Kohl’s And Lands’ End Announce New Partnership

MENOMONEE FALLS, Wis. — March 16, 2020 — Kohl’s today announced a new partnership with Lands’ End to offer the retailer’s entire assortment of women’s, men’s, kids, and home merchandise on Kohls.com, directly fulfilled and shipped by Lands’ End, beginning fall 2020. In addition, Kohl’s will bring Lands’ End merchandise, with a particular focus on seasonal goods for the family, including outerwear in fall/winter and swimwear in spring/summer, to 150 stores beginning fall 2020.

“The addition of Lands’ End, a market leader in the classic, casual lifestyle, into Kohl’s brand portfolio further strengthens our product leadership and our ability to deliver unmatched national brands to Kohl’s customers,” said Michelle Gass, Kohl’s CEO. “Lands’ End brings its strong brand recognition, leadership in casual style and fit authority, and gives new and existing customers something to discover at Kohl’s.”

Kohl’s will offer casual and seasonal apparel and home goods from Lands’ End on Kohls.com, including products the brand is famous for like outerwear and swim, in a deep array of extended sizes and fits, including petites, plus, and big and tall, for men, women and kids. Additionally, select Kohl’s stores will feature a Lands’ End shop-in-shop experience, offering customers an assortment of relevant products for the whole family all year round. In-store products will rotate seasonally beginning with outerwear in fall 2020, including jackets, vests and cold weather accessories, followed by swimwear for the family in early 2021.

“Lands’ End is a brand that is synonymous with fit and quality, and brings well-crafted, timeless pieces in a wide range of sizes across women’s, men’s and kids categories to Kohl’s customers,” said Doug Howe, Kohl’s chief merchandising officer. “With their exceptionally strong seasonal businesses, we are especially thrilled to offer Lands’ End outerwear and swimwear for the entire family at Kohl’s and to bring a compelling brand experience to life in select Kohl’s stores.”

“We’re thrilled to be partnering with Kohl’s as we work to meet our customers wherever, however and whenever they want to shop, whether that’s online, at our retail stores or – as is often the case – at Kohl’s,” said Jerome Griffith, CEO, Lands’ End. “We know our customers consistently list Kohl’s as one of their primary shopping destinations, and we place great value in meeting them where they are already shopping.”

Posted March 16, 2020

Source: Kohl’s / Lands’ End, Inc.

Levi Strauss & Co. Provides Business Update On COVID-19: Temporarily Close Its Owned And Operated Retail Locations In The United States And Canada — Employees Will Be Paid

SAN FRANCISCO — March 16, 2020 — Levi Strauss & Co. today announced it will temporarily close its owned and operated retail locations in the United States and Canada as of Monday, March 16, in response to the coronavirus and the guidance of public health officials in both countries. The company expects these stores to remain closed through March 27, 2020. Store employees will be paid for all scheduled hours during the closure.

“We are facing an unprecedented global pandemic, and our first priority is to do the right thing for the health and safety of our employees and our consumers,” said Chip Bergh, president and CEO of Levi Strauss & Co. “Effective immediately, we are electing to close our stores in the U.S. and Canada and encourage people to follow public health guidelines and take care of one another and their communities. We have faced many challenges in our 167-year history, and we will continue to navigate difficult times as we always have — by putting our people first and managing this business for the long term.”

These temporary closures do not affect the company’s online operations.

The company will provide a more detailed update during its fiscal first quarter 2020 earnings call scheduled for April 7, 2020.

Posted March 16, 2020

Source: Levi Strauss & Co.

PVH Corp. Response To COVID-19 Outbreak: Temporarily Close All Company-Operated Retail Stores Across North America And Europe

NEW YORK CITY — March 16, 2020 — PVH Corp. announced today that in response to the escalating global COVID-19 outbreak, it will close temporarily all company-operated retail stores across North America and Europe, effective March 17 through March 29. All retail associates at these locations will continue to receive full pay and benefits for their scheduled shifts during the temporary closure period.

Consumers can continue to shop from our digital commerce websites, Tommy.com, CalvinKlein.com, VanHeusen.com, Izod.com, styleBureau.com and SpeedoUSA.com, in applicable markets.

The company’s offices remain open; however, all associates are working remotely in North America and Europe with the exception of a minimal number of business critical functions. We will continue to re-evaluate these procedures along with the latest developments with the COVID-19 situation.

