U.S. Producer Of Low Melt Polyester Staple Fiber Files Trade Petition Against Two Countries

WASHINGTON — June 27, 2017 — Today, one of the largest U.S. synthetic fiber producers, Nan Ya Plastics Corp. America, filed a petition alleging that dumped imports of low melt polyester staple fiber (PSF) from Korea and Taiwan are causing material injury to the domestic industry. Nan Ya has asked the U.S. government to investigate dumping by the subject imports and injury to the domestic industry, and to impose anti-dumping duties on the imports of low melt PSF from Korea and Taiwan.

The petition alleges that producers in Korea are dumping low melt PSF in the U.S. market at margins of 32.95 to 45.84 percent. The petition further alleges that producers in Taiwan are dumping low melt PSF in the U.S. market at margins of 30.24 to 62.52 percent.

The petitions were filed concurrently with the United States Department of Commerce and the United States International Trade Commission.

The filing is in response to surging volumes of aggressively-priced low melt PSF imports from Korea and Taiwan. Subject import volume increased from 151.4 million pounds in 2014 to 199.1 million pounds in 2016, or by more than 31 percent over that three-year period, and continued to rise in the first quarter of 2017. The imports undersold the domestic industry, taking sales from and exerting considerable downward pricing pressure on U.S. producers.

As a result of increasing volumes of low-priced imports, the condition of the domestic industry has suffered. The domestic industry has experienced declining production and shipment volumes and deteriorating financial performance as a result of the lost sales and price depression caused by the imports. Korean and Taiwanese producers of low melt PSF also continue to threaten the domestic industry with additional injury due to their large and growing production capacity and extensive unused capacity that will be used to export large volumes of unfairly low-priced and subsidized product to the United States. The injury to the domestic low melt PSF industry is likely to continue if duties are not imposed to offset these foreign producers’ unfair trading practices.

“The U.S. companies producing low melt polyester staple fiber have suffered for years against rising volumes of dumped imports from Korea and Taiwan,” said Paul Rosenthal of Kelley Drye & Warren LLP, counsel for Nan Ya.  “The domestic industry needs trade relief from unfair import competition so that the business can thrive and continue providing critical manufacturing jobs in the United States.”

FACT SHEET

Antidumping and countervailing duties: Antidumping duties are intended to offset the amount by which a product is sold at less than fair value, or “dumped,” in the United States. The margin of dumping is calculated by the Commerce Department. Estimated duties in the amount of the dumping are collected from importers at the time of importation. Countervailing duties are intended to offset unfair subsidies that are provided by foreign governments and benefit the production of a particular good. The USITC, an independent agency, will determine whether the domestic industry is materially injured or threatened with material injury by reason of the unfairly traded imports.

Next steps: The Commerce Department will determine whether to initiate the antidumping and countervailing duty investigations within 20 days of today’s filing of the petitions and the USITC will reach a preliminary determination of material injury or threat of material injury within 45 days of today’s filing. The entire investigative process will take approximately one year, with final determinations of dumping, subsidization, and injury likely occurring by the middle of 2018.

Product description: The product covered by the petition is low melt polyester staple fiber, which is a bi-component staple fiber having a polyester fiber component that melts at a lower temperature (approximate melt point of 90° C to 220° C) than the other polyester fiber component (approximate melt point of 250° C). The two components of a low melt fiber can be produced in a core/sheath configuration or a side-by-side configuration. Low melt PSF is generally produced in a range of two to 15 denier (a measure of density expressed in terms of weight per unit length). Low melt PSF is similar in appearance to cotton or wool. It is typically used in non-woven applications in conjunction with other natural or synthetic fibers. The bonding feature of low melt PSF is used to fuse various fiber types together to create batting or shaped, felt-like insulation for uses such as automotive headliners, floors, and trunks, and soundproofing.

Petitioning company: The petitioning company is Nan Ya Plastics Corp. America, Lake City, S.C., represented by Kelley Drye & Warren LLP.

