Indorama Ventures Reports 2020 First Quarter Results

BANGKOK, Thailand — May 13, 2020 — Indorama Ventures Public Co. Ltd. (IVL), a global chemical producer, announced its first quarter 2020 financial results as follows.

1Q 2020 Performance Summary

IVL registered Revenue growth of 15% during first quarter 2020 over fourth quarter 2019 and negative 3% year-on-year, including integration of newly acquired assets from Huntsman. COVID-19 global pandemic, as well as the historical collapse in the crude oil price, had a muted impact on IVL’s underlying business and operations.

IVL achieved a core EBITDA of $304 million (THB9.5B) and an operating cash flow of $340 million (THB10.6B), an increase of 51% and 28% quarter on quarter driven by combination of volume and margins growth in our three business verticals of Combined PET, Integrated Oxides & Derivatives as well as Fibers. We have taken proactive steps to reduce our inventories, reduce our capex by $300 million (THB 9.34B) and achieved our targeted costs savings under our “Olympus program’. Dividend is maintained at Baht 0.175 in line with last quarter on core EPS growth to Baht 0.25.

First quarter 2020 Operating Income was $148 million, lower year-on-year by 17% due to a near-term adverse impact on MEG and MTBE which is partially offset by improvements in PIA and PX. The quarter completed its planned turnaround in our PO/MTBE business, adversely impacting our operating income by about $51 million. Our Fiber portfolio was partially impacted by lockdowns in China, India and Italy. Our Mobility Fiber portfolio faces headwinds from GDP contraction. The quarter provided strong positive momentum to our global businesses of Hygiene Fibers and our Integrated PET leadership in both volumes and margins as well as management of our regional supply chains, during this period of enhanced demand.

During these complex times of the COVID-19 global pandemic coupled with an historic collapse in the crude oil price, IVL’s performance has shown tremendous resilience with its regionalized geographical footprint, market segment participation and feedstock adaptability.

Aloke Lohia, group CEO of Indorama Ventures, said: “IVL’s Core EBITDA grew in all three segments (Integrated Oxides and Derivatives, Combined PET and Fibers) and in all regions as our products primarily go into daily necessities and non-durable consumer goods having inelastic demands. Our liquidity is strong with cash equivalents of $600 million and committed drawable lines of $1.9 billion thus in total $2.5 Billion. Thus we have today three business verticals and a total of 10 sub-segments that blend in well together. This portfolio makes IVL much more integrated than ever before with diversified earnings streams. We participate in about dozen end-use market segments and our business now has scale, which creates tremendous resiliency and opportunity.

Project Olympus is on track and will bring in $76 million run rate cost savings in 2020. We decided to remain focused on our five strategic priorities (cost transformation, asset full potential, adjacency growth, recycling leadership and leadership development) as these are essential for sustainable advantages in the longer term.”

Posted May 13, 2020

Source: Indorama Ventures Public Company Limited (IVL)

OUTLIER Presents The “FU/COTTON T-SHIRT” Made Of 100-Percent Smart Cotton Options By TINTEX

CAMPOS, Portugal — May 13, 2020 — “Teaming Up Is The Responsible Way Forward”: that’s the motto of TINTEX to build a sustainable wardrobe. From cutting-edge developments and implementations in production and processes to collaborative partnerships that brought to environment-driven collections, TINTEX had a very rich in news trimester with a Naturally Advanced commitment

Jersey manufacturer Tintex has over time established itself as a global leader in smart innovation. For the new upcoming collections the company goes even beyond its pay-off Naturally Advanced to reach the new one — Naturally Advanced Evolution — that means working together to develop collections combining a strong environment-driven approach with cutting-edge technology.

The result of this positive approach gave rise to collaborations with premium brands such as OUTLIER.

OUTLIER makes hardcore, performance-driven clothing that empowers the wearer to do more while owning less.

