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26.06.2024

TradeBeyond collaborates with Walgreens Boots Alliance (WBA) Global Sourcing

Supply chain management solution provider TradeBeyond announced that Walgreens Boots Alliance (WBA) Global Sourcing has selected its industry-leading multi-enterprise platform to optimize and standardize the company’s operations across its retail brands and to leverage more innovative and agile sourcing practices.

The TradeBeyond platform will be used to manage numerous processes within WBA’s Global Sourcing function, as well as overall sourcing and order management follow up. It will also replace several legacy and redundant systems to create digital efficiencies, unify processes, and facilitate data transparency and integrity.

Implementation has begun on an iterative schedule that will allow WBA Global Sourcing to begin utilizing TradeBeyond’s platform in Fall 2024.

Supply chain management solution provider TradeBeyond announced that Walgreens Boots Alliance (WBA) Global Sourcing has selected its industry-leading multi-enterprise platform to optimize and standardize the company’s operations across its retail brands and to leverage more innovative and agile sourcing practices.

The TradeBeyond platform will be used to manage numerous processes within WBA’s Global Sourcing function, as well as overall sourcing and order management follow up. It will also replace several legacy and redundant systems to create digital efficiencies, unify processes, and facilitate data transparency and integrity.

Implementation has begun on an iterative schedule that will allow WBA Global Sourcing to begin utilizing TradeBeyond’s platform in Fall 2024.

Source:

TradeBeyond

26.06.2024

Archroma awarded for Sustainability Innovation and Community Engagement

Archroma has won awards in two categories at the Just Style 2024 Excellence Awards. It took home two coveted Innovation Excellence awards for its SUPER SYSTEMS+ solutions and AVICUERO® leather tanning process, as well as a Social Excellence award for its longstanding and holistic commitment to community engagement in Baroda, India.

The awards recognize how Archroma is driving change with innovations that advance sustainability and through initiatives that contribute to the socio-economic progress of communities near to its Baroda manufacturing plant.

Innovation Awards
Archroma was recognized for advancing sustainable manufacturing in two Just Style Excellence Awards for Innovation.

SUPER SYSTEMS+ is a comprehensive suite of solutions that addresses the textile industry's key challenges, including water consumption, greenhouse gas emissions, circularity, chemical management and compliance.

Archroma has won awards in two categories at the Just Style 2024 Excellence Awards. It took home two coveted Innovation Excellence awards for its SUPER SYSTEMS+ solutions and AVICUERO® leather tanning process, as well as a Social Excellence award for its longstanding and holistic commitment to community engagement in Baroda, India.

The awards recognize how Archroma is driving change with innovations that advance sustainability and through initiatives that contribute to the socio-economic progress of communities near to its Baroda manufacturing plant.

Innovation Awards
Archroma was recognized for advancing sustainable manufacturing in two Just Style Excellence Awards for Innovation.

SUPER SYSTEMS+ is a comprehensive suite of solutions that addresses the textile industry's key challenges, including water consumption, greenhouse gas emissions, circularity, chemical management and compliance.

By providing end-to-end, fiber-specific solutions that enhance process efficiency and offer intelligent effects, SUPER SYSTEMS+ enables mills and brands to meet their sustainability targets as well as consumer demand for durable products with enhanced functionality and sustainability. With end-to-end solutions from pre-treatment to finishing, SUPER SYSTEMS+ can be deployed without additional investment. With future compliance in mind, the solutions also go beyond current regulations and industry standards to anticipate upcoming restrictions.

Archroma’s AVICUERO® is a system for sustainable leather tanning and dyeing. Developed in collaboration with UK-based leather technology expert Dr Leather, it is both chrome- and metal-free and yet maintains the quality and performance of traditional tanning methods. Tanners enjoy shorter processing times, eliminate the pickling process and reduce salt usage, leading to lower pollution effluent discharge loads. In addition, AVICUERO® can offer energy savings of up to 25% and CO2 emissions reductions of up to 23% compared to traditional chrome tanning.

Social Award for Community Engagement
Archroma has also been recognized for the positive impact it is having on communities in the vicinity of Baroda through multifaceted initiatives that span early childhood development, student scholarships, agricultural education and the empowerment of women.

Archroma recently set up an Anganwadi Centre to provide a range of services in the community, including nutrition and health education and pre-school learning. It also runs a scholarship program for students in vocational training, helping to create a skilled talent pool for the region. Archroma is also collaborating with a local NGO to empower farmers with modern agricultural methods and insights.

The building of a Household Biogas Plant in Umraya village is another example of Archroma's sustainable initiatives. The conversion of manure into clean renewable energy by the plant tackles several issues, such as reducing greenhouse gas emissions and enhancing soil health. It also liberates rural women from the burden of sourcing conventional fuel sources and the health risks associated with burning dung cakes for fuel.

Source:

Archroma

26.06.2024

TrusTrace: Upgraded Forced Labor Prevention Solution

TrusTrace, a SaaS company with a platform for product traceability and supply chain compliance in fashion and retail, announced the launch of its upgraded AI-powered Forced Labor Prevention (FLP) Solution, which will help brands proactively map out supply chains, screen it for risk, and efficiently gather evidence for regulatory compliance.

The Forced Labor Prevention solution combines the power of AI to manage large quantities of data from complex supply chains with scalable collection of primary data per purchase order, which is screened and validated for risk, ensuring brands have validated evidence at a product and shipment level.

TrusTrace, a SaaS company with a platform for product traceability and supply chain compliance in fashion and retail, announced the launch of its upgraded AI-powered Forced Labor Prevention (FLP) Solution, which will help brands proactively map out supply chains, screen it for risk, and efficiently gather evidence for regulatory compliance.

The Forced Labor Prevention solution combines the power of AI to manage large quantities of data from complex supply chains with scalable collection of primary data per purchase order, which is screened and validated for risk, ensuring brands have validated evidence at a product and shipment level.