Posted June 27, 2017

Source: Kelley Drye & Warren LLP

Under Armour Announces Patrik Frisk As President And COO

BALTIMORE, Md. — June 27, 2017 — Under Armour Inc. today announced Patrik Frisk will become the company’s President and Chief Operating Officer (COO) effective July 10. In conjunction with Frisk’s appointment, the company also announced strategic executive changes to align its organizational structure to better leverage its digital business, support its move toward category management, and drive greater operational efficiency across the organization.

As President and COO of Under Armour, Frisk will have responsibility for the company’s go-to-market strategy and the successful execution of its long-term growth plan. He will report directly to Chairman and CEO Kevin Plank. The following executives will report to Mr. Frisk: Charlie Maurath, Chief Revenue Officer; Kevin Eskridge, Chief Product Officer; Andy Donkin, Chief Marketing Officer; Colin Browne, Chief Supply Chain officer; and, Kevin Haley, President of Strategy.

“Patrik’s global experience in brand building, including a proven and disciplined record of driving growth, while enhancing profitability and efficiency, will be instrumental as we work to transform our business model to deliver long-term value for our consumers, customers and shareholders,” said Plank. “The opportunity to leverage our strengths — innovative product, brand strength, premium sports marketing assets and unparalleled consumer connections — within an increasingly more digital ecosystem has never been greater.”

Mr. Frisk has nearly 30 years’ experience in the apparel, footwear and retail industry. Most recently, he was CEO of The ALDO Group, a global footwear and accessories company. Previous to that, he spent 10 years with VF Corp. where he served as the Coalition President of Outdoor Americas with responsibility for The North Face®, Timberland®, JanSport®, lucy® and SmartWool® brands. Before that, he was President of the Timberland® brand and prior to that, was President of Outdoor & Action Sports (EMEA) where he had responsibility for The North Face®, Vans®, JanSport® and Reef® brands. Previous to that, he was Vice President and General Manager of The North Face®. Before VF Corp., he ran his own retail business in Scandinavia and held senior positions with Peak Performance and W.L. Gore & Associates.

Additional Management Changes
Paul Fipps has been named Chief Technology Officer with responsibility for overseeing all aspects of engineering that support Under Armour’s web and mobile applications, as well as its information technology and real estate functions. Additionally, he will lead Under Armour’s Connected Fitness business with Chief Digital Officer and head of Connected Fitness Michael Lee reporting to Fipps directly. This realignment integrates the company’s digital ecosystem including its single view of the consumer data and additional SAP capabilities to fuel product creation and personalization, increase speed to market and accelerate consumer value. He will report directly to Plank. Most recently, he served as the company’s Chief Information Officer and executive vice president of Global Operations after joining Under Armour in 2014 as senior vice president of Global Operations. Prior to joining the company, he served as Chief Information Officer and corporate vice president of Business Services at The Charmer Sunbelt Group.

Colin Browne has been named Chief Supply Chain Officer with responsibility for all global operations related to product sourcing and logistics. Browne joined Under Armour in 2016 as president of Global Sourcing. Prior to that, he was vice president and managing director of Supply Chain at VF Corp., where he led all aspects of the company’s sourcing and product supply organization in Asia. Before VF, Browne was the executive vice president of Footwear and Accessories at Li & Fung, CEO of Pentland Brands in Asia, and held senior leadership positions at Reebok and Bally.

Additionally, in May, Kevin Eskridge was named Chief Product Officer. Eskridge has oversight of the company’s category management model, as well as its product, merchandising, design and innovation functions. He has been with the company since 2009, and has served in various leadership roles, including establishing the company business in China as managing director, its Outdoor business, and most recently served as senior vice president, Global Merchandising.

In addition to Frisk and Fipps, continuing to report to Plank will be the following executives: Kip Fulks, Strategic Advisor; Kerry Chandler, Chief Human Resources Officer; John Stanton, Senior Vice President, General Counsel and Corporate Secretary; and, David Bergman, Chief Financial Officer (Acting).

