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Oerlikon: Automatisiertes Schaben reduziert Fadenbrüche (c) Oerlikon
Oerlikon: Automatisiertes Schaben reduziert Fadenbrüche
05.03.2020

Oerlikon: Automated wiping reduces yarn breaks

Following its installation at several major yarn manufacturers in China, the first wiping robot has now been operating in India since the end of 2019. As already the case with our Chinese clients, the performance of the Oerlikon Barmag solution there demonstrates the same properties: an even, high-quality wiping process providing considerably reduced yarn break rates and higher full package rates. Regular wiping (cleaning) of the spin packs is important for process stability and yarn quality.

Following its installation at several major yarn manufacturers in China, the first wiping robot has now been operating in India since the end of 2019. As already the case with our Chinese clients, the performance of the Oerlikon Barmag solution there demonstrates the same properties: an even, high-quality wiping process providing considerably reduced yarn break rates and higher full package rates. Regular wiping (cleaning) of the spin packs is important for process stability and yarn quality.

The performance data at the Indian yarn manufacturer was collated and evaluated over a period of three months. The results revealed that the yarn break rate has – regardless of the product – fallen by almost 30%. The former running time breaks have decreased by 10% and string-up breaks by 40%. Consequently, full package rates have risen by 3%, while waste rates have fallen by 0.2%. “Yarn breaks are always an issue; they have a direct impact on the production figures. This is where the wiping robot reveals its added value”, comments Stephan Faulstich, Technology Manager POY. The system automatically and autonomously controls the individual positions in accordance with the scheduled wiping cycles. In addition to the scheduled wiping processes, there are also events that cannot be planned or that are not immediately visible. Here, the wiping robot – as a result of its management functionalities – is able to identify issues such as yarn breaks or parallel wiping processes and to independently offer solutions. The same also applies to manual requests: if another action is simultaneously required here, the system identifies this and offers solutions.

The wiping robot operates in a cross-line manner. In contrast to manual wiping, the cleaning quality remains constant around the clock, considerably reducing the impact of the wiping on both the spinning plant process stability and on the yarn data of the spun yarn. And production times can be increased between two cleaning cycles as well: whereas repeated wiping is required after 48 hours in the case of manual wiping, utilizing the robot extends the interval between two wiping processes to up to 60 hours. The considerable increase in the spinning process efficiency achieved by the wiping robot also has a positive impact on margins. To this end, one customer deploying the wiping robot was able to reduce its production costs for the same yarn by more than 3%.

More information:
Oerlikon Barmag
Source:

Oerlikon

Autoneum (c) autoneum
Autoneum
04.03.2020

Autoneum: Report on financial year 2019

Net result impacted by operating losses and high impairments in North America

In 2019, Autoneum grew organically by 2.5% and has thereby significantly outperformed the declining market. In Swiss francs, revenue rose slightly to CHF 2 297.4 million. However, as previously communicated, operational inefficiencies in North America and impairments on fixed assets in that region had a particularly strong impact on profitability and led to a net loss of CHF –77.7 million. The Board of Directors therefore proposes that no dividend bedistributed for the 2019 financial year. Based on the new turnaround program launched in North America at the beginning of this year, significant profitability increases are expected for 2020.

Net result impacted by operating losses and high impairments in North America

In 2019, Autoneum grew organically by 2.5% and has thereby significantly outperformed the declining market. In Swiss francs, revenue rose slightly to CHF 2 297.4 million. However, as previously communicated, operational inefficiencies in North America and impairments on fixed assets in that region had a particularly strong impact on profitability and led to a net loss of CHF –77.7 million. The Board of Directors therefore proposes that no dividend bedistributed for the 2019 financial year. Based on the new turnaround program launched in North America at the beginning of this year, significant profitability increases are expected for 2020.

2019 was an extremely challenging year for the automobile industry. The continuing weakness of the global economy, ongoing trade disputes and the increasing regulation of mobility impacted vehicle demand negatively. But 2019 was also a year of change for Autoneum internally. An in-depth analysis carried out by the new Group Management in the fall showed a need to reevaluate the Group’s performance over the short- to medium-term. In Business Group North America, the operational and commercial problems have proven more extensive than originally assumed. As a result, the turnaround program launched in spring 2019 was replaced at the beginning of 2020 with a dedicated and far more comprehensive program for the North American sites.

Revenue growth despite a shrinking global market
As a result of weak demand, the number of light vehicles produced worldwide fell again sharply in 2019 compared to the previous year; whereby the decline of almost –6% was much steeper than in 2018. Thanks to numerous production ramp-ups and a favorable model portfolio, Autoneum generated organic revenue growth1 of 2.5%, despite the global market cooling. Revenue consolidated in Swiss francs rose by 0.7% from CHF 2 281.5 million to CHF 2 297.4 million.

Profitability2 impacted by operational inefficiencies and impairments
Operational inefficiencies in North America and impairments on fixed assets in this region were the main reason for the – first-ever – negative net result in 2019. In addition, the sharp drop in automobile production in Europe and China as well as associated lower utilization of production capacities in the affected Business Groups also burdened the Group’s profitability. EBITDA excluding IFRS 16 effects decreased to CHF 126.0 million (2018: CHF 197.2 million), which corresponds to an EBITDA margin of 5.5% (2018: 8.6%). One-time charges from impairments in the amount of CHF –68.0 million had a negative impact on EBIT, reducing it to CHF –32.9 million (2018: CHF 114.1 million). Without these one-time charges, EBIT amounted to CHF 35.0 million. The EBIT margin 1 Change in revenue in local currencies, adjusted for hyperinflation. 2 The figures for the 2019 financial year include IFRS 16 effects. Autoneum Management Ltd . Media Release . March 4, 2020 Page 2/5 excluding impairments was at 1.5% in 2019, and taking those into account the margin decreased to –1.4% (2018: 5.0%).

 

More information:
Autoneum
Source:

autoneum

26.02.2020

Lenzing Management Board proposes dividend of EUR 1.00

The Management Board of Lenzing AG, a leading manufacturer of specialty fibers made from the renewable raw material wood, has resolved to propose to the Annual General Meeting a dividend of EUR 1.00 for the 2019 financial year. This dividend proposal reflects the large investments in the growth projects in Thailand and Brazil.

The total dividend payout to shareholders will amount to about EUR 26.6 mn, subject to the acceptance of the proposal by the Supervisory Board at its meeting scheduled for March 11, 2020 for the purpose of approving the consolidated financial statements as well as the approval granted by Lenzing AG shareholders at the Annual General Meeting on April 16, 2020.

