From the Sector

Reset
455 results
25.03.2024

SGL Carbon: CEO Dr. Torsten Derr will not extend contract

The CEO of SGL Carbon SE, Dr. Torsten Derr, informed the Chairman of the Supervisory Board today that he will not extend his contract, which expires on May 31, 2025. Dr. Derr will continue his duties until the new CEO is appointed, at the latest until May 31, 2025.

“SGL Carbon is once again a strong and stable company whose profitable development I will continue to work on with all my strength until the last day. But even without me, my colleague on the Board of Management, Thomas Dippold, and the team will continue to develop the company successfully. The last almost four years have always been the achievement of the entire SGL team. SGL Carbon is now sailing in stable waters and my transformation work will therefore be completed shortly,” explains Dr. Torsten Derr.

The CEO of SGL Carbon SE, Dr. Torsten Derr, informed the Chairman of the Supervisory Board today that he will not extend his contract, which expires on May 31, 2025. Dr. Derr will continue his duties until the new CEO is appointed, at the latest until May 31, 2025.

“SGL Carbon is once again a strong and stable company whose profitable development I will continue to work on with all my strength until the last day. But even without me, my colleague on the Board of Management, Thomas Dippold, and the team will continue to develop the company successfully. The last almost four years have always been the achievement of the entire SGL team. SGL Carbon is now sailing in stable waters and my transformation work will therefore be completed shortly,” explains Dr. Torsten Derr.

“We are grateful to Dr. Derr for talking to us early on and in a spirit of trust. This will allow us to take our time in arranging his succession. SGL Carbon can look back on three successful financial years, is financially strong and relies on a broad-based management team that continues to drive forward the expansion of the business in strong growth markets. In our appreciative discussions, Dr. Derr has promised to complete all important projects with his usual commitment until the handover of the CEO position,” says Prof. Dr. Frank Richter.

The Supervisory Board will immediately begin the search for a successor to Dr. Torsten Derr.

More information:
SGL Carbon SE CEO management
Source:

SGL Carbon SE

25.03.2024

Texhibition Istanbul: Fifth edition successfully concluded

The fifth edition of the Texhibition Istanbul Fabric and Textile Accessories Fair from 6 to 8 March 2024, organised by İTKİB Fuarcılık A.Ş. in cooperation with the Istanbul Textile Exporters Association (İTHİB), presented 557 exhibitors showcasing the entire range of the textile supplying section: from woven and knitted fabrics to accessories and artificial leather. A new addition was a separate hall for yarns and denim, the BlueBlackDenim hall. With this trade fair, Texhibition has more than doubled its floor space compared to the last event to 35,000 square metres.

Exhibitors
Texhibition Istanbul acts as a central point of contact for the entire international industry, with a clear focus on quality, innovation and the latest trends like the denim companies Bossa, Çalık, İsko, İskur and Kipaş at the BlueBlackDenim Hall.

Yarn companies such as Aksa, Diktaş, Ensar, Karafiber, Kaplanlar, Korteks, Migiteks, Sasa, Tepar showed the production power of the yarn sector, where the product quality, design and workmanship came together.

The fifth edition of the Texhibition Istanbul Fabric and Textile Accessories Fair from 6 to 8 March 2024, organised by İTKİB Fuarcılık A.Ş. in cooperation with the Istanbul Textile Exporters Association (İTHİB), presented 557 exhibitors showcasing the entire range of the textile supplying section: from woven and knitted fabrics to accessories and artificial leather. A new addition was a separate hall for yarns and denim, the BlueBlackDenim hall. With this trade fair, Texhibition has more than doubled its floor space compared to the last event to 35,000 square metres.

Exhibitors
Texhibition Istanbul acts as a central point of contact for the entire international industry, with a clear focus on quality, innovation and the latest trends like the denim companies Bossa, Çalık, İsko, İskur and Kipaş at the BlueBlackDenim Hall.

Yarn companies such as Aksa, Diktaş, Ensar, Karafiber, Kaplanlar, Korteks, Migiteks, Sasa, Tepar showed the production power of the yarn sector, where the product quality, design and workmanship came together.

In addition to well-known companies such as Almodo, Bahariye, BTD, Can Textile, Iskur, Kipaş, Menderes, Söktaş, Yünsa, Zorlu, İpeker a large number of other export-oriented companies from the segments of textiles (woven fabrics, knitting) presented their latest designs and products.

Visitors
25,752 visitors came from over 112 countries, 41.8% from the European Union (including Germany, Italy, the Netherlands, Spain, Romania etc.) and Great Britain, Ukraine,26.5% from Asia (including Russia etc.), 14.8% from the Middle East (including Jordan, United Arab Emirates, Saudi Arabia) 10.7% from North Africa (including Algeria, Tunisia etc.), 3.1% from North America (United States, Canada), 3.1% from South America and other countries.

American buyers from the USA and Canada in particular, but also a large number of Mexican and Colombian buyers took advantage of the numerous match-making opportunities at Texhibition. Many B2B meetings took place and led to numerous orders being placed, including from key accounts such as Alexander Wang, Asos, Forever 21, Sainsbury's, Veronica Beard etc.

More information:
Texhibition Istanbul Yarns Denim
Source:

JANDALI

22.03.2024

Forschungsvorhaben "Nachhaltigkeit im Bereich der Textilbranche"

An der Technischen Universität Chemnitz wird ein Forschungsvorhaben zum Thema "Nachhaltigkeit im Bereich der Textilbranche" durchgeführt. Für die dazugehörigen Umfrage werden Textilunternehmen gesucht, die sich daran beteiligen möchten.

