Indorama Ventures To Acquire PET Business In Brazil

BANGKOK, Thailand — March 16, 2018 — Indorama Ventures Public Co. Ltd. (IVL), a global chemical producer, has announced that it has entered into an agreement to acquire M&G Polimeros Brazil S.A. in Ipojuca Brazil. The plant is the largest PET facility in Brazil, with capacity of 550,000 metric tons per year. This plant is strategically located and benefits from virtual integration with a manufacturer of Purified Terephthalic Acid (PTA), a key feedstock to PET.

The transaction is expected to be completed in second quarter 2018, subject to regulatory approvals.

This acquisition in Brazil is in line with the Company’s strategy to further extend its market position, and expand its global footprint in key markets with high growth potential. This strategic position allows Indorama Ventures to deliver products to key customers in Brazil and elsewhere in a cost-effective and efficient manner. Indorama Ventures is well positioned to service its current global client base and M&G’s existing customers once this acquisition is complete and the plant is fully operational. The Company expects immediate incremental revenues and cost synergies, driven by a substantial volume increase and potential value add through backward integration.

South America is an important emerging market with domestic demand for PET growing at around 5 percent. Today’s per capita consumption of PET is comparatively low at 2.8 kilograms and has great potential for growth. Brazil also has strong underlying fundamentals, supported by government policies to stimulate economic growth and strengthen the domestic market.

Indorama Ventures continues to be on a transformational journey aimed at accretive growth and sustainable value creation, while maintaining financial discipline. In its latest financial disclosure of February 20, 2018, the Company announced its record EBITDA of $1 billion for 2017 which was a growth of 30 percent on a year-on-year basis. Significant improvement in the PET and feedstocks business environment also enabled its net profit to grow by 68 percent on a year-on-year basis. This is a testament to a well-developed strategy and carefully selected acquisitions backed by a prudent mix of products and geographies, which ensure the sustainability of the company. This acquisition will significantly advance IVL’s strategy in its Necessities business, where the company aims to deepen its global footprint and build scale in key markets.

Commenting on the acquisition, Aloke Lohia, Group CEO, Indorama Ventures, said: “We are pleased to have reached this agreement, and taken significant action to strengthen our capability for profitable growth. Indorama Ventures now has unrivalled scale and global reach, being present in five continents with a uniquely balanced and integrated business model.”

“This is an exciting move for us, reflecting our continued commitment to support our customers using our global scale and local presence. We look forward to capitalizing on this new market and opportunities for cross-selling to immediately deliver greater value to existing and new customers, while delivering profitable growth and enhanced shareholder value.”

HSBC is serving as financial advisor, KPMG is serving as Finance and Tax due diligence advisors, and Mattos Filho & Lowenstein Sandler is serving as Legal advisors.

Posted March 16, 2018

Source: Indorama Ventures

EURATEX — New Strategic Course And Leadership Team

BRUSSELS — March 16, 2018 — EURATEX is pleased to announce the launch of a new strategic course to strengthen the voice of the European textile and apparel industry with the European policy institutions in Brussels as well as governmental bodies and partner organizations around the globe.

Over the last 10 years the EU Textile & Clothing industry, representing an annual turnover of over 171 billion euros, some 178,000 companies and 1.7 million workers, has been able to modernize and reinvent itself into a forward-looking, innovative and export-oriented sector.

To better reflect its members’ objectives and priorities which in addition to trade and industry policies encompass policy areas such as sustainability, innovation and skills, the Board of Directors of EURATEX has decided to undertake a comprehensive strategy review.

This process will be concluded at end of 2018 and will be led by three newly appointed Policy Directors Isabelle Weiler, Trade and Industry; Lutz Walter, Innovation and Skills; and Mauro Scalia, Sustainable Businesses).

At the same time the Board of Directors of Euratex and its long-serving Director General Francesco Marchi have decided in mutual agreement to end the collaboration.