The Management Board of Lenzing AG, a leading manufacturer of specialty fibers made from the renewable raw material wood, has resolved to propose to the Annual General Meeting a dividend of EUR 1.00 for the 2019 financial year. This dividend proposal reflects the large investments in the growth projects in Thailand and Brazil.

The total dividend payout to shareholders will amount to about EUR 26.6 mn, subject to the acceptance of the proposal by the Supervisory Board at its meeting scheduled for March 11, 2020 for the purpose of approving the consolidated financial statements as well as the approval granted by Lenzing AG shareholders at the Annual General Meeting on April 16, 2020.

More information:
Lenzing AG
Source:

Lenzing AG

The Archroma site in Tianjin, China, has been named ‘Green Factory’ by the Tianjin Bureau of Industry and Information Technology (c) Archroma
The Archroma site in Tianjin, China, has been named ‘Green Factory’ by the Tianjin Bureau of Industry and Information Technology
26.02.2020

ARCHROMA TIANJIN NAMED ‘GREEN FACTORY’ BY TIANJIN AUTHORITIES

Archroma, a global leader in color and specialty chemicals towards sustainable solutions, today announced that its affiliate in Tianjin, China, has been named ‘Green Factory’ by the Tianjin authorities. The nomination was granted as of January 1st, 2020, following an evaluation process conducted under the authority of the Tianjin Bureau of Industry and Information Technology, which selected 56 other companies only to receive that same distinction.

The ‘Green Factory’ list comprises companies comprehensively evaluated and scored against 92 indicators, in areas such as site intensification, production cleanliness, energy consumption efficiency, raw material recycling, environmental impact, product ecological profile, and carbon footprint. The initiative takes place in the wider framework of fostering ‘Green manufacturing’, one of the nine strategic objectives defined by the Chinese Authorities under the ‘Made in China 2025’ plan, which led to the Industrial Green Development Plan published by The Ministry of Industry And Information Technology in 2016.

Archroma, a global leader in color and specialty chemicals towards sustainable solutions, today announced that its affiliate in Tianjin, China, has been named ‘Green Factory’ by the Tianjin authorities. The nomination was granted as of January 1st, 2020, following an evaluation process conducted under the authority of the Tianjin Bureau of Industry and Information Technology, which selected 56 other companies only to receive that same distinction.

The ‘Green Factory’ list comprises companies comprehensively evaluated and scored against 92 indicators, in areas such as site intensification, production cleanliness, energy consumption efficiency, raw material recycling, environmental impact, product ecological profile, and carbon footprint. The initiative takes place in the wider framework of fostering ‘Green manufacturing’, one of the nine strategic objectives defined by the Chinese Authorities under the ‘Made in China 2025’ plan, which led to the Industrial Green Development Plan published by The Ministry of Industry And Information Technology in 2016.

The production site in Tianjin is fully integrated into the Archroma Management System and was externally certified to ISO 9001. In the preparational system upgrade, additional external certifications to ISO 14001, ISO 50001 and OHSAS 18001 were completed in November 2019. Commitments to the United Nations Global Compact and Responsible Care® are complementing the local framework.

More information:
Archroma Green Factory
Source:

EMG for Archroma

Stephan Sielaff and Christian Skilich appointed to the Management Board of the Lenzing Group
Stephan Sielaff and Christian Skilich appointed to the Management Board of the Lenzing Group
21.02.2020

Stephan Sielaff and Christian Skilich appointed to the Management Board of the Lenzing Group

Lenzing expands its Management Board, naming a new CTO and an additional Management Board member for “Pulp and Wood Raw Materials”

The Supervisory Board of Lenzing AG, the world’s leading producer of botanic cellulose fibers, has appointed two new members to the company’s Management Board. Stephan Sielaff will serve as the new Chief Technology Officer effective March 1, 2020, succeeding Heiko Arnold, who left the Lenzing Group in November 2019. At the same time, Lenzing’s highest management body led by Chairman Stefan Doboczky will be expanded to include a newly created Management Board position for “Pulp and Wood Raw Materials” and will thus consist of five members instead of four. Christian Skilich will assume the position of Member of the Management Board for Pulp and Wood Raw Materials as at June 1, 2020.

“In the coming years our focus will be on achieving the strategic target of strongly increasing our own supply of pulp in line with our corporate strategy sCore TEN. By creating this new division, the composition of the Management Board now also reflects this focus”, says Peter Edelmann, Chairman of the Supervisory Board of Lenzing AG.

Lenzing expands its Management Board, naming a new CTO and an additional Management Board member for “Pulp and Wood Raw Materials”

The Supervisory Board of Lenzing AG, the world’s leading producer of botanic cellulose fibers, has appointed two new members to the company’s Management Board. Stephan Sielaff will serve as the new Chief Technology Officer effective March 1, 2020, succeeding Heiko Arnold, who left the Lenzing Group in November 2019. At the same time, Lenzing’s highest management body led by Chairman Stefan Doboczky will be expanded to include a newly created Management Board position for “Pulp and Wood Raw Materials” and will thus consist of five members instead of four. Christian Skilich will assume the position of Member of the Management Board for Pulp and Wood Raw Materials as at June 1, 2020.

“In the coming years our focus will be on achieving the strategic target of strongly increasing our own supply of pulp in line with our corporate strategy sCore TEN. By creating this new division, the composition of the Management Board now also reflects this focus”, says Peter Edelmann, Chairman of the Supervisory Board of Lenzing AG.

Stephan Sielaff is a chemical engineer who gained experience in the chemical industry in the years 1993 to 2014, holding various management positions for Unilever and Symrise. Since 2014, he has worked for the Swiss specialty chemicals company Archroma, an important supplier of the textile and paper industry, as a Member of the Board of Directors and Chief Operating Officer (COO).He has been responsible for forming the integrated operational structure and the strategic development of the company.

Christian Skilich, who will assume management responsibility for the new Pulp and Wood Raw Materials Division in the Lenzing Group, boasts outstanding expertise in the field of paper and pulp technology. With a Master of Science in Paper Technology and Engineering & Economics, he first held various positions in the paper, packaging and glass industries. Since 2004, he has worked in a broad range of management areas on behalf of the internationally operating Mondi Group. Christian Skilich most recently served as Chief Operating Officer on Mondi’s Board of Directors, overseeing projects in the USA and Europe.

