From the Sector

all
Corona
Sustainable
Textile Business
Textile Machinery
Fibres, Yarns & Nonwovens
Technical Textiles
Interior Textiles
Clothing
Companies
Fairs
Trade
Associations
People
Archive
Reset
654 results
28.02.2024

AkzoNobel: Nominations for Supervisory Board

AkzoNobel has announced that Mrs. Jaska de Bakker, Mrs. Ute Wolf and Mr. Wouter Kolk will be nominated for appointment to the company’s Supervisory Board, while Mr. Byron Grote – currently Deputy Chair and Chair of the Audit Committee – will be nominated for a fourth term of one year.

Mrs. De Bakker is a financial leader with experience in strategy, governance and ESG. Currently a board member at various companies, she was previously CFO at Royal FrieslandCampina and at Royal HaskoningDHV.
 
Mrs. Wolf is a seasoned finance professional with more than 25 years of experience in financial management and corporate planning. She served as CFO of Evonik Industries AG for ten years and, prior to that, she held several senior positions within various industries and companies.
 
Mr. Kolk is the current CEO of Ahold Delhaize Europe and Indonesia. With more than 32 years of experience in commercial, operational, supply chain, strategic and general management roles, he brings a wealth of knowledge in different geographies and businesses.

AkzoNobel has announced that Mrs. Jaska de Bakker, Mrs. Ute Wolf and Mr. Wouter Kolk will be nominated for appointment to the company’s Supervisory Board, while Mr. Byron Grote – currently Deputy Chair and Chair of the Audit Committee – will be nominated for a fourth term of one year.

Mrs. De Bakker is a financial leader with experience in strategy, governance and ESG. Currently a board member at various companies, she was previously CFO at Royal FrieslandCampina and at Royal HaskoningDHV.
 
Mrs. Wolf is a seasoned finance professional with more than 25 years of experience in financial management and corporate planning. She served as CFO of Evonik Industries AG for ten years and, prior to that, she held several senior positions within various industries and companies.
 
Mr. Kolk is the current CEO of Ahold Delhaize Europe and Indonesia. With more than 32 years of experience in commercial, operational, supply chain, strategic and general management roles, he brings a wealth of knowledge in different geographies and businesses.

Subject to the approval of his re-appointment, Mr. Grote will lead the supervision of the external auditor selection process, whereby the external audit firm of AkzoNobel will be replaced, starting with the audit of the 2026 financial statements. His re-appointment also ensures continuity during the change of the PWC lead partner in charge of the AkzoNobel account, as of the audit of the 2024 financial statements.  

The appointments and re-appointment will be put to shareholders for approval at the Annual General Meeting being held on April 25. Mrs. Pam Kirby, who is completing her second four-year term, will step down as member of the Supervisory Board as per the same date.

More information:
AkzoNobel Supervisory Board general meeting
Source:

AkzoNobel

print close
more
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

print close
more
60th anniversary of Eltex of Sweden AB (c) Eltex of Sweden
21.02.2024

60th anniversary of Eltex of Sweden AB

Eltex of Sweden, a pioneer in the adoption of electronic sensors by the weaving machinery industry, is marking its 60th anniversary this month.

The electronic detection of broken or missing weft yarns during production was the problem Eltex founders Åke Rydborn and Ragnar Henriksson set out to solve with the development of the world’s first electronic weft-stop-motion. Its potential was recognised on its introduction at the 1963 ITMA exhibition in Hannover, Germany, leading to the foundation of the company in a modest 12-square-metre workshop in Älmhult, Sweden, in February 1964.

Eltex of Sweden, a pioneer in the adoption of electronic sensors by the weaving machinery industry, is marking its 60th anniversary this month.

The electronic detection of broken or missing weft yarns during production was the problem Eltex founders Åke Rydborn and Ragnar Henriksson set out to solve with the development of the world’s first electronic weft-stop-motion. Its potential was recognised on its introduction at the 1963 ITMA exhibition in Hannover, Germany, leading to the foundation of the company in a modest 12-square-metre workshop in Älmhult, Sweden, in February 1964.

By 1968 the company was operating from a modern 3,000-square-metre plant and beginning to establish a global presence, introducing the first all-in-one printed circuit board (PCB) for its sensor systems in 1971. As exports increased, further Eltex operations were established in the USA and Ireland and the company expanded its product range including energy control devices, temperature and humidity loggers, food handling safety systems, and military grade battery chargers. Further textile milestones in parallel to advances in weaving technology included optical arrival detectors for air-jet weaving machines at the beginning of the 1980s, and the QTV system for warp preparation, which introduced digital stop-motion control to the industry at the start of the 1990s. In 2009, the company branched out into carpet tufting, first with the CoTS clamp-on tube sensor for tufting machines, followed by the Compact sensor for tufting machines in 2013. In 2019 the Compact II further cemented the company’s position in this sector.

Newly developed Eltex EyETM and ACT-R
Most recently, Eltex has launched the Eltex EyETM system for the monitoring of yarn tension on warp beams. Not only does it eliminate problems when warping, but also in the subsequent weaving or tufting processes. Eltex EyETM monitors the yarn tension on all positions in real-time and a minimum and maximum allowable tension value can be set. If any yarn’s tension falls outside these values the operator can be warned or the machine stopped.

The Eltex ACT and ACT-R units meanwhile go beyond yarn tension monitoring to actually control yarn tension. This extends the application range greatly. The plug and play system automatically compensates for any differences in yarn tension that arise, for example from irregularities in yarn packages.

Eltex has been owned by Brian Hicks, Seamus O’Dwyer and Jonathan Bell since 2007, following a management buy-out and the subsequent formation of Eltex Global Holdings in Ireland. Today, its head office, Eltex of Sweden AB, is in Osby, Sweden where it provides research and development, administration and global sales for the group. Eltex Manufacturing in Ireland is now the group’s primary production facility and Eltex US, Inc. provides sales and service for North America.