Das Management von Nachhaltigkeit und die entsprechende Berichtpflicht betrifft die gesamte Textilwirtschaft. Aus wissenschaftlicher Sicht fehle, so die Verantwortlichen, jedoch über die Textilbranche, insbesondere über die Bekleidungsindustrie hinaus, noch Wissen zum Thema Nachhaltigkeit. Mit Hilfe der Umfrage soll festgehalten werden, in welchem Umfang Textilunternehmer:in die Themen Nachhaltigkeit und Ökobilanzierung bereits berücksichtigen.

Die Umfrage hat eine geschätzte Bearbeitungsdauer von 15 Minuten und ist unter folgendem Link aufrufbar. Datenschutzrechtlich sind die Angaben anonymisiert, ein Rückschluss auf Unternehmen oder Personen ist nicht möglich.

An der Technischen Universität Chemnitz wird ein Forschungsvorhaben zum Thema "Nachhaltigkeit im Bereich der Textilbranche" durchgeführt. Für die dazugehörigen Umfrage werden Textilunternehmen gesucht, die sich daran beteiligen möchten.

Das Management von Nachhaltigkeit und die entsprechende Berichtpflicht betrifft die gesamte Textilwirtschaft. Aus wissenschaftlicher Sicht fehle, so die Verantwortlichen, jedoch über die Textilbranche, insbesondere über die Bekleidungsindustrie hinaus, noch Wissen zum Thema Nachhaltigkeit. Mit Hilfe der Umfrage soll festgehalten werden, in welchem Umfang Textilunternehmer:in die Themen Nachhaltigkeit und Ökobilanzierung bereits berücksichtigen.

Die Umfrage hat eine geschätzte Bearbeitungsdauer von 15 Minuten und ist unter folgendem Link aufrufbar. Datenschutzrechtlich sind die Angaben anonymisiert, ein Rückschluss auf Unternehmen oder Personen ist nicht möglich.

Source:

Professur Fabrikplanung und Intralogistik
Fakultät für Maschinenbau
Technische Universität Chemnitz

22.03.2024

EURATEX: European Commission announces “Textiles of the Future” Partnership

In the fringes of the EU Research and Innovation Days, the European Commission has announced 9 new European co-funded and co-programmed partnerships, including “Textiles of the Future”. These partnerships will be at the core of the Horizon Europe Strategic Plan 2025-2027, addressing the green and digital transition, and a more resilient, competitive, inclusive and democratic Europe.

EURATEX has been working towards such a partnership over the last few years. Investing in innovation is a critical component to successfully implement the EU Strategy for Sustainable and Circular Textiles. EURATEX therefore welcomes the Commission’s decision, as a measure to help their 200.000 EU textile companies to remain competitive.

The Textiles of the Future Partnership will be co-managed by the European Technology Platform for Future of Textiles and Clothing (ETP). With a deep knowledge in textiles research and a vast innovation network, ETP stands ready to bring that partnership into reality.

In the fringes of the EU Research and Innovation Days, the European Commission has announced 9 new European co-funded and co-programmed partnerships, including “Textiles of the Future”. These partnerships will be at the core of the Horizon Europe Strategic Plan 2025-2027, addressing the green and digital transition, and a more resilient, competitive, inclusive and democratic Europe.

EURATEX has been working towards such a partnership over the last few years. Investing in innovation is a critical component to successfully implement the EU Strategy for Sustainable and Circular Textiles. EURATEX therefore welcomes the Commission’s decision, as a measure to help their 200.000 EU textile companies to remain competitive.

The Textiles of the Future Partnership will be co-managed by the European Technology Platform for Future of Textiles and Clothing (ETP). With a deep knowledge in textiles research and a vast innovation network, ETP stands ready to bring that partnership into reality.

Source:

EURATEX

22.03.2024

SGL Carbon achieves annual targets for 2023

  • Three out of four business units with record sales and results
  • Carbon Fibers business weighs on the Group's profitability
  • Group sales of €1,089.1 million (-4.1%) and adjusted EBITDA of €168.4 million (-2.5%) in a difficult market environment
  • Sales and earnings forecast for 2023 achieved despite drop in demand from key market
  • 2024 further capacity expansion in graphite components for silicon carbide-based semiconductors

In fiscal year 2023, SGL Carbon achieved the sales and earnings targets set at the beginning of the year despite the drop in demand from the important wind market and an increasingly challenging economic environment. Group sales decreased slightly by €46.8 million (minus 4.1%) to €1,089.1 million (previous year: €1,135.9 million). At € 168.4 million, adjusted EBITDA, a key performance indicator for the Group, was also down slightly (minus 2.5%) compared to the previous year (€172.8 million) but was clearly within the forecast range for 2023 of €160 to 180 million.

  • Three out of four business units with record sales and results
  • Carbon Fibers business weighs on the Group's profitability
  • Group sales of €1,089.1 million (-4.1%) and adjusted EBITDA of €168.4 million (-2.5%) in a difficult market environment
  • Sales and earnings forecast for 2023 achieved despite drop in demand from key market
  • 2024 further capacity expansion in graphite components for silicon carbide-based semiconductors

In fiscal year 2023, SGL Carbon achieved the sales and earnings targets set at the beginning of the year despite the drop in demand from the important wind market and an increasingly challenging economic environment. Group sales decreased slightly by €46.8 million (minus 4.1%) to €1,089.1 million (previous year: €1,135.9 million). At € 168.4 million, adjusted EBITDA, a key performance indicator for the Group, was also down slightly (minus 2.5%) compared to the previous year (€172.8 million) but was clearly within the forecast range for 2023 of €160 to 180 million.

While the positive sales development of the Graphite Solutions (+€53.5 million to €565.7 million), Process Technology (+€21.6 million to €127.9 million) and Composite Solutions (+€0.8 million to €153.9 million) business units had a positive effect, the Carbon Fibers business unit had a negative impact on Group sales with a sales decline of €122.3 million to €224.9 million.