Many of the company-operated stores across the Asia Pacific region have re-opened, although stores in some regions are operating on reduced hours. While retail store traffic has shown some improvement over the past month, it remains down significantly compared with the prior year. The company’s offices in Greater China have re-opened, and offices in South Korea and Japan remain open but most associates are working remotely.

“We know many people — our associates, consumers, partners and communities — are feeling uncertain as we deal with the coronavirus pandemic. Health and safety remain our top priorities. This is an unprecedented and rapidly changing situation to which we will need to continue to adapt. We want to thank everyone in our organization, as well as our partners, for their dedication to our business and the support they’re providing to each other as we all rally together during this time. We’re confident that together we will show our resilience and bounce back. We urge everyone to be safe and engage in the health protections urged by health authorities,” said Manny Chirico, chairman and CEO.

PVH will provide a business update, including the impacts of COVID-19, during its fourth quarter fiscal 2019 earnings call, to be held on April 2, 2020 and will provide any other updates on the situation as may be warranted before then.

Posted March 16, 2020

Source: PVH Corp.

Huntsman Announces The Acquisition Of CVC Thermoset Specialties, Expanding Its Specialty Chemicals Portfolio

THE WOODLANDS, Texas — March 16, 2020 — Huntsman Corporation today announces its agreement to acquire CVC Thermoset Specialties, a North American specialty chemical manufacturer serving the industrial composites, adhesives and coatings markets. CVC Thermoset Specialties is part of Emerald Performance Materials LLC which is majority owned by affiliates of American Securities LLC.

CVC Thermoset Specialties has annual revenues of approximately $115 million with two manufacturing facilities located in Akron, Ohio, and Maple Shade, New Jersey. Under terms of the agreement, Huntsman will pay $300 million, subject to customary closing adjustments, in an all-cash transaction funded from available liquidity. Based on full year 2019, the purchase price represents an adjusted EBITDA multiple of approximately 10 times, or between approximately 7 to 8 times pro forma for synergies, the lower multiple end being dependent upon normal growth market conditions. The transaction is expected to close around midyear of 2020.

Commenting on the acquisition, Scott Wright, President of Huntsman’s Advanced Materials division, said: “The acquisition of CVC Thermoset Specialties brings valuable complementary technology breadth to our Advanced Materials portfolio and its unique products will make systems using our class-leading epoxy-based materials even tougher, stronger, and more durable. This business manufactures highly specialized toughening, curing and other additives used in a wide range of composite, adhesive and coatings applications across aerospace, automotive and industrial markets. In addition to strengthening our position in North America, Huntsman will use our existing asset footprint and routes to market in Europe and Asia to rapidly grow and globalize CVC Thermoset Specialties’ exciting and complementary product range. This acquisition will further improve our ability to create differentiation in our customers’ applications, in particular through our strong formulations business.”

Peter Huntsman, chairman, president and CEO, further commented: “This bolt-on fits all the criteria we look for in acquisitions for our Advanced Materials division, including new technology, synergies, and globalization opportunities. The business currently achieves EBITDA margins in excess of 25 percent and we expect to achieve significant synergies within two years.

“In these uncertain times, our financial strength will allow us to keep looking for these types of acquisitions, while at the same time maintain a conservative balance sheet and opportunistically repurchase shares. We remain committed to our balanced approach to capital allocation. Year-to-date we have taken advantage of our depressed stock price and have repurchased approximately $85 million in stock. Lastly, while forward visibility remains low, the first quarter is on track to deliver on the outlook that we communicated on our February 13, 2020 earnings call.”

Posted March 16, 2020

Source: Huntsman Corp.

Lands’ End Update Regarding COVID-19

DODGEVILLE, Wis. — March 15, 2020 — Lands’ End, a uni-channel retailer known for high-quality apparel for the whole family and the home, has been closely monitoring the situation and provided an update on COVID-19.

We care deeply about our employees, customers and communities and want to be sure that we keep them healthy and safe during this unprecedented time. Out of an abundance of caution to the communities we serve, we are closing all retail stores in the United States through March 29. We will continue to pay all our retail employees for the hours they have been scheduled to work in our stores.

Our website, landsend.com http://www.landsend.com/ remains open 24/7 as we continue our commitment to giving customers the best possible experience. Our customer service team will be available via phone or text at 800.963.4816 or via email at landsend@landsend.com to provide service and to answer any questions our customers may have.

