PVH Corp. Announces $1 Million Contribution To Fordham University’s Gabelli School Of Business

NEW YORK CITY — January 2, 2020 — PVH Corp. — apparel company and owner of iconic brands including CALVIN KLEIN, TOMMY HILFIGER, Van Heusen, Speedo*, and IZOD — launches a new partnership with the Gabelli School of Business at Fordham University, to establish a leading academic hub for the study of Corporate Responsibility (CR) and Sustainability.

The partnership will work to develop students into the conscientious business leaders of tomorrow. It is designed to advance relationships between industry and academia to enhance sustainability curriculum and convene global thought leaders. A range of programming and opportunities will be made available, including a quarterly lecture series, a number of research programs for both faculty and students, and new academic offerings for undergraduate and graduate students.

PVH Chairman and CEO Manny Chirico graduated from The Gabelli School of Business and currently sits on the Board of Trustees of the University. In 2018, Manny received an honorary Doctorate of Humane Letters from the university. “This partnership demonstrates PVH and Fordham’s shared commitment to educate the future by harnessing the power of corporate responsibility for both financial successes and societal impact,” Chirico said.

“Our partnership with PVH Corp. reflects an innovative model for the Gabelli School — one that takes a holistic, multi-stakeholder approach toward creating impact,” said Dr. Donna Rapaccioli, dean of the Gabelli School of Business. “The partnership will prove that two organizations with very similar values, but in very different industries, can meaningfully connect to support social and environmental good at a time when we need it most.”

Leveraging the synergies between PVH’s Forward Fashion CR strategy and Gabelli School’s recognition as a worldwide leader in socially conscious business education, the partnership will build on the shared belief of businesses’ responsibility to create a sustainable and responsible future. PVH and Fordham University are passionate about working together to foster an innovative and entrepreneurial spirit in the next generation of leaders to help drive fashion forward — for good.

Posted January 2, 2020

Source: PVH Corp.

Kelly Rowland And Fabletics Kick Off 2020 With A New Limited-Edition Winter Collection

LOS ANGELES — January 2, 2020 — Fabletics is excited to announce the launch of the new Kelly Rowland for Fabletics collection. Delivering on their shared mission to make women feel confident and beautiful, this capsule marks Kelly’s third collaboration with the brand. Launching on January 1, her latest show-stopping line introduces exclusive, ultra-feminine silhouettes that truly define confidence you can wear.

Inspired by the golden hour, the new pieces offer chic, functional, monochromatic designs in a rich color palette of warm espresso, maroon and tan hues. Constructed in ultra soft performance fabrics, Kelly’s capsule blends covet-worthy style with amazing comfort. Activewear essentials are paired with all-new lifestyle layering pieces, making every outfit perfect for everyday life — whether it’s going to the gym, recording studio, brunch with your friends, or lounging at home.

“I love how beautiful and luxe this capsule looks and feels. I’m all about embracing your natural curves and being proud of your body, and I think all women will feel amazing in these pieces,” said Rowland. “When I wear this collection, I feel like I’m always walking in my best light and know I can take on anything with confidence.”

Just in time for the New Year, Rowland’s Winter 2020 collection introduces fresh styles with technical performance details and soft compression fabrics that will inspire women to start the year off strong. New silhouettes include the Tricot Wide-Leg Pant and the High-Waisted PureLuxe Trapunto Legging. The capsule features two ribbed seamless bras in brand new halter and crossback styles. Lingerie-inspired details were fused into the line through corset-style bras with beautiful seams that contour the body. Staying true to her last two collections, Rowland’s Winter 2020 capsule also includes a new strappy bodysuit, available in sizing XXS-4X.

The Kelly Rowland x Fabletics Winter collection will be sold across 10 countries and will be available on Fabletics.com as well as in the 36 Fabletics retail stores nationwide starting on January 1, 2020.

Posted January 2, 2020

Source: Fabletics

CIT Completes Acquisition Of Mutual Of Omaha Bank

NEW YORK CITY — January 2, 2020 — CIT Group Inc. today announced that its banking subsidiary, CIT Bank, N.A., completed the acquisition of Mutual of Omaha Bank on Jan. 1, 2020. This transaction advances CIT’s strategic plan through the addition of a stable, lower-cost homeowner association deposit channel from the market-leading community association banking business. The acquisition will also build on CIT’s commercial banking strengths through the addition of relationship banking teams and expanded product and technology solutions.

“The completion of this transaction accelerates CIT’s strategic plan to further enhance our capability as a leading national bank and create additional long-term shareholder value,” said CIT Chairwoman and Chief Executive Officer Ellen R. Alemany. “The addition of the homeowner association deposit channel has significant growth potential and will reduce CIT’s overall cost of funds, and the middle market banking franchise will expand our footprint and customer base. These capabilities complement CIT’s core strengths and will allow us to unlock greater potential and create an even stronger company.”

