A Year Of Strong Growth For RadiciGroup With 2017 Sales Of 1.147 Million Euros

BERGAMO, Italy— July 3, 2018 — RadiciGroup 2017 sales significantly exceeded one billion euros: the Group — with more than 3,000 employees, companies in 16 countries and 33 sales and production units engaged in chemicals, plastics and synthetic fibers — recorded consolidated sales revenue of 1.147 million euros, a 20-percent increase over the prior financial year.

Group net income rose by over 60 percent compared to 2016, driven by an increase in sales volume, while group EBITDA was 160 million euros (+ 45%).

“Our competitive system operates with respect for people and the environment,” said Angelo Radici, president of RadiciGroup. “The financial statement figures show that our group is sound and in excellent financial condition, in spite of the high levels of uncertainty that characterize some of the widely diverse scenarios in which the group operates.”

RadiciGroup’s strategy continues to focus on its strategic core business activities — nylon chemicals, engineering plastics and synthetic fibers — with the goal of improving its competitive position in the market and achieving an overall balance among the geographical areas where the group operates in order to reduce dependency on single markets and boost cash flow to reduce debt and finance new initiatives in crucial markets.

“Our 2017 results are very positive and show higher group growth compared to 2016, which has strengthened our balance sheet,” stressed Alessandro Manzoni, CFO. “We are also very pleased with the results of the first half of 2018, which rose compared to the same period of 2017. However, in the second half of the year, we are in a more cautious position due to the new climate of political uncertainty, which, naturally, has an impact on markets, as well. The Group’s financial position is extremely solid.”

Moreover, in 2017 global net value added — i.e., the wealth created by a company to be distributed among stakeholders — recorded a further increase up to over EUR 258 million (EUR 206 million in 2016).

“Our Group is capable of creating wealth for all its stakeholders,” Angelo Radici continued, “but, at the same time, is also engaged in cutting back on the resources used to create such wealth. I believe this virtuous interplay has allowed our enterprise to grow in a truly sustainable way. “Additionally,” Radici concluded, “we continue investing to support the competitiveness of Group companies: towards this goal, during the last 5 years alone (2014-2018), we have invested 210 million euros, of which 50 million euros [was] during the current year.”

Going into more detail on the results of the individual business areas, sales revenue (in millions of euros) by business area (gross of intercompany sales among business areas) is as follows:

  • Specialty Chemicals, 439 million euros;
  • Performance Plastics, 360 million euros;
  • Synthetic Fibres and Nonwovens, 451 million euros; and
  • Other businesses, 10 million euros.

Specialty Chemicals

The results of the Specialty Chemicals Business Area showed a positive trend in sales compared to 2016 in terms of both volumes and average prices for the two main product areas: polymers and adipic acid. Sales revenue increased by 35% compared to 2016, aided by average sales prices, which followed the main raw materials cost trend, and, most importantly, by high market demand.

The economic trend of the business area during the first quarter of 2018 remained positive. Market demand was at the same level as the prior year; production sites were optimizing plant production capacity utilization and managing to improve on monthly average production against 2017. Sales revenue was on the increase compared to the same period of 2017, as was gross operating margin.

Performance Plastics

During financial year 2017, the Performance Plastics Business Area was forced to deal with changing conditions in the raw materials market. Raw materials prices increased considerably in all segments of the business area, although at different rates depending on the country, inevitably resulting in shrinking margins. At the same time, however, sales volume improved. Furthermore, bringing the Invista business up to full operations in October 2016 allowed the business area to achieve a sizeable increase in sales revenue (over +20%) and a gross operating margin in line with budget expectations.

In June 2017, a new production line was put into operation in Germany: the line was the result of a very significant investment made to meet the constant growth in sales volume in Europe. Another part of the plan to increase production capacity is the installation of two new production lines (one actually replacing an old line) scheduled for 2018 at the site in Villa d’Ogna (Bergamo, Italy).

During the first quarter 2018, RadiciGroup Performance Plastics showed higher growth compared to the same period of the prior year. Raw materials cost as a percentage of sales was still rising, but an increase in volume and containment of fixed costs allowed the business area to achieve higher income than in the prior financial year.