The solution collects primary data directly from suppliers to ensure detailed and reliable information about facilities, products, and materials. The primary data collected through the TrusTrace solution is specific to the context of the traced products, contrary to solutions leveraging third party data, which can introduce large quantities of irrelevant information from various sources, creating ‘noise’ that can obscure critical insights and quickly become unmanageable. TrusTrace has traced more than two million purchase orders to date and has more than 55,000 suppliers and facilities mapped globally, demonstrating the capacity to automate the collection of primary data at very large scale.

The data is proactively screened for risk against the U.S. Customs and Border Protection (CBP) entity list, and the solution can integrate with any relevant risk screening database.

AI-Powered Chain of Custody Creation and Document Collection drives speed, accuracy and cost savings, making it quick and easy to gain supply chain visibility and stay on top of documentation for compliance. The FLP solution can classify, extract, and translate large volumes of documents in over 100 languages, facilitating the creation of a digital chain of custody, and transforming traditionally time-consuming manual processes, increasing efficiency, and reducing the likelihood of human error.

15 brands worldwide are already using TrusTrace for forced labor prevention, including Vera Bradley, who see proactive supply chain traceability and data management as key in achieving their ESG commitments.

Source:

TrusTrace

EURATEX elects new President (c) EURATEX
From the left: Ismail Kolunsag, Barbara Cimmino, Mario Jorge Machado and Grégory Marchant.
17.06.2024

EURATEX elects new President

Portuguese textile entrepreneur, Mario Jorge Machado, has been elected President of EURATEX during its General Assembly on 14 June. The Assembly also nominated Alberto Paccanelli as Honorary President.

Mario Jorge Machado has an extensive career in textiles. Mario is currently a shareholder and director of "Adalberto Textile Solutions, S.A.", where he applies advanced management practices to boost competitiveness and innovation. He has been president of the Textile and Clothing Association of Portugal (ATP) since 2019, and he stands out for his strategic leadership in the textile and clothing sector, promoting innovation and sustainability. He represents ATP on the Board of CIP - Confederação Empresarial de Portugal and chairs CIP's strategic council for the environment and sustainability.

With a degree in Production Polymer Engineering from the University of Minho, his expertise ranges from continuous process improvement to the development of B2B commercial teams and B2C business models. His vision encompasses operational excellence and the implementation of sustainable practices, contributing to the evolution of the textile industry.

Portuguese textile entrepreneur, Mario Jorge Machado, has been elected President of EURATEX during its General Assembly on 14 June. The Assembly also nominated Alberto Paccanelli as Honorary President.

Mario Jorge Machado has an extensive career in textiles. Mario is currently a shareholder and director of "Adalberto Textile Solutions, S.A.", where he applies advanced management practices to boost competitiveness and innovation. He has been president of the Textile and Clothing Association of Portugal (ATP) since 2019, and he stands out for his strategic leadership in the textile and clothing sector, promoting innovation and sustainability. He represents ATP on the Board of CIP - Confederação Empresarial de Portugal and chairs CIP's strategic council for the environment and sustainability.

With a degree in Production Polymer Engineering from the University of Minho, his expertise ranges from continuous process improvement to the development of B2B commercial teams and B2C business models. His vision encompasses operational excellence and the implementation of sustainable practices, contributing to the evolution of the textile industry.

The Assembly also nominated Alberto Paccanelli as Honorary President, recognising over a decade of commitment to EURATEX and the European textile industry.

EURATEX General Assembly also elected 4 other members of the Presidency Team: Michael Kamm (ZWILLING Gruppe, Germany), Barbara Cimmino (Yamamay, Italy), Grégory Marchant (UTT, France) and Ismail Kolunsag (Cross Tekstil, Turkey). During the Assembly, EURATEX also welcomed new memberships from CEMATEX and Forschungskuratorium Textil e. V., and a partnership with Reju. (France).

More information:
Euratex President general assembly
Source:

EURATEX

12.06.2024

Lenzing welcomes new shareholder Suzano S/A

The Lenzing Group learned that Lenzing's main shareholder B&C Group and the Brazilian pulp producer Suzano S/A have signed a long-term partnership in connection with the majority stake in Lenzing. As part of this agreement, Suzano S/A will take over a 15 percent stake in Lenzing AG from B&C Group. Suzano is the world's largest pulp producer based in Sao Paolo and recently achieved annual sales of more than EUR 7 billion.

Lenzing's management welcomes the proposed transaction and looks forward working with another core shareholder.

The Lenzing Group learned that Lenzing's main shareholder B&C Group and the Brazilian pulp producer Suzano S/A have signed a long-term partnership in connection with the majority stake in Lenzing. As part of this agreement, Suzano S/A will take over a 15 percent stake in Lenzing AG from B&C Group. Suzano is the world's largest pulp producer based in Sao Paolo and recently achieved annual sales of more than EUR 7 billion.

Lenzing's management welcomes the proposed transaction and looks forward working with another core shareholder.

Source:

Lenzing AG

THREAD project: Addressing Textile Waste in the NPA Region (c) WDC
10.06.2024

THREAD project: Addressing Textile Waste in the NPA Region

The Western Development Commission (WDC) announces the successful funding of the THREAD project. Supported by the Interreg Northern Periphery and Arctic Programme, THREADs (Textile and Habiliment Reuse for the Environment and NPA Area Development) is set to launch a transformative three-year initiative starting in September 2024, focusing on innovative textile waste management.

THREADs aims to significantly reduce textile waste in the Northern Periphery and Arctic region. With a total budget of €1.5 million, the project will implement a range of innovative approaches across the textile lifecycle—from design to disposal. This initiative includes trialling smart waste collection methods, enhancing circular practices, and integrating social inclusion initiatives in circularity efforts. Additionally, the project will explore new business models to support sustainable practices.