“Today’s leadership appointments and the streamlining of our organizational structure are transformative steps focused on a sharper, consumer-led approach and go-to-market strategy through our category management lens,” continued Plank. “With the stated goals of accelerating our innovation agenda, optimizing our product assortment and creating a merchandising center of excellence, this underscores our work toward evolving from a great brand with good operations – to a great brand with great operations.

Posted June 27, 2017

Source: Under Armour

Lectra’s Fashion 4.0 Event Looks Ahead To Tomorrow’s Digital Future

PARIS — June 27, 2017 — Lectra recently gathered more than 100 industry professionals from around the world at its state-of-the-art technology center in Bordeaux-Cestas, France, to look at how Industry 4.0 is shaping and transforming the global fashion and apparel business.

The conference brought together brands and manufacturers to discuss the major challenges fashion businesses are facing in today’s digital marketplace, and identify practical steps companies can take to digitalize their value chain. During two days of in-depth presentations and workshops, Pr Céline Abecassis-Moedas and Pr Valérie Moatti, ESCP Europe shed light on innovative new retail models; Liz Doupnik, associate editor, Women’s Wear Daily, shattered myths and set straight misconceptions about the millennial generation; and Fred Lemoine, Vice President, Weave Services, delved into the advantages of a digitalized supply chain. Among the attendees were some of today’s most prominent fashion brands, such as H&M and Shanghai-based Dayang Group, one of the world’s largest suit manufacturers.

Lectra took advantage of the occasion to announce the launch of Lectra Fashion PLM 4.0, proof of its commitment to empowering its customers with the best technology possible as they take their first steps towards Industry 4.0. With the widest functional scope on the market, the modular PLM solution acts as a connected, intelligent nerve center for today’s digital supply chain, from planning through design to production, ensuring a consistent flow of error-free data between processes, technologies and people, and providing companies with the agility to adapt to different business models and jump on trends quickly.

In keeping with this theme, Lectra customers were on hand to share their own experiences with digital transformation. Manuel Castaldo, business analysis and sourcing operations manager for leading Italian fast-fashion retailer OVS, underlined the importance of identifying key collaborators to facilitate the transition to digital: “When you decide to make digital changes in your company, you are not only selecting the right tool, you are selecting the right partner to help you make those changes in your daily – and future – work.” Thanks to Lectra’s PLM solution, Manuel Castaldo explained, OVS has improved the quality of information shared throughout their process, positively impacting product development and quality.

Fred Walck, director, project management for Mexico-based clothing supplier Grupo Kaltex, also outlined their reasons for choosing Lectra: “In the spirit of Industry 4.0, what interests us as a vertical manufacturer is connecting our physical supply chain with our virtual supply chain–our software, ERP, and WRMS. For us, Lectra offers the most comprehensive solution: an end-to-end system designed specifically for fashion and apparel.”

During the event’s keynote speech, Edouard Macquin, Chief Sales Officer, Lectra, explored mega trends that are turning the fashion industry on its head, and demonstrated how Lectra’s vision–and fashion-specific digital solutions–are helping fashion companies adapt to this ‘fourth industrial revolution’.

“Industry 4.0 is not only revolutionizing how manufacturers operate, but also how brands and retailers need to function. Lectra’s goal is to provide its customers with the technology and support they need to thrive and succeed in this new digital marketplace,” concluded Edouard Macquin.

Posted June 27, 2017

Source: Lectra

Jason Mills Celebrating A 10-Year Milestone

MILLTOWN, N.J. — June 27, 2017 — Textile convertor Jason Mills LLC will celebrate a 10-year anniversary this month as a provider of knit industrial textiles. Incorporated originally in 1976, the current incarnation of the company was purchased in 2007 by long-time employee Michael Lavroff. The company has grown and changed in many ways since its early days of manufacturing fabrics for laundry bags.

Materials are going through tectonic changes with the growth and use of nano textiles. The goals, and ultimately the mission of Jason Mills today is to harness the power of these changes and apply them in practical manners to best supply the industries it serves.

