Owens Corning Announces CEO Mike Thaman Retirement And Succession Plan

TOLEDO, Ohio — January 3, 2019 — Owens Corning announced today that its Board of Directors elected Brian D. Chambers, 52, current president and COO, to succeed Mike Thaman as CEO, effective April 18, 2019. Thaman, who has served as chairman since 2002 and as CEO since 2007, announced his retirement as CEO and will remain with the company in the role of executive chairman.

“On behalf of our Board of Directors, we are pleased to elect Brian as our next CEO, the 8th CEO in our company’s 80-year history,” said Mike Thaman, CEO. “Brian is a proven and respected leader who has delivered strong operating results through a relentless commitment to our customers and to our people. I am confident that Brian will lead our 19,000 employees to achieve great success in the years to come.

“Having served 11 years as CEO and nearly two decades in executive leadership, I feel this is the right time for a leadership change. It has been my honor and privilege to serve this great company. I am proud of the people of Owens Corning and the businesses we are building.”

Chambers, who was promoted to president and COO in August 2018, will retain the title of President as he assumes the CEO role. Previously, he served as president of the Roofing business since 2014. Overall, he has 15 years of management experience with Owens Corning in a variety of positions, including roles with the company’s Composites and Building Materials businesses. He also spent over three years as the president of Saint-Gobain’s Distribution business in North America following Owens Corning’s divestiture of the business in which he served as President. Over the course of his career, Chambers has held a number of senior operating roles across a range of businesses and geographies.

“This announcement is the successful culmination of a multiyear succession plan to select the best leader for the company. Brian has worked closely with the Board over the past several years, and we look forward to what he will bring to the company as CEO,” stated John Williams, Lead Independent Director of Owens Corning’s Board of Directors. “On behalf of the Board, I want to thank Mike for his tenure as CEO. Under his leadership, the company has significantly grown revenues and profitability, and created a sustainable enterprise that is well-positioned for the future. I would also like to thank Mike for continuing as the company’s Chairman and facilitating the change in leadership during the transition period.”

Chambers stated: “I am honored to be named the next CEO of Owens Corning, and want to thank both Mike and the Board for the confidence they have placed in me to lead this strong organization. I welcome working with Mike as Executive Chairman and benefiting from his experience as we continue to grow the company.”

Posted January 4, 2019

Source: Owens Corning.

Motion Industries Promotes Joe Limbaugh To
 SVP Supply Chain, Operations Support And Marketing

BIRMINGHAM, Ala. — January 4, 2019 — Motion Industries Inc., a distributor of maintenance, repair, and operation replacement parts and a wholly owned subsidiary of Genuine Parts Co., announced today the promotion of N. Joe Limbaugh to the position of senior vice president of Supply Chain, Operations Support and Marketing, effective January 1, 2019. Limbaugh will report directly to the President of Motion Industries.

Limbaugh began his career in 1983 in Bourbonnais, Ill., in an entry level position with Berry Bearing Co., which was later acquired by Motion Industries. In 1989, he relocated to Peoria, Ill., where he continued to achieve higher levels of success working as Operations Manager, Branch Manager, and then Corporate Sales Manager. In 2007, Limbaugh accepted the position of Vice President General Manager of the Birmingham Division. He returned to Chicago in 2009 to assume the role of Vice President General Manager of the Chicago Division. In 2013, Limbaugh was asked to return to Motion’s Birmingham headquarters as Vice President of Operations, Distribution, and Properties.

“Joe has a wealth of experience, both in field sales and branch operations, as well as in corporate functions including logistics, distribution, properties and facilities management,” stated Randy Breaux, Motion Industries President. “Additionally, Joe’s creative and marketing intelligence makes him uniquely qualified to lead Motion in several disciplines. During the past five years, I have watched Joe master every challenge presented to him. I am very excited to see Joe take our Supply Chain and Marketing efforts to a new level.”

Posted January 4, 2019

Source: Motion Industries, Inc.

