Rohit Aggarwal will take over the position of CEO as of 1 September 2024.
Outgoing Chief Executive Officer Stephan Sielaff will leave the company as of August 31, 2024, by mutual agreement with the Supervisory Board.
Lenzing AG
The Lenzing Group reports a gradual improvement in its business performance in the first half of 2024. As expected, the recovery of the markets relevant to Lenzing proved to be sluggish. Although fiber sales volumes increased, fiber prices remained at a low level. The cost of raw materials and energy remained high. At the same time, logistics costs rose significantly in the reporting period.
Outlook
The IMF left its growth forecast for 2024 unchanged at 3.2 percent and raised it to 3.3 percent for 2025. Nevertheless, a number of risks for the global economy remain.
Forecasting future economic growth is rendered more difficult by smoldering global conflicts, trade disputes, and the uncertain outcome of elections, including the USA and the EU.
Consumers are holding back on unnecessary purchases in an environment of rising prices, falling real wages in some cases, and concerns about economic growth. This is hampering a revival of the consumer apparel market, which is important for Lenzing.
The currency environment is expected to remain volatile in the regions relevant to Lenzing.
In the trend-setting market for cotton, a reduction in stock levels and a stable price trend at a low level is expected for the remainder of the 2023/2024 harvest season.
Earnings visibility remains limited overall.
Revenue and earnings in the first half of the year exceeded Lenzing’s expectations, despite the persistently difficult market. Lenzing is ahead of schedule with the implementation of its performance program. The company expects that the measures will make a greater contribution to further improving earnings in the coming quarters.
Taking the aforementioned factors into consideration, the Lenzing Group confirms its guidance for the 2024 financial year of year-on-year higher EBITDA.
Structurally, Lenzing continues to anticipate growth in demand for environmentally responsible fibers for the textile and clothing industry as well as for the hygiene and medical sectors. As a consequence, Lenzing is very well positioned with its strategy and is pushing both profitable growth with specialty fibers and the further expansion of its market leadership in the sustainability area.
Lenzing AG
The Lenzing Group is working with the non-profit organisation RTDS Group and 13 other partners from research and industry to promote the scaling of lyocell filaments as part of the CELLFIL project. Co-funded by the EU with EUR 6.9 million, the project aims to drive the reformation of the textile industry towards greater sustainability and a circular economy.
The Austrian organisation RTDS has launched the CELLFIL project with great vision. In close cooperation with Lenzing Group, which is at the technical helm of the project, CELLFIL aims to reform the textile industry. The centrepiece of the project is the sustainable and robust production of lyocell filaments. By optimising the entire fabric production process and its intermediate processing steps, the aim is to replace synthetic fibers with environmentally friendly lyocell filaments in recyclable end applications. This approach aims to develop and utilise alternative raw material sources for textiles. The realisation of these goals is crucial for scaling up lyocell filament production and promoting a circular economy that represents an environmentally friendly alternative to the currently dominant fossil-based synthetic filaments.
CELLFIL is part of the EU research and innovation program Horizon Europe and is supported by 15 partners from eight different countries. EUR 6.9 million from the European Union's Horizon Europe program has been made available for the implementation of this initiative. The European Commission has presented a visionary roadmap for the future of textiles, aiming for a circular economy in which all textiles on the EU market are durable, repairable and recyclable. This underlines Europe's commitment to sustainable innovation and a greener future in the textile sector.
Lenzing AG
(c) Kit Ping Au Yeung
Lenzing Group announces the appointment of Kit Ping Au-Yeung as the Executive Vice President of Commercial Textiles with immediate effect. This strategic leadership appointment highlights Lenzing’s commitment to strengthen its integral leadership roles and fuel the growth of its core textile businesses. Kit Ping succeeds Florian Heubrandner, who will take on a new role as Executive Vice President of Filament to reinforce the expansion of Lenzing’s global filament business.
In her new role, Kit Ping will be leading the expansion strategy and development of Lenzing’s textiles business, which comprises of fiber offerings under the flagship TENCEL™ and LENZING™ ECOVERO™ brands. With decades of experience working with partners across the textile value chain, Kit Ping will continue to foster the development of Lenzing’s textile business through driving innovative fiber and application solutions for customers, and ultimately bring benefits to consumers. Prior to joining Lenzing, Kit Ping held several regional and global commercial and operational leadership roles at Coats Group, as well as more recently at Amann Group. Her experience will add value to Lenzing’s core business, affirming Lenzing’s dedication to driving a positive impact across the industry ecosystem.
