From the Sector

The Global Nonwovens Alliance (GNA), a tax-exempt federation jointly founded by INDA, the Association of the Nonwoven Fabrics Industry, and EDANA, the Voice of Nonwovens, announces the appointment of its founding Board of Directors. This group of leaders represents some of the most influential executives across the nonwovens value chain and reflects GNA’s mission to foster global collaboration, innovation, and growth in the industry.  

This newly appointed Board unites leaders from North America and Europe to advance GNA’s core objectives: strengthening advocacy with a global voice, expanding education and networking opportunities, driving efficiencies, and promoting innovation and sustainability across the nonwovens sector. 

INDA representatives to the GNA Board include: 

• Mark A. Thornton, Vice President, The Procter & Gamble Company  
• Mike Clark, Division President, Hollingsworth & Vose Company 
• Jodi Russell, Vice President R&D, Cleaning Innovation, Packaging & Sustainability, The Clorox Company 
• Paul Harmon, Chief Innovation and Marketing Officer, Magnera 
• Douglas Dowdell, Director Helix, Global Cellulose Fibers, International Paper 
• Jaren J. Edwards, Co-CEO and President, Everra 

EDANA representatives to the GNA Board include:  

• Mikael Staal Axelsen, Group CEO, Fibertex Personal Care/Innowo Print 
• Jörg Ortmeier, Chief Executive Officer, TWE Group GmbH 
• Giorgio Mantovani, Managing Director, Corman Spa 
• Dr. Thorsten Habeck, Business Director Dispersions for Fiber Bonding – Europe, Middle East & Africa, BASF SE 
• Dr. Ulrich Hornfeck, Member of Management Board, Sandler AG 
• Anke Renz, Vice President Research & Development, Essity 

Mark A. Thornton will act as Chair and Mikael Staal Axelsen as Vice-Chair of this newly established Board. Both bring extensive industry experience, strong strategic vision, and proven commitment to advancing the sector. Their leadership will be instrumental in steering the organization through its next phase of growth and collaboration.  

The Board has also appointed Murat Dogru as Chief Executive Officer (CEO) of the organization. He will lead the GNA’s strategy, operations, and engagement with global stakeholders. As CEO, he will be responsible for ensuring that the organization delivers on its mission to represent and advance the industry at large. The position will officially start 1st January 2026.  

The LYCRA Company, a global leader in developing fiber and technology solutions for the apparel and personal care industries, announced two strategic leadership moves to accelerate innovation and growth.

Robert Johnston has been promoted to chief operating officer from his previous role as executive vice president, operations, and Doug Kelliher has been appointed executive vice president, product. Kelliher will join the company’s global leadership team, while Johnston continues in his leadership capacity. Both executives report directly to CEO Gary Smith.
 
Robert Johnston, Chief Operating Officer
Johnston, a 35-year veteran of The LYCRA Company and its predecessor organizations, will expand his leadership to include product development, in addition to his current oversight of global manufacturing operations and IT. In his new role, Johnston will manage R&D talent, lab resources, and pilot production to drive innovation across the product portfolio, supporting strategic growth priorities identified by Kelliher’s team.

Doug Kelliher, EVP, Product
Kelliher will lead the product management team in developing and executing strategy across fibers, fabrics, and garments. His team works to deliver differentiated solutions that add value and meet the needs of today’s consumer. With more than 30 years of product leadership experience at Timberland, Velcro Companies, Polartec and Milliken & Company, Kelliher brings deep expertise to his role.

"As the apparel industry continues to evolve, our focus remains on delivering high-performance solutions that meet consumer needs and help brands and retailers differentiate and thrive," said Gary Smith, CEO of The LYCRA Company. "Doug and Robert bring exceptional leadership, vision, and industry expertise to their roles, strengthening our ability to co-create with customers, accelerate innovation, and bring transformative technologies to market faster and more efficiently.”
 
About The LYCRA Company
The LYCRA Company innovates and produces fiber and technology solutions for the apparel and personal care industries and owns the consumer brands:  LYCRA®, LYCRA HyFit®, LYCRA® T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX® and TACTEL®. Headquartered in Wilmington, Delaware, U.S., The LYCRA Company is recognized worldwide for its sustainable products, technical expertise, and marketing support. The LYCRA Company focuses on adding value to its customers’ products by developing unique innovations designed to meet the consumer’s need for comfort and lasting performance. 