Combining product design and engineering along with finishes and inherent fibers are the key drivers for the company’s expansion into areas such as personal/occupational safety, automotive, aeronautical and healthcare textiles.

The company’s objective is to continue to improve upon current processes and materials so that corporations with fabric needs — both now and in the future — will have a supplier-partner to turn to. To borrow the mantra from Apple, Jason Mills wants to be where the puck is going, not where it’s been.

The next 10 years are right around the corner. We’ll see you there.

Posted June 27, 2017

Source: Jason Mills

NCTO CEO Testifies At USTR NAFTA Hearing, Outlines U.S. Textile Renegotiation Objectives

WASHINGTON — June 27, 2017 — National Council of Textile Organizations (NCTO) President & CEO Auggie Tantillo testified at the U.S. Trade Representative’s (USTR) hearing on Negotiating Objectives Regarding Modernization of North American Free Trade Agreement (NAFTA) with Canada and Mexico held in Washington on Tuesday, June 27.

In his remarks as prepared for delivery, Tantillo outlined the U.S. textile industry’s NAFTA negotiating objectives:

“On behalf of the National Council of Textile Organizations, thank you for the opportunity to provide input as USTR develops its objectives for modernizing NAFTA. NCTO represents the full spectrum of the U.S. textile sector, from fibers to yarns to fabrics to finished products, as well as suppliers of machinery, chemicals, and other products and services with a stake in the prosperity of our industry. The entire U.S textile manufacturing chain, from fiber through finished sewn products, employs 565,000 workers nationwide. In 2016, the industry manufactured over $74 billion in output, while exporting more than $26 billion of our production.

We strongly support President Trump’s intention to reopen NAFTA and agree that it can be updated and improved to significantly enhance U.S. textile production, exports, and employment. The NAFTA region enjoys vibrant fiber, yarn, and fabric sectors in addition to cut and sew capabilities. As a result, NCTO supports building on the successes of NAFTA through seeking reasonable improvements to the agreement, but not a cancellation thereof, due to the high level of supply chain integration that exists today.

This partnership is evidenced by robust trade flows. The U.S. textile sector has a demonstrated capability of developing export markets within the NAFTA region. In fact, Mexico and Canada are our two largest export markets, where U.S. textile and apparel exports topped $11 billion in 2016. Furthermore, we maintain a positive trade balance in the sector with our NAFTA partners, achieving a $3.5 billion surplus last year.

NCTO does not foresee a need to reinstate tariffs on NAFTA-qualifying trade. Instead, we recommend a thorough review of the rules of origin to ensure that lucrative tariff benefits are appropriately reserved for manufacturers within the region. NAFTA is based on a yarn-forward rule of origin for textile and apparel trade, a main driver for the integration that has developed among the three countries. Yarn forward was originally devised under NAFTA and is the accepted rule for the industry and the U.S. government in every free trade agreement (FTA) since because it reserves key benefits for manufacturers within the signatory countries. It is also easier to enforce than a value-added rule.

Despite the logic of the yarn-forward structure, most U.S. FTAs, including NAFTA, also contain damaging loopholes in the textile rules of origin. The most egregious example is tariff preference levels. Tariff preference levels (TPLs) allow for products to be shipped duty free despite their components, representing the bulk of the value, being sourced from outside countries. For example, a cotton top, made from Chinese yarn and fabric, can be cut and sewn in Mexico and shipped duty free to the United States. Consequently, TPLs undermine benefits for NAFTA textile manufacturers, transferring them to non-signatories, such as China, who often use predatory trading practices and have made no market-opening concessions themselves.

Altogether, Mexico and Canada may ship nearly 236 million square meter equivalents of apparel, made-ups, and fabric and 12.8 million kilograms of yarn containing third-party inputs annually under the TPLs. It is our strong recommendation that the NAFTA TPL regime be eliminated.

Beyond TPLs, there are other yarn-forward derogations, including assembly-only rules for certain garments. These additional loopholes warrant analysis to determine whether they should be eliminated or adjusted to enhance the benefits for U.S. textile manufacturers under the agreement. We also believe that there should be a review of certain buy-American concessions that were unnecessarily granted to our NAFTA partners.