More information:
Eltex Eltex of Sweden AB weaving machinery
Source:

Eltex of Sweden

print close
more
Mohammed Ben Sulayem, FIA President. Ahmet Mercan, CEO of AlphaTauri. Photo: AlphaTauri
Mohammed Ben Sulayem, FIA President. Ahmet Mercan, CEO of AlphaTauri.
20.02.2024

AlphaTauri becomes the first Official Clothing Partner of the FIA

In the first partnership of its kind, AlphaTauri has joined with the governing body for world motorsport, the Fédération Internationale de l'Automobile (FIA), to become their official clothing partner.

Over this significant three-year partnership, AlphaTauri will equip all FIA staff with clothing and accessories, redefining how style and convenience intertwine with the world of motorsport. AlphaTauri will also be the official partner of the FIA Prize Giving Ceremony that is held once a year to honour the champions from every major branch of motorsports in a star-studded event. This strategic collaboration aligns two organisations that are deeply committed to innovation.

The partnership between FIA and AlphaTauri represents a fusion of automotive technology, high fashion, and the pursuit of excellence. It will transform the way FIA staff experience their roles while ensuring they maintain a distinctive and stylish presence.

In the first partnership of its kind, AlphaTauri has joined with the governing body for world motorsport, the Fédération Internationale de l'Automobile (FIA), to become their official clothing partner.

Over this significant three-year partnership, AlphaTauri will equip all FIA staff with clothing and accessories, redefining how style and convenience intertwine with the world of motorsport. AlphaTauri will also be the official partner of the FIA Prize Giving Ceremony that is held once a year to honour the champions from every major branch of motorsports in a star-studded event. This strategic collaboration aligns two organisations that are deeply committed to innovation.

The partnership between FIA and AlphaTauri represents a fusion of automotive technology, high fashion, and the pursuit of excellence. It will transform the way FIA staff experience their roles while ensuring they maintain a distinctive and stylish presence.

More information:
AlphaTauri FIA Fédération Internationale de l'Automobile
Source:

AlphaTauri

print close
more
silk Bild: LoggaWiggler, Pixabay
15.02.2024

Haelixa and Trudel Silk: New Partnership

Haelixa, the trailblazer of physical traceability solutions, has partnered with Trudel Silk, a market leader for sustainable organic and recycled silk products. This collaboration brings traceability and transparency to silk production.

Silk is one of the finest and smoothest fabrics; the better the quality of the silk, the more luxurious it feels to the touch. To create the best quality silk, the conditions for mulberry cultivation must be up to the highest standards. A healthy micro-ecosystem in the fields translates to top-grade silk cocoon quality. At Trudel, this is the environment they have created for the vertical integration of their business. Trudel aims to succeed at every stage of the process, which can only be accomplished through the active involvement and visible cooperation of all market players. These players include farmers, reeling mills, twisting/spinning mills, weaving mills, dyeing and printing mills, and brands. They are involved in every step, from the cultivation of mulberry trees to the production of silk fabrics.

Haelixa, the trailblazer of physical traceability solutions, has partnered with Trudel Silk, a market leader for sustainable organic and recycled silk products. This collaboration brings traceability and transparency to silk production.

Silk is one of the finest and smoothest fabrics; the better the quality of the silk, the more luxurious it feels to the touch. To create the best quality silk, the conditions for mulberry cultivation must be up to the highest standards. A healthy micro-ecosystem in the fields translates to top-grade silk cocoon quality. At Trudel, this is the environment they have created for the vertical integration of their business. Trudel aims to succeed at every stage of the process, which can only be accomplished through the active involvement and visible cooperation of all market players. These players include farmers, reeling mills, twisting/spinning mills, weaving mills, dyeing and printing mills, and brands. They are involved in every step, from the cultivation of mulberry trees to the production of silk fabrics.

Haelixa and Trudel have collaborated to improve silk’s robust and consistent traceability. As the demand for validation of the silk value chain increases, they have partnered with groups from Italy and Asia to develop a unique solution that uses DNA markers to trace the entire supply chain of silk production. This innovative approach ensures each silk product’s ethical sourcing.

The silk fibers used in their spun silk yarns are marked with a specific DNA per farm set selected by Trudel. Throughout the supply chain, samples of yarn, fabrics, and finished products undergo testing to verify the presence of original silk fibers. Based on the reporting, the brand can trace the finished accessories or garments to Trudel.

 

More information:
Haelixa Silk Road DNA marker
Source:

Haelixa

print close
more
adidas: Partnership with Boys & Girls Clubs (c) adidas
14.02.2024

adidas: Partnership with Boys & Girls Clubs of America

Building upon an existing three-year relationship with Boys & Girls Clubs of America, adidas announced a formal two-year agreement with the nation's largest youth development organization as part of both parties’ efforts to spread the joy of sport to kids and teens in all communities across the nation. By coming together to help drive substantive, long-lasting impact, the partnership will serve as a reminder that through sport, we have the power to change lives.

Over the course of the two-year partnership, adidas will grant $1 million to Boys & Girls Clubs of America to allocate across Clubs representing majority under-resourced Black and Latinx communities in more than a dozen U.S. cities, including New York, Los Angeles and Atlanta. Participating Clubs will receive funding to provide kids and teens with sport, wellness, education and e-sports programming.

Building upon an existing three-year relationship with Boys & Girls Clubs of America, adidas announced a formal two-year agreement with the nation's largest youth development organization as part of both parties’ efforts to spread the joy of sport to kids and teens in all communities across the nation. By coming together to help drive substantive, long-lasting impact, the partnership will serve as a reminder that through sport, we have the power to change lives.

Over the course of the two-year partnership, adidas will grant $1 million to Boys & Girls Clubs of America to allocate across Clubs representing majority under-resourced Black and Latinx communities in more than a dozen U.S. cities, including New York, Los Angeles and Atlanta. Participating Clubs will receive funding to provide kids and teens with sport, wellness, education and e-sports programming.

adidas will also contribute additional funds to Boys & Girls Clubs of America through optional round-up donations from consumers at adidas locations throughout the U.S. Through these round-up efforts over the course of the last three years, adidas has generated nearly $2 million in funding for Boys & Girls Clubs of America and expects this route to unlock additional possibilities for young people across the country.

adidas’ support for Boys & Girls Clubs of America is part of the brand’s promise to invest $120 million to empower Black and Latinx communities in the U.S. through 2025. Other investments under the Creating Lasting Change Now effort include Cultivate & B.L.O.O.M., now titled, adidas Community LAB, an accelerator program for social entrepreneurs of color, and sustained funding for S.E.E.D. (School for Experiential Education in Design), a strategic pipeline to welcome diverse talent into the brand and the design industry.