On various biological surfaces, oil is adsorbed from water surfaces and transported along the leaf. In her dissertation, ITA Postdoc Dr Leonie Beek transferred this effect to a technical textile using her Bionic Oil Absorber (BOA), which can remove up to 4 litres of diesel per hour from water at technological readiness level 4. For this development, Dr Beek was awarded the Paul Schlack Prize 2025 for her dissertation ‘Bionic textiles for oil-water separation modelled on superhydrophobic biological surfaces’ on 10 September 2025. The award ceremony took place during the opening event of the Dornbirn GFC Global Fiber Congress in Austria.

Oil-water separation without additional energy or toxic substances 
Dr Leonie Beek's dissertation focused on the sustainable separation of oil and water. On various biological surfaces, oil is adsorbed from water surfaces and transported along the leaf. This effect differs from technical solutions in that oil-water separation is achieved without external energy and without toxic substances.

Possible use in harbour basins or in the event of flooding/pollution of inland waters 
Dr Beek integrated the bionic textile into a floating device (Bionic Oil Adsorber – BOA). The BOA demonstrator, which has a technology readiness level of 4, can remove up to 4 litres of diesel per hour. It is intended for use in port areas. Another promising application is in the event of flooding and pollution of inland waters and urban sewage treatment plants.

Ecologically and economically sustainable technology 
The technology is ecologically sustainable, as both the textile and the separated oil can be reused. It is also economically sustainable, as the textile is up to 13 times cheaper than sorption materials with a service life of 21 days.

Overall, Dr Leonie Beek succeeded in her dissertation in transferring the biological principle to a bionic textile and presenting a product for use in the completely new application of oil-water separation. This is the first time that superhydrophobic surfaces have been used outside of friction reduction.

Since 1971, the Paul Schlack Prize has been awarded at the Dornbirn GFC Global Fiber Congress (formerly Dornbirn Man-made Fibers Congress) in Dornbirn (Austria) to promote chemical fibre research at universities and research institutes. Previous ITA winners of the Paul Schlack Prize include Dr Stefan Peterek, Dr Andreas De Palmenaer, Prof. Dr Gunnar Seide, Dr Wilhelm Steinmann, Dr Stephan Walter, Dr Gisa Wortberg, Dr Benjamin Weise, and Dr Markus Beckers.

On the occasion of New York Climate Week, Global Fashion Agenda (GFA) has launched the Fashion CEO Agenda 2025, a strategic resource for leaders of fashion brands and retailers, designed to guide immediate action to future-proof businesses while advancing towards a net-positive fashion industry by 2050.

Published at a pivotal mid-decade reflection point - with less than five years remaining to meet the UN Sustainable Development Goals and scientists warning of only three years left to alter the trajectory of global warming - the report comes as the industry faces turbulence, from economic volatility and deregulation to escalating climate and social crises.

The updated agenda urges executives to take action according to its long-standing five-priority sustainability framework - Respectful and Secure Work Environments, Better Wage Systems, Resource Stewardship, Smart Material Choices, and Circular Systems. For the first time, the 2025 edition introduces Priority Accelerators: Innovation, Capital, Courage, Incentives, and Regulation. These build on the themes discussed at Global Fashion Summit: Copenhagen Edition this year, positioned as critical levers that cut across all five priorities, enabling systemic change at speed and scale.

The Fashion CEO Agenda 2025 is structured in two clear parts: Part one presents overarching ambitions for the fashion sector that demand collective action across stakeholders, while part two outlines the immediate, short-term, practical steps brands and retailers can take today to advance those ambitions.

The 2025 edition builds upon the ambitions first presented in the 2023 Fashion CEO Agenda which were developed through years of stakeholder engagement and validated by GFA and the UN Environment Programme’s global Fashion Industry Target Consultation. Two years on, these ambitions remain central to industry-wide progress. For 2025, they’ve been re-evaluated in consultation with leading multi-stakeholder initiatives and experts to ensure continued ambition, impact, and relevance. The scope now expands to further urgent priorities such as fair and ethical treatment of migrant workers and empowering workers through inclusive automation and reskilling, with a firm focus on the need for transformation that benefits both the planet and its communities.

To support implementation, GFA has also released new complementary materials including a practical toolkit guiding companies to credible existing industry tools, guidelines, and programmes, as well as a presentation deck that fashion leaders can adapt internally to educate teams. These resources are designed to help leaders embed the Fashion CEO Agenda into company strategies and communicate it effectively throughout their organisations.