Outlook
The global economy will continue to face comparatively high interest rates and subdued growth prospects in 2024. Tighter financing conditions, weak trade growth and a decline in business and consumer confidence are also weighing on the economic outlook. In addition, heightened geopolitical tensions are contributing to increased uncertainty.

SGL Carbon expects different developments in our key sales markets in 2024. The most important sales and earnings driver will be demand for specialty graphite components for the semiconductor industry. In contrast, all indicators currently suggest that demand for carbon fibers for the wind industry will remain weak in 2024 and that the Carbon Fibers (CF) business unit will therefore continue to record operating losses. Even if demand picks up, SGL Carbon assumes that Carbon Fibers will require additional resources to make the most of market opportunities. With this in mind, teh company announced on February 23, 2024, that they are reviewing all strategic options for Carbon Fibers. These also include a possible partial or complete sale of the business unit.

SGL Carbon's sales forecast for the financial year 2024 takes all four operating business units into account, as the company is only at the beginning of evaluating the strategic options for CF. In line with the assumptions outlined, SGL Carbon is therefore expecting Group sales at the previous year's level (2023: €1,089.1 million).

In the earnings forecast, SGL Carbon has taken into account underutilization of production capacity in the Carbon Fibers business unit and the associated high idle capacity costs. The projected operating loss of CF will have a negative impact on the adjusted EBITDA of the SGL Carbon Group in 2024. Due to the expected positive development of Graphite Solutions, SGL Carbon anticipates an adjusted EBITDA of between €160 million and €170 million for fiscal year 2024, taking into account all four operating business units. Should the process of reviewing all strategic options for the CF business unit result in a sale, the forecast of adjusted EBITDA in 2024 would be between €180 - 190 million.

More information:
SGL Carbon financial year 2023
Source:

SGL Carbon SE

HEREWEAR is winner of the Cellulose Fibre Innovation of the Year Photo: DITF
The Flexidress in its various forms
22.03.2024

HEREWEAR is winner of the Cellulose Fibre Innovation of the Year

At the "International Conference on Cellulose Fibers 2024" in Cologne, Germany, the Nova Institute for Ecology and Innovation awarded first place in the Innovation Prize to the project partners of the EU-funded HEREWEAR project. They presented a dress made of cellulose fibers, which is entirely made of straw pulp.

HEREWEAR is an EU-wide research project that brings together partners from research and industry. They are working to establish a European circular economy for locally produced textiles and clothing made from bio-based raw materials.
The HEREWEAR consortium consists of small and medium-sized enterprises and research institutions. HEREWEAR covers all the necessary expertise and infrastructure from academic and applied research and industry from nine EU countries.

The HEREWEAR approach includes technical and ecological innovations in the production of fibers, yarns, fabrics, knitwear and garments, as well as the use of regional value chains and the circular development of fashion items.

At the "International Conference on Cellulose Fibers 2024" in Cologne, Germany, the Nova Institute for Ecology and Innovation awarded first place in the Innovation Prize to the project partners of the EU-funded HEREWEAR project. They presented a dress made of cellulose fibers, which is entirely made of straw pulp.

HEREWEAR is an EU-wide research project that brings together partners from research and industry. They are working to establish a European circular economy for locally produced textiles and clothing made from bio-based raw materials.
The HEREWEAR consortium consists of small and medium-sized enterprises and research institutions. HEREWEAR covers all the necessary expertise and infrastructure from academic and applied research and industry from nine EU countries.

The HEREWEAR approach includes technical and ecological innovations in the production of fibers, yarns, fabrics, knitwear and garments, as well as the use of regional value chains and the circular development of fashion items.

New technologies for wet and melt spinning of cellulose and bio-based polyesters, e.g. PLA, from which yarns and fabrics are produced, form the technical basis. Coating and dyeing processes have been developed and tested as part of the project. In addition to reducing the carbon footprint of the product, another environmental goal is to reduce the release of microfibers throughout the textile manufacturing process and life cycle.

Improving the sustainability and recyclability of the developed garments is ensured by design for circularity and digitally networked production means. On-demand production is realized in so-called "microfactories", which are individualized and produce only for actual demand. This production method can be achieved through regional, networked value chains and enables the traceability of materials and manufacturing processes.

The dress presented at the award ceremony is an example of the cooperation and the different qualifications of the project partners: TNO (Netherlands Organization for Applied Scientific Research) provided sustainably produced pulp. The HighPerCell fibers were produced in DITF's spinning facilities. At the same time, designers from the fashion label Vretena created the design for the flexible, two-piece dress, which can be knitted without cutting waste. DITF textile experts worked with the designers to develop the knitting pattern. DITF textile engineers and technicians produced the knitted fabric and assembled the dress at the institutes’ technical center. DITF computer scientists and engineers created the "value chain" and "digital twins" for digital traceability of the production processes.

The innovation prize was awarded to the HEREWEAR consortiu for their joint achievement. Representatives of DITF Denkendorf and Vretena accepted the award on behalf of the EU project partners.

Source:

Deutsche Institute für Textil- und Faserforschung (DITF)