The Western Development Commission (WDC) announces the successful funding of the THREAD project. Supported by the Interreg Northern Periphery and Arctic Programme, THREADs (Textile and Habiliment Reuse for the Environment and NPA Area Development) is set to launch a transformative three-year initiative starting in September 2024, focusing on innovative textile waste management.

THREADs aims to significantly reduce textile waste in the Northern Periphery and Arctic region. With a total budget of €1.5 million, the project will implement a range of innovative approaches across the textile lifecycle—from design to disposal. This initiative includes trialling smart waste collection methods, enhancing circular practices, and integrating social inclusion initiatives in circularity efforts. Additionally, the project will explore new business models to support sustainable practices.

The project unites a diverse group of partners from across Europe, reflecting a collaborative effort to tackle an urgent environmental issue. The lead partner, Kajaani University of Applied Sciences from Finland, is joined by other key stakeholders including the Municipality of Kittilä, Kiertokaari Ltd, Remiks Husholdning AS from Norway, Technological University of the Shannon – Forge Design Factory from Ireland, University of Boras and Lulea Miljoresurs AB from Sweden, and the Icelandic Textile Center.

The funding announcement marks a crucial step towards implementing effective solutions that address both the environmental impact of textile waste and the challenges posed by fast fashion in sparsely populated areas. By focusing on sustainability and efficient resource use, THREADs is poised to create meaningful change in the way textile management is approached in the NPA region.

Schneider Group launches brand: Authentico® by Schneider Group (c) Schneider Group
06.06.2024

Schneider Group launches brand: Authentico® by Schneider Group

The Schneider Group officially launches Authentico® by Schneider Group, a brand that stands for a transparent, verified, traceable, ethical and high-quality wool supply chain. It aims to be recognised as a global brand that enables the fashion industry, together with end-consumers, to choose new levels of premium quality comprising fully traceable and responsible wool, in compliance with a carefully structured approach that verifies, traces and brands the sourcing and manufacturing processes throughout the whole supply chain. Authentico® is based on the Schneider Group global certified network.

To achieve these goals, the Schneider Group has created the Authentico® Verification System, a simple and reliable way to provide criteria and guidelines for all Authentico® supply chain partners including:

The Schneider Group officially launches Authentico® by Schneider Group, a brand that stands for a transparent, verified, traceable, ethical and high-quality wool supply chain. It aims to be recognised as a global brand that enables the fashion industry, together with end-consumers, to choose new levels of premium quality comprising fully traceable and responsible wool, in compliance with a carefully structured approach that verifies, traces and brands the sourcing and manufacturing processes throughout the whole supply chain. Authentico® is based on the Schneider Group global certified network.

To achieve these goals, the Schneider Group has created the Authentico® Verification System, a simple and reliable way to provide criteria and guidelines for all Authentico® supply chain partners including:

  • Authentico® Integrity Scheme, best practices for growers’ implementation at farm level. Animal welfare is at the heart of the Authentico® Integrity scheme, together with being mulesing-free, in accordance with The Five Domains. But the scheme goes further and encompasses also land and pasture management and social responsibility. The wool is sourced from carefully selected and highly committed growers, who apply best practices and choose to subscribe to the dedicated Authentico® platform. The selected fibres are processed into tops in the Schneider Group’s own mills located on several continents, which are directly operated and fully certified.
  • Authentico® Brand Guidelines, for all other supply chain players (from spinners, weavers and knitters to garment makers, brands and retailers), that include precise criteria set by the Schneider Group to ensure alignment with Authentico® brand values.

In addition, the Schneider Group incorporates the traceability platform TextileGenesis™ within its Authentico® Verification System, to digitally track all incoming and outgoing wool.

The group has developed a marketing & communication plan to support its Authentico® brand. Upcoming events where Authentico® will be featured are: Pitti Filati in June, Milano Unica in July, the Natural Fibre Connect (NFC) in Biella in mid-September and the Textile Exchange Conference at the end of October in Pasadena.

Source:

Schneider Group / C.L.A.S.S. Eco Hub

Fashion for Good Museum publishes Legacy Report (c) Camilla Rama and Hyunji Kim
05.06.2024

Fashion for Good Museum publishes Legacy Report

The Fashion for Good Museum publishes its legacy document. The report was prompted by the museum’s closure on June 5th, 2024. It represents the museum’s mission, summarising invaluable insights gathered over six years and key results such as reaching 115.000 visitors and creating a dedicated community of more than 250.000 followers online. Committed to transparency and collaboration, Fashion for Good shares its reflections, tools, and transferable learnings, as well as the future of its collections and next steps, continuing to inspire positive change within the fashion ecosystem. All information can be accessed on the Fashion for Good website for continued use and benefit of educators, the cultural sector, and the wider public.

The Fashion for Good Museum publishes its legacy document. The report was prompted by the museum’s closure on June 5th, 2024. It represents the museum’s mission, summarising invaluable insights gathered over six years and key results such as reaching 115.000 visitors and creating a dedicated community of more than 250.000 followers online. Committed to transparency and collaboration, Fashion for Good shares its reflections, tools, and transferable learnings, as well as the future of its collections and next steps, continuing to inspire positive change within the fashion ecosystem. All information can be accessed on the Fashion for Good website for continued use and benefit of educators, the cultural sector, and the wider public.

Looking back on its journey, the Fashion for Good Museum celebrates achievements such as hosting 115.000 visitors, including 8.000 students from 200 schools, curating 13 exhibitions, offering over 75 events, launching 4 educational programmes, reaching both current and future generations, and inspiring many to drive change in the fashion industry. With an earned media value of over 46 million Euros through press coverage since 2017, Fashion for Good's influence has been significant, evident in its 250.000 social media followers and 15.000 newsletter subscribers.