Federica Marchionni, CEO of Global Fashion Agenda, said: “Climate change is the defining certainty in an uncertain global world, impacting all lives and communities. The investments needed to future-proof businesses will keep increasing and the cost of inaction will inevitably become greater than the investments needed to address it. This year’s Fashion CEO Agenda provides leaders with a clear path to embed sustainability at the heart of corporate strategy, supported by enabling conditions that make bold action both possible and necessary.”

Die Bundesbürger verbringen so viel Zeit im Internet wie nie zuvor. Knapp 72 Stunden ist jeder Deutsche im Schnitt pro Woche online; das sind umgerechnet drei Tage. Vor fünf Jahren lag die wöchentliche Internetnutzung noch bei rund 56 Stunden. Jüngere Deutsche sind dabei deutlich online-affiner als ältere: Die 18- bis 39-Jährigen verbringen pro Woche fast 86 Stunden im Internet, bei den ab 40-Jährigen sind es mehr als 65 Stunden. Fast immer dabei: das Smartphone. Neun von zehn Deutschen gehen damit mobil online. Das sind Ergebnisse der repräsentativen „Postbank Digitalstudie 2025“.

Deutsche verbringen die meiste Zeit mit dem Smartphone online
„Das Internet ist der zentrale Taktgeber im Alltag. Messenger, Streaming, aber auch das mobile Banking sind für viele inzwischen selbstverständlich“, sagt Thomas Brosch, Leiter Digitalvertrieb der Postbank. „Dabei ist das Smartphone zum ständigen Begleiter geworden, mit großem Abstand vor Laptops und Tablets.“ Wie wichtig das Smartphone für das digitale Leben ist, zeigt auch die Nutzungsdauer. Mit keinem anderen Gerät verbringen die Bundesbürger mehr Zeit im Internet: Fast 26 Stunden sind sie damit pro Woche online – knapp zehn Stunden mehr als noch vor fünf Jahren. Dahinter rangieren Notebooks und Laptops mit gut 11 Stunden und Desktop-PCs mit fast 10 Stunden.

Was machen die Deutschen online? 81 Prozent nutzen mehrmals pro Woche bis täglich Messenger-Dienste wie WhatsApp oder Signal. Sieben von zehn suchen gezielt nach Informationen und Nachrichten, ebenso viele sind regelmäßig in sozialen Netzwerken wie Instagram und Facebook aktiv. Jeweils rund die Hälfte der Befragten schaut Videos auf YouTube und Filme oder Serien auf Streaming-Plattformen oder erledigt online Bankgeschäfte. 

Jüngere surfen besonders viel – und haben gute Vorsätze
Die intensive Nutzung führt bei vielen aber auch zu einer Sättigung: 72 Prozent der Befragten wollen ihre Online-Aktivität nicht weiter steigern. Ein knappes Fünftel will die Zeit im Internet sogar bewusst einschränken. Vor allem die Jüngeren denken darüber nach: 36 Prozent der 18- bis 39-Jährigen wollen künftig weniger online sein und sich zum Beispiel persönlich mit Familie und Freunden treffen. 

Hintergrundinformationen zur Postbank Digitalstudie 2025
Für die „Postbank Digitalstudie 2025 – die digitalen Deutschen“ wurden zwischen Mai und Juni dieses Jahres 3.050 Einwohnerinnen und Einwohner befragt. Die Postbank untersucht mit der Studie im elften Jahr in Folge, welche Entwicklungen sich in verschiedenen Lebensbereichen in Bezug auf Digitalisierung allgemein und insbesondere zu Finanzthemen abzeichnen. Um eine bevölkerungsrepräsentative Struktur abzubilden, erfolgte eine Gewichtung der Stichprobe nach Bundesland (Proportionalisierung), Alter und Geschlecht. Als Referenzdatei wurde der Mikrozensus 2022 des Statistischen Bundesamtes zugrunde gelegt. Die Ergebnisse sind auf ganze Zahlen gerundet. Abweichungen in den Summen lassen sich durch Rundungsdifferenzen erklären.

Members of TMAS – the Swedish textile machinery manufacturers association – will introduce a range of new developments at the forthcoming ITMA Asia + CITME textile machinery exhibition in Singapore from October 28-31, with the emphasis on sensor-based automation and resource savings.