18.03.2024

Solvay: Full-year 2023 results

  • Solvay’s FY 2023 financial statements reflect the Partial Demerger completed on December 9, 2023, with the Specialty businesses transferred to Syensqo classified as discontinued operations for 2023.
  • New Solvay leadership team committed to drive the transformation of the company.
  • Net sales for the full year 2023 at €4,880 million were down -12.6% organically versus 2022, driven primarily by volume declines. In Q4, net sales decreased organically by -18.9% from both lower volumes and prices.
  • Underlying EBITDA of €1,246 million for the full year 2023 was stable (+0.2%) on an organic basis compared to a record 2022, with positive Net Pricing and lower fixed costs offsetting the drop in volumes. EBITDA in the fourth quarter was down -24.5% organically vs Q4 2022, fully driven by lower volumes, with variable costs reduction offsetting price erosion, while fixed costs decreased slightly.
  • Underlying net profit from continuing operations was €588 million in 2023 compared to €740 million in 2022.
  • Free Cash Flow of €561 million in 2023 (+17.3% vs.
  • Solvay’s FY 2023 financial statements reflect the Partial Demerger completed on December 9, 2023, with the Specialty businesses transferred to Syensqo classified as discontinued operations for 2023.
  • New Solvay leadership team committed to drive the transformation of the company.
  • Net sales for the full year 2023 at €4,880 million were down -12.6% organically versus 2022, driven primarily by volume declines. In Q4, net sales decreased organically by -18.9% from both lower volumes and prices.
  • Underlying EBITDA of €1,246 million for the full year 2023 was stable (+0.2%) on an organic basis compared to a record 2022, with positive Net Pricing and lower fixed costs offsetting the drop in volumes. EBITDA in the fourth quarter was down -24.5% organically vs Q4 2022, fully driven by lower volumes, with variable costs reduction offsetting price erosion, while fixed costs decreased slightly.
  • Underlying net profit from continuing operations was €588 million in 2023 compared to €740 million in 2022.
  • Free Cash Flow of €561 million in 2023 (+17.3% vs. €479 million in 2022) resulting in a record FCF conversion ratio of 45.4%, thanks to the strong EBITDA performance and to the positive impact from working capital variation.
  • ROCE was 20.4% in 2023, -2.5pp compared to 2022 as a result of lower profit.
  • Solid balance sheet at the end of December 2023, in line with the target capital structure announced in November 2023, with an underlying net debt of €1.5 billion, which translates into a leverage ratio of 1.2x.
  • Total proposed gross dividend of €2.43 per share, subject to shareholders’ approval during the next Ordinary General Meeting of May 28, 2024.
  • Solvay continues to reduce its GHG emissions (-19% vs 2021, scope 1 and 2).
  • 2024 Outlook: Organic growth of the underlying EBITDA of -10% to -20% compared to restated 2023; Free cash flow of minimum €260 million

2024 outlook
Across its product portfolio, Solvay expects current demand levels to continue over the next few months and, as such, expects H1 2024 volumes to be broadly in line with H2 2023. At this point, there is little visibility on the second half of the year, however there are signs that the trend in the second half could improve. Solvay expects Soda Ash prices over FY 2024 to be lower than FY 2023, consistent with the current market environment, which will affect the business margin in 2024. Pricing trends across Solvay’s other businesses are forecasted to be more resilient year on year.

Lower energy and raw materials prices should offset some of the negative pressure on the topline. More importantly, Solvay has started to implement cost savings initiatives that will start to deliver results in 2024.

For full year 2024, Solvay expects an organic growth of the underlying EBITDA by -10% to -20% versus a high comparison base in 2023, especially in H1. This translates into a range of €925 million to €1,040 million at a 1.10 EUR/USD exchange rate.

The organic growth of the underlying EBITDA is calculated from a 2023 restated figure of €1,154 million (vs a reported figure of €1,246 million).

Free cash flow to Solvay shareholders from continuing operations is expected to be greater than €260 million, in line with the cash usage prioritization presented during the Capital Market Day in November 2023. It is supported by Solvay’s ability to manage its capex and working capital to ensure the financing of its businesses and the payment of dividends while keeping the strength of its balance sheet intact.

Solvay remains committed to implement its strategic roadmap and reconfirms its 2028 targets as communicated at the Capital Markets Day of November 2023.

Source:

Solvay

18.03.2024

Lenzing: Combined annual and sustainability report 2023

  • Combination of financial and non-financial reporting as evidence of the central role of sustainability
  • Measurable progress in achieving sustainability and climate targets
  • Recognized for sustainability and prepares for the European Green Deal

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.

  • Combination of financial and non-financial reporting as evidence of the central role of sustainability
  • Measurable progress in achieving sustainability and climate targets
  • Recognized for sustainability and prepares for the European Green Deal

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.

Source:

Lenzing AG

Collaboration between IHKIB and WRAP (c) IHKIB
18.03.2024

Collaboration between IHKIB and WRAP

In a move to enhance the global competitiveness of the Turkish apparel industry, the Istanbul Apparel Exporters' Association (IHKIB) has entered into a collaborative agreement with the Worldwide Responsible Accredited Production (WRAP).

IHKIB, representing 80% of Türkiye's apparel exports, aims to facilitate and guide its members in navigating new markets and staying abreast of sectoral developments.
WRAP, a US-based non-profit organization, focuses on promoting safe, lawful, humane, and ethical working conditions within the textile and apparel industry.

In a move to enhance the global competitiveness of the Turkish apparel industry, the Istanbul Apparel Exporters' Association (IHKIB) has entered into a collaborative agreement with the Worldwide Responsible Accredited Production (WRAP).

IHKIB, representing 80% of Türkiye's apparel exports, aims to facilitate and guide its members in navigating new markets and staying abreast of sectoral developments.
WRAP, a US-based non-profit organization, focuses on promoting safe, lawful, humane, and ethical working conditions within the textile and apparel industry.

Mr. Selcuk Mehmet Kaya, Chairman of the International Relations and Sustainability Committee of IHKIB, and Mr. Avedis Seferian, President and CEO of WRAP, officially inked a collaboration agreement on March 8, 2024, marking a significant step towards fostering business relations between Türkiye and the USA. The agreement focuses on a pilot project developed by IHKIB and WRAP, aiming to identify leading Turkish apparel companies exporting to the USA and encouraging these facilities to attain WRAP certification. In return, WRAP will provide in-person and virtual training at no charge to guide these facilities through the certification process. The project seeks to strengthen business ties between Türkiye and the USA, creating additional opportunities for mutual cooperation between the parties in both countries.