More information:
adidas adidas AG Sportswear USA
Source:

adidas AG

print close
more
07.02.2024

Rieter wins Patent Dispute in China

In a judgment in December 2023, the Supreme People’s Court of the People’s Republic of China ruled in favor of Rieter in a legal dispute. The case concerned the infringement of a Rieter patent by a competitor’s draw frame. Rieter protects its innovations with patents and registered designs and consistently takes action against infringements of its intellectual property.

Rieter draw frames are known for their stable operation with high sliver quality and productivity. Scanning precision and autoleveling dynamics ensure outstanding sliver evenness and thus the production of high-quality yarns. Draw frames have also been the subject of a patent litigation by Rieter in China at various levels of jurisdiction. Rieter had sued a competitor for unauthorized use of its patented draw frame technology.

In the summer of 2022, the Shanghai Intellectual Property Court confirmed the patent infringement identified by Rieter and prohibited the accused competitor from continuing to use Rieter’s patented technology. The infringing party was also ordered to pay damages to Rieter.

In a judgment in December 2023, the Supreme People’s Court of the People’s Republic of China ruled in favor of Rieter in a legal dispute. The case concerned the infringement of a Rieter patent by a competitor’s draw frame. Rieter protects its innovations with patents and registered designs and consistently takes action against infringements of its intellectual property.

Rieter draw frames are known for their stable operation with high sliver quality and productivity. Scanning precision and autoleveling dynamics ensure outstanding sliver evenness and thus the production of high-quality yarns. Draw frames have also been the subject of a patent litigation by Rieter in China at various levels of jurisdiction. Rieter had sued a competitor for unauthorized use of its patented draw frame technology.

In the summer of 2022, the Shanghai Intellectual Property Court confirmed the patent infringement identified by Rieter and prohibited the accused competitor from continuing to use Rieter’s patented technology. The infringing party was also ordered to pay damages to Rieter.

The culpable competitor then appealed the decision of the Shanghai court to the Supreme People’s Court of the People’s Republic of China.

In December 2023, the Supreme Court of China in Beijing upheld the Shanghai decision, confirming that the patent had been infringed. As a result, Rieter’s competitor is prohibited from selling the infringing machine types and is required to pay the damages determined by the court.

This Supreme Court decision represents a major success for Rieter in defending its proprietary technologies in China. It is further proof that foreign companies can effectively defend their intellectual property in China.

As the technology leader in spinning machinery manufacturing, Rieter invests around 5% of its turnover annually in research and development. Rieter protects its innovative products with patents and registered designs and takes consistent action against infringements of industrial property rights.

More information:
legal dispute patent China
Source:

Rieter AG

print close
more
05.02.2024

Launch of ERCA Textile Chemical Solutions

In January 2024, ERCA Textile Chemical Solutions TCS was launched as an independent entity within the ERCA Group.

The decision to make ERCA TCS a separate company stems from the desire to focus exclusively on solutions for the textile industry and to build an agile entity oriented towards responsible research and production, while continuing to leverage a solid productive and financial background from ERCA S.p.A.

ERCA TCS aims to be the unique and innovative point of reference for textile companies in terms of products and services specifically designed for the needs of a sector that is currently facing challenges and opportunities related to sustainability and responsible production.

In January 2024, ERCA Textile Chemical Solutions TCS was launched as an independent entity within the ERCA Group.

The decision to make ERCA TCS a separate company stems from the desire to focus exclusively on solutions for the textile industry and to build an agile entity oriented towards responsible research and production, while continuing to leverage a solid productive and financial background from ERCA S.p.A.

ERCA TCS aims to be the unique and innovative point of reference for textile companies in terms of products and services specifically designed for the needs of a sector that is currently facing challenges and opportunities related to sustainability and responsible production.

ERCA TCS bases its activity on the principles of "green chemistry" to offer the textile industry chemical solutions that make concrete the concepts of safety, performance, and circularity. Its flagship product - REVECOL® - is born from critical waste materials (used vegetable oils) and present in abundance, which through a process attentive to environmental compatibility and safety, are transformed into a line of innovative, certified, high-performance chemical auxiliaries usable by the entire textile industry.

ERCA Group has six plants in three macro-regions: Europe, Latin America, and Asia and produces chemical specialties and auxiliaries with an approach of responsible innovation. Its production covers several markets: textile, cosmetics, polyurethanes, concrete. It has a turnover of 150 million euros and employs 350 people worldwide, 100 of whom are in the sole Grassobbio plant.

More information:
ERCA ERCA Textile Chemical Solutions chemicals
Source:

ERCA Textile Chemical Solutions (ERCA Group)

print close
more
05.02.2024

ECHA: Strategic goals for 2024-2028

The European Chemicals Agency (ECHA) has published its Strategy Statement 2024-2028. The strategy details the agency’s goals and priorities over the next five years to protect health and the environment through its work for chemical safety.

Main elements of the Strategy – Goals and Priorities

Be a trusted chemicals agency – ECHA aims to achieve this by delivering its legal mandate using independent expertise and robust data. The Agency, to support this, will:

  • Deliver transparent, independent, and high-quality scientific advice, opinions, and decisions;
  • Enhance decision and policy making through optimal use of data, knowledge, and competence; and
  • Facilitate the prioritisation and co-ordination of regulatory actions on substances and groups of substances with the European Commission (EC), EU agencies and Member State Authorities.

 
Respond to emerging challenges and changes in their legal landscape – ECHA will prepare for new tasks and inform EU chemical and environmental policy. To support this goal, it will focus on the following priorities:

The European Chemicals Agency (ECHA) has published its Strategy Statement 2024-2028. The strategy details the agency’s goals and priorities over the next five years to protect health and the environment through its work for chemical safety.