For the safety of our employees and customers, we have restricted international and domestic travel, instituted flexible work plans, including working remotely where available to encourage social distancing in our offices, and have increased our cleaning and sanitizing procedures in our offices, retail stores and distribution center.

We continue to follow guidance from public health officials and government agencies, including the Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO).

Posted March 16, 2020

Source: Lands’ End Inc.

Indorama Ventures Secures Thailand’s First Sustainability-Linked Ninja Loan

BANGKOK, Thailand — March 16, 2020 — Indorama Ventures Public Co. Ltd. (IVL), a global chemical producer, has successfully completed Thailand’s first ever cross-border Sustainability-Linked Ninja Loan.

This syndicated loan of $255 million with 5 year bullet maturity, comprises of 16 Japan based banks and institutions is structured with linkage with the sustainability performance of IVL and have a mechanism to adjust to lower interest rate based on IVL’s ESG (Environmental, Social, and Governance) score.

Mizuho Bank, one of the largest banks from Japan, is the arranger of this syndicated cross-border Sustainability-Linked Ninja Loan. The loan proceeds will be primarily used for refinancing and will not increase the overall debt.

Sanjay Ahuja, CFO, at Indorama Ventures, said, “We are proud to be the first Thai company to obtain this Sustainability-linked Ninja Loan. Following Thailand’s first ever green loan funded by Mizuho Bank last year, we believe that our sustainability performance and PET recycling initiatives have been recognized.

“IVL’s financial strategy focuses on diversification of the funding base with access to different financial markets, extending maturity profile and optimizing cost of financing. The Sustainability-Linked Ninja Loan has favorable financing terms and will help lower overall borrowing costs.

“I would like to thank Mizuho and all 16 banks and financial institutions who have come together to offer this Sustainability-linked Ninja Loan. IVL is committed to continuously developing itself to improve our value for all stakeholders over the long run.”

Posted March 16, 2020

Source: Indorama Ventures

Gartex Texprocess India’s Mumbai Launch Postponed Due To Escalating Covid-19 Concerns

HONG KONG — March 13, 2020 — The magnitude of public health and safety issues posed by the rapidly escalating COVID-19 outbreaks have led to the postponement of Gartex Texprocess India, which was slated to make its debut in Mumbai next week. The cooperation partner of Gartex Texprcoess India, Denim Manufacturers Association, and its exhibitors strongly support this move. The Delhi edition continues to be on schedule from August 21-23, 2020.

With the World Health Organization (WHO) officially terming COVID-19 disease a pandemic, it called for a reassessment of the situation in accordance with advisories issued by the public health authorities. As per the travel advisory issued by the Union Health Ministry, the Indian Government has temporarily suspended visas and tightened entry conditions for foreign nationals. Moreover, as per a statement issued by Maharashtra Health Minister Shri Rajesh Tope, no permission will be granted for public gatherings in the state of Maharashtra.

Keeping in line with the advisories issued by the Indian Government, the organizers — Messe Frankfurt Trade Fairs India Pvt Ltd and MEX Exhibitions Pvt Ltd, have had to act swiftly to postpone the launch of Gartex Texprocess India 2020 which was scheduled to open its doors in Mumbai, next week.

The decision comes after intensive consultations with exhibitors to gain a sense of whether the organisers should proceed with running the show as originally scheduled from March 19-21, 2020. The response was both swift and definitive, with an overwhelming majority opting to postpone. The decision is also supported by the Denim Manufacturers Association (DMA).

“After intensive consultations with exhibitors, we have had to take the difficult decision to postpone Gartex Texprocess India’s launch in Mumbai. The health of our exhibitors, visitors, employees and all the stakeholders is our first priority. The current situation represents a major challenge for the MICE industry over the world and we have to work in line with the local government’s effort to take precautionary measures to control its further spread,” says Mr Raj Manek, Executive Director and Board Member, Messe Frankfurt Asia Holdings Ltd. “We are glad to have the support of the industry and our exhibitors who’s interests are at the center of this decision. We’re working on next steps to make the process easy and ensure business continuity for the industry going forward,” added Gaurav Juneja, director, MEX Exhibitions Pvt. Ltd.

The organisers intend to announce the new Mumbai launch dates in the coming weeks, after consultations with industry stakeholders. The Delhi edition continues to be on schedule from August 21-23, 2020.