The brand selected 100-percent smart cotton options by TINTEX to develop an experimental, box cut, heavyweight T-shirt, that they called FU/COTTON T-SHIRT.

A 8 ounce (280 grams per square meter) it’s very heavy for a tee, but thick cotton yarns knit at a low-gauge give the fabric a stand-off-the-body structure and hidden openness for wide ranging comfort, since on of the brand rule is to “never constrain what you do with your day”.

The T-shirt is enriched by a GOTS (Global Organic Textile Standard) certified 100-percent Organic cotton RIB for the neck.

The Global Organic Textile Standard (GOTS) is recognized as the world’s leading processing standard for textiles made from organic fibers.

Made in USA with Portuguese fabric.

Posted May 13, 2020

Source: TINTEX

Lucky Brand Re-Opens First Location; Has Donated Over 20k Masks From Their “Get 5, Give 5 For $25” Campaign

LOS ANGELES — May 13, 2020 — As retail locations re-open to the public, Lucky Brand remains committed to providing support to Charity Partners, Community Organizations, and its Family of Customers and Associates.

Beginning in March, in response to the need for PPE, Lucky Brand coordinated efforts across local apparel brands and vendors to procure, produce and educate consumers on non-medical face masks.  The brand first partnered with Suay Sew Shop’s mask initiative, providing denim fabric cuttings, funds and sharing DIY mask pattern templates with their consumer base.  Lucky Brand next worked with one of their LA-based factory partners,  New Fashion, to provide over 6,000 masks to be included, at no cost, in customer’s online orders.  The following week, the brand launched Give 5 Get 5, a mask purchase program that enabled customers to purchase a pack of 5 masks, and donates 5 to those in need.   As the program continues, by the end of this week, Lucky Brand will have donated over 20,000 masks to their charitable partners.

“Organizations we approach are often surprised that Lucky Brand wants to donate, instead of selling them face masks,” said Allison Charalambous, senior manager, Sustainability & Social Responsibility. “It has been extremely rewarding to support a variety of organizations that continue their valuable services throughout the LA county for veterans, the unhoused, housing insecure youth, low-income families, and seniors. Despite the risk, these organizations realize their services are essential, more than ever.”

Recognizing the importance of staying home to save lives,  Lucky Brand launched an Instagram-based game #WinFromHome to provide a dose of humor and levity aimed at rewarding those who remain home to help stop the spread of COVID-19 and protect front line and essential workers from exposure.  Contestants play for daily cash prizes  donated  to a 501c3 charity of their choosing, and winners receive free clothing for themselves and the essential worker they are playing for.

In parallel to their community involvement, Lucky has been preparing for the re-opening of their retail stores, sending health and safety kits containing additional cleaning supplies, sanitizer and reusable face masks.  The denim technical design team re-purposed available materials, such as promotional bandanas and fabrics from stock supplies, to create  hundreds of  reusable  cloth masks for store associates to use.

This week, Lucky Brand is proud to support the Los Angeles County Sheriff’s Department and the Veterans Affairs Police Department on May 13, as they coordinate a “Salute to Heroes” ceremony to pay tribute to the West Los Angeles Veterans Administration Hospital and its staff.  In gratitude for the front-line workers who have selflessly sacrificed throughout the COVID-19 pandemic, Lucky Brand will donate camouflage masks to be worn by multiple agencies, 150 t-shirts to Veterans Affairs, and — along with partner Avery Dennison —1,000 iron-on patches emblazoned with the word “HERO,” in recognition of the VA’s dedication to providing care and treatment for our veterans throughout this difficult time.

Posted May 13, 2020

Source: Lucky Brand Dungarees, LLC

SME’s Composites Manufacturing Tech Group Recognizes Leaders in Aerospace and Defense Manufacturing: Kurtis Willden, Receives With the 2020 J.H. “Jud” Hall Composites Manufacturing Award — Aligned Vision And The Boeing Co. Honored

SOUTHFIELD, Mich. — May 12, 2020 — SME, the professional association committed to advancing manufacturing professionals, academia and communities, today along with its Composites Manufacturing Tech Group, recognized an industry leader and two prominent composites manufacturing companies with 2020 Excellence in Composites Manufacturing Awards.

