Walks Like A Textile, Quacks Like A Textile, But Not A Textile Product

Textile trade law is a fascinating area of frustration. For some, U.S. trade laws are preferred
foreign policy tools that establish economic links among nations — usually involving foreign makers
and U.S. consumers and the promise of trade balance sometime in the future.

For others, using trade law progressively is a way to help raise least developed countries
out of poverty. U.S. merchants have interests in trade law that assists them in bringing low-cost
goods to U.S. consumers while improving the competitiveness of their operations. U.S. trade unions
want trade law to reward countries that make improvements in worker rights, freedom to organize,
child labor restrictions and wages. U.S. textile manufacturers range from hard-line protectionists
to more moderate “level playing field” players that want to ensure fair competition with foreign
sources that may have an advantage by leveraging cheap labor; low safety, health and environmental
regulations; and manipulation of currency that acts like an export subsidy.

And, don’t forget the political game of trade that attracts big dollars and support from all
of these interests and others to candidates running for office.

A news piece by

Textile World
 Washington Correspondent Jim Morrissey concerning controversy over a recent trade-related
ruling states: “The controversy stems from the release by the U.S. Trade Representative of the
latest Generalized System of Preferences [GSP] Review, in which the government denied a petition
from Exxel Outdoors, a manufacturer of sleeping bags, to have them classified as textile products.
The decision will allow overseas manufacturers to avoid a 9-percent tariff on a wide range of
products, including sleeping bags, that are not classified as textile products.”

Aside from being a real head-scratcher — who knew that a sleeping bag wasn’t a textile
product? — the ruling is a brilliant example of what a tangled web trade law really is.

For background, the United States International Trade Commission concluded investigation No.
332-513 and issued Publication 4141: “Advice Concerning Possible Modifications to the U.S.
Generalized System of Preferences, 2010 Special Review, Certain Sleeping Bags.” Although in the
public version of the report, most of the data and, ironically, the advice are removed – literally
– from the document, you can see how detached from reality the world of trade policy really is.

Bangladesh — which has cheaper labor costs than China, which has a 98-percent market share of
sleeping bags imported to the U.S. — exported $17,287 worth of sleeping bags to the United States
in 2008 and $611,927 in 2009. Bangladesh also qualifies for relief under GSP, and because sleeping
bags aren’t textile products, it is not subject to the 9-percent tariff. China, on the other hand,
is subject to the tariff.

Is a sleeping bag a textile product? At the moment, no, and the ruling is a win for Cellcorp
Global Limited – rival of Exxel in the matter; the NorthPole Ltd., which has an operation in
Bangladesh and a second underway; the Peoples Republic of Bangladesh; and the National Retail
Federation.

July/August 2010

A Strong First Half


T
 he first half of 2010 ended for many spinners exactly the way it started: running at full
capacity with orders coming in faster than they can process them. Production backlogs are extending
out many weeks, and even months. This time last year, many spinners reported their backlogs were
down to just a few days.

“It’s definitely a seller’s market at the moment,” said one Southeastern spinner. “We expect
business to continue strong at least for the remainder of the year and, hopefully, well beyond
that.”

Another spinner noted that for the first time in recent memory, his plant would operate a
full schedule over the Fourth of July week.

“We will be running flat out. Our challenge now is not to get too far behind,” he said. “But
with all of the changes we are making — orders are still short — it’s everything we can do just to
keep up.”

Not only are orders still relatively small, at least for most specialty spinners, the variety
of yarns spun is on the rise. “It seems that everybody wants something different — some way, big or
small — to make their products stand out from their competitors,” said one specialty spinner. “It
requires us to do a lot of changing out. But we’re happy to get the business any way we can get
it.”

Said another spinner: “Our product mix has changed. We used to sell a lot of cotton, but
lately we’ve been moving a lot of rayon.”


Margin Pressures Remain


Despite the robust business yarn spinners are enjoying, the seemingly never relenting
pressure on profit margins remains.

“It doesn’t do us any good to sell all of this yarn if we can’t turn a profit on it,” quipped
one spinner. “The fight for us right now is raw material prices. Every day, it seems I pay more for
raw materials than I did the day before. They are just out of sight.”

He continued: “It’s hard for us because the retailers don’t want any price increases, but
they are being forced to accept them. If they are not willing to pay a higher price, they don’t get
yarn. But the problem is you can’t raise prices fast enough to keep pace with the price of raw
materials.”

An offshoot of increased prices is that production of some commodity yarns has actually
decreased, according to one spinner.