From 1 July 2024 onward, Florian Heubrandner will focus on driving the strategy and expansion of Lenzing’s filament business with his established expertise in the value chain. He will work alongside Lenzing’s Research and Development and Engineering teams to establish filament as a separate business with a strong focus on innovation and growth.
The Supervisory Board of Lenzing Group has appointed Rohit Aggarwal as a new member of the Management Board of Lenzing Group. He will assume responsibility for the fiber division during the third quarter. After the departure of Stephan Sielaff, Aggarwal will take over the position of CEO of Lenzing Group.
Rohit Aggarwal has a sound understanding of the strategic development of international markets and the establishment of efficient management teams through global management positions in Europe, the USA and Asia. Thanks to his experience in the global textile and fiber market, he is well versed with Lenzing's core business in all its facets, both in terms of content and geography.
Stephan Sielaff, CEO of Lenzing Group, will leave the company at the latest when his contract expires at the end of March 2025 and devote himself to new tasks.
Lenzing AG
The Lenzing Group learned that Lenzing's main shareholder B&C Group and the Brazilian pulp producer Suzano S/A have signed a long-term partnership in connection with the majority stake in Lenzing. As part of this agreement, Suzano S/A will take over a 15 percent stake in Lenzing AG from B&C Group. Suzano is the world's largest pulp producer based in Sao Paolo and recently achieved annual sales of more than EUR 7 billion.
Lenzing's management welcomes the proposed transaction and looks forward working with another core shareholder.
Lenzing AG
Bild Lenzing AG
Die Lenzing Gruppe ist eine Partnerschaft mit dem Technologie-Start-up Exponent Envirotech eingegangen, um die wasserlose Färbetechnologie ECOHUES für holzbasierte Cellulosefasern einzuführen. Diese Methode stellt eine mögliche Alternative zu herkömmlichen wasserbasierten Färbemethoden dar und eignet sich sowohl für Baumwoll- als auch für Leinenfasern. Im Rahmen der Zusammenarbeit mit Lenzing wird ECOHUES erstmals bei Cellulosefasern eingesetzt, nämlich bei Lyocell- und Modalfasern der Marke TENCEL sowie bei den Viscosefasern der Marke LENZINGECOVERO, die mit dem EU-Ecolabel für herausragende Umweltleistung zertifiziert sind. Dritter im Bunde ist der in Hongkong ansässige innovative Strickwarenhersteller Cobalt Fashion. Zusammen wollen die drei Unternehmen diesen wissenschaftlichen Durchbruch nun im Mainstream-Textilmarkt etablieren.
Bei traditionellen Färbeverfahren werden pro Tonne Garn 120 Tonnen Wasser benötigt. Diese Verfahren umfassen die Vorbehandlung, das wasserbasierte Färben, das anschließende Waschen und die Fixierung und Nachbehandlung, wobei zahlreiche Chemikalien zum Einsatz kommen. Die ECOHUES-Technologie ersetzt das Wasser im Färbeprozess durch ein nichtwässriges Lösungsmittel, das zu 99,8 Prozent wiederverwendbar ist. Auch die Vor- und Nachbehandlungsphasen werden optimiert, da die neue Technologie die Seifenwäsche nach dem Färben nahezu überflüssig macht. Damit verringert sich der Gesamtwasserverbrauch im Vergleich zu herkömmlichen Färbemethoden um 95 Prozent. Das vereinfachte Verfahren senkt nicht nur den Wasser- und Energieverbrauch, sondern fördert auch die Kosteneffizienz und Produktionseffizienz, in dem es den üblicherweise 12 Stunden dauernden Färbeprozess auf 6 bis 8 Stunden reduziert.
Während sich die ECOHUES -Technologie in nahezu allen Segmenten anwenden lässt, unter anderem bei Unterwäsche, Konfektionsware, Activewear und Schuhen, in denen Cellulosefasern häufig zum Einsatz kommen, wurde im Rahmen dieser Zusammenarbeit entschieden, die Vorteile der neuen Technologie anhand von Strickwaren deutlich zu machen. Die Garne, die in der Strickwarenkollektion von Cobalt Fashion verwendet wurden, wurden aus Lenzing-Fasern hergestellt, die mit der ECOHUES -Technologie gefärbt wurden.