Source:

IHKIB - Istanbul Apparel Exporters’ Association

15.03.2024

ACIMIT: Italian textile machinery manufacturers at symposia in India

A new promotional initiative aims to boost trade relations between Italy and India in the textile sector. 11 Italian textile machinery manufacturers will be taking part in the forthcoming technological symposia scheduled in New Delhi and Mumbai from 9 to 12 April. The two events, organized by the Italian Trade Agency and supported by the Ministry of Foreign Affairs and International Cooperation, will allow Italian companies to showcase their technologies to a selected audience of Indian textile entrepreneurs.

The textile sector is of great significance in the Indian economy, contributing more than 2% of the GDP and allowing the Country to be among the largest exporter of textile and apparel items. Moreover India represents the third largest foreign market for the Italian textile machinery industry.

In 2022 India imported Italian textile machinery for a total value of about 200 million euro. Referring to the first 9 months of 2023, the value shows a slight decrease compared to the value for the same period of the previous year, but the forecast for the current year remains positive.

A new promotional initiative aims to boost trade relations between Italy and India in the textile sector. 11 Italian textile machinery manufacturers will be taking part in the forthcoming technological symposia scheduled in New Delhi and Mumbai from 9 to 12 April. The two events, organized by the Italian Trade Agency and supported by the Ministry of Foreign Affairs and International Cooperation, will allow Italian companies to showcase their technologies to a selected audience of Indian textile entrepreneurs.

The textile sector is of great significance in the Indian economy, contributing more than 2% of the GDP and allowing the Country to be among the largest exporter of textile and apparel items. Moreover India represents the third largest foreign market for the Italian textile machinery industry.

In 2022 India imported Italian textile machinery for a total value of about 200 million euro. Referring to the first 9 months of 2023, the value shows a slight decrease compared to the value for the same period of the previous year, but the forecast for the current year remains positive.

Italian companies participating in the symposia, all of which are ACIMIT members, are: Autefa, Cubotex, Danitech, Lafer, Mcs, Monti-Mac, Reggiani Macchine, Salvadè, Savio, Sicam, Testa.

Source:

ACIMIT - Association of Italian Textile Machinery Manufacturers

13.03.2024

Rieter: Successful financial year 2023

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

  • Sales of CHF 1 418.6 million in the 2023 financial year
  • Order intake of CHF 541.8 million in the 2023 financial year; order backlog of around CHF 650 million as of December 31, 2023
  • EBIT margin of 7.2%
  • “Next Level” performance program on track
  • Proposed dividend of CHF 3.00 per share
  • Outlook 2024 with sales of around CHF 1 billion

The Rieter Group closed the 2023 financial year with slightly lower sales of CHF 1 418.6 million (2022: CHF 1 510.9 million), down 6% on the previous year. In line with expectations, the order intake of CHF 541.8 million was considerably below the prior year period (2022: CHF 1 157.3 million). In a challenging business environment, Rieter generated an EBIT margin of 7.2%. Implementation of the “Next Level” performance program to increase profitability is proceeding according to plan.

Outlook 2024
Markets remain under pressure from the economic slowdown, high inflation rates and noticeably dampened consumer sentiment. Customers are reluctant to place orders due to financing challenges. The first signs of a recovery in the 2024 financial year have emerged in the key markets of China and India. Rieter expects demand to increase in the coming months.
For the full year 2024, Rieter anticipates sales in the region of CHF 1 billion and a positive EBIT margin of up to 4%.

Source:

Rieter Management AG

Thomas Stegmaier appointed Sustainability Officer Photo: DITF
Dr.-Ing. habil. Thomas Stegmaier
11.03.2024

DITF: Thomas Stegmaier appointed Sustainability Officer

The EU directive on the further development of sustainability reporting (CSRD) poses major challenges for companies and the public sector. Until now, the regulations have only applied to large capital market-oriented companies. However, far-reaching changes to sustainability reporting are expected when the CSRD is transposed into national law in 2024. The German Institutes of Textile and Fiber Research (DITF) are facing up to this challenge of external reporting and at the same time the responsibility for sustainable and resource-conserving science. The Textile Research Center has therefore set up a specialist department reporting to the Executive Board.

The DITF are reaffirming their commitment to sustainability with the appointment of the previous Head of the Competence Center Textile Chemistry, Environment & Energy, Dr.-Ing. habil. Thomas Stegmaier, as Chief Sustainability Officer (CSO). In addition to this new role, Stegmaier will continue to provide his expertise to the Competence Center Textile Chemistry, Environment & Energy as Deputy Head.

The EU directive on the further development of sustainability reporting (CSRD) poses major challenges for companies and the public sector. Until now, the regulations have only applied to large capital market-oriented companies. However, far-reaching changes to sustainability reporting are expected when the CSRD is transposed into national law in 2024. The German Institutes of Textile and Fiber Research (DITF) are facing up to this challenge of external reporting and at the same time the responsibility for sustainable and resource-conserving science. The Textile Research Center has therefore set up a specialist department reporting to the Executive Board.

The DITF are reaffirming their commitment to sustainability with the appointment of the previous Head of the Competence Center Textile Chemistry, Environment & Energy, Dr.-Ing. habil. Thomas Stegmaier, as Chief Sustainability Officer (CSO). In addition to this new role, Stegmaier will continue to provide his expertise to the Competence Center Textile Chemistry, Environment & Energy as Deputy Head.

The task of the Chief Sustainability Officer is to develop solutions to reduce the DITF's energy and resource consumption, promote renewable energies and implement efficient energy use. The management team, the operational organizational units and all employees are involved in the process.

The CSO also acts as a driving force for both the Executive Board and the research departments to promote sustainability issues.

08.03.2024

Rieter: Partnership with Shanghai's DIW

On March 6, 2024, Rieter received an order for the first batch of Rieter technology amounting to around CHF 62 million from Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd. (DIW). Rieter also signed a strategic partnership with DIW to develop an intelligent yarn manufacturing technology that utilizes digitization and automation to minimize conversion costs.