“The push for automation, AI-driven production and digitalisation continues to accelerate as manufacturers seek to improve efficiency and reduce dependency on repetitive tasks for operatives,” says TMAS Secretary General Therese Premler-Andersson. “Advanced automation enables predictive maintenance and real-time quality monitoring in fully integrated production systems and our members are already exploiting these technologies to help customers reduce downtime, improve efficiency and produce more sustainably.”

Single supplier
Under its trademarked slogan ‘Complete Process – One Supplier’, for example, ACG Kinna Automatic has pioneered the development of complete robotic lines for the production of pillows and duvets for the home furnishings sector – from the handling and opening of filling material and full line fabric feeding to sewing, digital quality control and packing.

Just a few years ago, such lines were seen by manufacturers as something exciting to perhaps consider for the future, but suddenly they have become essential to competing and surviving in today’s fast-moving industry.

“Automation has become a must for a number of reasons,” says ACG Kinna Marketing and Sales Manager Tomas Aspenskog. “Product traceability, flexibility and local production, in addition to new trade regulations, are now driving the market and given the challenge of finding skilled operators and constantly increasing costs, manufacturers are looking for simpler systems that will save on resources and boost productivity wherever possible.

“Our modular solutions enable customers to be more flexible and faster in adapting specific parts of a production line to meet new demands, and also to grow over time. There are also many benefits for manufacturers in dealing with only one project leader, contact person, supplier, freight handler and installation team.”

Industrial sewing
In Singapore, ACG Kinna Automatic will introduce the new Hector industrial sewing machine designed for the heavy duty circular and point stitching of filled textile components such as garden cushions, outdoor pillows and mattresses. Hector is already being employed by leading Swedish retailers including IKEA and JYSK in their manufacturing operations.

The Hector’s sewing arm is adjustable and can open up to accommodate thicker items under the needle and presser foot. It is available in three versions with sewing arms in lengths of 60, 100 and 120 centimetres.

Eltex EyETM
Another TMAS member, Eltex has made an important breakthrough on its EyETM tension monitoring system for the heat setting, tufting, warping and winding sectors, with the addition of electromagnetic brakes in combination with the latest advanced sensors. These enable tension variation to not only be detected, but automatically adjusted in real time during operation, rather than manually changed as previously.

The company’s ACT-R unit can further significantly reduce the selvedge yarn waste from the weft insertion systems of rapier weaving machines, while at the same time maintaining equal and steady tension across all pre-winders.

“Our ACT-R is a completely plug and play, stand-alone system and self synchronizes without any communication with the weaving machine,” explains Eltex Sales Engineer Michél Gamhov. “This is important, because many older weaving machines are still in operation worldwide, and the ACT-R enables instant improvements to be made without upgrading these machines in any way. We have achieved fantastic results for weavers working with recycled yarns who have been amazed at the difference in consistent quality and uninterrupted production that can be achieved.

“As everyone knows, the less waste you have the more you save in materials, labour, runtime and quality and we can help mills cut losses in many of these areas depending on the challenges they are facing. Many of our sensor-based systems are able to give older textile machines a new life and in Singapore we’re looking forward to talking to customers about the problems they face, because we believe there’s even more, we can do with our advanced technologies to make their existing machines more efficient.”

Svegea tubular components
The colarette machines of Svegea set the standard throughout Asia for the high speed production of tubular apparel components such as cuffs, collars and neck tapes and in Singapore the company will demonstrate its EC 50 and EC 200 with E-Drive II models, in addition to linked cutting systems.

“Our collarette machines are designed for long life-cycle durability and energy efficiency, reducing waste while providing high-quality binding,” says Svegea Managing Director Håkan Steene. “Our customers in Asia are increasingly looking to automation to improve efficiency and achieve cost savings and we address these needs by developing flexible machines that can be adapted to a wide range of customer requirements and combine high performance with user-friendly automation features.

Vandewiele know-how
Advanced weaving control is also the bedrock of business for Vandewiele Sweden AB, which supplies weft yarn feeding and tension control units for weaving looms to the majority of the leading weaving machine manufacturers, as well for retrofitting in working mills around the world and will present its latest X4 yarn feeders with integrated accessory displays at ITMA ASIA + CITME 2024.