Klaus Huneke, president of EURATEX stated “Our industry has undergone a dramatic transformation and the priorities of our companies are broader and their visions more far-reaching than ever. Our representative organization in Brussels is crucial to safeguard the interests of our industry and to engage with EU policy makers and other key stakeholders in new ways. I have full confidence in our broadened leadership team and its reinforced staff in the Brussels office to deliver on our ambitious program. I would like to thank Francesco Marchi for the professionalism and dedication with which he served the organization in over two decades. We wish him all the best for his personal and professional future.”

Posted March 16, 2018

Source: EURATEX

Sensient® ElvaJet Opal SC Awarded ECO PASSPORT By OEKO-TEX®

MORGES, Switzerland — February 2018 — Sensient Imaging Technologies, a division of Sensient Technologies Corporation, announced today the certification by OEKO-TEX® of the newly released ElvaJet Opal SC inks for the ECO PASSPORT by OEKO-TEX®.

Sensient has long been considered a leader in both developing first class digital sublimation inks and as a pioneer of eco-friendly and sustainable technologies. “With the latest sublimation technology, ElvaJet Opal SC achieving the ECO PASSPORT by OEKO-TEX® certification, Sensient re-affirms a longstanding commitment to developing sustainable products. The ECO PASSPORT allows our customers to confirm compliance with sustainable textile manufacture.” comments Mike Geraghty, President of Sensient’s Colors Group.

“ElvaJet® Opal SC is the first digital sublimation ink designed for industrial printers using Kyocera heads to achieve the ECO PASSPORT,” says Dr Simon Daplyn, Marketing Manager for Sensient’s Inks business, “clearly this is quite an achievement and underlines our core innovation strategy to deliver eco-friendly products that offer a real value for our partners”.

With ECO PASSPORT status, ElvaJet Opal SC is also considered compliant with the Zero Discharge of Hazardous Chemicals (ZDHC) Programme, which accepts the OEKO-TEX® as indication of conformance with the organization’s Manufacturing Restricted Substances List (MRSL) in connection with the ZDHC Gateway– Chemical Module.

Posted March 16, 2018

Source: OEKO-TEX®, The International Association for Research and Testing in the Field of Textile and Leather Ecology

Bullet Proof Vest False Claims Act Case Ends In Victory For Whistleblower

WASHINGTON, D.C. — March 15, 2018 — The U.S. Department of Justice announced today that Japanese manufacturing company, Toyobo Co., Ltd., agreed to pay $66 million to settle allegations that it conspired to sell defective body armor to American police departments, federal law enforcement agencies and the U.S. military.  The settlement was reached as part of a False Claims Act initiated by a whistleblower, Aaron Westrick, Ph.D.

As required under the False Claims Act, Dr. Westrick will obtain a qui tam whistleblower reward of $5.77 million.  This award is designed to compensate Dr. Westrick for the damages he suffered and to incentivize other whistleblowers with evidence of fraud to report these crimes.

A detailed discussion on the national importance of this case is posted on The Whistleblower Blog.

Dr. Westrick, now employed as a tenured professor at Lake Superior State University in Sault Ste. Marie, Michigan and an active Michigan Deputy Sherriff, issued the following statement:

“I only wanted to stop the sale of unsafe Zylon vests to police officers, federal agents, and members of our Armed Services. I tried to convince my company to stop selling these vests.  They refused. I lost my job and career.  I have no regrets. I would blow the whistle again. The defective Zylon product was taken off the market and Toyobo (along with other companies) were held accountable.

“I am proud that the United States joined in my False Claims Act case, and aggressively sought justice in this matter.”

In a statement released today by the DOJ, Attorney General Jeff Sessions said:

“Bulletproof vests are sometimes what stands between a police officer and death. Selling material for these vests that one knows to be defective is dishonest, and risks the lives of the men and women who serve to protect us. The Department of Justice is committed to the protection of our law enforcement officers, and today’s resolution sends another clear message that we will not tolerate those who put our first responders in harm’s way.”