On March 6, 2024, Rieter received an order for the first batch of Rieter technology amounting to around CHF 62 million from Shanghai Digital Intelligence World Industrial Technology Group Co., Ltd. (DIW). Rieter also signed a strategic partnership with DIW to develop an intelligent yarn manufacturing technology that utilizes digitization and automation to minimize conversion costs.

Rieter and DIW signed a first order in the amount of around CHF 62 million for combers and draw frames that will provide the basis to transform DIW’s spinning mills into state-of-the-art industrial textile operations. DIW, a fast-growing company specializing in intelligent manufacturing and industrial operation services, selected Rieter following a competition in which the company’s machines achieved better stability and higher production than competitors. The strategic partnership of DIW and Rieter is designed to further enhance the overall operational efficiency of DIW’s mills by providing highly efficient machines, automation and digitization technology. This will also minimize conversion cost and consolidate the sustainable growth of both companies, while contributing to the high-quality development of the Chinese textile industry.

Source:

Rieter Management AG

06.03.2024

Browzwear adds complete Color Atlas by Archroma® library

Archroma and Browzwear, a company of 3D digital solutions for the fashion industry, have expanded their partnership to bring the complete Color Atlas by Archroma® library of colors to Browzwear’s VSticher, Lotta and Stylezone platforms.

Designers will now have access to a total of 5,760 color references, with 1,440 colors for polyester added to Browzwear’s existing color library of 4,320 Color Atlas colors for cotton poplin. This will support them to collaborate across the entire supply chain, ensuring color consistency from digital design to production for cotton, polyester and blends.

Crucially, the color references in the Color Atlas by Archroma® have been formulated to comply with leading international eco-standards, allowing designers to select dyes and finishes that meet their desired sustainability profile. Each color is available as a physical color standard that includes precise dyeing recipes and compliance data, as well as access to expert technical support from Archroma around the world.

Archroma and Browzwear, a company of 3D digital solutions for the fashion industry, have expanded their partnership to bring the complete Color Atlas by Archroma® library of colors to Browzwear’s VSticher, Lotta and Stylezone platforms.

Designers will now have access to a total of 5,760 color references, with 1,440 colors for polyester added to Browzwear’s existing color library of 4,320 Color Atlas colors for cotton poplin. This will support them to collaborate across the entire supply chain, ensuring color consistency from digital design to production for cotton, polyester and blends.

Crucially, the color references in the Color Atlas by Archroma® have been formulated to comply with leading international eco-standards, allowing designers to select dyes and finishes that meet their desired sustainability profile. Each color is available as a physical color standard that includes precise dyeing recipes and compliance data, as well as access to expert technical support from Archroma around the world.

More information:
Archroma Browzwear Color Atlas
Source:

Archroma

Borealis celebrates 30th anniversary (c) Borealis
05.03.2024

Borealis celebrates 30th anniversary

Borealis is commemorating its thirtieth year of operations. Born of a merger between Statoil and Neste, Borealis has expanded from its early Nordic roots to become one of the top polyolefins players. Its dedication to value creation through innovation has produced proprietary and transformative technologies which benefit society and accelerate the transition to a circular economy. The company is regularly ranked as Austria's top innovator in the European Patent Index and holds an extensive patent portfolio of around 8,900 granted patents. In Europe in particular, Borealis has for decades bolstered the industrial landscape by investing in its capital assets, and by providing thousands of jobs.

Borealis is commemorating its thirtieth year of operations. Born of a merger between Statoil and Neste, Borealis has expanded from its early Nordic roots to become one of the top polyolefins players. Its dedication to value creation through innovation has produced proprietary and transformative technologies which benefit society and accelerate the transition to a circular economy. The company is regularly ranked as Austria's top innovator in the European Patent Index and holds an extensive patent portfolio of around 8,900 granted patents. In Europe in particular, Borealis has for decades bolstered the industrial landscape by investing in its capital assets, and by providing thousands of jobs.

Innovations
Borealis uses technological innovation to add value to polyolefin-based applications, ensure that production processes are made more resource efficient, and to accelerate plastics circularity. Borstar®, the multi-modal proprietary technology for the manufacture of polyethylene (PE) and polypropylene (PP), has been a mainstay of Borealis success since the start-up of the first Borstar PE plant in Porvoo, Finland in 1995. Borstar has since been joined by other technology brands, like Borlink™, an innovation for the power cable industry; Borstar® Nextension Technology, an innovation that among other benefits facilitates the production of monomaterial applications designed for recycling; or the Borcycle™ M technology for mechanical recycling, which breathes new life into polyolefin-based, post-consumer waste, transforming it into applications with a lower carbon footprint.

Global Expansion
With the strong support of its two majority shareholders OMV (Austria) and The Abu Dhabi National Oil Company (ADNOC, UAE), Borealis continues to expand its global footprint. The joint venture Borouge, established in 1998 in the UAE, and listed on the Abu Dhabi Securities Exchange (ADX) since 2022, is one of the largest integrated polyolefin complexes. It is currently the site of the company’s largest-ever growth project: Borouge 4, the new USD 6.2 billion facility in Ruwais, which will serve customers in the Middle East and Asia. In North America, the Baystar™ joint venture, founded in 2017 and operated with partner TotalEnergies, entailed the construction of a new ethane cracker as well as the most advanced Borstar plant ever built outside of Europe. The PE Borstar 3G plant in Pasadena, Texas was started up in late 2023 and has brought Borstar to this continent for the first time. Borealis’ commitment to Europe as a production location is evidenced by the new, world-scale propane dehydrogenation (PDH) plant currently under construction at Borealis operations in Kallo, Belgium.

More information:
Borealis polyolefins Recycling
Source:

Borealis

01.03.2024

Re:NewCell’s bankruptcy application approved

Re:NewCell AB announced that the Stockholm District Court has decided to approve the previously communicated bankruptcy application and has declared the company bankrupt.