Cashmere And Camel Hair Institute Announces New Staff To Support Global Mission

BOSTON, Mass. — January 4, 2019 — The Cashmere and Camel Hair Manufacturers Institute (CCMI), the organization for the world’s leading processors of luxury animal hair fiber, announces Fabio Garzena as president, the second person to hold this position in the 34 year history of the organization. Garzena first joined the Institute in 2015 as European Representative. Before that he was with Australian Wool Innovation and the Woolmark Company. Garzena will operate from Graglia, Italy.

Karl Spilhaus, who organized the Boston based Institute in 1984 and served as President until now, will continue to counsel the Institute as President Emeritus, drawing on his four decades’ plus experience in the global textile industry.

Concurrent with these changes, the Institute announces that David Trumbull has been named USA Representative and will manage the Institute’s U.S. affairs from an office in Boston.

Kenneth Shimizu, Japan Representative, will continue to manage the Institutes’ activities in Asia from an office in Tokyo.

The Cashmere and Camel Hair Manufacturers Institute was founded to protect the consumers, serious manufacturers and retailers from fraud on cashmere and superfine wool. CCMI also protects the good name of cashmere and other luxury animal fiber products through the encouragement of sustainable grazing practices and responsible business practices generally.

Posted January 4, 2019

Source: The Cashmere and Camel Hair Manufacturers Institute (CCMI)

Ascend Performance Materials Growing Greenwood County Operations 

COLUMBIA, S.C. — December 18, 2018 — Ascend Performance Materials  is expanding its Greenwood County operations once again. To accommodate the company’s continued growth, Ascend is investing $35.2 million, creating 30 new jobs.

With six manufacturing plants in the southeastern United States and Europe and more than 3,200 employees and contractors around the world, Ascend is a global leader in the production of nylon 6/6 fibers, resins and compounds. The company supplies a wide range of industries and applications, from apparel to airbags, cable ties to circuit boards and carpets to car parts.

Located at 1515 Highway 246 South in Greenwood, S.C., Ascend plans to upgrade several lines in early 2019 to increase capacity of nylon polymer production. Last year, the company added 24 million pounds of staple fiber production capacity at the facility. Those interested in joining the Ascend team should visit the company’s careers page online.

“The polymer we make at Ascend in Greenwood forms the building blocks for things we use every day, from air bags to high-end carpet to tennis balls,” said Ascend Performance Materials Senior Site Director Hal McCord. “Thanks to the hard work of our employees and the support of leaders in Greenwood County and South Carolina, this expansion will allow us to increase our polymer production by 50 percent, creating more jobs for local residents.”

“Today, we’re proud to celebrate another win for one of South Carolina’s existing firms,” said S.C. Governor Henry McMaster. “Ascend Performance Materials’ decision to double down on its commitment to Greenwood County is proof that South Carolina’s economic development strategy is working, and we look forward to continued success for this great company across our state and beyond.”

“I congratulate Ascend Performance Materials on this wonderful news out of Greenwood County,” said Secretary of Commerce Bobby Hitt. “This expansion reaffirms the company’s commitment to our state and serves as another indication that South Carolina’s business-friendly climate and strong workforce are helping our existing businesses grow.”

“We are excited that Ascend Performance Materials is once again expanding in Greenwood County,” Greenwood County Council Chairman Steve Brown said. “Ascend Performance Materials has been an exemplary member of our manufacturing community for the past 58 years, and we look forward to continuing this partnership for years to come. Thanks for your commitment.”

“Greenwood, S.C. has a long history in advanced materials manufacturing, and it is gratifying to see Ascend Performance Materials’ expansion as a validation of our skilled workforce,” said Greenwood Partnership Alliance Chair Dr. Kristin Manske.

FAST FACTS

  • Ascend Performance Materials is expanding its Greenwood County operations.
  • $35.2 million investment to create 30 new jobs.
  • Ascend is a global provider of high-quality fibers, chemicals and plastics for a variety of markets.
  • Located at 1515 Highway 246 South in Greenwood, S.C., the company will be upgrading several existing chemical production lines in early 2019 to increase capacity.