As a final point, it is our view that there has been a systematic deemphasis of commercial fraud enforcement at U.S. Customs and Border Protection (CBP) over the past 30 years.  CBP suffers from both a lack of resources and focus particularly considering the layering of new trade agreements and significant increase in imports over this time. As a result, the benefits of NAFTA are being siphoned off by those willing and able to circumvent U.S. trade laws. Our sector is especially prone to fraud, noting that textiles and apparel represent 40 percent of all U.S. duties collected, or $14 billion a year. Clearly, improving NAFTA customs enforcement should be a major focus of this renegotiation.

In conclusion, we fully agree with President Trump that NAFTA can be improved through a set reasonable adjustments to the current text designed to enhance U.S. textile manufacturing and exporting. Further, we believe that by closing unnecessary loopholes in the agreement and placing a greater emphasis on customs enforcement, all parties throughout the NAFTA region will benefit. Doing so will help to build on the vibrant textile and apparel production chain in North America that has evolved under NAFTA.

Thank you for your consideration of our views, and NCTO looks forward to working with the Trump administration as the NAFTA modernization effort progresses.”

Posted June 27, 2017

Source: NCTO

Cotton USA Backs Future Industry Leaders As University Partnership Draws To A Close

LONDON — June 2017 — Cotton USA is pleased to announce the successful close to its first Innovation Competition in the United Kingdom, in partnership with the world-renowned textiles innovation and design school at Loughborough University. The Cotton USA Innovation Competition was designed to give students a real-world industry brief to excite and inspire, and provide the opportunity to work innovatively with high-quality U.S. cotton fabrics.

Running in partnership with the esteemed university’s Textiles: Innovation and Design program, which was recently rated the leading university for Fashion and Textiles in The Guardian University Guide 2018 for the third time in four years, the competition worked with second year students who specialized in both textiles and fabrics.

The competition gave them guidance on how to develop new and innovative ways of working with U.S. cotton, while encouraging them to be as creative as possible within an allocated budget. After six weeks of exemplary work, Cotton USA is proud to announce that the winner of the Innovation Competition is Lucy Dennis, and the three runners-up are Emily Brennan, Alice Charter and Sophie Tresadern.

The winning submissions were judged and announced by a panel of experts from Cotton USA and Loughborough University at a dedicated special ceremony. In addition to the support provided by Cotton USA throughout the competition, it will continue to work with the winner and runners-up to promote their talents to a network of professionals across the industry. The competition has given all participants a number of opportunities to demonstrate their technical knowledge, while also elevating the profile of their creative designs.

Stephanie Thiers-Ratcliffe, International Marketing Manager for Cotton USA, commented: “The students and team at Loughborough University have been the perfect partners for our first Cotton USA Innovation Competition in the UK. The talent we’ve seen has been enormously impressive, and more than lived up to the high standards the textiles department produces year after year. The level of talent and passion shown by students at the school has been a pleasure to witness throughout the initiative. Cotton USA is thrilled that we have been able to provide a platform for the students’ work and we are so pleased to be able to announce the winner and runners-up.”

“Helping students to enhance their unique and individual abilities by working with high-quality fibres, such as U.S. cotton, has been at the heart of this competition, and Cotton USA is so glad to provide the future of the industry with an opportunity to work with such a versatile and trustworthy material.”

Kerry Walton, Programme Director of Textiles: Innovation and Design at Loughborough University said: “We are delighted to have worked with Cotton USA on the Innovation Competition. We’re committed to providing our students with the right opportunities to help them thrive, and outstanding, relevant insight into the world of contemporary textiles. This competition has done exactly that.”

“Working with U.S. cotton has given students the opportunity to develop vital skills for the future and learn first-hand how integral quality materials are to innovative designs,” she added.