Main elements of the Strategy – Goals and Priorities

Be a trusted chemicals agency – ECHA aims to achieve this by delivering its legal mandate using independent expertise and robust data. The Agency, to support this, will:

  • Deliver transparent, independent, and high-quality scientific advice, opinions, and decisions;
  • Enhance decision and policy making through optimal use of data, knowledge, and competence; and
  • Facilitate the prioritisation and co-ordination of regulatory actions on substances and groups of substances with the European Commission (EC), EU agencies and Member State Authorities.

 
Respond to emerging challenges and changes in their legal landscape – ECHA will prepare for new tasks and inform EU chemical and environmental policy. To support this goal, it will focus on the following priorities:

  • Implement new legal requirements using existing and new synergies and experience;
  • Work with relevant EU agencies and bodies to deliver Chemical Strategy for Sustainability (CSS) actions and objectives; and
  • Provide scientific and technical advice on chemicals to EU policy makers.

 
Communicate and Engage – by collaborating with stakeholders and partners, ECHA will strengthen public confidence in chemicals regulation. In support of this goal, the Agency will:

  • Deepen their network of engagement with EU institutions and agencies and Member States;
  • Collaborate and provide tools, advice, and support to industry; and
  • Promote awareness and understanding of ECHA's work to stakeholders representing workers, the public and the environment.

 
Lead on chemical knowledge and expertise – the Agency will advance knowledge and understanding on chemical safety. To achieve this, it will:

  • Contribute proactively to expanding scientific and technical competence and knowledge on chemical safety;
  • Promote the development and use of alternative methods for the assessment of hazards and risks of chemicals; and
  • Support the EC to enhance engagement and synergies at international level.

 
Invest in people and organisational excellence – ECHA is committed to working together to achieve their vision. In order to achieve this they will:

  • Develop and empower their people for success;
  • Create optimal ways of working for the Agency, its bodies, its people, and the environment; and
  • Adopt an IT delivery model that is cost-effective, streamlined, modular, interoperable, cloud based and centralised.
More information:
ECHA European Chemicals Agency strategy chemicals
Source:

European Chemicals Agency

print close
more
05.02.2024

Solvay: Educational alliance with MIT and Fermi High School

Solvay awarded a scholarship to facilitate an educational alliance between the Massachusetts Institute of Technology (MIT) and Fermi High School in Cecina. The initiative unfolded during an event held at Solvay's Rosignano site in Italy, providing a platform for students and faculty. Through this partnership, 200 Fermi High School students participated in STEM* and digital lessons from MIT's Global Teaching Labs project, emphasizing the teaching of scientific disciplines by the American university.

Beyond the scholarship award ceremony, students received a tour of Solvay's factory in Rosignano. The tour highlighted the company's dedication to safety, sustainability, and bridging the gap between academia and industry challenges. The experience illustrated the practical application of academic studies in an industrial context, showcasing Solvay's advanced control procedures, safety protocols, technological innovations, digital transformation efforts, and sustainability measures.

Solvay awarded a scholarship to facilitate an educational alliance between the Massachusetts Institute of Technology (MIT) and Fermi High School in Cecina. The initiative unfolded during an event held at Solvay's Rosignano site in Italy, providing a platform for students and faculty. Through this partnership, 200 Fermi High School students participated in STEM* and digital lessons from MIT's Global Teaching Labs project, emphasizing the teaching of scientific disciplines by the American university.

Beyond the scholarship award ceremony, students received a tour of Solvay's factory in Rosignano. The tour highlighted the company's dedication to safety, sustainability, and bridging the gap between academia and industry challenges. The experience illustrated the practical application of academic studies in an industrial context, showcasing Solvay's advanced control procedures, safety protocols, technological innovations, digital transformation efforts, and sustainability measures.

Discussions during the event included key sustainability topics such as water conservation, energy efficiency, waste management, and Solvay's commitment to promoting a balanced work-life culture and diversity within the workplace.

This collaboration aligns with Solvay's global Corporate Citizenship program. Through this program, Solvay supports individuals and communities, channeling efforts to tackle worldwide societal challenges through strategic investments in education, sustainability, and local community initiatives.

*STEM stands for science, technology, engineering and mathematics

More information:
Solvay Massachusetts Institute of Technology MIT Education
Source:

Solvay

print close
more
26.01.2024

Lenzing: Impairment requirements (EBIT) for the financial year 2023

  • EBITDA of around EUR 300 million expected for 2023
  • Non-cash impairment losses of up to EUR 480 million
  • Implementation of the performance program fully on track

The annual valuation of assets in accordance with IFRS for the entire Lenzing Group both nationally in Austria and internationally, has resulted in a projected asset impairment of up to EUR 480 million for the 2023 financial year.1 The reasons for the impairment requirements are, on the one hand, continued uncertainties in the economic environment and, on the other hand, still increased raw material and energy costs as well as a higher interest rate environment.

The impairment losses are non-cash effective and have no impact on the full-year EBITDA for 2023, but do affect EBIT for the 2023 financial year. The Managing Board is specifying the previous earnings forecast for the 2023 financial year (EBITDA: EUR 270 – 330 million) and expects an EBITDA of around EUR 300 million.

  • EBITDA of around EUR 300 million expected for 2023
  • Non-cash impairment losses of up to EUR 480 million
  • Implementation of the performance program fully on track

The annual valuation of assets in accordance with IFRS for the entire Lenzing Group both nationally in Austria and internationally, has resulted in a projected asset impairment of up to EUR 480 million for the 2023 financial year.1 The reasons for the impairment requirements are, on the one hand, continued uncertainties in the economic environment and, on the other hand, still increased raw material and energy costs as well as a higher interest rate environment.

The impairment losses are non-cash effective and have no impact on the full-year EBITDA for 2023, but do affect EBIT for the 2023 financial year. The Managing Board is specifying the previous earnings forecast for the 2023 financial year (EBITDA: EUR 270 – 330 million) and expects an EBITDA of around EUR 300 million.