Posted January 4, 2019

Source: South Carolina Office of the Governor

CCL Industries Announces Bolt-on Acquisition For Avery

TORONTO — January 4, 2019 — CCL Industries Inc. announced today that it has acquired a direct-to-consumer online digital business for its Avery business.

Easy2Name Ltd. (“E2N”) is a privately owned company based near Newbury in the UK. Founded in 2000, E2N is a manufacturer of durable, personalized “kids’ labels” for the UK Market.

2018 sales amounted to approximately $2.0 million, with an estimated adjusted EBITDA of $0.6 million. The enterprise value, net of cash and debt, is approximately $2.5 million.

Geoffrey T. Martin, president and CEO of the company, commented, “This is the seventh bolt-on acquisition we have made since acquiring Avery in 2013 as we continue to build our rapidly growing portfolio of web-to-print technologies and brands using software and related supplies. The addition of E2N complements similar end-use propositions already present in our global portfolio of brands.”

Posted January 4, 2019

Source: CCL Industries Inc.

Hyosung Rewards Employees For Outstanding Results

SEOUL, South Korea — January 3, 2019 — Hyosung Chairman Cho Hyun-Joon marked the end of 2018 with an award ceremony for “the Proud Hyosung Person of the Year for 2018” at the headquarters of Hyosung in Mapo, Seoul. The annual award is given to an employee who made the most outstanding achievement of the year. Oh Dong-woo, a general manager of Renewable Energy Sales Team, Hyosung Heavy Industries, was selected as the Hyosung Person of the Year for contributing to the increase of ESS (Energy Storage System) orders. He received a plaque and 50 million won in prize money.

Chairman Cho Hyun-Joon recognized Oh’s contributions to Hyosung taking the largest share in domestic ESS market by finding market needs quickly and tackling the sector of ESS for solar power plant and peak shaving. Chairman Cho Hyun-Joon has consistently emphasized the importance of listening to the voice of customers. Oh propelled the increase in orders with a strategy to expand cooperative relations with a wide array of business clients including EPC contractors in the solar industry, investors in ESS, and battery suppliers. The ESS business division of Hyosung Heavy Industries estimates that its 2018 sales may have increased more than 500 percent from 2017.

“Thank you for producing excellent results with an extraordinary passion and spirit of challenge,” Chairman Cho Hyun-Joon said, congratulating award winners. “I ask all of the employees to keep listening to the voice of customers in 2019 to find what they want and what to do to raise customer value. I also ask you to innovate after placing customers at the center of your task.”

Posted January 4, 2019

Source: Hyosung Corp.

Callaway Golf Completes Acquisition Of Jack Wolfskin For 418 Million Euros

CARLSBAD, Calif.— January 4, 2019 — Callaway Golf Co. announced today that it has completed the previously announced acquisition of Jack Wolfskin for 418 million euros, or approximately $476 million assuming a 1.140 euro to U.S. Dollar conversion rate, subject to a working capital adjustment.

Jack Wolfskin is an international, premium outdoor apparel, footwear and equipment brand. The company designs premium products targeted at the active outdoor and urban outdoor customer categories. The acquisition furthers Callaway’s push into the active lifestyle category after its successful 2017 acquisitions of TravisMathew and Ogio. Post-acquisition, Jack Wolfskin will continue to operate out of its Idstein, Germany, headquarters.

“We are very excited to have completed this acquisition and have the Jack Wolfskin brand as part of the Callaway portfolio,” commented Chip Brewer, president and CEO of Callaway. “We believe Jack Wolfskin fits extremely well with our current brands and furthers our stated plan of strategic investments in complementary areas. Jack Wolfskin provides an innovative product offering with long-term synergies to the existing soft goods portfolio.  We look forward to partnering with the Jack Wolfskin management team to maximize this brand’s growth potential.”

“We are thrilled to be joining Callaway’s growing portfolio of premium, active lifestyle brands,” said Jack Wolfskin’s CEO Melody Harris-Jensbach. “The Callaway team has proven over many years that they are great innovators and brand builders. We are excited to have them invest in our brand and are eager to start working with them.”