Lenzing AG
(c) Wiener Börse AG/APA-Fotoservice/Daniel Hinterramskogler/Ludwig Schedl
The Lenzing Group once again received the Austrian sustainability award for top listed companies, the Vienna Stock Exchange VÖNIX Sustainability Award. Lenzing takes the first place in the ‘Industrials’ category. The award honours those companies that stand out on the capital market with their sustainability performance. According to the VBV (Austrian Sustainability Index), which is the sustainability benchmark of the Austrian stock market, the Lenzing Group achieved the best score in its category.
Other environmental organisations and rating agencies have also already testified to Lenzing's efforts in the area of sustainability and the transformation to a circular economy: For the third year in a row, Lenzing received a place on the annual ‘A list’ in all categories of the global non-profit environmental organisation CDP. This makes Lenzing one of only ten companies worldwide to receive a triple ‘A’ - out of over 21,000 companies assessed. Lenzing was also once again awarded platinum status in the EcoVadis CSR rating. This puts Lenzing in the top one per cent of companies rated by EcoVadis. MSCI awarded Lenzing an ‘AA’ rating for the third time in a row, placing the company among the top eight per cent of rated companies in its peer group.
Lenzing AG
For the third time, Lenzing is presenting the Young Scientist Award at the Dornbin Global Fiber Congress (GFC) from 11 to 13 September 2024 for bachelor and master students who are working on innovative solutions to ecological challenges in the fiber and textile industry. The application deadline is 30 June 2024 and the winning project will receive prize money of EUR 5,000.
Bachelor's and master's degree students can submit their scientific work in the categories “Fashion and Circular Economy”, “Alternative Raw Materials” and “Textile Recycling" as well as in the field of “New Fiber Technologies” and face a jury of renowned experts from the industry. The aim is to promote students who inspire the industry with their research results and to create a platform for networking with the textile and fiber industry.
Lenzing AG
On Thursday, April 18, 2024, the 80th Annual General Meeting of Lenzing AG discharged the members of the Managing Board and the Supervisory Board for the 2023 financial year and set the remuneration of the members of the Supervisory Board for the 2024 financial year in advance.
Dr. Markus Fürst retired from the Supervisory Board at his own request with effect from the end of the General Meeting. Dr. Markus Fürst has been a member of the Supervisory Board and various committees of Lenzing AG since 2021.
The General Meeting elected Dr. Cornelius Baur as a new member of the Supervisory Board of Lenzing AG until the end of the General Meeting that decides on the discharge for the 2028 financial year. In addition, Melody Harris-Jensbach’s mandate was extended until the Annual General Meeting that decides on the 2028 financial year.
The Supervisory Board of Lenzing AG continues to consist of ten members elected by the Annual General Meeting: Dr. Cornelius Baur, Mag. Helmut Bernkopf, Dr. Christian Bruch, Dr. Stefan Fida, Dr. Franz Gasselsberger, Melody Harris-Jensbach, Cord Prinzhorn, MBA, Mag. Gerhard Schwartz, Dr. Astrid Skala-Kuhmann and Nicole van der Elst Desai. DI Stefan Ertl, Stephan Gruber, Bonita Haag, Helmut Kirchmair and Johann Schernberger were delegated to the Supervisory Board by the works council.
In the constitutive meeting of the Supervisory Board following the Annual General Meeting, Cord Prinzhorn, MBA, was elected Chairman and Dr. Stefan Fida was re-elected as Deputy Chairman of the Supervisory Board.
KPMG Austria GmbH Wirtschaftsprüfungs- u. Steuerberatungsgesellschaft was appointed as the auditor for the annual financial statements and the consolidated financial statements for the 2024 financial year.
Lenzing AG
(c) Bickel & Company
The Supervisory Board of Lenzing AG appointed Dr. Walter Bickel as a member of the Managing Board and Chief Transformation Officer of Lenzing AG with effect from April 15, 2024 until December 31, 2025. The experienced manager will strengthen the Lenzing Managing Board and will be responsible for the further development and implementation of the performance program. Lenzing AG’s existing performance program was successfully initiated by the Managing Board in autumn 2023 and focuses on positive free cash flow, strengthened sales and margin growth, and sustainable cost excellence. The appointment of a separate member of the Managing Board for the performance program underlines its importance for the economic recovery of Lenzing AG and will make a significant contribution to achieving the goals. In addition, this ensures that the existing Managing Board can devote all the necessary resources to its core tasks in sales, operations and finances.