The report fulfils the promise Fashion for Good made in 2017 – to share their journey, learnings, and most impactful activities with the world. Within these pages, readers will discover reflections on their messaging, insights about creative partnerships with entities such as Lowlands Festival, Dutch Design Week, and Museumnacht to case studies of pioneering exhibitions. Their programming was created around themes and topics, such as the untold stories around cotton, circularity, and the future of biomaterials to educate and inspire visitors, ultimately empowering them to take action themselves.

Reflecting on the output of the museum during its short existence, as well as its footprint and wide reach, while acknowledging the challenges encountered during its establishment and development, Fashion for Good distilled six key lessons from Fashion for Good's sustainable museum practices:

  • Recognition of Broader Shift: There is a wider movement towards sustainability in the museum sector, exemplified by Fashion for Good and the new ICOM definition.
  • Storytelling for Societal Change: Cultural institutions are crucial in driving societal change in fashion consumption through storytelling.
  • Innovation through Limitations: Embracing organisational limitations can stimulate innovation in museum collection management and education.
  • Audience Engagement: Understanding and expanding the core audience is essential for effective engagement in sustainability initiatives.
  • Measuring Impact: It's challenging to measure impact for organisations with social missions, requiring clear success criteria.
  • Establishing a Sustainability Framework: Defining sustainability within context is fundamental for organisational sustainability efforts.
Source:

Fashion for Good

29.05.2024

Wünsche Group: Shipping Visibility Enhancements with TradeBeyond’s platform

Wünsche Group, a global trading company, has announced enhancements to its supply chain operations through its ongoing partnership with TradeBeyond and adoption of the platform’s shipping visibility features. Before integrating TradeBeyond’s multi-enterprise supply chain platform in 2019, Wünsche Group faced challenges managing its complex supply chain, which spans more than 15 trading companies worldwide.

Building on its initial implementation, Wünsche is now deriving more value from TradeBeyond by implementing the platform’s advanced shipping visibility functionalities. Integrated with leading shipping information company Vizion, these enhancements offer comprehensive, real-time tracking of shipments from departure to arrival, covering all intermediary handling stages.

Wünsche Group, a global trading company, has announced enhancements to its supply chain operations through its ongoing partnership with TradeBeyond and adoption of the platform’s shipping visibility features. Before integrating TradeBeyond’s multi-enterprise supply chain platform in 2019, Wünsche Group faced challenges managing its complex supply chain, which spans more than 15 trading companies worldwide.

Building on its initial implementation, Wünsche is now deriving more value from TradeBeyond by implementing the platform’s advanced shipping visibility functionalities. Integrated with leading shipping information company Vizion, these enhancements offer comprehensive, real-time tracking of shipments from departure to arrival, covering all intermediary handling stages.

With shipment updates now available within dashboard views on TradeBeyond platform, all departments have access to the latest ETA updates, enabling them to adjust their strategies and activities based on real-time information. TradeBeyond’s shipping visibility enhancements allow the company to better manage delays by providing timely updates and enabling proactive management of transit times. The platform also streamlines communication across internal departments and with external partners, reducing the need for manual updates and check-ins.

Source:

TradeBeyond

24.05.2024

Polartec launches ‘Beyond Begins Today’ Series

Polartec, a Milliken & Company brand and the premium creator of innovative and more sustainable textile solutions, unveils the first of three short films which comprise the company’s multifaceted Beyond Begins Today campaign. Featuring Eva Karlsson (CEO, Houdini), Chris Parkes (Natural World Photographer), and Karen Beattie (Director of Product Management, Polartec), the first chapter explores our Planet and the intrinsic value of our natural world.

As a global initiative through which Polartec aims to raise awareness and unity around important universal themes including sustainability, diversity and positive change, Beyond Begins Today leverages static and multimedia content published on multiple touchpoints and channels throughout the year. Chapter 1: the Planet, is the first of three chapters with the second and third chapters dedicated to Product and People respectively.

Polartec, a Milliken & Company brand and the premium creator of innovative and more sustainable textile solutions, unveils the first of three short films which comprise the company’s multifaceted Beyond Begins Today campaign. Featuring Eva Karlsson (CEO, Houdini), Chris Parkes (Natural World Photographer), and Karen Beattie (Director of Product Management, Polartec), the first chapter explores our Planet and the intrinsic value of our natural world.

As a global initiative through which Polartec aims to raise awareness and unity around important universal themes including sustainability, diversity and positive change, Beyond Begins Today leverages static and multimedia content published on multiple touchpoints and channels throughout the year. Chapter 1: the Planet, is the first of three chapters with the second and third chapters dedicated to Product and People respectively.

More information:
Polartec Beyond Begins Today Films
Source:

Polartec

15.05.2024

Indorama Ventures: 1Q24 Performance

  • Sales Volume rose 3% QoQ and 2% YoY to 3.55MT
  • Adjusted EBITDA of $366M, a rise of 32% QoQ and a decline of 2% YoY
  • Operating cash flows of $184M
  • Net Operating Debt to Equity of 1.12
  • Reported EPS of THB0.17

Indorama Ventures Public Company Limited (IVL) reported an improved quarterly performance as the prolonged destocking trend showed further signs of easing. During the quarter, the company progressed its IVL 2.0 evolved strategy to enhance earnings quality and transform its business to emerge stronger from the downturn in global chemical markets.

  • Sales Volume rose 3% QoQ and 2% YoY to 3.55MT
  • Adjusted EBITDA of $366M, a rise of 32% QoQ and a decline of 2% YoY
  • Operating cash flows of $184M
  • Net Operating Debt to Equity of 1.12
  • Reported EPS of THB0.17

Indorama Ventures Public Company Limited (IVL) reported an improved quarterly performance as the prolonged destocking trend showed further signs of easing. During the quarter, the company progressed its IVL 2.0 evolved strategy to enhance earnings quality and transform its business to emerge stronger from the downturn in global chemical markets.