The appointed bankruptcy trustee is lawyer Lars-Henrik Andersson at Cirio Advokatbyrå.

February,25 the Board of Directors had decided to file for bankruptcy of Re:NewCell AB at the Stockholm District Court. The reason for the decision to file for bankruptcy was that Re:NewCell has not been able to secure sufficient financing to complete the strategic review, announced on 20 November 2023, with satisfactory result.

As part of the strategic review, Re:NewCell has had well advanced negotiations with its two largest shareholders, H&M and Girindus, its existing lenders BNP Paribas, European Investment Bank, Finnvera (as partial guarantor), Nordea, AB Svensk Exportkredit and potential new investors as well as other stakeholders regarding long-term financing solutions. These discussions have not resulted in a solution which would provide Re:NewCell with the necessary liquidity and capital to ensure its operations going forward.

Re:NewCell AB announced that the Stockholm District Court has decided to approve the previously communicated bankruptcy application and has declared the company bankrupt.

The appointed bankruptcy trustee is lawyer Lars-Henrik Andersson at Cirio Advokatbyrå.

February,25 the Board of Directors had decided to file for bankruptcy of Re:NewCell AB at the Stockholm District Court. The reason for the decision to file for bankruptcy was that Re:NewCell has not been able to secure sufficient financing to complete the strategic review, announced on 20 November 2023, with satisfactory result.

As part of the strategic review, Re:NewCell has had well advanced negotiations with its two largest shareholders, H&M and Girindus, its existing lenders BNP Paribas, European Investment Bank, Finnvera (as partial guarantor), Nordea, AB Svensk Exportkredit and potential new investors as well as other stakeholders regarding long-term financing solutions. These discussions have not resulted in a solution which would provide Re:NewCell with the necessary liquidity and capital to ensure its operations going forward.

"I regret to inform that we have been forced to take this decision to file for bankruptcy. As we have a strong belief in the company’s long-term potential, we have together with our advisors spent very substantial time and efforts into trying to secure the necessary liquidity, capital and ownership structure for the company to secure its future. As part of the negotiations, we have had intense dialogues with both current main owners, new investors and our banks, as well as other stakeholders. However, these discussions have not been successful. This is a sad day for the environment, our employees, our shareholders, and our other stakeholders, and it is a testament to the lack of leadership and necessary pace of change in the fashion industry” says Chairman of the Board of Directors, Michael Berg.

More information:
Renewcell bankruptcy
Source:

Renewcell

01.03.2024

Autoneum: New Business Unit for Commercial Vehicles

Autoneum has established a new Business Unit Commercial Vehicles to expand its existing truck business and to increase revenue and profitability in this vehicle segment as part of the Group’s strategic focus on profitable growth. To begin with, the Business Unit will focus on the commercial vehicles business in Europe and South America, as these two regions have a comparable customer base. The Business Unit is responsible for the global commercial vehicles business development, while its financial results will be consolidated within the Business Groups.

Autoneum has established a new Business Unit Commercial Vehicles to expand its existing truck business and to increase revenue and profitability in this vehicle segment as part of the Group’s strategic focus on profitable growth. To begin with, the Business Unit will focus on the commercial vehicles business in Europe and South America, as these two regions have a comparable customer base. The Business Unit is responsible for the global commercial vehicles business development, while its financial results will be consolidated within the Business Groups.

The new Business Unit focuses primarily on the business with components for medium and heavy trucks as well as agricultural commercial vehicles. Following the acquisition of Borgers Automotive in April last year, Autoneum has significantly expanded its product and technology portfolio for these vehicle segments. In combination with the Company’s global presence and diversified customer structure, this provides an ideal basis for future profitable growth. Autoneum already operates plants which manufacture products for the exterior and interior of commercial vehicles in Belgium, Czech Republic, France, Germany and Poland, as well as in Brazil. With the creation of a dedicated Business Unit Commercial Vehicles, Autoneum aims to leverage its existing production footprint in order to further grow the business worldwide.

As with the product portfolio for light vehicles, Autoneum’s multifunctional, lightweight and sustainable systems and components are suitable for commercial vehicles of all drive types. Autoneum is therefore well positioned for the expected increase in electric models due to more stringent environmental regulations.

More information:
Autoneum Automotive acoustic
Source:

Autoneum

26.02.2024

AkzoNobel: Full-year 2023 results

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

Highlights Q4 2023 (compared with Q4 2022)

  • Revenue in constant currencies up 4% on higher volumes and pricing (reported revenue -3%)
  • Operating income improved to €214 million (2022: €103 million)
  • Adjusted operating income at €221 million (2022: €126 million); ROS at 8.7% (2022: 4.8%); €244 million before €23 million negative impact from hyperinflation accounting
  • Net cash from operating activities positive €574 million (2022: €291 million)

Highlights full-year 2023 (compared with full-year 2022)

  • Revenue in constant currencies up 5% driven by pricing (reported revenue -2%)
  • Operating income improved to €1,029 million (2022: €708 million)
  • Adjusted operating income at €1,074 million (2022: €789 million), despite €77 million adverse
  • currency effects from translation; ROS at 10.1% (2022: 7.3%)
  • Adjusted EBITDA at €1,429 million (2022: €1,157 million), despite €92 million adverse currency
  • effects from translation
  • Net cash from operating activities positive €1,126 million (2022: €263 million)
  • Net debt to EBITDA leverage ratio improved to 2.7 (2022: 3.8)
  • Final dividend proposed of €1.54 per share (2022: €1.54)

Outlook mid-term
For the mid-term, AkzoNobel aims to expand profitability to deliver an adjusted EBITDA margin of above 16% and a return on investment between 16% and 19%, underpinned by organic growth and industrial excellence. The company aims to lower its leverage to around 2 times in the mid-term, while remaining committed to retaining a strong investment grade credit rating.