More information:
Lenzing AG
Source:

Lenzing AG

Oerlikon Nonwoven at the INDEX in Geneva (c) Oerlikon
Oerlikon Nonwoven at the INDEX in Geneva
21.02.2020

Oerlikon Nonwoven at the INDEX in Geneva

For the sixth time now, Oerlikon Nonwoven will be showcasing market- and customer-oriented solutions for hygiene, medical, filtration and other technical applications at the globally-leading nonwovens trade fair INDEX in Geneva, Switzerland. Between March 31 and April 3, 2020, visitors to the trade fair can convince themselves of the Neumünsterbased systems constructor’s extensive product and process know-how.

Comprehensive spunbond portfolio – always the right solution
Oerlikon Nonwoven meanwhile has a very broad range of spunbond technology products and services. The process for manufacturing geotextiles from polyester or polypropylene has been optimized; it is characterized by high production capacities and yields, with simultaneously low energy consumption for producing benchmark nonwoven products.

For the sixth time now, Oerlikon Nonwoven will be showcasing market- and customer-oriented solutions for hygiene, medical, filtration and other technical applications at the globally-leading nonwovens trade fair INDEX in Geneva, Switzerland. Between March 31 and April 3, 2020, visitors to the trade fair can convince themselves of the Neumünsterbased systems constructor’s extensive product and process know-how.

Comprehensive spunbond portfolio – always the right solution
Oerlikon Nonwoven meanwhile has a very broad range of spunbond technology products and services. The process for manufacturing geotextiles from polyester or polypropylene has been optimized; it is characterized by high production capacities and yields, with simultaneously low energy consumption for producing benchmark nonwoven products.

For the manufacture of hygiene nonwovens, Oerlikon Nonwoven offers its new QSR (Quality Sized Right) systems. Here, the benefits of the Chinese machine construction partner’s nonwoven formation are integrated into the complete solution. The advantage for nonwovens producers: highly competitive solutions at attractive prices with comparably low investment.

Cost-efficiently manufacturing meltblown nonwovens
New, unique and highly sophisticated filter media can be easily and efficiently manufactured thanks to Oerlikon Nonwoven’s optimized meltblown technology. Whether as a stand-alone system with one or several positions, as ‘plug & produce’ installations for already existing systems or in conjunction with other technologies: the Oerlikon Nonwoven meltblown process already enables the cost-efficient manufacture of meltblown nonwovens with the quality requirements of tomorrow. Ever more producers are choosing the meanwhile extensively tried-and-tested and consistently further-developed Oerlikon Nonwoven meltblown solutions.

Airlaid technology for the nonwovens of tomorrow
Pulp or cellulose fibers as raw material for manufacturing nonwovens are currently virtually unrivaled with regards to sustainability and environmental compatibility. The Oerlikon Nonwoven airlaid process is the ideal solution for processing this raw material into high-end products for a wide range of applications. Today, there is huge demand for manufacturing solutions for high-quality, lightweight airlaid nonwovens with economically attractive production speeds and system throughputs. In this area, the patented Oerlikon Nonwoven formation process – which also permits the homogeneous mixing of the most diverse raw materials, while simultaneously guaranteeing superb evenness and homogeneous fiber laying – is setting standards even for nonwovens with low running meter weights. And the benefits of this technology are also increasingly gaining significance in sustainable recycling applications.

P&G patented PHANTOM technology from Teknoweb Materials
Also being showcased at the trade fair stand is the P&G patented PHANTOM technology from Teknoweb Materials, Oerlikon Nonwoven’s strategic partner for hygiene products and wipes. The PHANTOM technology is released to Teknoweb Materials by P&G in worldwide exclusive license. The PHANTOM technology is the superior dry laid alternative technology for manufacturing wet wipes from pulp and polymer fibers, for example. Compared to conventional, known processes, this technology offers superior performances with cost advantage in much more eco-friendly products. Dispensing with hydroentanglement renders subsequent drying of the material redundant. Targeted process management allows the optimal setting of the relevant product parameters such as softness, tenacity, dirt absorption and liquid absorption.

More information:
Oerlikon
Source:

Oerlikon

EuroShop 2020: High Degree of Internationality Photo: Messe Düsseldorf / ctillmann
EuroShop 2020: High Degree of Internationality
20.02.2020

EuroShop 2020: High Degree of Internationality confirms Global Leading Function for Retail

Retailers invest in emotionalisation and digitalisation +++ Top theme: linking online with offline shopping +++ Focus on sustainability +++ Accompanying Stages and Specials received very well

The World’s No.1 Retail Trade Fair, EuroShop 2020, drew to a close on Thursday (20 February 2020) after five successful days in Düsseldorf: 2,300 exhibitors from 57 nations reported of very good leads and concluded business deals. Furthermore, lively follow-up business is expected. 94,000 visitors travelled to the Rhine to gather information on the line-up of products, trends and concepts for retailers and their partners featured in 16 exhibition halls.  

“We are delighted that EuroShop once again successfully proved to be the most relevant platform for the global retail community when it comes to trends, inspirations and networking. Our exhibitors deserve the highest praise for their loyalty. With their innovative power they again proved the major attraction for an entire industry,” said Erhard Wienkamp, Managing Director at Messe Düsseldorf, voicing his great satisfaction with EuroShop 2020 results.

Retailers invest in emotionalisation and digitalisation +++ Top theme: linking online with offline shopping +++ Focus on sustainability +++ Accompanying Stages and Specials received very well

The World’s No.1 Retail Trade Fair, EuroShop 2020, drew to a close on Thursday (20 February 2020) after five successful days in Düsseldorf: 2,300 exhibitors from 57 nations reported of very good leads and concluded business deals. Furthermore, lively follow-up business is expected. 94,000 visitors travelled to the Rhine to gather information on the line-up of products, trends and concepts for retailers and their partners featured in 16 exhibition halls.  

“We are delighted that EuroShop once again successfully proved to be the most relevant platform for the global retail community when it comes to trends, inspirations and networking. Our exhibitors deserve the highest praise for their loyalty. With their innovative power they again proved the major attraction for an entire industry,” said Erhard Wienkamp, Managing Director at Messe Düsseldorf, voicing his great satisfaction with EuroShop 2020 results.

Exhibitors especially applauded the high international attendance at EuroShop. 70% of the EuroShop audience travelled to Düsseldorf from abroad. Large delegations came for example from Brazil, Australia and New Zealand. Trade visitors from a total of 142 countries attended EuroShop 2020.

“This high level of international interest clearly documents the dynamism of the global retail world and the exceptional position EuroShop enjoys as its economic engine,” said Michael Gerling, Chairman of the EuroShop Advisory Board and CEO of the EHI Retail Institute Cologne.

