEF PR

(c) EFI
31.10.2022

EFI sells 300th VUTEk FabriVU Printer

Orbus Exhibit & Display Group® has continued its substantial and longstanding relationship with digital print technology provider Electronics For Imaging, Inc., choosing the premium-quality capabilities of the EFI™ VUTEk® FabriVU® 340+ soft signage printer to meet surging demand for dye-sublimation soft signage graphics. The new printer now running at Orbus’s Las Vegas facility marks an important milestone for EFI, as it is the 300th EFI VUTEk FabriVU printer installed worldwide.

Orbus is North America’s top trade manufacturer of soft signage and flag graphics for tradeshow exhibits, promotional displays, experiential retail and corporate interiors. The company is one of the largest users of EFI soft signage printers worldwide. The newly installed FabriVU 340+ model joins two additional FabriVU printers at Orbus Las Vegas. The company has its fourth FabriVU printer at its headquarters facility, along with a pair of high-volume EFI industrial printers used exclusively for dye-sublimation production.

Orbus Exhibit & Display Group® has continued its substantial and longstanding relationship with digital print technology provider Electronics For Imaging, Inc., choosing the premium-quality capabilities of the EFI™ VUTEk® FabriVU® 340+ soft signage printer to meet surging demand for dye-sublimation soft signage graphics. The new printer now running at Orbus’s Las Vegas facility marks an important milestone for EFI, as it is the 300th EFI VUTEk FabriVU printer installed worldwide.

Orbus is North America’s top trade manufacturer of soft signage and flag graphics for tradeshow exhibits, promotional displays, experiential retail and corporate interiors. The company is one of the largest users of EFI soft signage printers worldwide. The newly installed FabriVU 340+ model joins two additional FabriVU printers at Orbus Las Vegas. The company has its fourth FabriVU printer at its headquarters facility, along with a pair of high-volume EFI industrial printers used exclusively for dye-sublimation production.

The upgraded performance comes courtesy of the VUTEk FabriVU 340+ printer’s new, eight-printhead, CMYK x 2 array, along with new electronics for reliable and consistent premium-quality output of exhibit graphics, backlit graphics, retail fixture wraps, front lit graphics, block-out banners and fabric interior decor. A flag printing kit on the printer easily handles porous media in high-penetration applications by collecting inks without touching the rear side of the media.
 
As with all VUTEk FabriVU printers, it prints both transfer paper and direct-to-fabric.

Source:

EFI

(c) Freudenberg Performance Materials Holding SE & Co. KG
31.10.2022

Freudenberg: Elastic superabsorbers for wound dressings

Freudenberg Performance Materials (Freudenberg) has launched an elastic variant of its flexible superabsorbers for modern wound dressings. These superabsorbers increase the comfort level for patients as well as enabling longer wear time, thus reducing the frequency of dressing changes. Freudenberg is debuting the elastic superabsorbers at this year’s Compamed in Düsseldorf, from November 14 – 17, 2022. Further highlights at the trade fair include components for more sustainable wound care, PU foams with directly applied silicone adhesives, and an innovative hydrophilic debridement foam.

Freudenberg uses a new technology to manufacture the elastic superabsorbers. Unlike other methods, this technology does not perforate or slit the material, thus achieving a high degree of consistent elasticity. Furthermore, the technology used by Freudenberg bonds the superabsorbent fibers more uniformly with the material, thus enhancing the integrity of this layer in the wound dressing.

Freudenberg Performance Materials (Freudenberg) has launched an elastic variant of its flexible superabsorbers for modern wound dressings. These superabsorbers increase the comfort level for patients as well as enabling longer wear time, thus reducing the frequency of dressing changes. Freudenberg is debuting the elastic superabsorbers at this year’s Compamed in Düsseldorf, from November 14 – 17, 2022. Further highlights at the trade fair include components for more sustainable wound care, PU foams with directly applied silicone adhesives, and an innovative hydrophilic debridement foam.

Freudenberg uses a new technology to manufacture the elastic superabsorbers. Unlike other methods, this technology does not perforate or slit the material, thus achieving a high degree of consistent elasticity. Furthermore, the technology used by Freudenberg bonds the superabsorbent fibers more uniformly with the material, thus enhancing the integrity of this layer in the wound dressing.