The purchase price was approximately $1 billion, comprised of $850 million in cash and about 3.1 million shares of CIT stock, which were issued to Mutual of Omaha Insurance Co. The transaction includes $6.8 billion in deposits, $4.5 billion of which are community association deposits, and $8.3 billion of total assets, including $3.9 billion of middle-market commercial loans, as of Sept. 30, 2019. In total, CIT now has approximately $42 billion of total deposits and $60 billion of total assets[1].

“We are excited to welcome the teammates and clients of Mutual of Omaha Bank to the CIT family,” Alemany continued. “We look forward to strengthening existing relationships, building new ones, and continuing to deliver value for our customers, colleagues, shareholders and communities.”

Mutual of Omaha Bank will begin to transition to the CIT brand and the retail branch locations will adopt the CIT Bank brand over the coming months. Customer accounts remain unchanged at this time and can continue to be accessed through Mutual of Omaha Bank branches, website, mobile apps and relationship managers.

[1] Pro forma financial data based on unaudited CIT and Mutual of Omaha Bank data as of Sept. 30, 2019

Posted January 2, 2020

Source: CIT

Textil del Valle South America Selects Kornit Digital For Direct-To-Garment Printing

ROSH HA’AYN, Israel — January 2, 2020 — Kornit Digital, a worldwide supplier of digital textile printing technology, today announced that Textil del Valle South America, a vertically integrated garment manufacturing company based in Peru, has chosen to implement Kornit’s digital direct-to-garment (DTG) printing technology at its 1.1 million-square-foot facility in Lima, Peru.

Textil del Valle services many of the world’s most prominent apparel brands, including global leaders in sports and athleisurewear.

“Kornit’s sustainable print technology provides the last piece of the puzzle, so we have the ‘full package’ for manufacturing the garment itself, imprinting it on demand based on the customer need, and shipping it ourselves, all from a single location,” said Juan Jose Cordova, general manager at Textil del Valle. “Our market has been veering away from stocking shelves with inventory that may or may not sell, and the Kornit solution helps our business and customers eliminate that uncertainty and risk. We are the most sustainable textile plant in the world, and Kornit enables us to continue answering market demands in an efficient, responsible manner.”

Textil del Valle develops and produces garments for global brands in North America, Europe, and the Americas. It was the first Peruvian textile company to obtain ISO 14001 certification, assuring customers of “a solid environmental behavior that fully controls the impact of its activities, products, and services on the environment.” Adoption of Kornit’s nontoxic pigment-based digital print technology aligns with this reputation.

“Textil del Valle supports brands like lululemon with an efficient business model that affords them terrific control and efficiency in fulfillment,” said Omer Kulka, Kornit’s vice president of marketing and product strategy. “Kornit extends that efficiency by providing the fastest, most brilliant, most eco-conscious prints available today, regardless of the garment or fabric involved. We’re proud to partner with them in delivering the apparel customers worldwide demand.”

Posted January 2, 2020

Source: Kornit Digital

WHI Announces Acquisition Of Composite Manufacturer Aerobond And Equipment Investments

FAIRFIELD, N.J./SPRINGFIELD, Mass. — December 31, 2019 — WHI Global LLC, a portfolio company of RVE Partners, announced today that it has acquired the assets of Aero-Bond Corp. through affiliated entity Aerobond Composites LLC.  Headquartered in Springfield, Mass., Aerobond is a manufacturer of composite structures and assemblies for aerospace and defense applications.

Since 1989, Aerobond has provided high performance composite structures and assemblies to aircraft OEMs and tier 1 suppliers. Aerobond’s capabilities include layup, compression molding, adhesive bonding, vulcanization and fabrication of a variety of composite materials including Kevlar, graphite and fiberglass. Aerobond maintains AS9100 Rev. D and ISO 9001 certifications.

Additionally, WHI recently completed the purchase of a Makino MAG3 5-axis high speed CNC milling machine with a 10-pallet MMC2 system as well as four Makino A81/A88 hard metal CNC milling machines with a 20-pallet MMC2 system. The machines are being installed in WHI’s facilities in Tulsa, Oklahoma and Fairfield, N.J., and are expected to come online in the first quarter of 2020.

“We are impressed with Aerobond’s composite fabrication capabilities,” said Al Altieri, CEO of WHI. “Together with our recent equipment purchases, WHI now offers a comprehensive suite of aerospace manufacturing capabilities for our customers. We are excited about the potential from these investments.”

“The Aerobond acquisition and equipment purchases represent important milestones in the evolution of WHI,” said David Caputo, managing partner of RVE. “These investments are representative of RVE’s buy and build strategy, where we seek to deploy additional capital following acquisitions to drive long term growth. We look forward to continuing to support WHI through this growth.”