Synthetic Fibers and Nonwovens

The Synthetic Fibres and Nonwovens Business Area produces numerous kinds of products, from polyester yarn to nylon yarn, artificial grass yarn and nonwovens, materials used in a variety of industries, among which automotive, apparel and furnishings. The global sales revenue of this business area went from EUR 412 million in 2016 to EUR 451 million in 2017, an increase of over 9%.

The business area does not produce products classified as commodities – the exclusive realm of Asian producers – and, therefore, has comfortably positioned itself in niche markets (specialties). These markets are harder for its Eastern competitors to attack, precisely because of the type of items and services requested by customers, and provide the opportunity to match revenues with high European production costs.

The geographical breakdown of the 2017 sales of the various products of the Comfort Fibres business line — engaged in the production of nylon and polyester — shows the prevalence of the Italian and European markets over the rest of the world. These are complex markets, which require highly customizable high-performance products. In this context, 2017 sales revenue was greater overall than in 2016, and significant increases were recorded in both sales value and volume.

In 2017, the Performance Yarn Business Area — engaged in the manufacture, processing and sale of polyamide 6 and 6.6 yarn used mostly for textile flooring — confirmed its leadership position in the automotive sector thanks to polyamide 6 solution-dyed yarn used for vehicle floor carpeting in the premium and SUV segments.

The high-tenacity polyamide 6.6 yarn sector was still another market that benefited from this favorable period in the automotive industry.

As regards BCF yarn for household and commercial textile flooring, 2017 sales were in line with forecasts and stable compared to 2016. In these markets, interest in solution-dyed colored yarn was also on the rise.

Regarding the Extrusion Yarn Business Area, in financial year 2017, Tessiture Pietro Radici reported gross sales revenue basically consistent with the prior financial year.

As for nonwovens, in 2018 a new bicomponent production line was installed, which will allow for delivering specialty products for construction, automotive, agriculture and furnishing applications.

Posted July 4, 2018

Source: RADICIGROUP

United Health Products Files IDE Pre-Submission With The FDA For Approval To Begin Human Trials Of HemoStyp®

HENDERSON, Nev. — June 19, 2018 — United Health Products Inc. (UHP), manufacturer and marketer of HemoStyp, a patented hemostatic gauze for the healthcare and wound care sectors, today announced that after successfully completing a series of animal tests, it has filed an IDE pre-submission application with the Food and Drug Administration (FDA) to begin human trials of HemoStyp. The filing was made in conjunction with a previously filed Class III PMA submission application for HemoStyp for general surgical use in abdominal, cardiovascular and thoracic procedures to control bleeding sites.

An Investigational Device Exemption (IDE) allows an investigational device (i.e., a device that is the subject of a clinical study) to be used in order to collect safety and effectiveness data required to support a premarket approval (PMA). All statistical power calculations have been completed, and procedural protocols have been vetted for this submission. UHP expects to confer imminently with the FDA to confirm receipt of the Protocol, and to begin testing upon approval.

United Health Products develops, manufactures, and markets patented hemostatic gauze for the healthcare and wound care sectors. The product, HemoStyp, is derived from regenerated oxidized cellulose, which is all natural, and designed to absorb exudate/drainage from superficial wounds and helps control bleeding. UHP is focused on identifying new markets and applications for its products, and expanding its current markets.

Posted July 3, 2018

Source: United Health Products

PMI® at 60.2; June Manufacturing ISM® Report On Business®; Textile Mills Lead Manufacturing Industries Growth

TEMPE, Ariz. — July 2, 2018 — Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 110th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., chair of the Institute for Supply Management® (ISM®) Manufacturing Business Survey Committee: “The June PMI® registered 60.2 percent, an increase of 1.5 percentage points from the May reading of 58.7 percent. The New Orders Index registered 63.5 percent, a decrease of 0.2 percentage point from the May reading of 63.7 percent. The Production Index registered 62.3 percent, a 0.8 percentage point increase compared to the May reading of 61.5 percent. The Employment Index registered 56 percent, a decrease of 0.3 percentage point from the May reading of 56.3 percent. The Supplier Deliveries Index registered 68.2 percent, a 6.2 percentage point increase from the May reading of 62 percent. The Inventories Index registered 50.8 percent, an increase of 0.6 percentage point from the May reading of 50.2 percent. The Prices Index registered 76.8 percent in June, a 2.7 percentage point decrease from the May reading of 79.5 percent, indicating higher raw materials prices for the 28th consecutive month.