“The success of eCommerce is a real encouragement for retailers: they have understood they have to give their shoppers good reasons beyond the ranges to enter their stores. This competition has taken retail as a whole to the next quality level. Investment is being made in shop fitting so as to create customer journeys,” explains Gerling who adds: “Beyond this, retail digitalisation is booming. It enables retailers to offer their shoppers even more services and link online and offline channels, on the one hand, while simplifying process flows, logistics and lots more, on the other.” At EuroShop 2020 digital transformation was therefore a key focus, also in terms of achieving the highest energy efficiency and sustainability possible.

Exhibitors underlined the high level of expertise among visitors at the event, especially their pronounced decision-making powers, because 70% of the trade fair guests were in international top management. Many of them also used their visit to EuroShop to learn about best practice cases and forward-looking trends in retail at the in total eight Stages. The varied programme of lectures held on the individual Stages on such topics as Retail Technology, Architecture and Store Design or Expo & Event was well attended across the board. Meeting with the same high level of approval were the numerous Specials at EuroShop, including the Start-up Hub, the Designer Village and Premium City.

Numbers speak for themselves here: 96% of trade fair visitors were satisfied with their visit to the trade fair. Just as many confirmed the outstanding position of EuroShop as a trend barometer, networking platform and largest event for the retail sectors.

Due to the current situation associated with the Coronavirus 19.000 visitors less attended this time than at the record event 2017.

The next EuroShop will be held in Düsseldorf from 26 February to 2 March 2023.  

Ascend to purchase compounding and masterbatch businesses of Poliblend and Esseti Plast. (c) Ascend Performance Materials, APMPR041
Ascend to purchase compounding and masterbatch businesses of Poliblend and Esseti Plast.
13.02.2020

Ascend to purchase compounding and masterbatch businesses of Poliblend and Esseti Plast

Ascend Performance Materials, the largest fully integrated producer of polyamide 66 resin, announced today it signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA66, PA6, PBT and POM.

Poliblend offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949.

Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.

Ascend Performance Materials, the largest fully integrated producer of polyamide 66 resin, announced today it signed an agreement to purchase Poliblend and Esseti Plast GD from D’Ottavio Group. The acquisition includes a manufacturing facility in Mozzate, Italy, the masterbatch portfolio of Esseti Plast GD and the engineering plastics portfolio of Poliblend, which consists of virgin and recycled grades of PA66, PA6, PBT and POM.

Poliblend offers compounding and masterbatch services, including color and additive concentrates that enhance the appeal and end-use performance of plastics products, packaging and fibers. Its certifications include ISO 9001, ISO 14001 and ISO TS 16949.

Giancarlo D’Ottavio, Poliblend’s president, will continue to run Poliblend’s operations and join Ascend’s European management team. Terms of the transaction were not disclosed. The acquisition is expected to close in the second quarter.

Source:

EMG

Bremer Baumwollbörse, Bremer Rathaus (c) Bremen Cotton Exchange
Bremer Baumwollbörse, Bremer Rathaus
10.02.2020

International Cotton Conference Bremen 2020: keynotes

Focus on Sustainability and Climate Change

Passion for Cotton: The 35th International Cotton Conference Bremen starts on 25 March in the Hanseatic city’s historic Town Hall. But before subject-specific questions are discussed in depth in the individual sessions, the concise and inspiring keynotes by leading business experts from science and industry will draw attention to the current trends and challenges in the industry at the start of the conference. A large part of the presentations is shaped by the current discussion on environmental and sustainability issues and the resulting consequences for the global economy.

Climate Change and Sustainability

“Climate change - a storm in a teacup?” asks Kai Hughes, Executive Director of the International Cotton Advisory Committee, Washington D.C., USA, in a provocative speech. The aim of his presentation is to work out the challenges of climate change especially for agriculture and cotton production. This should form the basis for later discussion on concrete approaches and solutions within the cotton community.

Focus on Sustainability and Climate Change

Passion for Cotton: The 35th International Cotton Conference Bremen starts on 25 March in the Hanseatic city’s historic Town Hall. But before subject-specific questions are discussed in depth in the individual sessions, the concise and inspiring keynotes by leading business experts from science and industry will draw attention to the current trends and challenges in the industry at the start of the conference. A large part of the presentations is shaped by the current discussion on environmental and sustainability issues and the resulting consequences for the global economy.

Climate Change and Sustainability

“Climate change - a storm in a teacup?” asks Kai Hughes, Executive Director of the International Cotton Advisory Committee, Washington D.C., USA, in a provocative speech. The aim of his presentation is to work out the challenges of climate change especially for agriculture and cotton production. This should form the basis for later discussion on concrete approaches and solutions within the cotton community.

With his lecture “The HUGO BOSS sustainability programme ... and what our customer has to do with it” Andreas Streubig, Director of Global Sustainability at Hugo Boss AG, Metzingen, Germany, rolls up the textile value chain from a different angle, starting at the consumer level. As a representative of a premium brand for women's and men's clothing, Streubig discusses sustainability as a strategic element of the corporate strategy and provides information on how elements of the strategy are being implemented at Hugo Boss.

Rüdiger Senft, Head of Sustainability at Commerzbank, Frankfurt am Main, Germany, looks at the changing role of banks in financing the cotton market. In addition to a general introduction to the topic of sustainability and banking regulation, Senft's presentation deals with the financing of the cotton trade from a social and ecological point of view.
The opening session on 25 March is hosted by Bill Ballenden, founder and owner of Dragontree, Swindon, UK, an online auction platform for the cotton trade. As a former cotton manager for Louis Dreyfus in Europe and Asia, Bill Ballenden has many years of experience in the industry.

Cross-Cutting Issues: Digitalisation, Gender, Value Chains

The subsequent session in the conference programme with the headline “A Wider View” is devoted to currently defining trends and important cross-cutting issues in the industry. This goes far beyond classic cotton themes.

A lecture by Mark Messura, Senior Vice President, Global Supply Chain Marketing for Cotton Incorporated, Cary, North Carolina, deals with the role of cotton in an increasingly digitally controlled supply chain. Significant keywords here are faster delivery times, vertical integration, transparency and traceability.

The presentation by Roger Gilmartin, Managing Director of Tri-Blend Consulting, Charlotte, USA, entitled “The secret recipe for timely, cost-optimised and high-quality cotton clothing” promises exciting and enlightening insights. Tri-Blend Consulting conducts studies on the performance of different cotton varieties during the entire consumption process to the finished yarn and evaluates them from an economic point of view.