“Retailers aren’t willing to pay the price the product is commanding right now, so they are
moving to cheaper products,” he said. “They are using lower-quality yarns to make their premium
products now. The yarns that used to go into a $30 shirt are now going into an $80 shirt. It’s hard
for me to believe that consumers won’t recognize that, and that it won’t end up eventually costing
the retailers business.”

Not only are raw material costs going up, but an already hotter than normal summer is driving
up energy costs, especially in the South Atlantic region.

“We’ve been hit there, too, and will probably be hit even harder next month when we pay for
these temperatures that have been running 10, 12 or even 15 degrees hotter than normal,” said one
spinner.

If there is a single saving grace in material costs, said a specialty spinner, it is that the
cost of trade with Europe has not escalated significantly.

“The dollar has been holding its own against the euro lately, and that has helped us,” he
said.


Delivery Moving Out


One of the differentiating characteristics of spinners in the Western Hemisphere is their
ability to quickly and efficiently deliver orders.

“Quick response has been one of the keys to our success for quite some time now,” said one
spinner. “As good as the market is at the moment, we cannot afford to forget the basic points of
differentiation that have allowed us to remain competitive with low-cost countries. Those points
include innovation, service and fast turnaround. As capacity fills, some of those very short
delivery times are, out of necessity, being extended. This time last year, if you ordered yarn from
me today, I could get it to you next week. Now you are looking at two months or more. At some
point, that has the potential to open some doors we would just as soon keep closed.”



July/August 2010

Mid-Year Progress Report

Mills are entering the third quarter in tolerably good shape. Activity so far this year, despite
still strong import competition from China and other countries,is managing to hold its own. Indeed,
year-to-date dollar shipments for basic mill products have been running close to 13 percent ahead
of comparable 2009 levels. And a smaller but still upbeat 2.5-percent increase is noted for more
highly fabricated goods. Apparel sales also have been holding up fairly well over this time period.
And a similar picture is apparent when you zero in on production numbers – with output of both
basic and more highly fabricated products now running above year-ago levels. More importantly, all
signs suggest a continuing upbeat trend moving into summer and fall. For one, the latest Institute
for Supply Management report — a leading indicator that reflects activity at the grass-roots
purchasing manager level — shows a similar positive trend.

Another upbeat sign: Industry inventories on both the mill and apparel levels have been
edging lower in recent months and now are in fairly trim shape. If nothing else, this should clear
the way for increasing orders to quickly translate into new production.

Finally, a still-improving general business outlook should also help shore up textile and
apparel activity. Most economists see gross domestic product advancing at about a 3- to 3.5-percent
rate this year. Add in the fact that Americans will be spending more of their available income this
year – the savings rate is expected to decline from 4.2 percent in 2009 to only 3.4 percent this
year – and further industry recovery seems pretty much certain.

BFchartjuly


Bottom Line Impact


Improving activity also is helping to prop up recently depleted industry profit levels.
Official government figures for first quarter 2010 show operating profits for both textile and
apparel firms up substantially compared to late 2009 levels. More significantly, new Global Insight
projections suggest earnings gains will persist through the remainder of the year and well into the
future. Using its own definition of operating profits — shipments less raw material and labor costs
— the consulting firm expects basic mill product earnings to increase a hefty 35 percent for
overall 2010. And the anticipated gains for both more highly fabricated mill products and apparel
are also quite impressive, up 15 percent and 26 percent, respectively. To be sure, it should be
pointed out that these increases are being compared to a rather dismal 2009. Nevertheless, they
again confirm the underlying health of these industries and their ability to bounce back after a
major recession. So do Global Insight profit projections for  2011 and 2012. In all three
industry categories, earnings are expected to remain steady or maybe even show some further modest
increases. Even the really far-out picture of 2013 to 2019 looks reasonably reassuring. True, there
might be some profit declines over this extended period. But they’re expected to be spotty and
quite modest – certainly nowhere near the huge slippages reported over the past two decades.


What It All Adds Up To


Factor all the above into the forecasting equations, and

Textile World
 sees both basic and more highly fabricated textile products ending up in the plus column
when the dust finally settles in 2010. That’s considerably better than the January predictions,
which showed textile shipments declining about 1 to 2 percent. Apparel activity should also pretty
much hold its own – a welcome change from last year’s big double-digit, recession-driven decline.
To be sure, none of this will bring activity back up to anywhere near the levels prevailing before
the recent downturn, but it does suggest that the U.S. textile/apparel industry complex is going to
survive and even prosper. Further evidence to support this conclusion comes from revised long-term
forecasts just released by Global Insight. These new numbers from one of the nation’s top economic
think tanks suggest that over the following two years, overall textile shipments will remain
relatively flat – a refreshing change from the steady tattoo of losses recorded over the past few
decades. And while some further modest erosion for domestic apparel manufacturers is anticipated,
the decline should not be nearly as precipitous as in most recent years.