Composites combine different materials that work together to form, stronger, lighter or more durable new materials. Composites remain an important component of advanced aerospace manufacturing and have been applied to the automotive industry, appliances and consumer goods of every type.

2020 J.H. “Jud” Hall Composites Manufacturing Award

First awarded in 1986, the J.H. “Jud” Hall Composites Manufacturing Award recognizes innovation in solving issues related to production and applications development; it acknowledges significant contributions that reduce costs and waste streams and improves quality and efficiency.

Kurtis Willden, technical fellow, The Boeing Co., is the recipient of the 2020 J.H. “Jud” Hall Composites Manufacturing Award. He was recognized for his successes in the development and implementation of processes and equipment for large-composite aerospace structures. Willden is a highly skilled engineer and innovator whose ideas are used in production, saving tens of millions of dollars annually and millions of dollars in nonrecurring cost avoidance in the last 10 years at Boeing.

“During the next 20 years, our industry will see a strong demand for aircraft production to double the current 20,000 aircraft and replace half the existing aging air fleet,” said Willden. “Our aerospace factories around the world will significantly rely on our collective work in composites to improve processes, materials and quality, and to increase the throughput and efficiencies of our production systems. I am grateful for the opportunity that I have had in my career of over 30 years to contribute through innovation and work with other highly skilled engineers to push the state-of-the-art of composites within the aerospace industry.”

Throughout his career, Willden has received 47 patents, published more than 20 technical papers on composites in aerospace manufacturing, worked with NASA on significant advancements in composite processes and structures, and has earned many top Boeing corporate awards. He also has lectured and advised on composites manufacturing for Boeing global suppliers and several universities, including the University of Washington and the University of British Columbia.

2020 Excellence in Composites Manufacturing Award (Small and Large Company)

Aligned Vision received the 2020 Excellence in Composites Manufacturing Award (Small Company) for their instrumental achievements in bringing digital technologies to the composites industry.

The company’s technologies simultaneously accelerate fabrication rates and raise component quality, while generating as-built information that lets fabricators know how well the finished component matches the digital design. Aligned Vision utilizes 3D-laser projection for guidance of “light templates” in the composite manufacturing layup process, replacing physical mylar or fiberglass templates and reducing layup time by a reported 85%.

The Boeing Co. received the 2020 Excellence in Composites Manufacturing Award (Large Company) for innovative tooling and manufacture of its 777X aircraft, which incorporates the longest, single-piece composite wing spar. Thanks, in part, to the composite wing, the 777X will allow airplanes to carry more people more efficiently and in exceptional comfort. The composite wing spar is the latest milestone in a decade of development, design and build of this innovative airplane family and its production system.

The Excellence in Composites Manufacturing Awards, which traditionally are given at SME’s annual AeroDef Manufacturing event, are being presented independently in 2020.

Posted May 12, 2020

Source: SME

Nish Vartanian Elected Chairman Of MSA Safety Inc.

Nish Vartanian

PITTSBURGH — May 12, 2020 — The Board of Directors of MSA Safety Inc. today announced the election of Nish J. Vartanian to the position of chairman, succeeding William M. Lambert, who will continue to serve the company as a director. Vartanian, 60, is the sixth chairman in the history of the 106-year-old Pittsburgh-based company — a global leader in the development and manufacture of innovative technologies that help protect people’s health and safety, and facility infrastructures.

Vartanian became an MSA director in 2017 and was elected president and CEO in May, 2018. He will continue in his role as MSA’s President and CEO.