Callaway financed the transaction with a $480 million Term Loan B facility, which was led by BofA Merrill Lynch and JP Morgan Securities LLC. The facility has a seven-year term, subject to certain prepayment rights, and bears interest at a rate of LIBOR plus 4.50%. The Term Loan B market weakened during the period the Company marketed the loan to investors and therefore the estimated annual financing costs will be approximately $0.05 per share higher than previously estimated. As a result, Callaway currently estimates that this transaction is expected to be approximately $0.11 per share dilutive for full year 2019 and slightly accretive in 2020, both on a non-GAAP basis, which excludes non-recurring transaction costs and non-cash purchase accounting adjustments. The Company intends to provide further guidance on a GAAP basis once it has completed its purchase accounting adjustments. Full year 2019 adjusted EBITDA, which excludes transaction costs and non-cash purchase accounting adjustments, is still estimated to be approximately $33 million for the Jack Wolfskin business. The Company remains excited about adding this premium brand to its portfolio and the strategic benefits and long-term potential this acquisition provides.

Latham & Watkins LLP acted as legal counsel to Callaway for the acquisition and Gibson Dunn & Crutcher acted as legal counsel to Callaway for the Term Loan B facility. JP Morgan Securities LLC acted as exclusive financial advisor to Callaway for the acquisition. Kirkland & Ellis International LLP acted as legal counsel and Houlihan Lokey as exclusive financial advisor to Outdoor Holdings SCA – the holding company of Jack Wolfskin. THM Partners acted as director of and advisor to the Jack Wolfskin Group.

Posted January 4, 2019

Source: Callaway Golf Company

LG Styler Heralds Future Of Total Clothing Care

ENGLEWOOD CLIFFS, N.J. — January 3, 2019 — LG Electronics (LG) is showcasing its vision for total clothing care with the revolutionary Styler system at CES® 2019 as part of the “LG Ultimate Laundry Room” featuring advanced clothes washers and dryers. Headlining the portfolio of laundry offerings will be the new LG Styler Black Tinted Mirror Glass Door, a CES 2019 Innovation Award winner. LG will also demonstrate captivating large capacity concept models for the future complete with smart features and a Smart Mirror with AI service for an entirely new virtual fashion experience.

Launching in the U.S. this year, the premium LG Styler with Black Tinted Mirror Glass Door brings functionality and elegance to the home with a refined, modern design and the ability to keep clothes hygienically clean and looking their very best. The new tinted black-glass door exudes sophistication while the unit effortlessly and conveniently refreshing up to four garments – including a pair of pants in the door – simultaneously. The inclusion of Smart Diagnosis™ and SmartThinQ™ offers users the benefit of fast, accurate support and the ability to tap into the Google Assistant with only one’s voice.

At the core of Styler is LG TrueSteam™ technology, which eliminates over 99.9 percent of the germs and bacteria found in clothing and is certified as asthma and allergy friendly® by the Asthma and Allergy Foundation of America (AAFA). Clothes placed on the moving hangers shake out wrinkles and unpleasant odors while the Gentle Dry cycle removes moisture quickly and thoroughly. Heat Pump Drying reduces energy consumption by recycling heat from the hot, moist air inside Styler, and Pants Crease Care creates a crisp crease-line without an iron.

Visitors to CES 2019 will be able to experience the new Styler as part of the “LG Ultimate Laundry Room,” which also includes LG washers and dryers, among the most awarded in the industry for their superiority in performance, reliability and customer satisfaction.

Designed for bigger families, the large capacity Styler model will also be on display. This concept model is an expanded version of the Styler Black Tinted Mirror Glass Door that can accommodate five garments on moving hangers (including full-length coats) as well as a pair of pants in the door. In addition to the Styler of tomorrow, LG is giving the public a look at the bedroom of the future with its Smart Mirror with AI virtual tailored service. This LG ThinQ mirror can deliver a customized experience with intelligent fashion suggestions and virtual fittings, enabling customers to purchase clothes without having to try them on in a store.

“With a sleek design and highly effective performance, the elegant black LG Styler takes in-home clothing care to the next level,” said Song Dae-hyun, president of LG Electronics Home Appliance & Air Solution Company. “We are enthusiastic about expanding Styler’s capabilities and appeal to new customers who are unaware that there is more to wardrobe management than washing with water and dry cleaning.”