Indorama Ventures’ reported Adjusted EBITDA1  of $366 million in 1Q24, a 32% increase QoQ and a 2% decline YoY. Sales volume grew 3% QoQ as the widespread customer destocking that sapped demand through 2023 shows signs of a gradual recovery across all sectors, partially offset by a winter freeze in the U.S. The result was supported by lower utilities costs in Europe, Red Sea-related supply chain disruptions that benefited the company’s import parity advantages, and favorable shale gas economics that bolstered profitability in the U.S.

Indorama Ventures expects the recovery in volumes to continue through 2024, albeit at a gradual pace as destocking normalizes and the approaching summer supports demand. However, the overall landscape for the global chemical industry remains challenging due to excess capacity builds, as well due to persistent inflation and high interest rates which weigh on industry spreads and continue to impair profitability, especially across the polyester value chain. Our HVA segment ‘Indovinya’ is progressing well into the second quarter post the easing of destocking and anticipating a healthy 2024.

The company’s experienced management remains intensely focused on managing costs, optimizing competitiveness, and maintaining high liquidity. Indorama Ventures’ diverse geographical footprint is a key advantage in the current low-margin environment, allowing its businesses to maintain their strong market premium, supported by protection from trade and non-trade barriers.

In 1Q, the company made headway with its IVL 2.0 three-year plan to leverage its global leadership position and forge a new era of opportunity amid significant structural changes in chemical markets. Under the evolved strategy, which the company outlined at its annual Capital Markets Day in March, Indorama Ventures is optimizing assets, reducing debt, and focusing on generating free cash flow to deliver enhanced shareholder returns. Today, 70% of the company's revenue has deployed the SAPS/4HANA ERP and is using the infrastructure to enhance digital procurement, sales excellence, and integration of supply chains across the business. The company believes these AI tools will improve productivity and costs, as well as release working capital in line with its modernization strategy.

As part of IVL 2.0, the company is optimizing 7 sites, including the ongoing evaluation of its PTA/PET operation in the Netherlands. It has also made significant progress in its program to refinance $1.1 billion of debt within the first half of 2024 to ensure ample liquidity. Recent capital raisings include a $255 million ‘Ninja loan’, a THB 10 billion debenture, a $100M bi-lateral loan, and this week’s successful close of a $500 million syndicated loan – achieved at lower-than-average spreads compared to previous issuances.

To unlock value, Indorama Ventures is preparing its packaging and surfactants businesses for IPOs. From 1Q24, the Indovinya segment (previously named ‘Integrated Oxides and Derivatives’) is focused on developing its attractive downstream surfactants operations as a separate segment. The segment’s Intermediate Chemicals business, consisting of shale base integrated Ethylene MEG, MTBE and merchant Purified EO assets, have been moved under the Combined PET (CPET) segment where they are a natural fit.

Segment Performances
In 1Q24, CPET segment (including Intermediate Chemicals) posted Adjusted EBITDA of $249 million, a 34% gain QoQ and 4% YoY as supply chain disruptions and a consequent spike in global ocean freight rates supported high prices and margins, and as Western markets benefited from lower energy costs. The Indovinya segment reported a stable Adjusted EBITDA of $70 million, impacted by the winter freeze in the U.S and a mini turnaround at a PO/PG plant. The Fibers segment achieved a remarkable 73% increase in Adjusted EBITDA to $39 million QoQ, and 2% YoY, as destocking waned across all three business verticals and drove an 8% QoQ increase in volume.

Source:

Indorama Ventures Public Company Limited

CARBIOS: Groundbreaking of PET biorecycling plant (c) CARBIOS
26.04.2024

CARBIOS: Groundbreaking of PET biorecycling plant

CARBIOS celebrated the groundbreaking ceremony for its PET biorecycling plant in the presence of representatives of local authorities, partner brands and industrial partners who all make up CARBIOS’ ecosystem. Located in Longlaville, in the Grand-Est region of France, CARBIOS' first commercial plant will play a key role in the fight against plastic pollution, offering an industrial-scale solution for the enzymatic depolymerization of PET waste in order to accelerate a circular economy for plastic and textiles. The plant will have a processing capacity of 50kt/year of prepared waste when operating at full capacity. Work is progressing on schedule with significant quantities delivered to customers in 2026.

CARBIOS celebrated the groundbreaking ceremony for its PET biorecycling plant in the presence of representatives of local authorities, partner brands and industrial partners who all make up CARBIOS’ ecosystem. Located in Longlaville, in the Grand-Est region of France, CARBIOS' first commercial plant will play a key role in the fight against plastic pollution, offering an industrial-scale solution for the enzymatic depolymerization of PET waste in order to accelerate a circular economy for plastic and textiles. The plant will have a processing capacity of 50kt/year of prepared waste when operating at full capacity. Work is progressing on schedule with significant quantities delivered to customers in 2026.

CARBIOS' technology enables PET circularity and provides an alternative raw material to fossil-based monomers, giving PET producers, waste management companies, public bodies and brands an effective solution to meet regulatory requirements and their own commitments to sustainable development. The plant will have the capacity to process 50,000 tons of prepared PET waste per year (equivalent to 2 billion colored bottles, 2.5 billion food trays or 300 million T-shirts). The plant will create 150 direct and indirect jobs in the region. In October 2023, CARBIOS obtained the building and operating permits for the site. The factory is currently under construction on land officially acquired from Indorama Ventures on 14 February 2024. In February 2024, CARBIOS and De Smet Engineers & Contractors (DSEC) announced their collaboration to manage construction. Several feedstock supply agreements, notably with CITEO and Landbell Group, will secure the vast majority of the raw materials required.  Close to the borders with Belgium, Germany and Luxembourg, the plant's location is strategic for access to nearby waste supplies

More information:
Carbios France PET recycling
Source:

CARBIOS

19.04.2024

Rieter Annual General Meeting 2024

On April 17, 2024, 312 shareholders, who represent 68.7% of the share capital, attended the 133rd Annual General Meeting of Rieter Holding Ltd.