Stephan Sielaff, Chief Executive Officer of the Lenzing Group: “In the third quarter of 2023, we responded to the persistently difficult market environment and launched a comprehensive performance program, which we have been consistently implementing since then with a focus on positive free cash flow and stronger sales and margin growth. We can therefore confirm our earnings forecast with an EBITDA of around EUR 300 million. The valuation adjustment in accordance with IFRS does not change the strategic orientation of the Lenzing Group.”

Nico Reiner, Chief Financial Officer, adds: “The implementation of the performance program is going according to plan. In the future, cost measures alone are expected to contribute more than EUR 100 million to earnings annually, of which more than EUR 50 million will already be effective for the 2024 financial year. We are on target, particularly in terms of strengthening free cash flow, and we also achieved positive free cash flow in the fourth quarter. The revaluation of assets is now consistent and the right step for the future direction.”

The 2023 annual results will be presented on March 15, 2024.
 

1 Subject to potential changes resulting from the ongoing financial audit

More information:
Lenzing financial year 2023 financing
Source:

Lenzing AG

print close
more
25.01.2024

Archroma and Sanitized AG enhancing collaboration in marketing, sales, and technology

Archroma proudly announced the continuation of its longstanding partnership with SANITIZED AG, marking collaborative success in the textile industry. This enduring alliance has been a cornerstone in driving innovation and setting industry standards, particularly for odor and hygiene management within the home textiles and apparel industry.

Archroma, one of the best chemical suppliers in the markets, further solidifies its position through the acquisition of Huntsman’s Textile Effects division in February 2023.

The acquisition enabled Archroma to broaden its global reach and technical expertise. Paired with our strong expertise in freshness additives, we enhance our marketing teams for joint communication, enhance the salesforce in the regions and strengthen our innovation force to drive the industry towards more sustainable solutions,” says Michael Lüthi, CEO of SANITIZED AG.

Archroma proudly announced the continuation of its longstanding partnership with SANITIZED AG, marking collaborative success in the textile industry. This enduring alliance has been a cornerstone in driving innovation and setting industry standards, particularly for odor and hygiene management within the home textiles and apparel industry.

Archroma, one of the best chemical suppliers in the markets, further solidifies its position through the acquisition of Huntsman’s Textile Effects division in February 2023.

The acquisition enabled Archroma to broaden its global reach and technical expertise. Paired with our strong expertise in freshness additives, we enhance our marketing teams for joint communication, enhance the salesforce in the regions and strengthen our innovation force to drive the industry towards more sustainable solutions,” says Michael Lüthi, CEO of SANITIZED AG.

With a focus on strategic development, Archroma and SANITIZED AG aim to reinforce mills and brands in elevating their products by adding the value of freshness to their products and providing high-quality effects. This collaboration offers customers a flexible package, completed with application support through technical service and expertise, along with access to a strong product portfolio. Notably, the partners are ready to lead market trends and transformations, particularly in freshness finishes, ensuring their collective success in the dynamic landscape.

More information:
Archroma Sanitized AG Sanitized
Source:

Archroma

print close
more
Patrick Strumpf - CEO Photo: Haelixia
Patrick Strumpf - CEO
19.01.2024

Haelixa: new CEO and new member to Board of Directors

Haelixa, a provider of physical traceability solutions, announceed the appointment of a new CEO, Patrick Strumpf, and the addition of Stefan Karlen to the Board of Directors. These positions shall mark a significant step in Haelixa’s mission to advance the growth of supply chain transparency solutions and drive positive change in the industry.

Patrick Strumpf joins Haelixa as its new CEO; he has over 20 years of experience building and scaling up businesses. Thanks to his strong entrepreneurial background, he has excelled in various manufacturing, distribution, and retail roles. Strumpf’s proven leadership, commercial acumen and strong customer focus will ensure the company keeps pushing its boundaries and attains even greater heights of success. “I am excited about the Haelixa traceability solution. It sets the highest standards and delivers outstanding advantages to brands and manufacturers who position themselves as innovation leaders, especially regarding compliance and credibility issues.”

Haelixa, a provider of physical traceability solutions, announceed the appointment of a new CEO, Patrick Strumpf, and the addition of Stefan Karlen to the Board of Directors. These positions shall mark a significant step in Haelixa’s mission to advance the growth of supply chain transparency solutions and drive positive change in the industry.

Patrick Strumpf joins Haelixa as its new CEO; he has over 20 years of experience building and scaling up businesses. Thanks to his strong entrepreneurial background, he has excelled in various manufacturing, distribution, and retail roles. Strumpf’s proven leadership, commercial acumen and strong customer focus will ensure the company keeps pushing its boundaries and attains even greater heights of success. “I am excited about the Haelixa traceability solution. It sets the highest standards and delivers outstanding advantages to brands and manufacturers who position themselves as innovation leaders, especially regarding compliance and credibility issues.”

Stefan Karlen joins Haelixa’s Board of Directors; he brings over 30 years of experience in the supply chain industry, having served as the Group CEO of Panalpina, one of the world’s leading freight forwarding and logistics companies. With his deep understanding of global supply chains and expertise in building solid teams, Karlen will provide valuable insights to Haelixa’s Board of Directors. His track record of driving innovation is instrumental in shaping the company’s strategic direction. “I am passionate about environmental responsibility and bringing positive change”, said Karlen. He added, “I identify with Haelixa’s values and am excited to leverage my skills to a company that prioritises sustainability and integrity.”

Stefan Karlen - Board of Directors Photo: Haelixia
More information:
Haelixa CEO Board of Directors
Source:

Haelixia

print close
more
17.01.2024

Everfield acquires Swedish software specialist for commercial laundry industry

Software group Everfield has acquired the Swedish software reseller “SoCom Scandinavia AB” (SoCom Scandinavia). The previously independent reseller is now a subsidiary of German “SoCom Informationssysteme GmbH” (SoCom), which Everfield acquired early 2023. SoCom Scandinavia distributes SoCom’s ERP system for the commercial laundry industry in Scandinavia. SoCom is among Europe’s leading providers in this segment and with this acquisition is further expanding its market position in the Nordic countries.