“Comments from the panel reflect continued expanding business strength. Demand remains strong, with the New Orders Index at 60 percent or above for the 14th straight month, and the Customers’ Inventories Index remaining low. The Backlog of Orders Index continued to expand, reading at 60 percent of higher for the third consecutive month. Consumption, described as production and employment, continues to expand in spite of labor, skill and material shortages. Inputs, expressed as supplier deliveries, inventories and imports, had expansion increases, due primarily to negative supply chain issues. Lead-time extensions, steel and aluminum disruptions, supplier labor issues, and transportation difficulties continue. Export orders expanded at higher rates. Price pressure remains strong, but the index saw its first expansion softening since November 2017. Demand remains robust, but the nation’s employment resources and supply chains continue to struggle. Respondents are overwhelmingly concerned about how tariff related activity is and will continue to affect their business,” said Fiore.

Of the 18 manufacturing industries, 17 reported growth in June, in the following order: Textile Mills; Wood Products; Nonmetallic Mineral Products; Printing & Related Support Activities; Electrical Equipment, Appliances & Components; Fabricated Metal Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Paper Products; Transportation Equipment; Furniture & Related Products; Machinery; Primary Metals; Miscellaneous Manufacturing; Chemical Products; Petroleum & Coal Products; and Plastics & Rubber Products. No industry reported a decrease in June compared to May.

Posted July 3, 2018

Source: Institute for Supply Management

Shineco Announces Official Establishment Of Apocynum Industrial Integration Construction Project In Bayingolin Mongol Autonomous Prefecture

BEIJING — July 2, 2018 — Shineco Inc., a manufacturer and distributor of Chinese herbal medicines, organic agricultural products, specialized textiles, and other health and well-being focused plant-based products in China, announced today the official establishment of its Apocynum Industrial Integration Construction Project in Bayingolin Mongol Autonomous Prefecture. The Project is operated by the company’s joint venture company, Xinjiang Shineco Taihe Agriculture Technology Ltd. and has secured local government approval.

Apocynum is unique among Chinese herbal medicine as it can be used in textiles. The scientific and technological innovations in apocynum planting are expected to improve the ecological impact of cultivation and facilitate the effective protection and sustainable development of apocynum raw materials. These advances are of great significance for improving the vegetation coverage rate of the Tarim River and conserving soil and water. The government of Bazhou stated that the implementation of this project is conducive to improving the ecological environment in parts of Bazhou, increasing employment, and increasing farmers’ income and wealth, with major ecological, economic and social benefits.

The company plans to build 280 greenhouse nursery bases, five modern farms, five mechanical peeling hemp factories, five environmental protection building materials factories, and five theme villages over three years. The company will carry out overall regional planning, and will advance the Project in stages on the basis of scientific agricultural management.

The Project aims to implement the goals of the “National Strategic Plan for Rural Vitalization” in the “19th National Congress” to boost rural incomes and living standards in an effort to combat unbalanced economic development in China. The Project was created to align with the development trends of agriculture in Xinjiang and the demands of the PRC market. Through the establishment of a standardized production demonstration base for apocynum, the improvement of product market competitiveness and comprehensive benefits, and the adjustment and optimization of regional agricultural structure, the Project aims to strengthen the local rural economy and promote the industrialization and commercialization of apocynum projects.

Yuying Zhang, chairman and CEO, Shineco, stated: “We utilize the unique local resources in Bazhou to expand and strengthen the globally unique apocynum industrial chain, which we expect to play an important role in promoting the development of the regional economy, alleviate poverty, and improve standards of living for local farmers and herdsmen. In addition, the construction of the apocynum planting area may positively impact the Bazhou local climate and protect the natural ecological environment for the benefit of future generations.”

Zhang continued: “When the project is completed, we expect to achieve annual output goals for apocynum fabric, apocynum tea, building materials and apocynum honey of 300,000 tons, 20,000 tons, 300,000 cubic meters and 100,000 kilograms respectively. We also expect to attract 100,000 tourists per annum. We estimate that total revenue may reach RMB 12.5 billion with an investment return rate projected at as high as 135.6%.”