Shareholders Adopt All Motions Proposed by the Board of Directors:

  • Distribution of a dividend of CHF 3.00 per share approved
  • Remuneration Report 2023 and future remuneration of Board of Directors and Group Executive Committee formally accepted
  • All members of the Board of Directors who stood for re-election were elected
  • Thomas Oetterli newly appointed Chairman of the Board of Directors
  • Jennifer Maag newly appointed to the Board of Directors
  • Amendments to the Articles of Association approved

On April 17, 2024, 312 shareholders, who represent 68.7% of the share capital, attended the 133rd Annual General Meeting of Rieter Holding Ltd.

Shareholders Adopt All Motions Proposed by the Board of Directors:

  • Distribution of a dividend of CHF 3.00 per share approved
  • Remuneration Report 2023 and future remuneration of Board of Directors and Group Executive Committee formally accepted
  • All members of the Board of Directors who stood for re-election were elected
  • Thomas Oetterli newly appointed Chairman of the Board of Directors
  • Jennifer Maag newly appointed to the Board of Directors
  • Amendments to the Articles of Association approved
Source:

Rieter Management AG

17.04.2024

EEA/ECHA: Europe-wide assessment of chemical pollution

The transition towards safer and more sustainable chemicals is progressing in some areas, while in others, it is just beginning. This is the finding of a first, joint Europe-wide assessment of the drivers and impact of chemical pollution by the European Environment Agency (EEA) and the European Chemicals Agency (ECHA). The benchmarking found that more work is still needed to reduce the impact of harmful substances on human health and the environment.

The number of industrial chemicals scrutinised under the EU’s chemicals legislation to determine their safety has increased substantially. Authorities now have much better knowledge about the hazardous properties of chemicals that are used across the EU, resulting in many actions to minimise and control the risks of several groups of substances.

The transition towards safer and more sustainable chemicals is progressing in some areas, while in others, it is just beginning. This is the finding of a first, joint Europe-wide assessment of the drivers and impact of chemical pollution by the European Environment Agency (EEA) and the European Chemicals Agency (ECHA). The benchmarking found that more work is still needed to reduce the impact of harmful substances on human health and the environment.

The number of industrial chemicals scrutinised under the EU’s chemicals legislation to determine their safety has increased substantially. Authorities now have much better knowledge about the hazardous properties of chemicals that are used across the EU, resulting in many actions to minimise and control the risks of several groups of substances.

According to the joint EEA-ECHA synthesis report on the EU indicator framework for chemicals, the overall use of the most harmful chemicals (in particular those that are carcinogenic, mutagenic and reprotoxic) is still growing but more slowly than the overall chemicals market growth. Pressure is increasing to avoid the use of so-called substances of concern and to implement the principles of the safe and sustainable by design framework.

There is a need to more effectively ensure that consumer products do not contain the most harmful substances, for example chemicals that are endocrine disrupting, that negatively affect the hormone system, or substances that are persistent, bioaccumulative and toxic, which present a risk for years to come even after their use has ceased.

More data and information are needed to better understand human and environmental exposure to those most harmful chemicals and their impacts. Still, the indicators show clearly that the shift to safe and sustainable chemicals must continue and should even be accelerated.

The report is based on a set of 25 key indicators, which monitor the drivers and impacts of chemical pollution in Europe.

Key findings

  • Transition towards safer and more sustainable chemicals is progressing in some areas while in others it is just getting started.
  • Action by authorities and industry has supported minimising and controlling the risks from several groups of hazardous chemicals. Efforts are ongoing to increase knowledge on chemical hazards and support risk management action where needed.
  • Available data suggest that there is little evidence of progress towards eliminating substances of concern from waste and secondary materials. This is a barrier to the transition towards a more circular economy.
  • Emissions of certain chemicals to water and air have fallen following specific EU regulations (e.g., on industrial emissions) and international actions, but further measures are needed to reach concentration levels that are not harmful for human health and the environment.
  • Emissions from industry still lead to major costs in terms of damages to human and ecosystem health.
  • Human biomonitoring offers the opportunity to understand human exposure to chemicals from multiple sources and thus health risks associated with chemical pollution. As such, biomonitoring forms a key tool to measure the effectiveness of chemicals legislation in protecting human health and the environment.
Source:

European Chemicals Agency

Wacker Chemical Corporation under New Management Foto: WACKER
Christoph Kowitz
16.04.2024

Wacker Chemical Corporation under New Management

Christoph Kowitz, currently head of WACKER’s Corporate Research Department, takes charge of the Group’s U.S. subsidiary Wacker Chemical Corporation (WCC) at the beginning of May. He succeeds David Wilhoit who has been responsible for WACKER’s North and Central American business since 2015 and is now retiring.

Christoph Kowitz has already held various management positions. After obtaining his doctorate in organic chemistry and polymer chemistry, he began his professional career as a product developer at BASF AG in Ludwigshafen in 1996. From 1997 onwards, he worked for several years as a management consultant for McKinsey in Asia and Europe. After several management positions in the chemical industry, including Germany-based specialty chemicals manufacturer Cognis, Kowitz moved to WACKER in 2013, where he headed the Performance Silicones unit within the WACKER SILICONES division. Since 2018, he has been Head of Corporate R&D and thus also responsible for innovation management within the Group.

Christoph Kowitz, currently head of WACKER’s Corporate Research Department, takes charge of the Group’s U.S. subsidiary Wacker Chemical Corporation (WCC) at the beginning of May. He succeeds David Wilhoit who has been responsible for WACKER’s North and Central American business since 2015 and is now retiring.