X4 feeders are available in three different versions – with an integrated tension display (TED), with integrated active tension control (ATC), or with quick release, which enables weft tension settings to be transferred from one machine to another, enabling a fast start-up the next time the same article is woven. The position of the S-Flex Tensioner is constantly monitored by an internal sensor – even if adjustment is made during power off.

Vandewiele Sweden has recently further strengthened its product portfolio with IRO Gaugepart modules which are applied to tufting looms for the carpet industry, to determine the appearance of a carpet in terms of feel and structure. All parts are now available to order from the www.iroonline.com e-commerce site.

“Our size and flexibility mean that we can offer bespoke customer solutions according to specific requests – something that many larger manufacturers have difficulty matching,” says Division Manager Tobias Sternfeldt. 

Spray technology
Finally, the automated Texcoat G4 finishing system of BW Converting has been a runaway success in the past few years and the company will announce an entirely new, but related technology shortly before the Singapore exhibition.

“TexCoat G4 spray technology was developed in Sweden from our off-set printing business and we initially focused on installing units in Europe and the USA,” explains the company’s Vice President of Global Business Development for Textiles Rick Stanford. “In the past two years, however, we have been very active in Asia, with 35 units sold – and many of these customers have been asking for technologies in related areas. We’ll be saying more very shortly.” 

Kraig Biocraft Laboratories, Inc., a leader in spider silk technology, is appointed Kenneth Le as Managing Director of its wholly owned recombinant spider silk production subsidiary, Prodigy Silk Ltd.
 
Le has been an integral leader in The Company’s Southeast Asian operations for many years, overseeing the expansion of its specialized spider silk rearing and production systems. Under his guidance, Kraig Labs and Prodigy Silk have grown from pilot-scale operations to full-scale commercial rearing centers that continue to set records for spider silk production.
 
Le brings extensive management experience, operational oversight, and team development expertise. His leadership has been instrumental in creating the foundation for Prodigy Silk’s current production successes, ensuring that the Company's advanced biotechnology is translated into reliable and sustainable silk output.
 
"Ken has been at the center of our growth story in Southeast Asia. His ability to combine operational expertise with a deep understanding of our recombinant spider silk technology makes him the ideal choice to lead Prodigy Silk," said Kim Thompson, Founder and CEO of Kraig Labs. "With Ken at the helm, we expect Prodigy Silk to accelerate production, expand capacity, and deliver on the tremendous promise of our technology."
 
As Managing Director, Le will continue to strengthen Prodigy Silk's production capabilities, optimize rearing operations, strengthen our integration with production partners, and drive forward the Company's mission of bringing recombinant spider silk to global markets.
 
"I am honored to take on this new role and to continue building on the successes we've achieved," said Le. "We have an extraordinary team, a proven technology, and the momentum to make spider silk a scalable and commercially viable super material. I look forward to leading Prodigy Silk into this next phase of growth."
 
Kraig Labs' believes Le's leadership will continue to accelerate the pace of innovation and production, positioning Prodigy Silk as the cornerstone of its commercial spider silk operations in Southeast Asia.

Der drupa Preis 2025 geht an die Kunsthistorikerin Anna Maria Jonietz für ihre herausragende Dissertation über die mediceische Selbstbildnissammlung von 1650 bis 1723. Die Arbeit zeigt eindrucksvoll, wie Selbstbildnisse in der Medici-Sammlung gezielt in kunst- und wissenschaftshistorische Diskurse eingebunden wurden und dabei neue Perspektiven auf Bildpolitik und Repräsentation eröffnen. 

Der mit 6.000 Euro dotierte drupa Preis wurde am 1. September 2025 im Rahmen einer feierlichen Zeremonie auf dem Messegelände in Düsseldorf überreicht. An der Übergabe nahmen Wolfram N. Diener, Vorsitzender der Geschäftsführung der Messe Düsseldorf, Sabine Geldermann, Director drupa Portfolio Print Technologies, Prof. Dr. Heidrun Dorgeloh, Prorektorin der Heinrich-Heine-Universität Düsseldorf, Prof. Dr. Stefan Hartmann, Vorsitzender der Kommission zur Förderung des wissenschaftlichen Nachwuchses der Philosophischen Fakultät, und Doktormutter Prof. Dr. Valeska von Rosen teil.