Posted July 3, 2018

Source: Shineco

Gore Announces First Commercial In-Human Use Of GORE® TAG® Conformable Thoracic Stent Graft With ACTIVE CONTROL System For TEVAR In Australia

FLAGSTAFF, Ariz. — July 2, 2018 — W. L. Gore & Associates Inc. (Gore) today announced the first patient implant of the GORE® TAG® Conformable Thoracic Stent Graft with ACTIVE CONTROL System after being included on the Australian Register of Therapeutic Goods last month in Australia.

The first implants were performed by Professor Ian Spark at Flinders Medical Centre, Adelaide, South Australia.

The thoracic endovascular aortic repair (TEVAR) device is the first to feature a new delivery system that provides the physician with controlled, staged deployment. The system optimizes accuracy, angulation, and apposition to treat etiologies of the descending thoracic aorta including aneurysms, transections, and acute and chronic Type B dissections.

The GORE Active Control System enhances the exceptional conformability of the stent graft; facilitating the optimized wall apposition that the Conformable GORE Tag Device is renowned for even in complex anatomies, such as acute aortic angles. The novel staged deployment feature enables the physician to refine positioning and angulate the stent graft within the body to achieve optimal placement prior to full-diameter expansion. The angulation control capability gives physicians the option to angulate the device to achieve orthogonal placement to the aortic blood flow lumen and maximize conformability and seal. These features enable physicians to more confidently perform endovascular treatment even in anatomies where tortuous vessels might historically have suggested open surgery.

“The Gore Tag Conformable Stent Graft is a reliable and trusted device that I have used for TEVAR procedures with my patients for many years,” Professor Spark comments. “The availability of the new Gore Active Control System is an exciting advancement because it significantly enhances the control I have when deploying the stent graft, making it easier to accommodate challenging anatomies. The angulation and precision deployment capabilities could decrease the risk of common complications and reduce the likelihood for future interventions that result in additional trauma for patients and costs to providers. Both the control in the delivery system and long-term benefits of the stent graft mark significant advancement for the medical community.”

The new product offering features the same time-tested stent graft as the Conformable Gore Tag Device, whose predictable outcomes have been established through its long-term freedom from reintervention (89 percent for aneurysms in the descending thoracic aorta* and 100 percent for traumatic transections**) through five years, and 90 percent dissection-related survival through 1 year***. The device is a unique combination of proprietary ePTFE graft material and a fully supported, nested, nitinol stent.

“Since Gore pioneered the first Tevar device in Europe two decades ago, we have welcomed feedback from our physician partners to innovate and evolve our stent graft offerings for better long-term patient care,” said Eric Zacharias, vascular business leader at Gore. “The Gore Tag Device family has a legacy of trusted performance and durability, and we knew we could build on that by enhancing control during deployment which would help make Tevar procedures more predictable for physicians. Physicians can now deploy our thoracic stent graft in the descending thoracic aorta with more operative ease, even in those patients with extremely angulated aortic arches, and meet the clinical and practical challenges of Tevar with confidence. With this latest product iteration, Gore is continuing its unparalleled commitment to developing solutions that advance endovascular solutions for diseases of the aorta.”

The Gore Tag Conformable Stent Graft with Active Control System is part of the growing family of endovascular products that share a mission to effectively treat aortic disease, backed by Gore’s highly rated clinical support team and educational offerings. The comprehensive portfolio of products includes the Gore EXCLUDER® AAA Endoprosthesis for the treatment of abdominal aortic aneurysms (AAA), as well as the Gore Excluder Iliac Branch Endoprosthesis (IBE), the first FDA approved off-the-shelf device indicated for the endovascular treatment of common iliac artery aneurysms or aortoiliac aneurysms. For potential additions to Gore’s branched portfolio, studies are ongoing for the Gore Excluder Thoracoabdominal Branch Endoprosthesis (TAMBE), and enrollment continues in the Gore Tag Thoracic Branch Endoprosthesis (TBE) Pivotal Study to assess safety and effectiveness in treating lesions of the aortic arch and descending thoracic aorta.