Financing for the acquisition and equipment investments was provided by J.P. Morgan and Morgan Stanley Private Credit. Morrison Cohen LLP served as legal counsel to WHI.

Posted December 31, 2019

Source: WHI Global; RVE Partners

Supabsorb Tech Launches New Line Of Super Absorbent Industrial Floor Mats

BENSALEM, PA — December 30, 2019 — SupAbsorb Tech is excited to announce its expansion with the launch of its new line of SupAbsorb Tech rolls and spill mats. These affordable, durable, American-made oil-absorbing mats reduce business’ carbon footprint by utilizing locally sourced, quality recycled materials.

Originally developed for the oil industry to help with oil spills, these rolls and mats soak up large volumes of a variety of fluids efficiently, making workplaces safer and easier to maintain. These Industrial fabrics are suitable for railroad, automotive, manufacturing, industrial application, supermarkets, restaurant settings, and more. SupAbsorb Tech products eliminate the need for messy clay sorbent, chemical cleanup, and costly rental rugs.

“We’re thrilled to expand our operations to include the acquisition of a 21,000 square foot warehouse right next to our current location,” said Sid Sharma, president, SupAbsorb Tech.

“Widening the scope of the industrial textiles we offer allows us to serve even more businesses and help them make their workplaces safer and easier to maintain. We take pride in contributing to the American economy and look forward to diversifying our customer base with affordable, environmentally-friendly products that are made in the USA.”

SupAbsorb Tech also cuts out the middleman, allowing businesses to purchase products directly from its Bensalem, Pa., manufacturing facility. The company offers convenient online ordering, fast shipping, competitive pricing, and top-quality products and customer service.

Posted December 31, 2019

Source: SupAbsorb Tech

Ascend Finalizes Plan For $175 Million Project In Decatur, Ala.

HOUSTON — December 23, 2019 — Ascend Performance Materials has finalized an agreement with the state of Alabama for economic incentives related to the construction of cogeneration units and expansion of adiponitrile (ADN) capacity at its Decatur, Ala., site. The $175 million project will expand ADN capacity, reduce the site’s environmental footprint and create new jobs.

Ascend’s board of directors approved the project, subject to finalized agreements with the state, Morgan County Economic Development Association and the City of Decatur. Construction will create 150 skilled jobs during construction, 10 high-end manufacturing jobs by project completion and reduce emissions by 60 percent. Ascend currently employs more than 400 people in the state of Alabama.

“The Decatur community is at the heart of our business,” said Phil McDivitt, Ascend’s president and CEO. “The ADN produced there is a critical building block for nylon 6,6, a high-performance plastic used in a variety of products from life-saving vehicle airbags to high-voltage electrical connectors.”

“Ascend Performance Materials’ facility has been an important part of Decatur’s business community for decades, and I’m pleased to see the company build on the partnership it has formed in Morgan County with this major investment,” said Governor Kay Ivey. “It’s always great to see a world-class manufacturer like Ascend decide to include Alabama in its growth plans.”

President of the Morgan County Economic Development Association Jeremy Nails added: “Morgan County is quickly becoming a center of excellence for manufacturing. We’re pleased that Ascend chose the city of Decatur to expand and help grow its economy.”

MasTec Power Corp., a wholly owned subsidiary of MasTec Inc., was selected to serve as the prime contractor for the project and will bring its 35 years of experience to provide innovative turnkey engineer, procure and construct (EPC) solutions and support. Construction will begin in the second quarter of 2020 and end in late 2021.

“MasTec Power Corp. is pleased and proud to be a part of this state-of-the-art power project that maximizes power and heat recovery, reduces Ascend’s carbon footprint and boosts the economies of Decatur and Morgan County. We anticipate this project will bring roughly 150 skilled jobs to the Decatur area in 2020 and 2021,” said Michael Donmoyer, executive vice president, MasTec Power.

Ascend’s site in Decatur is one of only four plants in the world that produce ADN on a large scale.

Posted December 23, 2019

Source: Ascend Performance Materials

Custom Tailored Dresses At Speed And Scale — Delivering The Perfect Fit In Three Days With A Revolutionary Approach To Sizing

LOS ANGELES — December 23, 2019 — New Manhattan today announced the launch of its Flagship brand Pose, offering women’s custom-tailored dresses. Its tailoring technology allows the company to custom tailor off-the-rack dresses based on four customer measurements. This revolutionary process eliminates the need for traditional sizing. Historically, brands have approached sizing through a generic model which has made it difficult for consumers to get a product that fits right. They are often left guessing on how a product will fit from one brand to the next and even product to product. New Manhattan’s technology creates a breakthrough in sizing and delivers the Perfect Fit every time. It launched Pose because it believes that every shopper deserves a product that fits their unique body style.