Software group Everfield has acquired the Swedish software reseller “SoCom Scandinavia AB” (SoCom Scandinavia). The previously independent reseller is now a subsidiary of German “SoCom Informationssysteme GmbH” (SoCom), which Everfield acquired early 2023. SoCom Scandinavia distributes SoCom’s ERP system for the commercial laundry industry in Scandinavia. SoCom is among Europe’s leading providers in this segment and with this acquisition is further expanding its market position in the Nordic countries.

“By acquiring SoCom Scandinavia, we have successfully completed the first so-called bolt-on acquisition for one of our portfolio companies”, says Oscar Koberling, Acquisitions Manager at Everfield. In a bolt-on acquisition, the company being purchased is integrated into an existing portfolio company. “We focus on long-term sustainable growth and work closely with the management of our portfolio companies to identify the right targets”, Koberling highlights. “With the addition of SoCom Scandinavia, SoCom can now further strengthen the sales and support in this region and thereby continue to foster growth in Scandinavia.” With its Enterprise Resource Planning (ERP) software “TIKOS”, the German software developer SoCom from Krumbach enables laundries of any scale to achieve end-to-end process management.

SoCom Scandinavia distributes the “TIKOS” laundry software in Sweden, Finland, Norway, Denmark and Iceland. The company was founded in 2017 by the sole shareholder Anna Johansson, in close cooperation with the German SoCom Informationssysteme GmbH. “I myself come from the commercial laundry industry and was therefore able to convince myself of the performance and flexibility of the TIKOS software in practice”, says Anna Johansson. “Our success in the past years shows that many laundries in Scandinavia share this assessment. In the future, we will work even more closely with our German colleagues to further expand our market share in the region.”

Johansson and her team will continue to be available to customers at the existing location. “Since establishing SoCom Scandinavia, Anna and her team have already won and supported a plethora of well-known clients for our software”, emphasizes SoCom’s CEO Michael Wieser. “By integrating SoCom Scandinavia, we can streamline our processes even further. Our main goal remains to offer the best possible service to our clients.”

With its steadily growing software and service portfolio, SoCom has been operating in the laundry industry for over thirty years and is a market leader in the German-speaking region. In total, SoCom’s products are used in over 350 laundries across 17 countries.

More information:
Everfield SoCom laundry Software
Source:

möller pr GmbH

print close
more
Photo: The GoodTextiles Foundation
16.01.2024

GoodTextiles Foundation donates library for Indian primary school

The GoodTextiles Foundation has implemented a school library in the local primary school in Tamil Nadu, India. As a result, the children now have unrestricted access to additional literature.

At the PUPS Naranikuppam primary school in Tamil Nadu, the GoodTextiles Foundation has already provided access to separate sanitary facilities and clean drinking water. Now, with the help of the foundation, a school library has also been set up. The GoodTextiles Foundation is supporting the project with a total of €3,900.00, of which €1,425.00 comes from a donation from Dibella, which was realised with the greenhouse gas premium. The remainder was financed with donations already received.

A large selection of books tailored to the age and interests of the pupils was purchased for the library, as well as a shelf and a seating area. With a new Smart TV, the children can now also be introduced to digital media and how to use it. An air conditioning system provides pleasant temperatures to improve learning conditions. The newly tiled floor, new glass windows and a new glass door also improve the building-specific conditions.

The GoodTextiles Foundation has implemented a school library in the local primary school in Tamil Nadu, India. As a result, the children now have unrestricted access to additional literature.

At the PUPS Naranikuppam primary school in Tamil Nadu, the GoodTextiles Foundation has already provided access to separate sanitary facilities and clean drinking water. Now, with the help of the foundation, a school library has also been set up. The GoodTextiles Foundation is supporting the project with a total of €3,900.00, of which €1,425.00 comes from a donation from Dibella, which was realised with the greenhouse gas premium. The remainder was financed with donations already received.

A large selection of books tailored to the age and interests of the pupils was purchased for the library, as well as a shelf and a seating area. With a new Smart TV, the children can now also be introduced to digital media and how to use it. An air conditioning system provides pleasant temperatures to improve learning conditions. The newly tiled floor, new glass windows and a new glass door also improve the building-specific conditions.

The school is located directly next to a sewing company where the single mothers of the pupils work.

In 2016, the textile company Dibella established the GoodTextiles Foundation with the aim of making textile value chains more sustainable. It raises donations and implements its own funding projects to benefit people at all stages of the textile industry.

More information:
The GoodTextiles Foundation GoodTextiles India Dibella
Source:

The GoodTextiles Foundation

print close
more
Devan high cooling Photo: Devan Chemicals
09.01.2024

Devan Chemicals presents latest sustainable textile finishes at Heimtextil 2024

Devan will showcase the newest additions to their R-Vital NTL Range and Thermic High Cooling technology.

R-Vital® NTL enables textile manufacturers to boost their textiles with a range of active, natural ingredients that have a positive effect on the body and mind. Elements such as Chamomile oil and Arnica Montana are absorbed by the skin and have relaxing, moisturizing or hydrating effects. The biobased content of the R-Vital well-being technology is +97%, readily biodegradable (OECD 301B).

R-Vital® NTL Regenight™: Devan and Lucas Meyer Cosmetics join forces to launch a ground-breaking technology, R-Vital NTL Regenight™, a technology which improves sleep quality and also improves nighttime skin recovery. Using an upcycled oil soluble fraction obtained from Australian Tea tree oil distillation process, Regenight™ acts through both inhalation to improve nighttime rest and through topical action to provide skin recovery.

Tested in real-life context using proven biometric technology, the dual action provided individually by Regenight™ proposes a breakthrough approach to reduce the impact of poor-quality sleep on the skin.

Devan will showcase the newest additions to their R-Vital NTL Range and Thermic High Cooling technology.