* TAG08-03 Clinical trial for treatment of aneurysms of the descending thoracic aorta

** TAG08-02 Clinical trial for Traumatic Transections

*** TAG08-01 Clinical trial for Acute Complicated Type B Dissection Clinical Trial

Posted July 3, 2018

Source: W. L. Gore & Associates

Kraig Biocraft Laboratories Management Travels to Vietnam To Oversee The Opening Of Its Spider Silk Production Subsidiary, Prodigy Textiles

ANN ARBOR, Mich. — July 3, 2018 — Kraig Biocraft Laboratories Inc., a developer of spider silk-based fibers, announced today that Jon Rice, the company’s COO, is in Vietnam this week reviewing the new facility, interviewing potential hires, and meeting with local officials, as the next phase in launching operations at its newly formed production subsidiary, Prodigy Textiles Co. Ltd.

This trip marks the first time that company management will be on the ground in Vietnam, since receiving its investment and enterprise registration certificates, the essential business licenses the company had worked diligently to secure. Rice will remain in Vietnam through the end of the week, ensuring that the factory is on track to receive its first delivery of its proprietary hybrid silkworms.

“I am excited to see the new facility first hand and to review the progress getting the building ready to receive our hybrid silkworms,” said Rice. “Our consultants on the ground have been doing an excellent job of keeping this project moving forward. This will be a busy week of meetings, as we coordinate with contractors, officials, and potential new employees, as we work to get Prodigy Textiles up and running.”

The company’s research team continues to prepare silkworm’s eggs for shipment, from its Michigan based R&D headquarters, and remains on track to ship materials, as soon as the new facility in Vietnam is ready.

Posted July 3, 2018

Source: Kraig Biocraft Laboratories

KARL MAYER Showcases Widest High-Performance Tricot Machine To Chinese Delegation

OBERTSHAUSEN, Germany — July 3, 2018 — On July 2, 2018, KARL MAYER, manufacturer of warp knitting and warp preparation machines, welcomed a 14-member delegation from China’s warp knitting stronghold Haining, Zhejiang province, with the world’s widest high-performance tricot machine.

The record HKS 3-M has a working width of 280 inches. Compared to the previously available standards, the width expansion makes it possible to produce webs of different widths with a higher number of webs. This performance impressed the visitors.

The delegation consisted of heads of the Haining Economic and Information Technology Bureau and managing directors of companies in the textile industry and other sectors.

Posted July 3, 2018

Source: Karl Mayer

Sensient Inks Adds Local Distribution Capability In Turkey

MORGES, Switzerland — June 2018 — Sensient Imaging Technologies, a developer and manufacturer of digital inks for textiles and other applications, is proud to announce the addition of local warehousing and distribution to better serve the growing Turkish textile market.

As a result of this investment in local distribution, Sensient will now house a direct supply of Sensient digital inks in Turkey. This investment will provide new and existing customers direct access to Sensient inks, removing delays in the importation process and simplifying the local supply chain.

Digital printing in the Turkish textile industry has been rapidly increasing over recent years and has a forecasted annual average growth rate of 12.5%. “This market development combined with a strong support network in Turkey and the release of new digital inks in 2018 has resulted in significant growth for Sensient in the region,” commented Mike Geraghty, President of Sensient Colors. “As a result, Sensient is reaffirming its commitment to support our partners and customers in Turkey by investing in local warehousing of inks.”

Initially, Sensient will stock selected products to serve the growing installed base with plans to increase both the volume and the product range when necessary. Sensient will continue to work with its partners in the region to maintain the highest level of service, support, and flexibility for its growing customer base.

Posted July 3, 2018

Source: Sensient Imaging Technologies

Archroma Sign Partnership With Carlin To Promote Color Inspiration Tools In France

REINACH, Switzerland — July 3, 2018 — Archroma recently entered in a partnership with Carlin, the world’s very first trend forecasting agency founded in 1947, aiming to promote the use of Archroma’s exclusive color inspiration tools to fashion designers and stylists in France.

Under the terms of the new partnership, Carlin will use the ‘Color Atlas by Archroma®’ color references in the Carlin’s 16 publications per year, including the InMouv trend books. Carlin will also use the Color Atlas during its color workshops, and Carlin and Archroma will organize regular conferences and events for fashion brands in major French cities, including Paris.