Visitors to CES from January 8-11 are encouraged to stop by booth #11100 in the Las Vegas Convention Center to experience the full breadth of LG’s clothing care solutions.

Posted January 4, 2019

Source: LG Electronics USA

AMREX Properties Named Receiver To Sell SGRTEX Textile Mill in Eden, N.C

EDEN, N.C. — January 4, 2019 — AMREX Properties and Receivers of Greensboro, N.C., has been named the Court Appointed Receiver to liquidate and sell all assets of the 181,000-square-foot SGRTEX Textile Mill in Eden, N.C.

AMREX seeks a purchaser to reopen operations at the plant, which was renovated in 2014 and supplied with state-of-the-art machines to spin OE cotton yards. AMREX is maintaining the facility on 21.6 acres at 335 Summit Road so that it is ready for full production.

Located in an area with low energy costs, a plentiful cotton supply, a skilled work force and a business-friendly atmosphere, the facility is ideal for textile production.

The City of Eden and Rockingham County leaders are aggressively supporting industries with grants and incentives for job creation and new taxable capital improvements.

“Rockingham County is ready to be as proactive as we possibly can in order to help attract a new user to this facility,” Rockingham County Manager Lance Metzler said. “Ideally, we would like to see it remain a textile operation so that our community retains the state-of-the-art equipment. However, our Board of Commissioners would be willing to consider any project that would breathe new life into this building and create jobs.”

Posted January 4, 2019

Source: AMREX

Mimaki Announces Tessa Koops As Fashion Designer For Heimtextil 2019

AMSTERDAM — January 4, 2019 — Mimaki Europe, a leading manufacturer of inkjet printers and cutting systems, today announces its partnership with Dutch retail fashion designer, Tessa Koops, for Heimtextil 2019 (8-11 January 2019, Frankfurt, Germany – Stand J81, Hall 3.0). Completing its line-up of designer collaborations for the show, clothing specifically designed for Mimaki by Koops, will be used to demonstrate the power of art in fashion and the huge impact digital print can have on creativity and personalization within the fashion design and manufacturing process.

Koops joins a prestigious group of inspirational world-leading designers brought together by Mimaki for Heimtextil 2019. Under the theme of ‘The Fusion of Innovation and Design’ and celebrating digital print within all elements of art, interior design and fashion, Mimaki commissioned work from designers including Sigrid Calon and Claire Vos (Studio Roderick Vos), will also be showcased throughout the Mimaki booth.

Tessa Koops is a fashion designer of women’s clothing, specializing in dresses with floral/patterned prints. In addition to dressing different celebrities, her clothing is sold in more than 50 retail outlets across the Netherlands.

“Ordinarily, I work a lot with purchased prints for my clothing. However, this collaboration with Mimaki has enabled me to go beyond the typical design limitations of fashion and better understand how digital print can increase creativity, personalisation and diversification across a range of pieces. As you will see on the booth, one of my own paintings is used in a variety of ways including as a print for dresses,” comments Tessa Koops.

“I am very impressed and inspired by the possibilities that Mimaki printers offer the fashion industry. As a designer, you normally don’t get to experience such cutting-edge technology first hand, so this has been quite enlightening. In fact, exposure to the potential of digital print has enabled me to think in broader terms than just fashion design,” concludes Koops.

With printed applications on a diverse range of textiles, fabrics and interior materials, visitors to the Mimaki booth at Heimtextil 2019 will learn how they too can use advanced print technology to drive design innovation and profitability. Additional Mimaki designers include Anousjka Röben displaying shoes and creative studio Deux d’Amsterdam showing a unique kimono designed specifically for Mimaki – all designs were digitally printed by Textiles & More (T&M).

The Mimaki stand will showcase a printer for almost every type of textile application, with other digitally printed textiles applied to design classics in the ‘Pode’ range from Leolux, and feature walls utilizing photography from Arjan Benning also being displayed.

Posted January 4, 2019

Source: Mimaki

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