Stephen M. Kohn, a partner in the law firm of Kohn, Kohn and Colapinto – who served as Dr. Westrick’s lead counsel said:

“Dr. Westrick is a true American hero. He lost his job and career in the body armor industry by exposing Zylon safety risks. He provided the crucial documents and testimony justifying the removal of Zylon from the market, and compensation to states and the federal government due to the immoral sale of Zylon vests.

“The False Claims Act is America’s most important tool to fight fraud in government contracting.  It was enacted to protect and reward whistleblowers like Dr. Westrick, who sacrifice for the public interest, save taxpayers millions of dollars, and ensure that products sold to front-line responders are safe.”

Mr. Kohn also serves as the pro bono Executive Director of the National Whistleblower Center.

Posted March 15, 2018

Source: Kohn, Kohn & Colapinto, LLP

Tommy Hilfiger Announces Formula One World Champion Lewis Hamilton as Global Brand Ambassador for TOMMY HILFIGER Men’s

AMSTERDAM — March 15, 2018 — Tommy Hilfiger, which is owned by PVH Corp., announces that British Formula One racing driver and four-time Formula One® World Champion Lewis Hamilton will appear as the new global brand ambassador for TOMMY HILFIGER men’s, including HILFIGER COLLECTION, TOMMY HILFIGER TAILORED and TOMMY HILFIGER Menswear, Underwear and Swimwear, starting Spring 2018. The partnership reflects Tommy Hilfiger’s strategic commitment to build on its strong menswear heritage and further drive the global growth of its men’s business, bringing the next generation of fans to the brand.

“I have always admired Lewis’ incredible endurance during the race, as well as his unique style off the track, which speak to the new generation of Tommy Guys,” said Tommy Hilfiger. “He has built his incredible career as a racing driver with passion, dedication and extremely hard work – values that I embraced when founding my brand. We have a history with Formula One, and this partnership builds on our heritage of collaborations within the world of motor sport.”

Lewis Hamilton’s career achievements have put him in an elite group of global athletes, and he is regarded as one of the greatest Formula One drivers in history. He holds the record for all-time most pole positions, career points and most wins at different circuits. He has won at least one Grand Prix in every season he has competed in. Lewis Hamilton connects with more than 17 million fans through the incredible reach of his social media channels, offering his audience a unique behind-the-scenes glimpse into the Formula One racing world and his personal life.

“I believe in the power of fashion and innovation to celebrate individuality and break conventions, like Tommy Hilfiger,” said Lewis Hamilton. “Tommy’s designs inspire me to be bold in every outfit that I put together outside of the racing track, expressing my creativity and eclectic style with confidence. His groundbreaking TOMMYNOW experiential events are one-of-a-kind, and I’m very excited to partner with such visionary brand.”

The integrated men’s campaign was photographed by Mikael Jansson at the Pocono Raceway, also known as the Tricky Triangle, in Pennsylvania, U.S. and will break globally in Spring 2018. It features exclusive video teasers, print, online, and out of home media placements, and will be supported by unique consumer activations that continue to bring the brand’s unique perspective on pop culture to life around the world. The TOMMY HILFIGER men’s campaign will run alongside the brand’s dedicated women’s advertising, featuring global womenswear brand ambassador and international supermodel Gigi Hadid. The campaigns fused when Lewis Hamilton and Gigi Hadid took the wheel of a Mercedes-AMG GT S car at the Pocono Raceway, and recorded their first drive together around the track in a dash cam shot video, directed by Matt Baron, that shows their reactions to the other’s driving skills.

The Spring 2018 TOMMY HILFIGER men’s offering celebrates Tommy Hilfiger’s love of motor sports, where speed and immediacy fuse with a touch of vintage nostalgia. The collection, which premiered at TOMMYNOW “DRIVE” during Milan Fashion Week on February 25th, gives nod to the Formula One racing pit crew, with heritage work wear and a strong focus on denim. Street styles are born from the iconic shapes, bold colors and streamlined graphics of speed racers. Looking at the traditional American automobile culture, clothing is reinvented for a collection that fulfills the needs of today’s fast-paced lifestyle.