Dr. Walter Bickel is an expert in implementing yield increase programs. He has decades of leadership experience in management consulting and in leading positions in industrial companies. As a member of top management, he has successfully supported comprehensive performance programs at companies such as KUKA, Treofan and Syntegon. At Lenzing, Walter Bickel will further advance and accelerate the performance program, which has already made important contributions to improving earnings, and tap into additional performance improvement potential aiming for a significant sustainable increase of Lenzing’s earning power and competitiveness.
Lenzing AG
The Managing Board of Lenzing AG decided today to suspend the existing dividend policy of at least EUR 4.50 per share for an unlimited period of time.
Lenzing AG continues to expect higher EBITDA for the 2024 financial year compared to the previous year.
Lenzing AG
(c) UN Nations
The Lenzing Group has created an innovative concept that contributes to the sustainable protection of our glaciers while inspiring collective action for sustainable practices and a circular economy in the nonwovens and textile value chain. The concept, which was artistically staged by the Italian artist Michelangelo Pistoletto, was presented on March 21, 2024, as part of the International Day of Forests celebrations at the Palais des Nations, the headquarters of the United Nations Office at Geneva (UNOG).
The melting of glaciers is being severely impacted by global warming. Geotextiles are used to protect ice and snow. However, the nonwovens used for this are made of fossil-based fibers, which allow microplastics1 to enter the valley via streams and may enter the food chain through small organisms and animals. Nonwovens made from cellulosic LENZING™ fibers, which are biodegradable at the end of their life cycle and can be completely recycled, are the sustainable solution to this problem.
The covering of a small area with the new material made from LENZING™ fibers was tested for the first time during a field test on the Stubai Glacier. Four meters of ice were saved from melting. This was confirmed in a study conducted by the University of Innsbruck and the Austrian glacier lift operators on the Stubai Glacier in Tyrol (Austria). In 2023, the pilot project was successfully extended to all Austrian glaciers used by tourists.
Last year, the project was also awarded first place in the prestigious Swiss BIO TOP Awards for wood and material innovations.
Lenzing takes this innovation project as an opportunity to inspire collaborative action towards sustainable practices and circularity in the textile value chain. Together with a network of innovative partners, Lenzing is working on processing geotextiles into new textile fibers giving them a second life as a garment. The use of geotextiles is usually limited to two years, after which the nonwovens would be disposed of. In the first phase of the pilot project, the recycling of nonwovens made for geotextiles use has been successfully tested and a fashionable “Glacier Jacket” has been produced, showcasing that the recycling of geotextiles is viable. Next to Lenzing, the network includes Marchi & Fildi Spa, a specialist in the field of mechanical recycling, the denim fabric manufacturer Candiani Denim and the fashion studio Blue of a Kind.
Lenzing AG
The Lenzing Group has published a combined annual and sustainability report for the first time, reaffirming the strategic importance of social and environmental responsibility for the company. With the title “Ready to join?”, Lenzing would like to extend an invitation to all customers and partners to join forces to renew the textile and nonwovens industries and bring about positive change.
“This annual and sustainability report is also an invitation to find answers together. Lenzing is working tirelessly to make the industries in which it operates even more sustainable and to drive the transformation of the textile business model from linear to circular. For this transformation to be successful, further efforts by the entire industry and a policy designed to ensure a level playing field for sustainability pioneers are needed,” says Stephan Sielaff, CEO of the Lenzing Group.
The results for the 2023 financial year were already published. The report was once again prepared in digital form and is now available.
Lenzing AG
The Lenzing Group has updated its climate targets to align with the goals of the Paris Agreement to limit the human-induced global temperature increase to 1.5 degrees Celsius. The Science Based Targets Initiative (SBTi) has reviewed and confirmed this target improvement.
By 2030, Lenzing aims to reduce its direct emissions from the production of its fiber and pulp plants (scope 1) and its emissions from purchased energy (scope 2) by 42 percent and its indirect emissions along the value chain (scope 3) by 25 percent on the way to net zero, from 2021 baseline. This corresponds to an absolute reduction of 1,100,000 tons (instead of the previously targeted 700,000 tons).