Posted March 16, 2020

Source: Messe Frankfurt

Sustainably Successful — Positive End Of The Financial Year For Nonwovens Manufacturer Sandler Group

Sandler’s Perry, Ga., location

SCHWARZENBACH/SAALE, Germany — March 13, 2020 — In keeping with the motto “inspired by the future”, Sandler again invested in the expansion of both company locations in the anniversary year. With a turnover of 322 million euros ($355 million), the nonwovens manufacturer again reports a successful year 2019.

Openness to new ideas and continuous development – Sandler’s concept for success

From a local wadding factory for upholstered furniture to a high-tech nonwovens producer: Last year, Sandler was proud to celebrate 140 years of company history, being managed today in the fourth generation by Dr. Christian Heinrich Sandler. Continuity in leadership, openness to new ideas and continuous development in products are the basis for this Upper Franconian success story. Bavaria’s Prime Minister Dr. Markus Söder, MdL, emphasized this particularity in his speech on occasion of the company anniversary celebration, stating that “a company can only shape the future if they continue to evolve — just as Sandler does “.

Increase in employees to 880 worldwide

Despite challenges regarding raw material prices in some sales markets — these were lower, resulting in price demands from customers — Sandler Group was able to keep its turnover constant at  322 million euros and achieve good earnings. These positive year-end results create the basis for further growth in the dynamic market environment of the nonwovens industry. During the past year, the 880 Sandler employees in Schwarzenbach and Perry, Ga., developed new nonwoven solutions, steadily expanding the product range and the company’s position as a partner to international customers. Heat-insulating and sound-absorbing materials for the construction industry and room acoustics; efficient filter media for clean air in buildings and vehicles; soft upholstery materials for furniture and bedding; skin-friendly materials for hygiene products; absorbent wipes substrates for cosmetics and household as well as sound insulating nonwovens for more driving comfort in automobiles, buses and trains.

Investments in the double-digit million Euro range

In 2019, the company again invested heavily. A double-digit million euro amount went into the expansion of the headquarters in Schwarzenbach: Two new nonwovens manufacturing lines increase production capacity in technical applications and are the basis for the expansion of business activities.

Sandler is also gradually expanding its U.S. subsidiary — Sandler Nonwoven Corp. in Perry, Ga. — into a competence centre for nonwovens manufacturing. To the northwest of the existing company building, the new 135,000 square feet. building has taken shape in recent months. In the coming weeks, the assembly of a further manufacturing line for nonwovens for hygiene applications will commence here. Start of production is scheduled for autumn this year.

The investment in the USA strengthens Sandler’s position as one of the largest nonwovens manufacturers worldwide. It is part of a series of investments announced on occasion of the company’s anniversary celebration.

Expansion of the share of alternative raw materials

Sustainable business practices for the benefit of staff members, the people in the region, business partners and users of Sandler products has always been one of the cornerstones of the company’s philosophy — in the economic, social and ecological sense.

Therefore, Sandler also takes up the task of creating new product solutions which contribute to the conservation of valuable resources by increasing the use of alternative raw materials. Already today, the company uses about 30-percent renewable and recycled raw materials.

140th anniversary with staff party

On occasion of Sandler’s 140th anniversary, management and staff looked back on company as well as family history. In May, the anniversary was celebrated together with high-ranking guests from politics and business. In mid-July, special moments of the past years and the milestones achieved together were the focus of the Sandler staff party. The management team, employees and their families came together here — with 1,600 guests one of the highlights in the anniversary year.

Outlook

With its committed employees, cross-technology know-how and close partnerships along the entire value chain, Sandler is excellently positioned to master the current challenges and to continue to advance its markets with product solutions for tomorrow.

Posted March 16, 2020

Source: Sandler AG

Printing Technology Industry Veteran Evandro Matteucci Joins Electronics For Imaging (EFI) As Vice President & General Manager For Building Materials And Packaging

FREMONT, Calif. — March 16, 2020 — Electronics For Imaging Inc. (EFI) has named printing technology executive Evandro Matteucci vice president and general manager, Building Materials and Packaging. Matteucci, a long-time senior leader at Kodak™ who is starting in his new position today, replaces former vice president and general manager José Luis Ramón Moreno, who has departed to pursue other career opportunities.