Loughborough is one of the country’s leading universities, with an international reputation for research that matters, excellence in teaching and strong links with industry. It has been awarded five stars in the independent QS Starsuniversity rating scheme, putting it among the best universities in the world.

Posted June 26, 2017

Source: Cotton USA

ADVANSA’s Polyester Fiber From Recycled Polymer Approved By FDA For Food Contact End-uses

HAMM, Germany — June 2017 — ADVANSA, one of the main suppliers for the nonwoven wallpaper industry, has now received an official statement from the reputable Federal Food and Drug Administration (FDA) of the United States for its recycled fibers from post-consumer sources, as being the first fiber manufacturer worldwide producing recycled fibers which are safe for food contact end-uses.

Thanks to its innovative recycling technology, Advansa has the capability to produce polyester short cut fibers suitable to meet the very demanding quality requirements of base paper for wall coverings while using post-consumer recycling material as feedstock for those fibres. The use of such post-consumer feedstock might create some concerns at specific consumers; thinking about chemical contaminations from unintended misuse of PET articles. Using scientific evaluation approaches which are well-known from the packaging industry, Advansa could prove that the fiber manufacturing process has cleaning capabilities even suitable to produce fibers appropriate for food contact applications, like coffee filter pads and food wrapping materials. Thus, Advansa obtained recently an official statement from the reputable Federal Food and Drug Administration (FDA) of the USA, a non-objection letter, confirming Advansa’s fibers made of 100-percent recycled feed material being safe for food contact end uses. And with no lower aspirations, Advansa offers the same safety level for the base fibers for fleece wallpaper that are essential for superior properties compared to conventional paper.

This FDA non-objection letter for the recycling process marks an important milestone for Advansa, being the first fiber supplier ever awarded for their products.

Health and safety aspects are undoubtedly the most important parts of the quality of life. The ways in which people behave are dictated by everyone´s principles to guarantee highest quality of personal environment and to assure a clean and healthy living space; decisions made are also founded on the environmental principles. Therefore the demand on quality products protecting health as well as the environment is increasingly high.

At Advansa, business strategies are based on investing in safety, health and environment beyond requirements. The company is taking all necessary steps during its daily operations to ensure strong environmental protection and offers high-quality fibers which comply with applicable environmental, health and safety regulations.

Being a supplier to several industries such as the nonwoven wallpaper industry, Advansa offers creative solutions to manufacturers with its FDA-compliant fibers.

Frank Heimann, Business Director Engineered Fibres of Advansa, commented: “Manufacturers are looking for highly advanced fibers to get added-value products for their production. We are very pleased to receive the non-objection letter from FDA for all our recycled fibers and to be able to fulfill our large task of offering our customers a high level of productivity as well as a differentiation in the market. Hence, sustainability and health remain core values within Advansa, without any compromise in the quality of fibers.”

Posted June 26, 2017

Source: Advansa

KSS And Takata Reach Agreement In Principle Regarding Purchase Of Substantially All Of Takata’s Assets

STERLING HEIGHTS, Mich./TOKYO — June 25, 2017 — Key Safety Systems (KSS), headquartered in Sterling Heights, Mich., and Takata Corp. (Takata) — a global supplier of automotive safety systems such as seat belts, airbags and child seats — announced today that they have reached an agreement in principle to sponsor a restructuring plan for the purchase of substantially all of Takata’s global assets and operations by KSS for an aggregate purchase price of $1.588 Billion (approximately ¥175 billion), subject to certain adjustments at closing.

Under the agreement, KSS will acquire substantially all of Takata’s assets, except for certain assets and operations that relate to Takata’s manufacturing and sale of phase-stabilized ammonium nitrate (PSAN) airbag inflators (collectively, the PSAN Assets). It is expected that Takata’s PSAN-related operations will be run by reorganized Takata following the transaction closing and eventually will be wound down.

By combining substantially all of Takata with KSS, the transaction would form a leading global safety supplier with approximately 60,000 employees in 23 countries focused on serving customers and providing superior products and innovation in the rapidly evolving auto safety industry.