The following targets were recognized and confirmed by the SBTi:
These updated targets replace the old SBTi approved Lenzing Group’s climate target in 2019.
Lenzing AG
The annual valuation of assets in accordance with IFRS for the entire Lenzing Group both nationally in Austria and internationally, has resulted in a projected asset impairment of up to EUR 480 million for the 2023 financial year.1 The reasons for the impairment requirements are, on the one hand, continued uncertainties in the economic environment and, on the other hand, still increased raw material and energy costs as well as a higher interest rate environment.
The impairment losses are non-cash effective and have no impact on the full-year EBITDA for 2023, but do affect EBIT for the 2023 financial year. The Managing Board is specifying the previous earnings forecast for the 2023 financial year (EBITDA: EUR 270 – 330 million) and expects an EBITDA of around EUR 300 million.
Stephan Sielaff, Chief Executive Officer of the Lenzing Group: “In the third quarter of 2023, we responded to the persistently difficult market environment and launched a comprehensive performance program, which we have been consistently implementing since then with a focus on positive free cash flow and stronger sales and margin growth. We can therefore confirm our earnings forecast with an EBITDA of around EUR 300 million. The valuation adjustment in accordance with IFRS does not change the strategic orientation of the Lenzing Group.”
Nico Reiner, Chief Financial Officer, adds: “The implementation of the performance program is going according to plan. In the future, cost measures alone are expected to contribute more than EUR 100 million to earnings annually, of which more than EUR 50 million will already be effective for the 2024 financial year. We are on target, particularly in terms of strengthening free cash flow, and we also achieved positive free cash flow in the fourth quarter. The revaluation of assets is now consistent and the right step for the future direction.”
The 2023 annual results will be presented on March 15, 2024.
1 Subject to potential changes resulting from the ongoing financial audit
Lenzing AG
(c) Lenzing AG
Die Lenzing Gruppe hat ein neues Verarbeitungsverfahren für Lyocellfasern der Marke TENCEL™ angekündigt, das speziell auf die Herstellung von Stretchstoffen ausgerichtet ist und für höheren Tragekomfort sorgt.
Beim neuen Verarbeitungsverfahren von Lenzing wird vorbehandeltes Gewebe aus TENCEL™ Lyocellfasern einem weiteren Überarbeitungsschritt unterzogen. Während der Nassverarbeitung nimmt der Durchmesser von TENCEL™ Lyocellfasern erheblich zu, was einen stärkeren Crimp des Garns in Schussrichtung zur Folge hat. So erhält man einen dehnbaren Stoff mit verbesserter Rücksprungfähigkeit1, der nicht leicht einläuft oder knittert und auch nach dem Waschen seinen glatten Look bewahrt2.
Die in den Stretchstoffen verwendeten TENCEL™ Lyocellfasern werden in einem ressourcensparenden geschlossenen Produktionskreislauf3 hergestellt, das verwendete Holz stammt aus kontrollierten oder zertifizierten Quellen. Somit stellen sie eine von fossilen Rohstoffen freie Alternative zu herkömmlichen synthetischen Materialien dar. Darüber hinaus lassen sich die Fasern im Endprodukt identifizieren und bis zu ihrem Ursprung zurückverfolgen, wodurch eine größere Verantwortung und Transparenz in der Lieferkette gewährleistet wird.
1 Daten aus dem SGS-Bericht Nr. SL12100263549701TX. Material: Stoffe aus 100% TENCEL™ Lyocell Ne30 x Ne30 / 98*74
2 Daten aus dem SGS-Bericht Nr. SL12200348946801TX: Material: Stoffe aus 100% LENZING™ Lyocell Ne50 x Ne50 / 116x75
3 Die Einsparungen berücksichtigen die Lösungsmittelrückgewinnung.
Lenzing AG
The Lenzing Group has once again been recognized for its sustainability performance and its active contribution to transforming the industry towards a circular economy. The rating agency MSCI awarded Lenzing an “AA” rating for the third time in a row, placing Lenzing among the top eight percent of rated companies in its peer group. In addition, Lenzing participated for the first time in the SAC Higgs FEM verification to assess the environmental impact of product manufacturing at its sites and achieved positive results.