Amy Jackson, from the Better Cotton Initiative, London, UK, presents ICA Liverpool's “Women in Cotton” initiative. With this commitment, the initiative aims to increase the influence of women in the cotton industry and give them a stronger voice, for example by building networks in cooperation.

Navdeep Singh Sodhi, International Strategic Management Consultant at the Gherzi Textile Organisation, Switzerland, gives an insight into the current development of the value chain for cotton, textiles and clothing in Africa. Looking ahead to the coming decades, also in view of population growth, Africa is seen as having a high potential for building economic structures to improve income and prosperity.

Thomas Schneider, Professor at the University of Applied Sciences in Berlin and active in the field of production planning and control, textile materials and materials testing will host the session. A leading light in his field, Thomas Schneider has more than 30 years of experience in scientific and application-oriented research in the textile and fibre sector, including at the Fibre Institute Bremen e.V.

Source:

Bremer Baumwollbörse

Dr. Torsten Derr (c) SGL CARBON SE
Dr. Torsten Derr
10.02.2020

Dr. Torsten Derr to become new Chief Executive Officer of SGL Carbon SE

The Supervisory Board of SGL Carbon SE today appointed Dr. Torsten Derr as Chief Executive Officer of SGL Carbon SE for the duration of five years effective July 1, 2020. With this appointment, Dr. Derr is succeeding Dr. Jürgen Köhler, who resigned from his mandate as Chief Executive Officer of SGL Carbon SE effective August 31, 2019.  

Since 2016, Dr. Torsten Derr is holding the position of Managing Director of SALTIGO GmbH, a subsidiary of LANXESS AG. Following his master degree and attainment of his PhD in chemistry at the University of Bremen, Dr. Derr began his professional career 1997 at Bayer AG, and since 2003 at LANXESS AG, where he was Vice President for Plastic Intermediates, Head of the Business Units Material Protection Products and EDPM-Elastomers, as well as holding various other management functions, amongst others as Head of Commercial & Supply Chain Excellence & Chief Commercial Officer of LANXESS AG.

The Supervisory Board of SGL Carbon SE today appointed Dr. Torsten Derr as Chief Executive Officer of SGL Carbon SE for the duration of five years effective July 1, 2020. With this appointment, Dr. Derr is succeeding Dr. Jürgen Köhler, who resigned from his mandate as Chief Executive Officer of SGL Carbon SE effective August 31, 2019.  

Since 2016, Dr. Torsten Derr is holding the position of Managing Director of SALTIGO GmbH, a subsidiary of LANXESS AG. Following his master degree and attainment of his PhD in chemistry at the University of Bremen, Dr. Derr began his professional career 1997 at Bayer AG, and since 2003 at LANXESS AG, where he was Vice President for Plastic Intermediates, Head of the Business Units Material Protection Products and EDPM-Elastomers, as well as holding various other management functions, amongst others as Head of Commercial & Supply Chain Excellence & Chief Commercial Officer of LANXESS AG.

More information:
SGL Carbon
Source:

SGL CARBON SE

Automatisierte Qualitätskontrolle in der Produktion von Gasdiffusionsschichten für Brennstoffzellen bei der SGL Carbon in Meitingen (c) SGL Carbon
Automatisierte Qualitätskontrolle in der Produktion von Gasdiffusionsschichten für Brennstoffzellen bei der SGL Carbon in Meitingen
07.02.2020

SGL Carbon awarded by Hyundai as Supplier of the Year 2019

Automatized quality control of gas diffusion layers for fuel cells at SGL Carbon in Meitingen

  • One of only two awarded overseas suppliers
  • Long-term cooperation for a substantial production ramp-up

Mid of January SGL Carbon received the “Supplier of the Year 2019” award for excellence in quality management and contributions to strengthen the overall competitiveness of Hyundai Motor Group related to the manufacturing and supply of fuel cell components. The award is being granted by the Korean automaker once a year, evaluating several hundreds of suppliers from across the world in different categories. This time only two overseas suppliers have been awarded.

SGL Carbon and the Hyundai Motor Group have been cooperating on fuel cell technology for almost 20 years. Last year, the two companies agreed on an early extension to the existing supply agreement for SIGRACET® gas diffusion layers for the NEXO fuel cell car, encompassing a new long-term cooperation including a substantial ramp-up of the current production and supply volumes.

Automatized quality control of gas diffusion layers for fuel cells at SGL Carbon in Meitingen

  • One of only two awarded overseas suppliers
  • Long-term cooperation for a substantial production ramp-up

Mid of January SGL Carbon received the “Supplier of the Year 2019” award for excellence in quality management and contributions to strengthen the overall competitiveness of Hyundai Motor Group related to the manufacturing and supply of fuel cell components. The award is being granted by the Korean automaker once a year, evaluating several hundreds of suppliers from across the world in different categories. This time only two overseas suppliers have been awarded.

SGL Carbon and the Hyundai Motor Group have been cooperating on fuel cell technology for almost 20 years. Last year, the two companies agreed on an early extension to the existing supply agreement for SIGRACET® gas diffusion layers for the NEXO fuel cell car, encompassing a new long-term cooperation including a substantial ramp-up of the current production and supply volumes.

More information:
SGL Carbon Hyundai
Source:

SGL Carbon

SGL Carbon: Zahlen für 2019 und Prognose für das Jahr 2020
SGL Carbon: Zahlen für 2019 und Prognose für das Jahr 2020
31.01.2020

SGL Carbon: Numbers for 2019 und forecast for the year 2020

Within the framework of the preparations for the Group annual financial statements and based on preliminary results, SGL Carbon confirms its guidance for 2019 as revised in October 2019. Accordingly, the Company continues to expect Group sales between €1.05 and €1.1 billion and Group EBIT before extraordinary items between €45 and 50 million. In addition, net financial debt as of December 31, 2019 has also developed as expected, increasing by a mid double digit million € amount and thus remaining below the €300 million mark.

SGL Carbon also confirms the initial outlook for 2020 as presented in October 2019. Group sales is anticipated slightly below the 2019 level and Group EBIT before extraordinary items 10-15% below the 2019 level. To reflect the lower earnings expectations and within the context of a conservative free cash flow management, the Company will restrict capital expenditures to €70-80 million in 2020 (previous guidance: approximately €100 million) and thus approximately on the level of depreciation.

Within the framework of the preparations for the Group annual financial statements and based on preliminary results, SGL Carbon confirms its guidance for 2019 as revised in October 2019. Accordingly, the Company continues to expect Group sales between €1.05 and €1.1 billion and Group EBIT before extraordinary items between €45 and 50 million. In addition, net financial debt as of December 31, 2019 has also developed as expected, increasing by a mid double digit million € amount and thus remaining below the €300 million mark.