The brand heritage of TOMMY HILFIGER is closely linked with pop culture and sports icons. In the ‘90s, Hilfiger was one of the first designers to blend fashion and celebrity, and he became a pioneer in the industry by dressing young artists such as Aaliyah, Mark Ronson and Usher; and featuring musicians such David Bowie and Beyoncé in his advertising campaigns. In recent years, Tommy Hilfiger has established inspiring partnerships with international tennis champion Rafael Nadal, international supermodel Gigi Hadid, and award-winning musician/producer duo The Chainsmokers, reflecting the brand’s commitment to broaden its reach and connect with the next generation of consumers. Tommy Hilfiger also has a history with Formula One, most recently announcing a multi-year strategic partnership as the Official Apparel Partner for the four-time World Champions Mercedes-AMG Petronas Motorsport. The brand previously sponsored the Lotus Formula One team from 1991 to 1994, and was the first non-automotive brand to sponsor Ferrari’s Formula One team, including uniforms created by the designer himself, in 1998.

Posted March 15, 2018

Source: Tommy Hilfiger

Dick’s Sporting Goods Relaunches Iconic Tommy Armour Golf Brand With Renewed Focus On Innovation

PITTSBURGH — March 15, 2018 — DICK’S Sporting Goods (NYSE: DKS), the largest U.S.-based, full-line omni-channel sporting goods retailer, announced today the relaunch of the iconic Tommy Armour golf brand, with a renewed focus on innovative golf club technology that promotes both forgiveness and distance. Men’s, women’s and senior drivers, fairway woods, hybrids, irons, wedges and putters are all included in the new offering. Tommy Armour will be available online and in-stores exclusively at DICK’S and Golf Galaxy starting March 18.

DICK’S partnered with Designworks, a subsidiary of BMW Group, to develop a premium set of game improvement woods and irons for mid-to-high-handicap golfers that are offered at a lower price point than comparable products. One standout innovation is the TA1 Driver, featuring a DAT 55G titanium face, which is a high tensile strength material that provides longer distance and more forgiveness and is not widely available in the US market.

“We set out to honor the history of the Tommy Armour brand and build a product that golfers at any level would want to use,” said Scott Hudler, Senior Vice President & Chief Marketing Officer, DICK’S Sporting Goods. “From the early feedback we’ve received, these clubs are ones that you’re just going to have to try to really experience the difference they deliver in both distance and feel. We think this brand will be a game-changer for any player looking to improve their game.”

Named after World Hall of Fame golfer and instructor, Thomas Dickenson Armour, the return of the brand is nostalgic for players of any generation. First launched in the 1970s, Tommy Armour achieved significant recognition in the 1980s with the introduction of its 845s line of irons – selling more than 600,000 sets.

“Participating in the re-launch of an iconic brand is an exciting and inspiring opportunity,” said Laura Robins, Director at Designworks LA Studio. “Drawing on our experience working across a number of industries on a wide range of performance-based products enabled us to deliver unique design and technology insights for the new Tommy Armour clubs, resulting in a product which provides golfers with a truly premium experience.”

With the addition of Tommy Armour, DICK’S continues to focus on the expansion of its in-house private label brands like CALIA by Carrie Underwood, Field & Stream, Top Flite, Maxfli, Walter Hagen and many others.

Posted March 15, 2018

Source: DICK’S Sporting Goods, Inc.

Sears Expands Exclusive Apparel Lines With Celebrity Brand Icon Jaclyn Smith

HOFFMAN ESTATES, Ill. — March 15, 2018 — Sears has strengthened its appeal as a fashion destination for the modern, sophisticated woman with the introduction of the Jaclyn Smith Ready to Wear collection from celebrity branding pioneer Jaclyn Smith. The collection – inspired by Smith’s everyday life with all women in mind, and perennially popular for decades at sister retailer Kmart – is available now with top items in select Sears nationwide and the full assortment at Sears.com/Jaclyn.