According to the rating agency MSCI, Lenzing continues to lead the way among global companies in terms of governance structures. In addition, MSCI highlights Lenzing’s leadership in implementing initiatives to mitigate the risk of environmental liabilities associated with the release of toxic pollutants and highlights its water stewardship program, which includes a water risk assessment. The confirmation of the “AA” rating from MSCI ESG enables Lenzing to further reduce its interest expense. In November 2019, Lenzing placed a bonded loan in the amount of around EUR 500 mn, which is linked to the company's sustainability performance. In line with its commitment under the bonded loan, the company will donate the entire interest expense it saves thanks to the “AA” rating to a social-ecological project.
By November 2023, all Lenzing sites, with the exception of the sites in Brazil and Thailand, which are however scheduled for 2024, have completed the first external verification of the module with excellent results. With almost 20,000 participating companies from different sectors of industry, which achieved less than 50 percent in total average in 2023, Lenzing sites achieved verified scores of more than 70 percent to 95 percent.
Lenzing AG
(c) Lenzing Group
With the growing demand among brands and consumers for plastic-free materials and ingredient transparency, VEOCEL™, the flagship specialty nonwovens brand of Lenzing Group, showcased LENZING™ Lyocell Dry fiber at Hygienix 2023. LENZING™ Lyocell Dry fiber which is not classified as “plastic” according to EU SUPD, meets the growing interest for plastic-free nonwoven products across the industry and among consumers. Additionally, along with being an environment-friendly solution, the fiber delivers high-performance dryness and comfort which makes it the optimum fiber choice for absorbent hygiene applications.
Comprised of mostly fossil-based materials, absorbent hygiene products are an essential part of many consumers’ daily lives. With heightened concerns towards environmental impact, the product segment has been undergoing a change caused by shifting consumer preferences, increased consciousness and concerns towards plastic waste, and technology advancement. LENZING™ Lyocell Dry fiber has embraced these changes without compromising on quality or performance.
LENZING™ Lyocell Dry is a cellulosic environment-friendly wood-based alternative to fossil-based fibers. Besides offering great performance features such as liquid management, dryness, gentle-on-the-skin comfort, softness, and quality, LENZING™ Lyocell Dry helps to meet the needs of customers who are aiming to produce plastic-free applications or end products that do not harm the planet without compromising on performance or comfort.
Featuring Lenzing’s unique Dry technology, LENZING™ Lyocell Dry’s hydrophobic characteristics and liquid-controlling properties make it the ideal fiber for absorbent hygiene products. Its high-performing hydrophobicity makes it the optimal choice for a wide range of applications, including baby diapers, feminine care and personal hygiene products as well as adult incontinence products.
The fiber has consistently been tested by Lenzing as the softest* fiber among cellulosic fibers in both dry and wet stages. LENZING™ Lyocell Dry will enable brands and manufacturers to deliver quality hygiene products that provide a high level of comfort, softness, and dryness.
*Lenzing AG softness panel test
Lenzing Group
(c) Karl Michalski
HeiQ announces the appointment of Robert van de Kerkhof as Non-Executive Director, with effect from 1 January 2024 to the board of HeiQ plc and as Chairman of the Environmental, Occupation, Health & Safety and Sustainability Committee. Robert will also be appointed to the board of HeiQ AeoniQ Holding AG (in Switzerland), a subsidiary of HeiQ plc.
Robert van de Kerkhof has over 30 years of experience in general management and sustainability leadership and extensive knowledge of the textiles industry, including cellulosic fiber technology. He founded PEPPER-i2, an advisory company specializing in sustainability and circularity. Robert also serves as the Chief Sustainability Officer and as a Board Member of Lenzing AG, a position he has held since 2014. Robert will be leaving Lenzing and its Board on the 31st. December 2023.
Robert joins HEIQ AeoniQ™ with the firm belief that the novel HEIQ AeoniQ™ man-made cellulosic fibers (MMCF) are one of the most promising solutions to transform the textile industry, now the second-most polluting in the world, into one of the most sustainable, by rendering fossil fuel-based fibers like polyester obsolete.
Robert has also held senior positions as President of the Austrian Fiber Institute, President and Board Member of CIRFS – the European Man-made Fibres Association, and Chairman of the ReHubs Business Council for Euratex, which is the voice of the European Apparel and Textile Industry.
HeiQ