Jason Luo, president & CEO of KSS, said: “Takata has deep management talent, a dedicated work force and a long history of exceptional customer service. Although Takata has been impacted by the global airbag recall, the underlying strength of its skilled employee base, geographic reach, and exceptional steering wheels, seat belts and other safety products have not diminished. We look forward to finalizing definitive agreements with Takata in the coming weeks, completing the transaction and serving both our new and long-standing customers while investing in the next phase of growth for the new KSS.”

Shigehisa Takada, chairman & CEO of Takata, said: “KSS is the ideal sponsor as we address the costs related to airbag inflator recalls, and an optimal partner to the company’s customers, suppliers and employees. The combined business would be well positioned for long-term success in the global automotive industry. Throughout this process, our top priorities have been providing a steady supply of products to our valued customers, including replacement parts for recalls, and a stable home for our exceptional employees.  This agreement would allow that to continue.”

The proposed structure for the potential transaction is intended to minimize transaction risk and supply chain disruption concerns for Takata’s OEM customers.  The companies anticipate a quick and seamless integration, utilizing the combined strengths of their respective management teams to implement a smooth transition.

KSS will continue to support Takata’s customers, suppliers and employees and embrace and honor Takata’s Japanese heritage:

  • KSS plans to retain substantially all of Takata’s employees across the world on comparable employment terms as currently provided.
  • KSS has held in-depth discussions with Takata’s major OEM customers and has jointly developed a transaction structure and operating plan to facilitate ongoing supply of Takata parts. This should provide continuity of supply to Takata’s customers and confidence to Takata’s employees, suppliers and other key stakeholders.
  • KSS plans to continue to support and utilize Takata’s presence in Japan, and does not intend to shut down any of Takata’s manufacturing facilities there. Furthermore, KSS intends to establish an Asia regional headquarters in Tokyo, which should create new jobs in Japan, and plans to retain Takata’s existing non-PSAN supplier contracts to maintain an uninterrupted supply chain. KSS also intends to invest in many of Takata’s other worldwide manufacturing facilities and technology and R&D centers.

KSS has substantially completed its due diligence, and Takata and KSS are working toward finalizing a definitive agreement in the coming weeks. Takata has determined that it is in the best interests of the company and its stakeholders to address the recall-related issues in conjunction with the proposed sale. Accordingly, with KSS as plan sponsor, proceedings have commenced under the Civil Rehabilitation Act in Japan and in the United States of America under Chapter 11 of its bankruptcy code.  Subject to successful completion of the in court proceedings and other closing conditions, including certain regulatory approvals, KSS expects transaction closure can occur in the first quarter of 2018.

Further information regarding the proceedings can be found at www.takata.com.

Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal counsel, KPMG is serving as financial advisor, Jefferies LLC is acting as lead financial advisor while UBS Investment Bank also provides financial advice to KSS.

Nagashima Ohno & Tsunematsu and Weil, Gotshal & Manges LLP are serving as legal counsel to Takata. PricewaterhouseCoopers is serving as financial advisor, and Lazard is serving as investment banker to Takata.

Posted June 26, 2017

Source: Key Safety Systems

Archroma To Sponsor SDC International Design Competition 2018 With Its Color Atlas System

REINACH, Switzerland — June 26, 2017 — Archroma will be the new major sponsor for the SDC International Design Competition 2018 launched by SDC on June 20, 2017.

SDC’s annual competition engages with hundreds of students, universities and designers globally, helping the entrants develop their understanding of color and the challenges around sustainability in the textile supply chain. The theme for 2018 is color communication.

With a global textile supply chain, being able to communicate a given color through the supply chain efficiently and effectively is vital. Ultimately this provides the designer with the knowledge that their product is commercially suitable from the initial concept stages through to final product.

Archroma will support the competition with its Color Atlas color management system, which will be key to both the competition theme and the accompanying educational package.