Christoph Kowitz has already held various management positions. After obtaining his doctorate in organic chemistry and polymer chemistry, he began his professional career as a product developer at BASF AG in Ludwigshafen in 1996. From 1997 onwards, he worked for several years as a management consultant for McKinsey in Asia and Europe. After several management positions in the chemical industry, including Germany-based specialty chemicals manufacturer Cognis, Kowitz moved to WACKER in 2013, where he headed the Performance Silicones unit within the WACKER SILICONES division. Since 2018, he has been Head of Corporate R&D and thus also responsible for innovation management within the Group.

More information:
Wacker chemicals polymers
Source:

Wacker Chemie AG

16.04.2024

Stratasys published Second ESG and Sustainability Report

Stratasys Ltd. published its second Mindful Manufacturing™ ESG and Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards, fulfilling its commitment to transparency. The report includes an extensive overview of activities and advancements in Stratasys’ environmental, social and governance (ESG) programs.

Some highlights of the Mindful Manufacturing ESG and Sustainability report, by category, include:

Environmental

  • Stratasys reduced water intensity by 32.5 percent across global operations, leading to an overall reduction in water usage by the company.
  • Solar panels installed at Israeli facilities generated 441,339 kWh of renewable energy, which contributed to 207 metric tons of reduced CO2 emissions, or the equivalent of planting 3,423 trees
  • Double digit (11.3 percent) increases in the number of spools, cartridges and canisters recycled through a new recycling program.

Social

Stratasys Ltd. published its second Mindful Manufacturing™ ESG and Sustainability Report in accordance with the Global Reporting Initiative (GRI) standards, fulfilling its commitment to transparency. The report includes an extensive overview of activities and advancements in Stratasys’ environmental, social and governance (ESG) programs.

Some highlights of the Mindful Manufacturing ESG and Sustainability report, by category, include:

Environmental

  • Stratasys reduced water intensity by 32.5 percent across global operations, leading to an overall reduction in water usage by the company.
  • Solar panels installed at Israeli facilities generated 441,339 kWh of renewable energy, which contributed to 207 metric tons of reduced CO2 emissions, or the equivalent of planting 3,423 trees
  • Double digit (11.3 percent) increases in the number of spools, cartridges and canisters recycled through a new recycling program.

Social

  • More than 38,000 hours of employee training were provided, equaling 18 hours of training per employee.
  • Approaching world-class status with employee engagement, with a 78 percent participation rate in the last all-employee survey, with an all-time high engagement score of 73.
  • 81 percent of managers participated in management training.
  • 4 diversity KPIs were set in 2022, focusing on hiring practices. Targets were:
  • 100 percent of candidate slates for manager and above will have a diverse slate
  • 35 percent of management hires will be women
  • 25 percent of tech hires will be women
  • 40 percent of intern/student hires to reflect a range of ethnicity and gender diversity.

Governance

  • 100 percent of new suppliers in 2021 and 2022 signed the Supplier Code of Conduct, which includes environmental, social and ethical standards.
  • More than 97% of all employees completed compliance training.
  • No product-related health and safety incidents of non-compliance occurred in 2021 or 2022.
Source:

Stratasys Ltd.

John Lewis Partnership appoints new Chairman (c) John Lewis Partnership
Jason Tarry
08.04.2024

John Lewis Partnership appoints new Chairman

The John Lewis Partnership announces the appointment of Jason Tarry as its seventh Chairman following Sharon White’s decision to step down at the end of her term.

Jason brings over 33 years of experience at Tesco where he was most recently the UK & Ireland CEO, a role he held for six years. His experience spans grocery, general merchandise and fashion in senior commercial, operational and general management positions, having joined the Tesco graduate programme in 1990.

In addition to delivering market leading grocery performance in the UK, he led the expansion of F&F Clothing across Europe as Group CEO. Jason is expected to take up the role in September, at which point Sharon will step down and support the transition as required.

The John Lewis Partnership announces the appointment of Jason Tarry as its seventh Chairman following Sharon White’s decision to step down at the end of her term.

Jason brings over 33 years of experience at Tesco where he was most recently the UK & Ireland CEO, a role he held for six years. His experience spans grocery, general merchandise and fashion in senior commercial, operational and general management positions, having joined the Tesco graduate programme in 1990.

In addition to delivering market leading grocery performance in the UK, he led the expansion of F&F Clothing across Europe as Group CEO. Jason is expected to take up the role in September, at which point Sharon will step down and support the transition as required.

Rita Clifton, Deputy Chairman and Chair of the Nomination Committee, said: “The Board extends its huge thanks to Sharon for successfully leading the Partnership through one of the most testing periods in its history - first Covid and then the cost of living crisis. She has faced into the toughest decisions and overseen the Partnership's financial recovery; we are in good financial health with a return to profit, and have a strong balance sheet with record investment planned this year. Sharon has also helped ensure that employee ownership of the Partnership is secure, is demonstrably focused on its purpose as a force for good and with an open and inclusive culture.

“As the Partnership moves into the next phase of its modernisation focused on our core retail business as well future growth, we are confident that Jason will provide the kind of inspirational leadership, a proven track record in multi-channel, multi-category retail success and a strong identification with Partnership values that we are seeking in this role. Jason has impressed everyone throughout the interview process with his warmth, his belief in the Partnership’s ideals and democratic principles and his appreciation for our unique and special brands.”

More information:
John Lewis Partnership Chairman
Source:

John Lewis Partnership

Freudenberg: Sant’Omero site implements ZDHC (c) Freudenberg Performance Materials
08.04.2024

Freudenberg: Sant’Omero site implements ZDHC

Freudenberg Performance Materials Apparel Europe (Freudenberg) has reached a further sustainability milestone: The new Freudenberg Apparel Competence Center in Sant’Omero, Italy, successfully completed the 4sustainability® Chemical Management protocol (4s CHEM) recently and reached the Advanced Level. The aim of the protocol is to progressively eliminate toxic and hazardous chemicals and related risks throughout the production process.