SGL Carbon also confirms the initial outlook for 2020 as presented in October 2019. Group sales is anticipated slightly below the 2019 level and Group EBIT before extraordinary items 10-15% below the 2019 level. To reflect the lower earnings expectations and within the context of a conservative free cash flow management, the Company will restrict capital expenditures to €70-80 million in 2020 (previous guidance: approximately €100 million) and thus approximately on the level of depreciation.

As usual, SGL Carbon will communicate further details on the guidance for 2020, particularly relating to the guidance on the level of the reporting segments, with the publication of the annual report 2019 on March 12, 2020.

The Company will also publish statements on the new mid-term plan on this date.

More information:
SGL Carbon
Source:

SGL Carbon

MANTECO Logo NEW GENERATION RECYCLED WOOL by MANTECO
MANTECO Logo
29.01.2020

Manteco presents The Manteco System

The integrated sustainable network making fashion circular, Made in Italy and 100% traceable

World leading textile manufacturer Manteco presents its sustainable path for a better future: The Manteco System. A strategy and a vision shaping the company’s sustainable imprint since 1943. The system consists in the development and engineering of a production network involving 100 partner-companies from the whole supply chain “We all team up responsibly to create premium collection based on transparent , traceable  circular economy practices,” comments Matteo Mantellassi, co-CEO of Manteco.
 
To achieve meeting the demand for fair and sustainable fashion that consumers believe in, and is expected  from our clients, the company and its partners have created and accomplished to a Protocol of Sustainable Values and Commitments in line with the highest standards of the global market.

The integrated sustainable network making fashion circular, Made in Italy and 100% traceable

World leading textile manufacturer Manteco presents its sustainable path for a better future: The Manteco System. A strategy and a vision shaping the company’s sustainable imprint since 1943. The system consists in the development and engineering of a production network involving 100 partner-companies from the whole supply chain “We all team up responsibly to create premium collection based on transparent , traceable  circular economy practices,” comments Matteo Mantellassi, co-CEO of Manteco.
 
To achieve meeting the demand for fair and sustainable fashion that consumers believe in, and is expected  from our clients, the company and its partners have created and accomplished to a Protocol of Sustainable Values and Commitments in line with the highest standards of the global market.

“On a hand, the protocol preserves the unique ‘genius loci’ of our territory – it respects the heritage of all our partners, from the smaller businesses to the more structured ones - on the other hand, it works like a shared compass of sustainable values, allowing the whole supply chain behind Manteco products to stand out and be competitive on the global stage” adds Mantellassi.
 
The protocol and its monitored and traceable system cover virtuous management of resources – e.g. Water, energy and chemical products - waste management and low production impact on the environment but also responsible standards in terms of employment, quality of the working environment, equal rights and anti-discrimination policies.

One of the key  results of such commitment and sustainable development is the creation of an upgraded version of the recycled wool  MWool™: a top ingredient made from premium recycled wool process guaranteed by the Manteco System.The System works like a symphony where management, measurement and controls  are not there just to test  the quality of each single phase of processes or  products , but to make sure and offer the complete traceability of Manteco production.  From raw material, to yarn, spinning, finishing, testing and final fabric.

Some productions tips about Manteco:

  •  5.3 million kg of raw materials processed annually.
  •  6.860 tests on raw material per year.
  •  34.400 tests on finished products.
  •  100% made in Italy system completely based in the Prato district since 1943.
  •  Total transparency and traceability thanks to a highly skilled management system.

With a turnover of over 91m Euro in 2019 and an annual growth of 17,80% since 2012, Manteco SpA is the 4th textile company in Italy, listed in the TOP30 companies of the Italian fashion system. “The unique Manteco system adds value to our products while highlighting the sustainable path we share with all our partners both upstream and downstream”.

More information:
Manteco
Source:

(c) GB Network

Rieter Report
Rieter Report
29.01.2020

Rieter: First Information on the Financial Year 2019

  • Sales were significantly down on the previous year, falling by 29% to CHF 760 million
  • EBIT margin of around 11% and net profit of around 7% of sales anticipated, non-recurring profit contribution from sale of real estate in Ingolstadt (Germany)
  • Order intake up 7% on previous year; order intake amounting to CHF 401.6 million booked in fourth quarter 2019 (4th quarter 2018: CHF 119.0 million)
  • First half of 2020 expected to be significantly lower than previous year in terms of sales and earnings
  • Further capacity adjustment measures introduced
  • Start of construction of Rieter CAMPUS expected during 2020, subject to granting of building permit

The Rieter Group closed the 2019 financial year, as expected, with considerably lower sales than in the previous year. According to the first, unaudited figures, total sales of CHF 760.0 million were achieved, which is 29% down on the previous year (2018: CHF 1 075.2 million). At CHF 926.1 million, order intake was 7% higher than in the prior year period (2018: CHF 868.8 million).

  • Sales were significantly down on the previous year, falling by 29% to CHF 760 million
  • EBIT margin of around 11% and net profit of around 7% of sales anticipated, non-recurring profit contribution from sale of real estate in Ingolstadt (Germany)
  • Order intake up 7% on previous year; order intake amounting to CHF 401.6 million booked in fourth quarter 2019 (4th quarter 2018: CHF 119.0 million)
  • First half of 2020 expected to be significantly lower than previous year in terms of sales and earnings
  • Further capacity adjustment measures introduced
  • Start of construction of Rieter CAMPUS expected during 2020, subject to granting of building permit

The Rieter Group closed the 2019 financial year, as expected, with considerably lower sales than in the previous year. According to the first, unaudited figures, total sales of CHF 760.0 million were achieved, which is 29% down on the previous year (2018: CHF 1 075.2 million). At CHF 926.1 million, order intake was 7% higher than in the prior year period (2018: CHF 868.8 million). Rieter will publish the full annual financial statements and the 2019 Annual Report on March 10, 2020.

 

More information:
Rieter
Source:

Rieter Management AG

28.01.2020

ISKO wows ISPO with market leading sportswear innovation.

The must-have fabrics platform for activewear and sportswear apparel, developed by ISKO, will be featuring in the Munich arena showcasing its Responsible Innovation™ approach resulting once more in groundbreaking performance properties.

ISKO returns once again to ISPO, Hall C1 – Booth 401, to present its pioneering innovation in the world of sportswear and activewear. The leading denim ingredient brand will be presenting the latest edition of ARQUAS™, the much-loved fabrics platform set to bring about an even more responsible era.