Matteucci has responsibility for the Almassora (Castellón), Spain-based EFI™ Building Materials and Packaging business, which manufactures a portfolio of award-winning solutions, including the industry’s leading, and most technologically advanced, single-pass inkjet corrugated board and ceramic products — the EFI Nozomi C18000 direct-to-board printer and EFI Cretaprint® tile decoration printers.

Matteucci’s role also includes directing operations for EFI’s new, award-winning Cubik line of single-pass printers for wood, concrete and polymer materials. In addition, he will manage the Almassora facility’s development and commercialization of high-quality single-pass inkjet solutions in new and adjacent markets.

“I would like to thank José Luis for his dedication and contributions to EFI and wish him all the best in his future endeavors,” said EFI Chairman and CEO Jeff Jacobson. “I am also very pleased to welcome Evandro into his new role, where he will deliver sound, customer-focused management advantages that reflect his extensive print technology expertise. I know he will make a significant impact as we continue to bring more productivity, value and innovation to the markets we serve.”

Matteucci’s international career spans more than 25 years in the printing industry in sales, marketing and general management roles. Most recently, he was global VP for Marketing, Business Development and Product Management in the Kodak Print Systems Division. Matteucci, who first joined Kodak in 2005, has also served as Kodak Print Systems’ regional vice president and general manager for the Asia Pacific, Middle East/Africa and Latin America regions. Prior to that, he was Kodak’s APAC regional vice president and general manager for prepress solutions and workflow software. He has also served as Kodak’s EMEA-region vice president of marketing, as well as regional vice president and general manager for Kodak’s prepress operations in EMEA. Prior to working for Kodak, Matteucci held a regional leadership position with Kodak Polychrome Graphics, a joint venture between Kodak and Sun Chemical.

Throughout these positions, he has gained significant expertise in digital print hardware, software and workflow, with keen insights on successful tech development and real-world implementations that help users profitably grow their businesses.

Matteucci’s path in print began in his native Brazil at SENAI-SP Theobaldo de Nigris, where he obtained a Graphics Arts Technician degree. He earned a Bachelor of Arts in Communications and Marketing and an MBA in Brazil as well. Matteucci also holds an Advanced Management Program degree from IPADE in Mexico City and, most recently, completed Harvard Business School’s General Management Program.

“EFI is in a very exciting phase right now, and I am pleased to participate in the groundbreaking work taking place to make it an even more innovative company,” said Matteucci. “EFI’s Nozomi and Cretaprint solutions have had unparalleled impact driving the analog-to-digital transformation, and I am dedicated to continuing that momentum by helping customers capture new opportunities.”

Posted March 16, 2020

Source: Electronics For Imaging (EFI)

Techtextil North America and Texprocess Americas Postponed: Rescheduled For December 15-17, 2020 At The Georgia World Congress Center In Atlanta

ATLANTA — March 13, 2020 — Today, Atlanta-based Messe Frankfurt Inc. announced it is postponing the collocated Techtextil North America and Texprocess Americas shows that were scheduled to take place at the Georgia World Congress Center in Atlanta, May 12-14, 2020.

In a statement, Show Director – Technical Shows: Textiles, Sewn Products, Equipment and Technology Kristi Meade, said:

“In light of the worldwide spread of COVID-19 and after heavy analysis in collaboration with event stakeholders, including our partners at ATME-I and co-producers at SPESA, we have collectively decided to postpone Techtextil North America and Texprocess Americas.

Up until this point, we were optimistic that May was far enough away to proceed with the events as planned. However, as the situation has evolved, we feel that we must act in the best interest of our exhibitors, visitors, and the industry overall.

The co-location of Techtextil North America and Texprocess Americas has become one of the most important meeting places for the technical textile, nonwovens, and sewn products industries. It is here that textile professionals have the opportunity to connect with leaders of industry across all sectors to facilitate the exchange of ideas and generate new business partnerships. With this in mind, we consider it of utmost importance to continue to serve the industry, therefore, Techtextil North America and Texprocess Americas will now take place December 15-17, 2020 at the Georgia World Congress Center in Atlanta, Georgia.

We have considered the wide-range of impacts this will have on our exhibitor and visitor base, and we appreciate your continued support and understanding as we continue to navigate this situation together. Please contact any member of our team with questions or concerns.”

Posted March 13, 2020

Source: Messe Frankfurt

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