More information:
AkzoNobel financial year 2023
Source:

AkzoNobel

Pointcarre integrates Archroma's portfolio of 5,760 colors Photo: Archroma
23.02.2024

Pointcarre integrates Archroma's portfolio of 5,760 colors

Archroma Textile Effects expands the digital textile design and production system (CAD/CAM) Pointcarre with its entire portfolio of 5,760 colors.

Pointcarre Textile Software enables fashion, home furnishing and technical textiles designers to create accurate digital samples, streamline the fabric weaving, knitting and printing processes, and produce realistic presentations of their collections.

Incorporating the Archroma color portfolio into this workflow will allow designers to bring their ideas to life with greater speed and accuracy. They will not only have access to a vast searchable library of Archroma colors, but they will also be better able to produce the exact color they need at the factory.

All of the Archroma color references can be formulated with dyes that meet leading international eco-standards and the brand customer’s desired sustainability profile.

To support customers to optimize the potential of the new color library, Pointcarre is offering new interactive e-learning modules on its Academy training platform, as well as assistance in several languages.

Archroma Textile Effects expands the digital textile design and production system (CAD/CAM) Pointcarre with its entire portfolio of 5,760 colors.

Pointcarre Textile Software enables fashion, home furnishing and technical textiles designers to create accurate digital samples, streamline the fabric weaving, knitting and printing processes, and produce realistic presentations of their collections.

Incorporating the Archroma color portfolio into this workflow will allow designers to bring their ideas to life with greater speed and accuracy. They will not only have access to a vast searchable library of Archroma colors, but they will also be better able to produce the exact color they need at the factory.

All of the Archroma color references can be formulated with dyes that meet leading international eco-standards and the brand customer’s desired sustainability profile.

To support customers to optimize the potential of the new color library, Pointcarre is offering new interactive e-learning modules on its Academy training platform, as well as assistance in several languages.

More information:
Archroma Pointcarre CAD/CAM Software
Source:

Archroma

19.02.2024

Lectra: Financial statements for 2023

  • Revenues: 477.6 million euros (-6%)
  • EBITDA before non-recurring items: 79.0 million euros (-15%)
  • Net income: 32.6 million euros (-26%)
  • Free cash flow before non-recurring items: 45.3 million euros
  • Dividend: €0.36 per share

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2023. Audit procedures have been performed by the Statutory Auditors.

Currency changes between 2022 and 2023 mechanically decreased revenues and EBITDA before non-recurring items by 3.9 million euros (-3%) and 1.7 million euros (-8%) respectively in Q4, and by 11.2 million euros (-2%) and 4.8 million euros (-6%) respectively in the year, at actual exchange rates compared to like-for-like figures.

  • Revenues: 477.6 million euros (-6%)
  • EBITDA before non-recurring items: 79.0 million euros (-15%)
  • Net income: 32.6 million euros (-26%)
  • Free cash flow before non-recurring items: 45.3 million euros
  • Dividend: €0.36 per share

Lectra’s Board of Directors, chaired by Daniel Harari, reviewed the consolidated financial statements for the fiscal year 2023. Audit procedures have been performed by the Statutory Auditors.

Currency changes between 2022 and 2023 mechanically decreased revenues and EBITDA before non-recurring items by 3.9 million euros (-3%) and 1.7 million euros (-8%) respectively in Q4, and by 11.2 million euros (-2%) and 4.8 million euros (-6%) respectively in the year, at actual exchange rates compared to like-for-like figures.

OUTLOOK
While the 2023 full-year results were affected by the adverse environment, they also attest to the substantial improvement in the fundamentals of the Group's business model, which will have a positive impact on 2024 results. Persistent macroeconomic and geopolitical uncertainties could nevertheless continue to weigh on investment decisions by the Group's customers.

While the most recent indicators seem to suggest that the situation is unlikely to deteriorate further, the timing and magnitude of a rebound in new system orders remain uncertain.

Outlook for 2024
To facilitate analysis, the accounts of Lectra excluding the Launchmetrics acquisition ("Lectra 2023 Scope") will be analysed separately from the Launchmetrics accounts in 2024.

The Group has based its 2024 objectives on the exchange rates in effect on December 29, 2023, in particular $1.10/€1. When converting 2023 results using the exchange rates retained for 2024, 2023 revenues are mechanically reduced by 4.7 million euros (to 472.9 million euros) and 2023 EBITDA before non-recurring items is reduced by 2.2 million euros (to 76.8 million euros). Thus, for the Lectra 2023 Scope, the comparisons between 2024 and 2023 printed below are based on constant exchange rates.

At this early stage of 2024, continuing low visibility regarding orders and revenues from new systems makes it impossible to predict the actual timing and scale of the future rebound in this area. On the other hand, visibility is high for recurring revenues, which accounted for 68% of total revenues in 2023 and will continue to grow in 2024.

In light of the above, Lectra has set as its objective for 2024, for the Lectra 2023 Scope, to achieve revenues in the range of 480 to 530 million euros (+2% to +12%) and EBITDA before non-recurring items in the range of 85 to 107 million euros (+10% to +40%).

The low end of the revenues range is based on the absence of a rebound in new systems orders, which would remain stable in 2024 relative to 2023, with a 6% decline in revenues from perpetual software licenses, equipment and accompanying software and non-recurring services, as the order backlog was lower on December 31, 2023 than a year before.

The high end of the revenues range reflects a gradual rebound in new systems orders, which at year-end 2024 would be back to year-end 2022 level.
 
In addition, Launchmetrics revenues (for the consolidation period from January 23 to December 31) are projected to be in the range of 42 to 46 million euros, with an EBITDA margin before non-recurring items of more than 15% (assuming an exchange rate of $1.10/€1).