Smith was one of the first celebrities to develop a fashion brand, launching her Kmart collaboration and clothing line more than 33 years ago. Ever since, more than 100 million women have purchased clothing or accessories bearing the Jaclyn Smith name. Awareness of the Jaclyn Smith brand for women 35-60 years old is above 80 percent, making it one of America’s most recognized brands.

“It’s a privilege to work with a hands-on business partner like Jaclyn Smith, whose savviness and ability to anticipate women’s fashion trends for so long in the constantly evolving fashion world is remarkable,” said Greg Ladley, president of apparel and footwear at Sears Holdings. “More than five million Shop Your Way members have purchased Jaclyn Smith collection products in Kmart over the last 12 months alone, so we look forward to building Jaclyn’s current brands and extending her powerful reach and brand loyalty across to the Sears community.”

The Jaclyn Smith Ready to Wear collection is known for its elegant, on-trend design and offers women affordable and timeless styles with print and color that feels cheerful, tasteful and occasionally bold.

“From sleek silhouettes to bold prints, my Ready to Wear pieces are designed for every woman looking to express her personalized style,” said Smith. “That’s what makes my collaboration with Sears the perfect fit. Like me, Sears understands who its members are and genuinely cares about what they want – to look their best, whether at work or enjoying a night out, with statement-making looks, great details, quality, comfort and style for women of all sizes.”

The Jaclyn Smith Ready to Wear collection is curated of classic, sophisticated clothing, with quality fabrics, and ease of fit – all starting at $10.00. The collection features elegant essentials – from comfortable knit separates to woven staples like her best-selling blouses that are must-haves for transitioning from daytime to evening. Other highlights include a stylish selection of celebration dresses featuring silhouettes like curvy sheaths and classic A-lines, as well as jeans, tees, swimsuits and more available online.

Complementary line extensions like accessories and handbags are available online at Sears.com. The line joins the Spencer by Jaclyn Smith layette collection, which was introduced at Sears stores last fall. Spencer by Jaclyn Smith was created in partnership with Smith’s daughter, Spencer Margaret, in 2017 with inspiration from Smith’s granddaughter, Bea. Spencer by Jaclyn Smith features ultra-soft 100 percent cotton and cotton blends, affordably priced from $19.99 to $29.99. For a limited time, Shop Your Way members will receive $10 CASHBACK in points when they spend $25 or more on Jaclyn Smith’s new line in-store at select Sears.*

*Valid 3/14/18-3/17/18, in-store only, at select stores where her new clothing line is sold. See store for full details.

Posted March 15, 2018

Source: Sears, Roebuck and Co.

KBS Fashion Group Limited Announces A New Long Term Contract

SHISHI, China — March 15, 2018 — KBS Fashion Group Limited (“KBS” or the “Company”), a vertically-integrated casual menswear company in China, today announced that its China-based subsidiary, Anhui Kai Xin Co., Ltd (“Kai Xin”) entered into a long term strategic cooperation agreement with Hangzhou Zhi Yin Apparel Clothes Co., Ltd., a major producer of children’s apparel in China (“Zhi Yin”), under which, Kai Xin will act as a long term supplier of down jackets to Zhi Yin.  It is estimated that pursuant to the agreement, KBS will generate an additional RMB 25 million (approximately US$ 4 million) of revenue in fiscal year 2018.

Located in Hangzhou China, Zhi Yin is a leader in the design and online sale of baby and children’s apparel, with a focus on down jackets.  Owning the Marc & Janine brand, Zhi Yin is one of the three largest down jacket online sellers in China.

Mr. Yan, Chairman and new CEO of KBS, commented, “The cooperation with Zhi Yin, one of China’s largest apparel companies is consistent with our company’s business strategy of offering high quality products and services to our customers. We have a highly experienced team at our factories in Anhui that produces high quality clothing.”

Posted March 15, 2018

Source: KBS Fashion Group Limited

Nester Hosiery Promotes Jason Nester To Vice President Sales

MT. AIRY, N.C. — March 15, 2018 — Nester Hosiery, a U.S. manufacturer of performance merino wool socks, announced that it has promoted Jason Nester to vice president, Sales.