The Color Atlas includes:

  • A physical library consisting of over 4,300 colors, in six volumes, for quick and intuitive browsing of the cotton poplin samples.
  • Mobile-friendly Color Atlas Online with exciting features such as color-on-the-go which allows you to capture an image using your smart phone, and identify the closest Color Atlas shades.
  • Engineered Color Standards connected to robust online technical databases via mobile communication technology.
  • Using these colors also provides the best opportunity to minimize the environmental impact during the dyeing/printing process by ensuring that the dyes conform to many of the environmental standards that exist and are applied using best practice.

“We at Archroma are very proud to be the official sponsor of the SDC International Design Competition,” said Brad McClanahan, Global Head of Service Businesses at Archroma. “The participants will be able to experience first-hand how the Color Atlas can support their creativity. For Archroma, this is a great opportunity to further drive innovation and sustainability in the textile supply chain.”

“We are looking forward to seeing our Color Atlas translating into cool fashion pieces,” McClanahan concludes.

Posted June 26, 2017

Source: Archroma

Textile Firm To Create 260 Jobs In Winston-Salem, N.C.

RALEIGH, N.C. — June 19, 2017 — HPFABRICS Inc., a manufacturer of raw fabrics, has selected Forsyth County for a new production and product development facility, creating 260 jobs over three years, Governor Roy Cooper announced today. The company plans to invest $1.1 million over the next 2 years in a plant in Winston-Salem that formerly housed Microfibres, a company no longer operating in the city.

“North Carolina offers the skilled workforce companies need to succeed,” Governor Cooper said. “The specialized experience our workers bring to the table is known around the world, and that stellar reputation played an important role in the company’s decision to come to our state.”

HPFABRICS is a subsidiary of Tukek Holdings, A.S., headquartered in Istanbul, Turkey. The holding company maintains manufacturing outposts around the world.  The Winston-Salem facility will play an important connecting role in the Tukek global production network while producing raw fabrics for a variety of commercial and consumer goods, including upholstery. The company expects to create additional jobs and investment at the facility over a five-year period.

“It’s a pleasure to see an idle facility come to life again, opening new opportunities for North Carolina’s talented workers,” said N.C. Commerce Secretary Anthony M. Copeland. N.C. Commerce and the Economic Development Partnership of N.C. were instrumental in supporting the company’s investment decision.

The new positions in Forsyth County will provide a payroll impact of more than $8.2 million annually to the local economy.

“This investment will help Tukek to strengthen its global position in the flocking industry while bringing the lost jobs back and creating much more than what Microfibres had to offer at its best years,” said Rafet Tukek, the president of HPFABRICS and Tukek Holding, A.S. “This investment will also strengthen trade between Turkey and the United States of America and will be one of the first manufacturing-related direct investments made by a Turkish company into the United States economy.”

A performance-based grant of $250,000 from the One North Carolina Fund will help facilitate HPFABRICS’ location to Forsyth County. The One NC Fund provides financial assistance to local governments to help attract economic investment and to create jobs. Companies receive no money upfront and must meet job creation and capital investment targets to qualify for payment. All One NC grants require a matching grant from local governments and any award is contingent upon that condition being met.

“We welcome HPFABRICS’ decision to restart production at the former Microfibres plant in Winston-Salem,” said N.C. Senator Paul Lowe, Jr. “These new jobs and the additional capital investment will bring new opportunities to our region.”

“Many partners in our community came together to support HPFABRICS’ selection of Forsyth County,” said N.C. Representative Donny Lambeth. “We look forward to the many good things this company will bring to our area.”

In addition to North Carolina Commerce and the Economic Partnership of North Carolina, other key partners in the project include the North Carolina General Assembly, the North Carolina Community College System, Forsyth County, the City of Winston-Salem, and Winston-Salem Business, Inc.

Posted June 23, 2017

Source: Office of the Governor of North Carolina

1...1,5331,5341,535...2,529Page 1,534 of 2,529

Sponsors

Breaking News

Load more

Digital Issue

2025 Quarterly Issue Number II

View Latest Digital Issue

FEATURED ARTICLES

© Copyright 2017 Textile Industries Media Group, LLC.