“I want to thank and recognize Bill Lambert for his leadership, integrity and governance over many years, as well as his longstanding commitment to the business and mission of MSA,” Vartanian said. Lambert, who joined the company in 1981 as a design engineer, became a Director of MSA in 2007 and was elected chairman in 2015.  Mr. Lambert served as MSA’s CEO from to 2008 up until his retirement in 2018.

As chairman, president and CEO, Vartanian will continue to drive the future performance of the company and its focus on pioneering innovation in safety product technologies.  “Our strategic vision is built on leveraging our talent and product portfolio to achieve leadership positions in key geographies and market segments around the world,” Vartanian said.

“Over the years, our team has strengthened MSA’s global brand as a leader in the development of game-changing technologies that enhance worker safety. I am grateful for the Board’s confidence and am extremely proud to have the opportunity to help continue that legacy,” he said.

Vartanian joined MSA in 1985 as a sales intern and shortly thereafter moved into a sales position working in the Atlanta, Ga., area.  Over his 35-year career with the company, Vartanian has served in a variety of capacities, including U.S. National sales manager; director of North America Commercial Sales and Distribution; vice president and global business leader for MSA’s Fixed Gas and Flame Detection business; vice president of MSA North America; and senior vice president and president, MSA Americas.

A graduate of the University of Massachusetts Amherst, Vartanian received a bachelor’s degree in business management in 1983. In addition to his MSA responsibilities, Vartanian serves on the Board of Trustees for the Manufacturers Alliance for Productivity and Innovation (MAPI), the Board of Trustees for the International Association of Firefighters (IAFF) Foundation, and the Board of Trustees of the Allegheny Conference on Community Development (ACCD), chairing the Infrastructure Committee.

Robert A. Bruggeworth, the board’s lead independent director, commented, “Nish has done an excellent job in guiding the company over the past two years, and particularly so through this challenging COVID-19 environment. We wish to thank Bill for his outstanding leadership as Chairman, and in Nish, we have an experienced and dynamic leader in whom our entire Board has full confidence.”

Posted May 12, 2020

Source: MSA Safety

NC State Partners With IFAI To Offer Weekly Webinar Series On PPE Properties, Production And Testing

ROSEVILLE, Minn. — May 7, 2020 — Textile manufacturers have responded to the COVID-19 crisis in unprecedented ways, rapidly retooling production lines to manufacture materials and products for personal protective equipment (PPE). Many of these companies face challenges from understanding performance requirements and new materials, to navigating a challenging maze of testing requirements and use guidelines.

To help the industry address these challenges, NC State’s Wilson College of Textiles has partnered with IFAI — with sponsorship from IPC, SEAMS and SPESA — to create a series of webinars on PPE production and design.

Upcoming Webinars in the Series
Intro to PPE Production Featuring Q&A with NC State’s Wilson College of Textiles
May 12, 2020 | Noon–1 pm CST
Free for Members and Non-Members
In the first webinar, we’ll introduce some basic principles of PPE production and have a panel of experts in PPE testing and design, nonwoven and filtration materials, and medical textiles from NC State on hand to answer your critical questions.

Nonwovens Technology in the Production of PPE
May 19, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

Principles of Air Filtration Materials and Design
May 26, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

Classifications and Testing Requirements for PPE in Medical Environments and Personal Use
June 2, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

Key Principles for Effective Protection with Masks and Respirators
June 9, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

Surgical Gowns, Level 2-4:  Materials, Design, Assembly, Testing, Evaluation, Standards
June 16, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

PPE Surface Chemistry and Surface Interactions
June 23, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

Ask a Virologist – Coronavirus: What We Know, What We Don’t
June 30, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

TBD Depending on Expressed Interest by Participants
July 7, 2020 | Noon–1 pm CST
Free for Members and Non-Members
Registration opening soon

View the IFAI list of events to learn more about the webinars and to register.

Posted May 12, 2020

Source: IFAI

Americhem Announces New Webinar Series

CUYAHOGA FALLS, Ohio — May 11, 2020 — Americhem — a designer and manufacturer of custom color masterbatch, functional additives, engineered compounds, and performance technologies — has announced a new webinar series that will start on May 14, 2020.