“Our new elastic superabsorbers demonstrate yet again how Freudenberg components help increase comfort for patients, reduce the workload for nursing staff and lower healthcare costs. Our extensive technology platform and our innovative strength are the basis for this,” Dr. Henk Randau, SVP and General Manager Global Division Healthcare at Freudenberg Performance Materials, said.

Source:

Freudenberg Performance Materials Holding SE & Co. KG

(c) Rieter
Autoconer X6
31.10.2022

Rieter at India ITME 2022

Rieter is presenting the latest innovations in its systems, components and services at the upcoming India ITME 2022 in Uttar Pradesh (India), taking place from December 8 – 13, 2022.

Autoconer X6
The automatic winding machine Autoconer X6 completes the Rieter ring and compact-spinning systems. The machine serves as the final quality assurance in the ring and compact-spinning process and is key to the performance of the subsequent process stages. The Multilink system with Multilot offers maximum flexibility to handle a different type of yarn.

The latest splicer generation OZ1 and OZ2 provides an optimum splice quality based on an open prism. With only two prisms spinning mills can splice the entire spectrum of cotton yarns as well as blends. They are also used for the splicing of cotton-based elastic core yarns in combination with the Elastosplicer. The splice zone exhibits an impressive elasticity in the fabric.

Rieter is presenting the latest innovations in its systems, components and services at the upcoming India ITME 2022 in Uttar Pradesh (India), taking place from December 8 – 13, 2022.

Autoconer X6
The automatic winding machine Autoconer X6 completes the Rieter ring and compact-spinning systems. The machine serves as the final quality assurance in the ring and compact-spinning process and is key to the performance of the subsequent process stages. The Multilink system with Multilot offers maximum flexibility to handle a different type of yarn.

The latest splicer generation OZ1 and OZ2 provides an optimum splice quality based on an open prism. With only two prisms spinning mills can splice the entire spectrum of cotton yarns as well as blends. They are also used for the splicing of cotton-based elastic core yarns in combination with the Elastosplicer. The splice zone exhibits an impressive elasticity in the fabric.

Compacting Solutions
The Rieter compacting devices include the COMPACTapron, COMPACTeasy and COMPACTdrum. Spinning mills can change quickly between ring and compact yarn and offer customers a broader product range.

Recycling Expertise from Rotor to Ring
Rieter offers solutions for the integration of recycled raw material into yarn production to help close the textile loop and make fashion more circular. Both rotor and ring yarns can be produced with a considerable amount of mechanically recycled fibers.

ESSENTIALorder
Based on existing customer information, the webshop ESSENTIALorder visualizes which Rieter machines andn systems are available inside each spinning mill. It therefore offers a personalized shopping experience and facilitates order management, enabling spinning mills to optimize their internal stock levels.

ROBOspin
The piecing robot ROBOspin reduces personnel requirements in the ring spinning section by 50%. The robot also attains productivity increases thanks to higher spindle speeds at equal or higher efficiency.

SSM NEO-FD
SSM is presenting NEO-FD, the assembly-winding machine for precision wound packages for twisting. It meets all requirements for efficient production. The machine features the auto-doffing option and the online back-pressure system for low and high package densities.

Temco CoolFlow Disc
Temco’s CoolFlow texturing discs offer longer lifetime thanks to a brand-new geometry and the latest polyurethane technology. The texturing discs now generate a disc surface that operates at a lower temperature, resulting in slower ageing and abrasion. Further benefits are more stable yarn quality, higher productivity, and an overall process cost reduction.

(c) adidas AG
31.10.2022

and wander and adidas terrex present their outdoor collection

Inspired by this innate desire to experience nature and a shared vision, adidas TERREX has teamed up with fashion-forward Japanese outdoor label and wander on a collection that will take hikers from city centre to mountain top (and back again) in style.

Since its inception, adidas TERREX has focused on providing people with the clothing and apparel they need to realize their individual goals in the outdoors and enjoy the benefits of nature.

Tokyo designers Keita Ikeuchi and Mihoko Mori, meanwhile, launched their own outdoor label and wander in 2011 to bring more creativity to outdoors wear. By pairing high-fashion design with the practical requirements needed for adventure, theirs is a modern approach to apparel that works both in the wild, and on the streets.  