The partnership agreement also appoints Carlin as Archroma’s sales agent for its color management products in France, including the Color Atlas by Archroma® color library and related tools. Archroma’s color management services will continue to be sold through the existing channels.

The Color Atlas by Archroma® uses complementary tools to enhance creative possibilities for designers and brands. It incorporates the six-volume ‘Color Atlas’ Library, with more than 4,300 colors on cotton poplin; the two-volume ‘Color Atlas Compact’ for improved portability; and the ‘Color Atlas Online’ which enables you to take an image with your smartphone and identify the closest Color Atlas shades.

“Just like designers, brands, retailers, manufacturers and Carlin, we are passionate about color trends,” explained Chris Hipps, global director of Archroma Color Management Services. “We redefined the concept of a color library for the textile industry with our Color Atlas, an essential and inspirational reference that gives creatives options that they had never dreamed of. With our new partnership with Carlin we’ll be able to share our Color Atlas and our passion for color with a new audience.”

“Carlin is at the forefront of trend forecasting,” explained Edouard Keller, head of International Sales, Carlin. “And that includes the use of color. Archroma offers a suite of services and tools that are both practical and instantly available for our clients; this is what makes their solution so attractive to us. Our partnership with Archroma will empower us to share the advanced Color Atlas and associated tools with creatives throughout France, helping them to unlock their creativity with color.”

Posted July 3, 2018

Source: Archroma

Under Armour Strengthens Regional Structure With New Executive Management Appointments And Asia Pacific Headquarters In Hong Kong

BALTIMORE — July 2, 2018 — Under Armour Inc. today announced the appointments of Jason Archer as managing director, Asia Pacific; Manuel Ovalle as managing director, Latin America; and Massimo Baratto as managing director, Europe, Middle East & Africa. Additionally, the company announced that its Hong Kong office will be expanded to serve as its Asia Pacific (APAC) headquarters.

“Today’s actions support our commitment to becoming a more operationally excellent company capable of supporting the global potential of the Under Armour brand,” said Under Armour president and chief operating officer Patrik Frisk. “As we work to scale our international business, we remain focused and measured in our evolution across our entire portfolio to ensure that we are driving toward long-term return for our shareholders.”

Jason Archer – Managing Director, Asia Pacific

Archer has been named managing director, APAC with direct oversight of the company’s operations in Australia, China, India, Japan and South Korea, among others. In Archer’s six-year tenure at Under Armour, he significantly transformed the company’s international financial and operating structure under Charlie Maurath, its former chief revenue officer who retired in March. In 2016, he became vice president and managing director, with primary oversight of the company’s Latin American business. Prior to Under Armour he spent 11 years with adidas in Latin America and six years with PwC on assignments in Canada and Europe.

Erick Haskell, who joined Under Armour in 2015 as managing director, Greater China plans to leave the company later this month to pursue a new opportunity. Frisk added, “We are grateful for Erick’s leadership and the strong foundation he set over the past few years, which has positioned us for strong, balanced growth as we enter our next chapter in this important region.”

Manuel Ovalle – Managing Director, Latin America

Ovalle, who joined Under Armour in 2013, has played a critical role in driving the company’s strong performance in the Southern Cone of Latin America. Now as managing director, Latin America, he will be based in Panama and be responsible for the company’s entire Latin America business from Mexico through the Southern Cone. Prior to Under Armour, Ovalle spent nearly 20 years with adidas with roles of increasing responsibility as the company grew its Latin American business.

Massimo Baratto – Managing Director, Europe, Middle East & Africa

Massimo Baratto, who joined Under Armour in May, will now oversee the entire Europe, Middle East and Africa (EMEA) region. Based in Amsterdam, Baratto brings nearly 30 years of international experience from a variety of industries, brands and regions – most recently as the CEO of the Oberalp Group.

Jason LaRose – President, North America

Since 2016, LaRose has led the company’s largest regional business comprising the United States and Canada. He joined Under Armour in 2013 to head up the global e-Commerce business and became senior vice president of digital revenue in 2015. Prior to Under Armour, LaRose held senior leadership positions with Express, Sears Holding Corporation and McKinsey & Co.

All four regional leads report directly to Under Armour president and COO Patrik Frisk.

Posted July 2, 2018

Source: Under Armour Inc.

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