“Every single human being has features that they want to bring out — that they want to highlight regardless of their shape and size,” said Jonathan Sotoodeh, CEO. “When you get something tailored, our algorithm can highlight the features you want and also fits perfectly and makes you feel your best.”

What our customers are saying

  • They’re the perfect fit and even cuter than in the pics! Thank you!! ~Edina
  • The process was super easy to enter my measurements and the dresses were perfectly fitted. Thank you! ~Elise
  • Perfect fit! Already got a compliment ~Sandy
  • Every stylist emphasizes the importance of fit and tailoring. I think you are on to something big. ~Mary

Features and benefits

  • Selection — a large selection of the latest off the rack styles;
  • No sizes — every product is custom-tailored;
  • Technology — tailoring technology allows for customization within 24 hours; and
  • Speed — the product is in the customers’ hands within 3 days.

A limited offering of custom-tailored dresses is available now, with prices ranging from $80 to $150. For more information on our products and custom tailoring technology, visit https://pose.shop.

Posted December 23, 2019

Source: New Manhattan LLC

TRSA 2019 Performance, Compensation Reports Provide Vital Benchmarks

ALEXANDRIA, Va. — December 23, 2019 — Increased participation this year in the surveys of linen, uniform and facility services operators that generate the annual TRSA Industry Performance Report and Plant Employee Compensation Report has created more compelling industrywide financial data to identify strategies to facilitate long-term business success. These reports have been distributed at no charge to the 68 TRSA member operators who responded to the surveys and are now available for purchase at www.trsa.org/store.

Using 2018 financial data collected on a confidential basis and compiled by the MacKay Research Group of Boulder, Colo., these reports are the only industrywide research that enables operators to compare:

  • Income statements, balance sheets, financial and employee productivity ratios; and
  • Exempt employee compensation, non-exempt employee hourly wages and fringe benefit programs.

TRSA’s Industry Performance Report compiles data on operator member companies’ productivity, efficiency and financial performance by:

  • Annual sales volume (under $8 million, $8M-$12M, $12M-$30M, $30M+);
  • Number of locations (single, multiple); and
  • Market specialty [industrial, food and beverage (F&B) linen, healthcare, mixed].

Income and cost-per-pound statements for each of these categories break down merchandise, plant, delivery, sales and administrative expenses into a combined total of 22 line items. Return-on-investment and product profiles report strategic profit model ratios, sales by market, pounds per operator hour and delivery costs per route. Productivity statistics include each category’s median employees by function, turnover, wage and salary costs by function and sales per employee.

TRSA’s Plant Employee Compensation Report provides detailed salary, wage and fringe benefit results of operator member companies’ broken down by:

  • Annual sales volume (under $7.5 million, $7.5-15M, $14-40M, $40M+);
  • Number of locations (single, multiple);
  • Market specialty [industrial, food and beverage (F&B) linen, healthcare, mixed]; and
  • Regional analysis:
    • New England (states include CT, MA, ME, NH, RI, VT)
    • Mid-Atlantic (D.C., DE, MD, NJ, NY, PA, WV)
    • South (AL, AR, FL, GA, LA, MS, NC, SC, TN)
    • Midwest (IA, IL, IN, KY, MI, MN, MO, ND, OH, SD, WI)
    • West (AK, AZ, CA, CO, HI, ID, KS, MT, NE, NM, NV, OK, OR, TX, UT, WA, WY)
  • Overview of the position descriptions of the 12 salaried job positions used to compile the report.

Both TRSA members and nonmembers may purchase these reports (sold separately or bundled at a savings) through the TRSA webstore, www.trsa.org/store.

Posted December 23, 2019

Source: TRSA

Pottery Barn Teen Partners With Aquafil To Create Sustainable Rugs Made With Econyl® Regenerated Nylon

CARTERSVILLE, Ga. — December 23, 2019 — Pottery Barn Teen has partnered with Aquafil to create a rug for Spring 2020, called the Watercolor Dots Rug. Pottery Barn Teen substituted virgin nylon with ECONYL® yarn for its sustainable and regenerative qualities.

Econyl is made from waste that would otherwise pollute the world’s landfills and oceans — including fishnets, fabric scraps, carpet flooring and industrial plastic. Econyl reduces the global warming impact of nylon by up to 80 percent compared with material generated from oil. The sustainable yarn maintains the same purity and strength characteristics of nylon coming from fossil material.

Through the design and performance qualities of Econyl yarn, the rug brings a touch of life to any room with its playful design and mixed brushstrokes of diverse hues.

“The Watercolor Dots Rug blends beautiful design and quality performance. Pottery Barn Teen was so creative in their color detailing with this line, it was wonderful to see how they took advantage of the aesthetic capabilities of Econyl yarn to further the brand’s bold commitments to responsibly sourced product,” said Aquafil Chairman Giulio Bonazzi.

Posted December 23, 2019

Source: Aquafil

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