“Antimicrobials in Plastics 101” is a webinar class that will teach you how antimicrobials make the everyday items around us inhospitable to microbes and how you can use them as additives in masterbatch and compound polymeric solutions. And your burning questions answered on the spot!

Key Takeaways:

  • What is an antimicrobial & how does it work
  • What are the benefits of using antimicrobial additives
  • Which end applications are antimicrobials used in
  • And your burning questions answered on the spot!

Event Details:

Thursday, May 14
9:00-9:30am EST

Presented by Matthew Miklos and Dr. Vaman Kulkarni

If you want join the “Antimicrobials in Plastics 101” webinar on May 14 at 9:00 a.m. EST, register here.

Posted May 12, 2020

Source: Americhem

Low & Bonar Is Now Part Of The Freudenberg Group

WEINHEIM, Germany — May 12, 2020 — The global technology group Freudenberg has acquired 100 percent of the shares in Low & Bonar PLC, London. Freudenberg submitted an offer in September 2019. The Low & Bonar shareholders approved the sale in November 2019, the European Commission authorized the merger on April 17. Low & Bonar PLC will be delisted from the London Stock Exchange on May 13 at 8 a.m. local London time. Low & Bonar is a global manufacturer of technical textiles. The company will be integrated in the Freudenberg Performance Materials Business Group.

“Freudenberg strengthens its performance materials business, and with Low & Bonar’s innovative technology it can further expand its technological know-how,” said Dr. Mohsen Sohi, Freudenberg Group CEO.

Dr. Frank Heislitz, CEO of Freudenberg Performance Materials emphasized: “As a pioneer in spunbonded nonwoven production, Freudenberg has offered its customers materials manufactured with a one-step production process since 1968. Thanks to the two-step process solution from Low & Bonar, we can be even more flexible and individually tailor products to customer specifications.” Freudenberg can also expand on its broad product range. This is particularly true for the current application in the construction, interior build out, home textile and automotive sectors.

“We are also opening new fields for Freudenberg with new applications thanks to Low & Bonar’s complementary technologies,” Heislitz said. The acquisition of Low & Bonar which was founded in 1903 and headquarters in London means Freudenberg Performance Materials now has 35 production facilities in Asia, Europe and North America (previously 24) and employees some 5,500 employees (previously some 4,000).

Same views on quality and sustainability

Just like Low & Bonar, Freudenberg uses leading edge technologies to develop and manufacture its fabrics and textiles and for refining textiles and materials. The products from both companies are top quality. Freudenberg and Low & Bonar also have identical sustainability processes. The goal of both companies is to be responsibly sustainable in their actions. Sustainability is integrated in the entire product cycle, including the use of raw materials and energy as well as the entire manufacturing process. International standards are not merely satisfied but exceeded.

Posted May 12, 2020

Soure: Freudenberg

Mitsui Chemicals Starts Developing New 3D-Printed Mask With Nagoya University And Spinoff Venture

TOKYO — May 11, 2020 — Mitsui Chemicals Inc. has begun working on the development of a new, reusable 3D-printed mask with Professor HORI Katsutoshi of the Graduate School of Engineering at Nagoya University1 and Friend Microbe Inc.2 a spinoff venture from Nagoya University.

The new mask’s key feature is the fact that it not only filters out viral particles but also can be reused.3

The mask consists of a reusable body and a disposable filter. Mitsui Chemicals will provide the nonwoven disposable filter, which removes viral particles. Professor HORI has produced the mask body using a 3D printer and is investigating enzyme preparations and various other antiviral agents that could be applied to it. Plans are to produce a mask with consideration of design and comfort while also ensuring that it provides outstanding protection against viruses.