“In the thirteen years Jason has been with Nester Hosiery he has managed various facets of our business, and the skills and experience he has acquired have positioned him well for this leadership role.”,” said Kelly Nester, Nester Hosiery CEO.

Nester joined the family business in 2005 as a sales associate.  In 2014, he was promoted to director of Key Accounts handling the company’s private label business.  As vice president, Sales, Nester will continue to manage existing customers while also overseeing demand planning for the company.

“Nester Hosiery is a true 21st century manufacturing company,” added Jason Nester.  “We develop propriety software tools for manufacturing and continuously improve our efficiencies for the world’s best brands. I enjoy playing my part.”

Nester Hosiery currently produces socks for over two dozen leading brands and retailers and holds the sock license for the Woolrich brand and Rocky Brands’ divisions of Rocky Outdoor, including Georgia Boot and Durango.  In 2013, Nester Hosiery launched its Farm to Feet brand.

Posted March 15, 2018

Source: Nester Hosiery

GST Achieves Sustainable Competitive Advantage Through Unique Partnership With Lectra

PARIS — March 14, 2018 — A unique partnership enabled Lectra to test its revolutionary laser-cutting technology in a real production environment while delivering sustainable competitive advantage to the world’s leading supplier of airbag cushions.

Reaching The Next Level Of Growth And Performance

Global Safety Textiles (GST) is the leading independent producer of airbag fabric and airbag cushions and supplier to the majority of airbag manufacturers. Recognized for its long tradition of research and development, GST uses state- of-the-art technology to manufacture technical textiles for a variety of passive safety applications.

With operations on four continents, the German group has a workforce of more than 5,000. The company’s worldwide operations and resources enable it to fulfill high volumes of orders promptly, providing the global automotive industry with a steady supply of airbag fabrics and cushions.

To address GST’s main business challenges and meet their demanding manufacturing specifications, the group evaluated the performance of FocusQuantum OPW for one-piece-woven (OPW) airbag fabric together with Lectra in the pre-launch phase of the advanced laser airbag cutting solution. Following successful testing of Lectra’s advanced airbag cutting technology in a real production environment in Poland, the group then decided to acquire FocusQuantum OPW for implementation in China.

A One-Off Joint Testing Collaboration On Customer Premises

The result of a mutually beneficial collaboration between Lectra and its longstanding customer, specifications for laser OPW airbag cutting solution FocusQuantum took into account GST’s exacting requirements. Once the development of FocusQuantum OPW was completed, both companies agreed to conduct joint testing. “We came to the idea of joint testing when we visited Lectra’s R&D center in Bordeaux,” says Uwe Zimmermann, COO, GST. “We discussed taking validation of our specifications to the next level. The idea came up to do it directly in a manufacturing environment.”

The extensive testing enabled GST’s experts to certify FocusQuantum as a proven technological platform for the mass production of airbags. “Process capability was a formal part of validations at GST Poland,” recalls Piotr Siwek. Manufacturing Engineering Manager. “It was verified and confirmed that FocusQuantum meets GST’s targets. The biggest improvement over the previous solution was the software, which we also helped Lectra develop. FocusQuantum Suite is one of the biggest advantages.”

Worldwide Standardization And Rollout In China

As a result of the successful joint testing, GST decided to proceed with implementation in China. “Because GST aims to become a major player in Asia, implementation of FocusQuantum in China is the next logical step for us,” explains Zimmermann. “Standardization of all our equipment worldwide is mandatory for us. That’s why we decided to work with a global player like Lectra.”

With more than twice the productivity of the previous solution, FocusQuantum has exceeded GST’s performance targets. The significantly higher level of process capability has both improved cutting quality and reduced the number of defective cut parts.

“When we compare the unit output and unit cutting cost, we see a real improvement over the previous generation, so we are quite satisfied with the machine,” notes Sky Yang, General Manager, GST China. “It’s more reliable and productivity is significantly higher.”

Posted March 15, 2018

Source: LECTRA

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