Dr. Andreas Pleßke, Vorstand von Koenig & Bauer und Vorsitzender des drupa Komitees, beglückwünschte die Preisträgerin in einer persönlichen Videobotschaft zu ihrer Leistung. „Diese Auszeichnung würdigt nicht nur eine außergewöhnliche wissenschaftliche Leistung, sondern auch den Mut zu einem innovativen Blick auf historische Bildstrategien – ein Impuls, der weit über die Kunstgeschichte hinaus Wirkung entfaltet“, so Pleßke.

Innovativer Zugang zum Thema
In ihrer mit summa cum laude ausgezeichneten Dissertation analysiert Anna Maria Jonietz die Selbstbildnissammlung der Medici als strategisches Kommunikationsinstrument. Ihr innovativer Zugang zur Bildpolitik des Frühbarocks schlägt zugleich eine Brücke zu aktuellen Fragestellungen rund um Medienwirkung und öffentliche Wahrnehmung. Die Jury würdigte insbesondere die methodische Originalität, den interdisziplinären Ansatz sowie die präzise und quellengestützte Analyse.

Über die drupa Preisträgerin 2025
Anna Maria Jonietz, geboren 1989 im polnischen Ratibor, studierte Kunstgeschichte und Italienisch an der Ruhr-Universität Bochum. Nach Forschungsaufenthalten in München, Düsseldorf und Florenz begann sie ihre Promotion an der Heinrich-Heine-Universität Düsseldorf. Ihre Dissertation wurde im Dezember 2023 mit summa cum laude ausgezeichnet. Im Anschluss arbeitete sie dort als wissenschaftliche Mitarbeiterin am Lehrstuhl für Kunstgeschichte der Neuzeit bis zur frühen Moderne. Heute lebt Jonietz in München und ist Referentin an der Bayerischen Akademie der Wissenschaften.

Über den drupa Preis
Mit dem mit 6.000 Euro dotierten drupa Preis zeichnet die Messe Düsseldorf seit 1978 herausragende, an der Philosophischen Fakultät der Heinrich-Heine-Universität Düsseldorf angefertigte Dissertation aus. Das Preisgeld dient der Publikation und Verbreitung der ausgezeichneten geisteswissenschaftlichen Arbeit. Über die Vergabe des drupa Preises entscheidet ein Fachgremium bestehend aus dem Rektorat der Heinrich-Heine-Universität (HHU) Düsseldorf, dem Vorsitzenden des drupa-Komitees und dem Vorsitzenden der Geschäftsführung der Messe Düsseldorf.

2025 marks the beginning of a new chapter for Bemberg™ in Italy. Following the return of Koji Hamada to Japan, after leading the European division for four years, Junshu Furusawa — with 19 years working at Bemberg™ Division and 4 years in Italy — has been appointed as the new CEO of Asahi Kasei Fibers Italia. With a strong background in innovation, product development and strategic vision within Bemberg Division of Asahi Kasei, Junshu Furusawa brings renewed energy and a deep understanding of the fiber’s technical and responsible value proposition. His commitment to transparent communication and partner engagement will continue to drive Bemberg™’s growth across the European fashion and textile industry. Under Junshu Furusawa’s leadership, Bemberg™ reaffirms its commitment to responsible innovation, design excellence, and long-term partnerships, maintaining its role as a key ingredient in the next generation of luxury fashion. 

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical producer, posted a as management continues to execute its three-year IVL 2.0 transformation strategy, maintaining steadfast focus on fortifying the company against a prolonged downturn in global chemical markets. 

In 1H25, Indorama Ventures’ Adjusted EBITDA1 fell 21% on a year-on-year (YoY) basis to $606 million. Sales volumes dropped 8% YoY as scheduled maintenance at several plants and a winter freeze in the U.S temporarily disrupted operations. The first six months of the year reflected a continuation of the macro-economic pressures that have beset the industry for more than two years, including new Chinese supply and the impact of geopolitical conflicts in Europe and the Middle East on global supply chains, input costs, and consumer demand. 

Throughout this period of profound industry change, Indorama Ventures’ management has continued to drive forward ‘self-help’ actions under IVL 2.0 to optimize operations, reduce fixed costs, and generate cash. Operating cash flow in the first half was strong at $618 million, with 111% Reported EBITDA conversion, while overall fixed costs were reduced by $51 million, net of inflation. These reflect a methodical approach to financial management and commercial excellence as well as the inherent resilience of Indorama Ventures’ unique leadership model across diverse markets. 