In working together with a university, a university startup and a materials manufacturer, Mitsui Chemicals aims to offer socially beneficial solutions and tie this into the development of novel products that will help shape the next generation.

The nonwoven fabric is produced at Mitsui Chemicals’ plants in Nagoya and Yokkaichi. Wholly owned subsidiary Sunrex Industry Co., Ltd. (Yokkaichi, Mie Prefecture; President: KAWAHITO Koichiro)4 is meeting strong demand from existing customers thanks to expanded production facilities for the meltblown nonwovens used in masks, which went online in January 2020.5

1 Professor HORI Katsutoshi, Graduate School of Engineering, Nagoya University, https://www.chembio.nagoya-u.ac.jp/labhp/life3/index.html
2 Friend Microbe Inc. https://friendmicrobe.co.jp/
3 Reports on tests by Nelson Laboratories, LLC attest to the viral filtration efficiency (VFE) and particle filtration efficiency (PFE) of the nonwoven fabric slated to be used in the new mask.
4 https://www.sun-rex.jp/
5 https://jp.mitsuichemicals.com/en/release/2020/2020_0324.htm

Posted May 12, 2020

Source: Mitsui Chemicals Inc.

BELLA+CANVAS Pivots To Make Face Covers And Becomes Largest Global Manufacturer Of Non-Medical Face Masks: Largest North American Manufacturer Of T-shirts Will Produce 100 Million Face Covers A Week

LOS ANGELES — May 11, 2020 — BELLA+CANVAS, manufacturer of premium wholesale apparel today announced it is producing up to 100 million face covers a week, making it the largest global manufacturer of non-medical masks in the world. The company pivoted in production as a response to COVID-19, converting its cutting manufacturing floors and retooling its machines from making millions of T-shirts, to up to 100 million face covers a week with the most advanced “no-sew” and “human-touch-free” technology available.

Dan Harris and Marco DeGeorge who co-founded BELLA+CANVAS in 1992, growing it to be the largest manufacturer of T-shirts in North America, quickly stepped in to address the shortage of masks and to do their part to help flatten the curve with their face covers.

“One of the biggest advantages we have is the ability to produce in high volumes in a short amount of time. And in doing so, we have become the largest non-medical face mask manufacturer in the world, helping to support jobs and wages in the United States,” Harris said. “By choosing to manufacture in Los Angeles we are keeping thousands of people employed when unemployment is at a historical high.”

BELLA+CANVAS is prepared to increase production output to meet the growing need for face covers in the United States, with its Gold W.R.A.P. certified facilities. The face covers are made from the highest quality Airlume combed and ringspun cotton, eco-dyed using Blue Sign Certified non-toxic chemicals, and 100 percent of the scraps are recycled.

“We are confident that our face covers are predicated on the CDC’s guidance that simple fabric face coverings are very effective means in helping to flatten the curve,” said DeGeorge said. “We’ve also invested to ensure we are compliant with the FDA’s evolving guidelines and requirements pertaining to non-medical fabric face masks.”

To assist in meeting new CDC guidelines that everyone should use cloth face coverings, especially in areas of significant community-based transmission, BELLA+CANVAS has committed to donating at least five million face covers to organizations directly serving the homeless, healthcare frontliners, first responders and underserved communities. Additionally, through a partnership with the United States Conference of Mayors, BELLA+CANVAS is donating 1 million face covers, which allows 1,400 U.S. mayors to obtain and distribute to their communities.

Additionally, BELLA+CANVAS has volunteered to join the Textile Coalition, working with the White House Coronavirus Task Force to help produce heavily engineered masks and is prepared to make 1.5 million masks per week. BELLA+CANVAS is also partnering with the National PPE Coalition, working to bring crucial partners together to build an efficient and unified supply chain for medical and non-medical PPE.

Distribution of BELLA+CANVAS face covers include wholesale, retail and donations. For more information visit masks.bellacanvas.com.

Posted May 12, 2020

Source: BELLA+CANVAS

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