Together, adidas TERREX and and wander have collaborated on a multi-seasonal collection that ties these philosophies together to help people enjoy more outdoors experiences.

Inspired by this innate desire to experience nature and a shared vision, adidas TERREX has teamed up with fashion-forward Japanese outdoor label and wander on a collection that will take hikers from city centre to mountain top (and back again) in style.

Since its inception, adidas TERREX has focused on providing people with the clothing and apparel they need to realize their individual goals in the outdoors and enjoy the benefits of nature.

Tokyo designers Keita Ikeuchi and Mihoko Mori, meanwhile, launched their own outdoor label and wander in 2011 to bring more creativity to outdoors wear. By pairing high-fashion design with the practical requirements needed for adventure, theirs is a modern approach to apparel that works both in the wild, and on the streets.  

Together, adidas TERREX and and wander have collaborated on a multi-seasonal collection that ties these philosophies together to help people enjoy more outdoors experiences.

With a striking visual update, the lightweight TERREX Free Hiker 2 offers grip on a range of surfaces, and a responsive BOOST midsole that delivers incredible energy return. With a breathable upper and a sock-like fit that adapts to every step, this supportive shoe made in part with Parley Ocean Plastic is ready for adventure, anywhere.

With the TERREX Free Hiker 2 taking care of the feet, the TERREX XPLORIC and wander COLD.RDY Down Jacket is a functional essential with eye-catching design. COLD.RDY insulating material help keep the warmth in, while prominent TERREX x and wander reflective prints on the jacket and detachable hood help it stand out. With an array of pockets and adjustable features for the right fit, this versatile jacket’s natural habitat is everywhere. It’s also made in part with recycled materials.

adidas TERREX x and wander graphics and reflective detailing have been worked into the rest of an adventure-ready outdoor clothing collection that also includes a TERREX Fleece Jacket, loose-fit unisex TERREX Graphics Hoody and TERREX Pants.

Also available in the adidas TERREX x and wander collection are breathable Merino Wool Hiking Socks made with COLD.RDY technology for snug hiking , a quilted Winterized Bucket Hat, and a lightweight AERO.RDY Hiking Backpack that is loaded with features to look after outdoor essentials.

More information:
adidas Outdoor Clothing industry
Source:

adidas AG

31.10.2022

Autoneum: Long-term financing sustainably secured

Autoneum Holding Ltd signed a new loan agreement with a syndicate of banks led by UBS and Credit Suisse on the 31st of October 2022. This loan agreement replaces with immediate effect the existing syndicated loan, which was due to run until December 31, 2022.

The credit line specified under the new agreement remains at CHF 350 million and includes a substantial financial reserve for the Company. The main provisions of the previous loan agreement also apply unchanged to the new loan agreement, which runs for five years until October 31, 2027.

“We are pleased to have concluded this loan agreement, which secures the Group’s long-term financing,” said Bernhard Wiehl, Chief Financial Officer at Autoneum. “It is also important to say at this point that Autoneum has managed to further strengthen its financial stability over the last three years despite the corona crisis and a challenging environment in the automotive industry. Positive cash flow development over the past two years has enabled Autoneum to continuously reduce net debt since 2020.”

Autoneum Holding Ltd signed a new loan agreement with a syndicate of banks led by UBS and Credit Suisse on the 31st of October 2022. This loan agreement replaces with immediate effect the existing syndicated loan, which was due to run until December 31, 2022.

The credit line specified under the new agreement remains at CHF 350 million and includes a substantial financial reserve for the Company. The main provisions of the previous loan agreement also apply unchanged to the new loan agreement, which runs for five years until October 31, 2027.

“We are pleased to have concluded this loan agreement, which secures the Group’s long-term financing,” said Bernhard Wiehl, Chief Financial Officer at Autoneum. “It is also important to say at this point that Autoneum has managed to further strengthen its financial stability over the last three years despite the corona crisis and a challenging environment in the automotive industry. Positive cash flow development over the past two years has enabled Autoneum to continuously reduce net debt since 2020.”

With the syndicated loan, the Group’s liquidity and long-term financing continue to be sustainably secured through a broad-based syndicate of twelve banks.

Source:

Autoneum Management AG