In the most recent quarter, operations continued to normalize after the winter freeze and planned turnarounds, which was reflected in a 2% rise QoQ in revenue in 2Q25, although the 11% drop on a year-on-year basis reflected the broader industry challenges. In 2Q25, Adjusted EBITDA climbed 20% QoQ to $330 million, led by an improvement in the company’s largest Combined PET (CPET) business, while down 11% YoY. 

Business Segments 
In 1H25, the Integrated PET portfolio benefited from the asset optimization actions taken over the past year under IVL 2.0, driving a 12% increase in Adjusted EBITDA despite persistent overcapacity in the industry. Overall, CPET segment recorded a 31% YoY decline in Adjusted EBITDA, on a 10% drop in sales volumes, amid multiple planned turnarounds, weaker integrated MEG market conditions in the U.S, and lower NDC production due to the timing of campaign. MTBE profitability normalized in 1H25 with gasoline markets more balanced than in 2024.  

Fibers segment posted a 21% YoY gain in Adjusted EBITDA, and a 3% rise in sales volumes, in 1H25, reflecting an improved business environment in Lifestyle and management’s ongoing actions to streamline operations across the segment. Indovida packaging segment was steady across the half, supported by demand in Egypt and the Philippines. Indovinya segment recorded a 6% decrease in Adjusted EBITDA, on a 3% drop in volumes, on weaker performance in its Essentials business driven by higher palm input costs. The Surfactants business was resilient at 17% margin, flat YoY. 

Mr. Aloke Lohia, Group CEO of Indorama Ventures, said, “Since we launched IVL 2.0 more than a year ago, we have consistently focused on disciplined self-help actions that are building resilience and helping us to emerge stronger and agile to pursue our growth objectives post weathering this historic downturn. One of the final pegs to hammer down is our Integrated EO/EG business in the U.S Gulf Coast. The Board would like to undertake a strategic review of this business to assess its value to our CPET segment. On the growth front, we continue to fund our Surfactants portfolio, our Packaging business, and our leadership of Recycled Polymers from internal cashflows, as well as remain focused on our deleveraging exercise for longer term financial security.” 

Mid-Year Update on IVL 2.0 
Since launching IVL 2.0 in March 2024, Indorama Ventures’ experienced management has continued to focus on bolstering resilience and repositioning the company for long-term sustainable growth. Now, more than 1 year into  the 3-year strategy (2024-2026), leaders are building a leaner, more agile, and financially disciplined enterprise through a program of footprint optimization, operational excellence, innovation, and digital acceleration. 

In the last 12 months, the company rationalized sites in Portugal, Netherlands, Australia and Canada, realizing $116 million in fixed-cost savings. It expects annualized savings of $130–150 million by 2025 and $170–190 million by 2027. Furthermore, the company expects cash proceeds of $190–200 million from the proposed sale of rationalized property from 2H25 through to 2026. 

Indorama Ventures has reorganized its four business segments with empowered, accountable leadership structures and clear mandates to deliver industry-leading performance across the cycle. A similar reorganization of Corporate functions is currently underway. The segments are already benefiting from a comprehensive digital transformation program following the successful rollout of SAP S/4HANA, which is providing the foundation for additional tools including Salesforce and Workday, and AI-driven solutions for manufacturing and maintenance. 

The company continues to maintain a strong liquidity position, with $1.8 billion as of June 2025, and a focus on financial discipline and driving sustainable free cash flow to further strengthen the balance sheet towards a longterm target of Debt/EBITDA at 3x. In the first half, Indorama Ventures raised $1.5 billion through long-term refinancing at improved spreads, which helped reduce costs and ensure liquidity through to 2027. 

As part of its renewed growth strategy to invest in high-value segments and select growth markets, in the first half the company completed the acquisition of a 24.9% equity stake in EPL. An expanded pipeline of innovative highvalue-added (HVA) products includes new offerings such as PEN polymers and PET-G, which generate better margins than traditional PET; and two leading brands in the energy extraction sector, Kemelix and Flowsolve. The Mocksville hygiene fibers facility in the U.S commenced operations during the half, benefiting from the U.S tariffs, while a strategic partnership with PolySource to distribute specialty polymers for advanced applications is broadening the company’s presence in performance materials. 

In 2Q25, Indorama Ventures—one of the world’s leading PET recyclers—marked a significant milestone in recycling 150 billion bottles since operations began in 2011. The company is accelerating its ambition to recycle 50 billion bottles a year, having recycled the last 50 billion bottles in 2.5 years.