Featuring 35 fabrics, most of which are made with certified recycled materials, ARQUAS™ 6.0 combines high-performance properties with the mill’s Responsible Innovation™ approach – a holistic vision based on creativity, competence and citizenship that constantly defines new standards.

The must-have fabrics platform for activewear and sportswear apparel, developed by ISKO, will be featuring in the Munich arena showcasing its Responsible Innovation™ approach resulting once more in groundbreaking performance properties.

ISKO returns once again to ISPO, Hall C1 – Booth 401, to present its pioneering innovation in the world of sportswear and activewear. The leading denim ingredient brand will be presenting the latest edition of ARQUAS™, the much-loved fabrics platform set to bring about an even more responsible era.

Featuring 35 fabrics, most of which are made with certified recycled materials, ARQUAS™ 6.0 combines high-performance properties with the mill’s Responsible Innovation™ approach – a holistic vision based on creativity, competence and citizenship that constantly defines new standards.

Although many of the textile concepts included in the collection may have the look and hand feel of knitted fabrics, they are all woven, thus ensuring superior durability and greater recovery. Among the many qualities that come with ARQUAS™ 6.0, moisture management, UV and wind protection, heat retention, water and stain repellency stand out. Nylon, which is used for the first time in this edition, allows for super light woven and cozy outdoor fabrics, reversible and packable styles, as well as patented fabrics, such as 4 waystretch ISKO Blue Skin™ for a 360° elasticity. Finally, the collection offers super compact fabrics that are made suitable also for fully bonded garments with body shaping and high recovery properties.

To provide trailblazing inspiration to its customers, ISKO’s world-class design team have created both a men’s and women’s garment collection based on three lifestyles – active, outdoor and club sports.

ACTIVE: Ideal for a wide range of sports from yoga to fitness to running. Whether participating in highor low-impact activities, these fabrics perfectly fulfill the technical requirements of athleisure and performance-wear apparel.

OUTDOOR:
Fabrics that stand for superior comfort, durability, water repellency and breathability, protecting the wearer from the elements of nature in any kind of setting.

CLUB SPORTS:
From the perfect golf swing to a wild horse ride, essential features such as maximum flexibility, fit and performance make these the ultimate textile concepts for the sportswear market.

More information:
Isko ISPO Munich
Source:

menabo

22.01.2020

Sateri Scores ‘A-‘ in CDP Climate Change Report 2019

Sateri has scored ‘A-‘ in CDP (formerly Carbon Disclosure Project) for Climate Change in 2019, placing it at Leadership band and the top 27% of companies in its sector, for implementing current best practices. And making Sateri World’s First Viscose Producer to Reach Leadership Band

This is the first time Sateri has participated in this annual voluntary reporting. It is also the first time that a viscose producer has reached Leadership band. Sateri attained an ‘A’ for more than half of the 11 categories that it was assessed for, including value chain engagement, Scope 1,2,3 emissions, and governance. Its ‘A-‘ overall score is higher than the ‘C’ average globally, in Asia, and in the Textiles and Fabric Goods sector; no companies in the same sector scored ‘A’.

Sateri has scored ‘A-‘ in CDP (formerly Carbon Disclosure Project) for Climate Change in 2019, placing it at Leadership band and the top 27% of companies in its sector, for implementing current best practices. And making Sateri World’s First Viscose Producer to Reach Leadership Band

This is the first time Sateri has participated in this annual voluntary reporting. It is also the first time that a viscose producer has reached Leadership band. Sateri attained an ‘A’ for more than half of the 11 categories that it was assessed for, including value chain engagement, Scope 1,2,3 emissions, and governance. Its ‘A-‘ overall score is higher than the ‘C’ average globally, in Asia, and in the Textiles and Fabric Goods sector; no companies in the same sector scored ‘A’.

Allen Zhang, President of Sateri, said, “We are very pleased to achieve such a commendable score on our first attempt at CDP reporting. It is a validation of our efforts and actions to combat climate change and our contribution towards decarbonising the textile industry. The CDP platform not only helps us measure and benchmark our sustainability performance against more than 8,400 companies globally, but also serves as a management tool for continuous improvement.”

Sateri has made great strides in the last year on emission reduction work. In June 2019, Sateri and the China National Textile and Apparel Council (CNTAC) jointly launched the EcoCosy® Climate Leadership Programme. The programme invites Sateri’s value chain partners to participate in the Climate Stewardship 2030 Initiative to set a decarbonisation pathway for the fashion industry to reduce the industry’s GHG emissions by 30% by 2030. Results of the first phase of the programme were published in the EcoCosy® Climate Leadership Whitepaper 2020, which was shared at COP25 in Madrid last year.

More information:
Sateri CDP
Source:

Omnicom Public Relations Group

(c) SGL Carbon
15.01.2020

SGL Carbon: New production hall at the Bonn site

  • Increasing demand for graphite-based automotive solutions
  • Strengthening SGL Carbon’s site in Bonn

Over the past three years, SGL Carbon has invested a total of around 25 million euros in the modernization and expansion of its production capacities for specialty graphite automotive components at the Bonn site. The expansion project was completed at the end of last year and was inaugurated today at the site in an official ceremony. Besides the installation of partly new production facilities and a modernized production set-up, construction of a new, 2,000 m2 large hall for the production of the parts was implemented in the course of the expansion.

  • Increasing demand for graphite-based automotive solutions
  • Strengthening SGL Carbon’s site in Bonn

Over the past three years, SGL Carbon has invested a total of around 25 million euros in the modernization and expansion of its production capacities for specialty graphite automotive components at the Bonn site. The expansion project was completed at the end of last year and was inaugurated today at the site in an official ceremony. Besides the installation of partly new production facilities and a modernized production set-up, construction of a new, 2,000 m2 large hall for the production of the parts was implemented in the course of the expansion.

The background of the expansion is the continuously increasing demand for advanced solutions and products made from graphite in the automotive sector. Due to its durability, high strength, low friction behavior, and high conductivity, the material is suitable for many different automotive applications. Examples include rotors and vanes in vacuum pumps for brake boosters, bearings for exhaust gas management, and sealing rings and bearings for seals in coolant pumps. These solutions include applications for vehicles with conventional combustion engines as well as for e-mobility, thereby making an important contribution to clean driving, higher energy efficiency, and lower emissions.