Freudenberg Performance Materials Apparel Europe (Freudenberg) has reached a further sustainability milestone: The new Freudenberg Apparel Competence Center in Sant’Omero, Italy, successfully completed the 4sustainability® Chemical Management protocol (4s CHEM) recently and reached the Advanced Level. The aim of the protocol is to progressively eliminate toxic and hazardous chemicals and related risks throughout the production process.

Competence center for interlinings
Freudenberg opened its Apparel Competence Center in Sant’Omero in May 2023. The factory in Italy is an innovative competence center that coats and finishes nonwoven, woven and weft interlinings for apparel customers in Europe.
Freudenberg has now taken the next logical step: as part of a comprehensive audit, the Apparel Competence Center has implemented ZDHC guidelines in its production process. To achieve this, Freudenberg called in the experts from Process Factory, a consultancy that specializes in sustainability topics. With their support, Freudenberg’s Sant’Omero site has reached the Advanced level of the 4sustainability® Chemical Management protocol (4s CHEM), in line with the ZDHC Roadmap to Zero Program.
Implementation is controlled annually based on this protocol and offers companies in the fashion industry a degree of reliability. It guarantees structured, fully transparent procedures, regular monitoring, and continuous control of Freudenberg’s production processes.  

ZDHC
By demonstrating its rejection of environmentally harmful chemicals and substances, the Apparel Competence Center shows that Freudenberg gives top priority to taking responsibility for people and the environment.
The aim of the Zero Discharge of Hazardous Chemicals (ZDHC) Foundation and its globally recognized Roadmap to Zero Program is to eliminate the release of toxic chemicals in the textile and fashion industry’s supply chain based on the ZDHC Manufacturing Restricted Substances List (ZDHC MRSL).
By applying the 4s CHEM protocol, the production site in Sant’Omero is sending a clear signal to the fashion industry that Freudenberg products meet the highest quality standards and are also safe and environmentally friendly.

Source:

Freudenberg Performance Materials Holding GmbH

Together with Prof. Dr. Klaus Müller, who acts as CFO, Eva Baumann forms the management of the internationally active CHT Group. Photo CHT Group
05.04.2024

Eva Baumann new CEO of the CHT Group

As of April 1, 2024, Eva Baumann takes over the position of CEO in CHT. Together with Prof. Dr. Klaus Müller, who acts as CFO, she forms the management of the internationally active CHT Group.

Until 2020, Eva Baumann had worked for many years in a leading global company in the chemical industry. She has been part of the CHT Group since January 2020 and, as Group Vice President, has headed the Business Field General Industries at Group level. As CEO, Eva Baumann is now responsible for Marketing, Sales, Corporate Strategy, Human Resources and Sustainability.

Eva Baumann has ambitious plans for the future of the CHT Group: "Together with my management team, I will continue to expand the CHT Group as a successful and profitable specialty chemicals group. We focus on what we have been particularly good at for over 70 years: turning innovative ideas into specialty applications. These ideas help our customers to secure their success and at the same time make a sustainable contribution to development. Our customer proximity and the outstanding quality of our products and services set us apart in the market.

As of April 1, 2024, Eva Baumann takes over the position of CEO in CHT. Together with Prof. Dr. Klaus Müller, who acts as CFO, she forms the management of the internationally active CHT Group.

Until 2020, Eva Baumann had worked for many years in a leading global company in the chemical industry. She has been part of the CHT Group since January 2020 and, as Group Vice President, has headed the Business Field General Industries at Group level. As CEO, Eva Baumann is now responsible for Marketing, Sales, Corporate Strategy, Human Resources and Sustainability.

Eva Baumann has ambitious plans for the future of the CHT Group: "Together with my management team, I will continue to expand the CHT Group as a successful and profitable specialty chemicals group. We focus on what we have been particularly good at for over 70 years: turning innovative ideas into specialty applications. These ideas help our customers to secure their success and at the same time make a sustainable contribution to development. Our customer proximity and the outstanding quality of our products and services set us apart in the market.

More information:
CHT Gruppe
Source:

CHT Group

26.03.2024

CARBIOS joins Paris Good Fashion

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, announces its membership to Paris Good Fashion, the association that unites over 100 French players in the sector - brands, designers and experts - around their commitment to sustainable fashion. CARBIOS is the first recycling technology supplier to join, demonstrating the importance given to recycling to achieve textile circularity. By contributing its solution for the biorecycling of polyester, the world's most widely used and fastest-growing textile fiber, CARBIOS aims to contribute Paris Good Fashion’s mission, which focuses on concrete actions, best practice sharing and collective intelligence to accelerate change in the fashion industry.

CARBIOS, a pioneer in the development and industrialization of biological technologies to reinvent the life cycle of plastic and textiles, announces its membership to Paris Good Fashion, the association that unites over 100 French players in the sector - brands, designers and experts - around their commitment to sustainable fashion. CARBIOS is the first recycling technology supplier to join, demonstrating the importance given to recycling to achieve textile circularity. By contributing its solution for the biorecycling of polyester, the world's most widely used and fastest-growing textile fiber, CARBIOS aims to contribute Paris Good Fashion’s mission, which focuses on concrete actions, best practice sharing and collective intelligence to accelerate change in the fashion industry.

CARBIOS will be particularly involved in the association's project to set up a working group dedicated to the development of a "fiber-to-fiber" industry, one of Paris Good Fashion's top priorities over the next five years. While only 1% of textiles are currently recycled fiber-to-fiber (circular), this working group will identify levers for significantly increasing the share of recycled fibers in the industry.  Polyester currently follows a linear model from which we need to break out: virgin polyester is made from petroleum, and recycled polyester from PET bottles. After use, most of these products end their lives in landfill or incineration. A circular, "fiber-to-fiber" industry will give new life to textiles and reduce the environmental impact associated to their end-of-life management.

Source:

Carbios