R-Vital® NTL enables textile manufacturers to boost their textiles with a range of active, natural ingredients that have a positive effect on the body and mind. Elements such as Chamomile oil and Arnica Montana are absorbed by the skin and have relaxing, moisturizing or hydrating effects. The biobased content of the R-Vital well-being technology is +97%, readily biodegradable (OECD 301B).

R-Vital® NTL Regenight™: Devan and Lucas Meyer Cosmetics join forces to launch a ground-breaking technology, R-Vital NTL Regenight™, a technology which improves sleep quality and also improves nighttime skin recovery. Using an upcycled oil soluble fraction obtained from Australian Tea tree oil distillation process, Regenight™ acts through both inhalation to improve nighttime rest and through topical action to provide skin recovery.

Tested in real-life context using proven biometric technology, the dual action provided individually by Regenight™ proposes a breakthrough approach to reduce the impact of poor-quality sleep on the skin.

R-Vital® NTL Chamomile oil: Chamomile oil is known for its moisturizing and soothing properties. Additionally, this oil is believed to have antioxidant and inflammatory properties. Furthermore, chamomile oil is renowned for its calming effects and potential to reduce stress and anxiety, helping improve sleep quality.

R-Vital® NTL Warming: Engineered to deliver a gentle warmth, the R-Vital NTL Warming technology ensures a cozy and comfortable sleeping experience. This blend is a solution that infuses a sense of warmth, promoting physical and emotional well-being.

R-Vital NTL Arnica Montana: Harnessing the natural benefits of Arnica Montana, this ingredient, is celebrated for its potent healing and recovering properties.

At Heimtextil Devan will also present a new high cooling technology that provides an optimal and refreshing sleeping climate, ensuring a cool and restful night's sleep. Thermic High Cooling is based on reactive microencapsulated Phase Change Materials (PCMs). The smart heat exchange mechanism keeps the body within its comfort zone. This makes the body suffer less from night sweats, and results in a longer, healthier and more comfortable sleep with fewer awakenings. This new formulation with high cooling level and high solid content, presents around 30% more cooling than standard PCM formulations. One padding allows to achieve high cooling level (no need to run multiple applications). A Bio-based version is also available - Thermic® Bio, where the PCMs are derived from sustainable, natural sources.

More information:
textile finishing Devan Chemicals NV warmth activated cooling
Source:

Devan Chemicals

print close
more
Stella McCartney X B&B Italia: Launch of iconic sofa system (c) B&B Italia
08.01.2024

Stella McCartney X B&B Italia: Launch of iconic sofa system

B&B Italia unveiled a special edition Camaleonda, the iconic sofa system by Mario Bellini, adorned in a brand-new fabric designed by Stella McCartney – platforming her S-Wave monogram. Marking the second chapter of the partnership between the British conscious luxury pioneer and the Italian design house, the collaboration was launched at Art Basel Miami Beach on 6th December 2023 as part of an installation at B&B Italia Design Studio’s grand opening. The Camaleonda is crafted from nearly entirely sustainable materials, materialising both brands’ nature-positive visions.

The partnership between B&B Italia and Stella McCartney was born of Stella’s long-time personal passion for Bellini’s works and started in 2022 with the Le Bambole armchair. It evolves now with the new version of Camaleonda, the sofa system originally designed in 1970, which made its comeback 50 years later in 2020 - speaking a contemporary language between structural solutions and sustainable choices.

B&B Italia unveiled a special edition Camaleonda, the iconic sofa system by Mario Bellini, adorned in a brand-new fabric designed by Stella McCartney – platforming her S-Wave monogram. Marking the second chapter of the partnership between the British conscious luxury pioneer and the Italian design house, the collaboration was launched at Art Basel Miami Beach on 6th December 2023 as part of an installation at B&B Italia Design Studio’s grand opening. The Camaleonda is crafted from nearly entirely sustainable materials, materialising both brands’ nature-positive visions.

The partnership between B&B Italia and Stella McCartney was born of Stella’s long-time personal passion for Bellini’s works and started in 2022 with the Le Bambole armchair. It evolves now with the new version of Camaleonda, the sofa system originally designed in 1970, which made its comeback 50 years later in 2020 - speaking a contemporary language between structural solutions and sustainable choices.

The brand-new Stella McCartney X B&B Italia Camaleonda introduces the latest printed fabric “S-Wave”, which is the result of a next-generation sustainability innovation introduced by the design company’s R&D team. The S-Wave upholstery, available in two different colours, is based on OceanSafe naNea yarn, which is verified to be biodegradable, Cradle to Cradle Certified® Gold and does not contain harmful substances. The material does not shed persistent microplastics into the environment, however, performs like conventional materials.

More information:
B&B Italia Stella McCartney Interior textiles Sustainability
Source:

B&B Italia

print close
more
Vesta Corporation presented first Sustainability Report (c) Vesta Corporation
05.01.2024

Vesta Corporation: First Sustainability Report

The Tuscan tannery Vesta Corporation has presented to its stakeholders a report outlining its current commitment and future objectives, with a view to innovating, safeguarding and fostering high-end leather material processing.

Ever since it was founded in 1966 in Ponte a Egola, the Tuscan hub for the production of leather for vegetable tanned soles, Vesta has been a supplier and partner of haute couture and sportswear brands, from lightweight calf and half-calf leather, to heavy leathers made with hind and rump hide, for leatherware and shoes.

The Tuscan tannery Vesta Corporation has presented to its stakeholders a report outlining its current commitment and future objectives, with a view to innovating, safeguarding and fostering high-end leather material processing.

Ever since it was founded in 1966 in Ponte a Egola, the Tuscan hub for the production of leather for vegetable tanned soles, Vesta has been a supplier and partner of haute couture and sportswear brands, from lightweight calf and half-calf leather, to heavy leathers made with hind and rump hide, for leatherware and shoes.

To draft this Report, reference was made to the “Global Reporting Initiative Sustainability Reporting Standards” established by the Global Reporting Initiative (GRI). The information in the balance sheet refers to the year 2022 (from 1 January to 31December 2022). Wherever possible, data for the previous year are included, to allow for a comparison of data over time and to assess the trend of Vesta activities. Sustainability is an objective-driven process. This means that comparing data allows for concretely measuring the company’s progress, as it pursues this accounting process year after year.