“Automotive components made from specialty graphite are increasingly becoming the standard in many different applications in the automotive industry. Due to their special properties, they are more and more frequently replacing the materials previously used in pumps and seals, such as plastic and metal. By investing in the modernization and expansion of production in Bonn, we are consolidating our leading position in this market and offering our customers real added value in the close partnership with each other. Through the expansion, we are also strengthening our site in Bonn,” explains Burkhard Straube, President of the business unit Graphite Materials & Systems.

More information:
SGL Carbon
Source:

SGL Carbon

10.12.2019

Paris Cos. Maintains Laundries’ Environmental Commitment with Certification Renewal

Paris Companies Inc. recently achieved Clean Green re-certification. This re-certification reflects their continued dedication to operational efficiency and sustainability.

Paris Companies Inc. first earned the Clean Green Certification in 2012. Companies that have earned this certification adhere to TRSA-designated water and energy use thresholds and deploy best management practices (BMPs) consistent with the ASTM International environmental laundering standard. Paris Companies’ customers can be assured their uniforms, towels and other reusable linens are washed, dried and finished with processes that maximize sustainability and reduce greenhouse emissions. Clean Green certified operations demonstrate significant commitment to conservation and green operations through these BMPs:

Paris Companies Inc. recently achieved Clean Green re-certification. This re-certification reflects their continued dedication to operational efficiency and sustainability.

Paris Companies Inc. first earned the Clean Green Certification in 2012. Companies that have earned this certification adhere to TRSA-designated water and energy use thresholds and deploy best management practices (BMPs) consistent with the ASTM International environmental laundering standard. Paris Companies’ customers can be assured their uniforms, towels and other reusable linens are washed, dried and finished with processes that maximize sustainability and reduce greenhouse emissions. Clean Green certified operations demonstrate significant commitment to conservation and green operations through these BMPs:

  • Recovering heat from drained hot water and heat dispersed from the process of warming water
  • Recapturing drained water from rinses for reuse
  • Using environmentally friendly detergents
  • Removing solids and liquids from wastewater
  • Solar energy and energy-efficient lighting
  • Recycling programs
  • Re-routing trucks to save vehicle fuel
  • Spill prevention plans

The Clean Green certification is valid for three years at a time. TRSA inspects laundry facilities seeking certification and approves documentation of their water and energy use and BMP deployment through production reports they submit to auditors during the inspections. TRSA’s certification management protocol includes auditor training by the association’s inspection program administrator.

 

Source:

TRSA

10.12.2019

Myant Announces Joint Venture with Osmotex AG

Myant Inc. and Osmotex AG have agreed to enter into a joint venture for the commercialization of Osmotex’s HYDRO_BOT active membrane technology across various textile-based applications. The integration of HYDRO_BOT with Myant’s existing portfolio of textile-based sensing and actuating capabilities opens up new possibilities across a wide range of domains including sweat/moisture management and thermal regulation.

Myant Inc. and Osmotex AG have agreed to enter into a joint venture for the commercialization of Osmotex’s HYDRO_BOT active membrane technology across various textile-based applications. The integration of HYDRO_BOT with Myant’s existing portfolio of textile-based sensing and actuating capabilities opens up new possibilities across a wide range of domains including sweat/moisture management and thermal regulation.

HYDRO_BOT technology is capable of moving 200 liters of fluid across a square meter of textile every hour via an electroosmotic process, providing a practically limitless ability to manage moisture in textile applications. Applied in conjunction with Myant’s existing capability to deliver heat via textile and to achieve effective passive moisture wicking via novel knitted structures, the combination of technologies is poised to dramatically improve the ability to regulate body temperature in applications such as personal protective equipment for workers in heavy industry, protective gear for workers in hot desert-like climates, performance wear like snow suits or skiing apparel in cold climates, footwear, motorcycling apparel, and more. In addition to apparel, significant market opportunities exist in the moisture management as applied to the automotive industry and in the healthcare industry.

“The creation of this joint venture between Myant and Osmotex reinforces our mission to develop textiles as bidirectional interfaces to the human body capable of optimizing health and performance across all spheres of life,” said Tony Chahine, founder and CEO of Myant. “Our team is excited to begin integrating HYDRO_BOT into our textiles and bringing this transformative technology to market.”

“We are excited to be working together with Myant to realize the full potential of the HYDRO_BOT technology,” said Joacim Holter, Managing Director and Chairman of the Board for Osmotex AG. “Myant’s ability to integrate our technology and to produce at scale all under one roof made them an ideal partner to help make our vision a reality.”

More information:
Myant Osmotex
Source:

Myant Inc.

09.12.2019

Updated short- and mid-term outlook

Following an in-depth analysis of the current business situation conducted by the new Group Management, Autoneum expects a net loss in the high double-digit million range for the full year 2019 due to the situation in North America and related one-time charges from impairments. Therefore, achieving the communicated mid-term targets will take more time.

A comprehensive assessment by the new Group Management focusing on Business Group North America and taking into account the course of business from January to November 2019 led to a revaluation of the situation. It has become apparent that the problems in North America are not limited to two US plants and deficient ramp-ups there. Accordingly, a comprehensive turnaround program focusing on operational excellence and the improvement of cost structures is being developed and implemented in Business Group North America.

Following an in-depth analysis of the current business situation conducted by the new Group Management, Autoneum expects a net loss in the high double-digit million range for the full year 2019 due to the situation in North America and related one-time charges from impairments. Therefore, achieving the communicated mid-term targets will take more time.

A comprehensive assessment by the new Group Management focusing on Business Group North America and taking into account the course of business from January to November 2019 led to a revaluation of the situation. It has become apparent that the problems in North America are not limited to two US plants and deficient ramp-ups there. Accordingly, a comprehensive turnaround program focusing on operational excellence and the improvement of cost structures is being developed and implemented in Business Group North America.

As a result of the slowdown in the automotive industry and the continuing low market level forecasted in the medium term, the cost structure at the Group’s headquarters in Winterthur, Switzerland, has been adjusted, among other things, by selective staff reduction. To further reinforce new mobility activities, they will be concentrated at the Research and Technology Center in Winterthur. This will include the relocation of the Competence Center New Mobility from Sunnyvale (CA), USA, to Winterthur.

Due to the continuing losses of Business Group North America, Autoneum expects a net loss for the financial year 2019 in the high double-digit million range. In addition to current operating losses, this also includes one-time charges from impairments which are not cash-effective. To achieve the Group’s mid-term targets announced in March (“2019 Year of tidying, 2020 Year of transition, 2021 Return to sound profitability level), an additional year will therefore be needed.

More information:
Autoneum Management AG
Source:

Autoneum Management AG