The improvement actions already implemented by Vesta involve corporate responsibility from an environmental, social and governance perspective. An example are the improved heating and processing plants (which entails the construction of a new tumbling department based on 4.0 technology). This guarantees significant energy, water and economic savings. Along with numerous corporate certifications, the company has passed the Raw Material Traceability test with a score of EXCELLENT, as well as the Carbon and Water footprint analysis.

As confirmation of its commitment to improving corporate performance levels, Vesta has been upgraded from BRONZE (2020) to GOLD in 2023, as assessed by the Leather Working Group (which measures leather manufacturers’ environmental performance for ecological production and for a systemic management of quality, environmental, safety and ethical factors).

Becoming energy-independent is a major step in the pipeline, involving the installation of a photovoltaic plant. This is complemented by the implementation of a project aimed at totally compensating its CO2 emissions for the year subject to accounting and certification. This neutrality will be achieved through the acquisition of credits deriving from projects certified by the United Nations. For example, with the construction of an important hydro-electric plant to which Vesta is contributing. With regard to production, corporate research is currently focused on developing solutions to reduce water and energy use. It is also implementing circular trends by adopting an increasing number of bio-based products, to guarantee the most sustainable end-of-life and waste management for its products.

More information:
Vesta Corporation Leather leatherwear Sustainability Report
Source:

Vesta Corporation

print close
more
KARL MAYER STOLL: CREATE PLUS for production of Knitted traditional clothing (c) Astrifa
03.01.2024

KARL MAYER STOLL: CREATE PLUS for production of Knitted traditional clothing

  • Astrifa GmbH relies on CREATE PLUS for the production of its knitted traditional clothing

Astrifa GmbH was founded in 1948 in Lower Bavaria, moved to its current location in 1953 and began specializing in traditional costume clothing in 1978. The company has around 70 employees and produces around 700 items for men, women and children every week. The finest merino wool from England is processed and the machinery consists exclusively of STOLL machines, in total 17 flat knitting machines, including the latest representatives of the ADF and CMS series. Astrifa also relies on pioneering solutions when it comes to programming the machines: CREATE PLUS is used alongside other patterning systems.

  • Astrifa GmbH relies on CREATE PLUS for the production of its knitted traditional clothing

Astrifa GmbH was founded in 1948 in Lower Bavaria, moved to its current location in 1953 and began specializing in traditional costume clothing in 1978. The company has around 70 employees and produces around 700 items for men, women and children every week. The finest merino wool from England is processed and the machinery consists exclusively of STOLL machines, in total 17 flat knitting machines, including the latest representatives of the ADF and CMS series. Astrifa also relies on pioneering solutions when it comes to programming the machines: CREATE PLUS is used alongside other patterning systems.

The CREATE PLUS software combines a full-featured, advanced programming system with an easy-to-learn user interface, revolutionizing the programming of STOLL flat knitting machines. This has also aroused great interest at ITMA 2023. New versions are released every four months; in addition to many detailed improvements, the current release contains a greatly expanded system for multi-part knitting compared to the previous software and an extensive option for creating reports and statistics.

More information:
Karl Mayer Stoll Stoll flat knitting machine merino wool
Source:

KARL MAYER Verwaltungsgesellschaft mbH

print close
more
20.12.2023

CARBIOS: €1.2M to further optimize its PET depolymerization process

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, has received an initial payment of €1.2 million from the French Agency for Ecological Transition (ADEME) for the OPTI-ZYME research project, carried out in partnership with INRAE2, INSA3 and CNRS4 via the TWB5 joint service and TBI6 research units, a project co-funded by the French State as part of France 2030 operated by ADEME. With CARBIOS' aim to optimize and continuously improve its unique enzymatic PET depolymerization technology, the 4-year7 OPTI-ZYME project aims to investigate the scientific and technical levers for improving the competitiveness of the process, optimizing the necessary investments and reducing its environmental footprint.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, has received an initial payment of €1.2 million from the French Agency for Ecological Transition (ADEME) for the OPTI-ZYME research project, carried out in partnership with INRAE2, INSA3 and CNRS4 via the TWB5 joint service and TBI6 research units, a project co-funded by the French State as part of France 2030 operated by ADEME. With CARBIOS' aim to optimize and continuously improve its unique enzymatic PET depolymerization technology, the 4-year7 OPTI-ZYME project aims to investigate the scientific and technical levers for improving the competitiveness of the process, optimizing the necessary investments and reducing its environmental footprint.

This collaborative R&D program focuses on the technical and economic optimization of process stages, while preserving the quality of the monomers obtained. These optimizations, new developments and the exploration of innovative solutions should enhance the technology's flexibility with regards to incoming waste. Raw materials could come from different sources that are currently rarely or not recycled, notably food trays and textiles, or a mix of incoming materials. It also aims to limit input and water consumption, as well as regenerate or reduce co-products and ultimate residual waste. Finally, it seeks to support enzyme optimization to maximize the process’ economic profitability and competitiveness.

The project therefore aims to achieve an overall improvement in performance, combining efficiency, quality and environmental sustainability, to benefit the Longlaville plant which is currently under construction, and future licensed plants.

In May 2023, CARBIOS, the project leader and coordinator, announced that it had been awarded a total of €11.4M in funding by the French State as part of France 2030, operated by ADEME, including €8.2M directly for CARBIOS (€3.2M in grants and €5M in repayable advances) and €3.2M for its academic partners INRAE, INSA and CNRS (via the TWB mixed service and TBI research units). This funding, which is made up of grants and repayable advances, will be paid out in several instalments over the course of the project, including an initial instalment of 15%, equivalent to €1.2 million, received by CARBIOS on 5 December 2023. The first Monitoring Committee with ADEME for the first key stage of the project will be held in February 2024 to validate the granting of the second instalment of funding.

This project 2282D0513-A is funded by the French State as part of France 2030 operated by ADEME.

More information:
Carbios Funding PET France competitiveness
Source:

Carbios

print close
more