July/August 2010

Trans-Pacific Trade Pact Moving Forward

Battle lines are being drawn between textile manufacturers and importers as the United States and
seven other nations move forward

with negotiation of a Trans-Pacific Strategic Economic Partnership Agreement (TPP) that the
U.S. government says is intended to “dramatically increase” U.S. exports to the Asia-Pacific area.
The Obama administration is seeking to develop what it calls a “high standard 21st Century regional
trade agreement” with Australia, Brunei, Chile, New Zealand, Peru, Singapore and Vietnam.

As the second round of negotiations was concluded in mid-June in San Francisco, government
officials, importers and textile manufacturers saw the agreement in an entirely different light.
With much of the preliminary discussions out of the way, the participating countries expected to
get down to serious negotiations this fall. They have created nine issue negotiating groups
including one on textiles.

It is apparent that stakeholders in the United States believe the pact presents both
opportunities and pitfalls, and they are working with the U.S. Trade Representative (USTR) and
members of Congress to address their issues.

The National Textile Association (NTA), for example, has told the USTR it does not think the
agreement will result in a significant increase in market access for U.S. textile products; and, in
fact, it believes the pact could result in severe disruptions in the U.S. industry. NTA is
concerned that the TPP will undermine a two-decades-long consensus on textile rules of origin in
preferential trade agreements in which the United States is a partner. It views the pact as a
“continuation of failed trade policies tilted in favor of foreign partners at the expense of
domestic interests.”

While saying it is difficult to gauge the impact of the agreement at this time because key
details have not yet been negotiated, the National Council of Textile Organizations (NCTO) is
particularly concerned about including Vietnam in the agreement, claiming that because of its
non-market economy, Vietnam will become “another China.” In a filing with the USTR, NCTO President
Cass Johnson said including Vietnam is “a bad policy move” that encourages the “China model” of
export dependency that will lead to higher trade deficits for the United States and more U.S.
textile job losses, as well as apparel job losses in other Western Hemisphere nations. At the
moment, Vietnam is participating in the negotiations as an “associate member,” and there reportedly
are some concerns about whether it wants to participate fully, as it would be forced to meet labor
and other requirements that it may not be willing to adopt.

In addition, Vietnam is on the U.S. watch list of countries that the United States does not
feel have acceptable safeguards against violations of intellectual property rights.

Apart from the Vietnam issue, Johnson also made an appeal for a strong yarn forward rule of
origin and effective Customs enforcement.

On the other hand, the National Retail Federation (NRF), whose members are among the largest
importers of textiles and apparel, certainly wants to include Vietnam along with the other
countries, as  it sees “significant market access opportunities.” NRF says Vietnam has become
an important supplier to the U.S. market, and in some cases, its members see Vietnam as an
alternative to sourcing in China. The federation also says that including Vietnam in the agreement
would assist in moving Vietnam away from a centrally planned economy to a market economy.

In addition, NRF sees the TPP as an opportunity to change the textile rules of origin, which
it has long opposed for being so complicated and restrictive as to negate the benefits of
preferential trade agreements.

The retailers group also sees an opportunity to solve problems with anti-dumping and other
trade remedies in the United States and other countries – problems that it says constitute barriers
to developing viable retail operations. NRF suggests that one good start would be to exempt free
trade agreement (FTA) partners from anti-dumping laws.

The American Apparel and Footwear Association (AAFA) says the TPP can present new market
opportunities, particularly in Vietnam, Brunei and New Zealand, with which the United States
currently does not have FTAs, as U.S. branded products would qualify for duty-free status in what
it says are some of the fastest-growing and richest nations in Asia and the Pacific. AAFA says the
agreement would “foster alternative sourcing opportunities” for U.S. clothing and footwear for
companies that are interested in developing new supplier opportunities.

It also believes the TPP would promote business certainty and investment predictability in
the participating countries.

All in all, importers see some positive opportunities, while textile manufacturers are wary
of the final outcome.


What About Chinese Currency?


Although China made a bunch of headlines with its recent announcement that it plans to move
forward with what it says will be “reforms” in its currency exchange rate, no one expected anything
very significant to happen soon.  Although President Barack Obama and Treasury Secretary
Timothy Geithner praised the announcement as “a constructive step,” industry and congressional
critics of China’s currency policies were not very impressed.

Sen. Charles Schumer, D-N.Y. — who, along with 18 other senators, is sponsoring legislation
that would impose stiff tariffs on Chinese imports if China does not reform its exchange rate in a
meaningful way – described the Chinese announcement as “a vague and limited statement of
intentions.”

House sponsors of currency reform legislation held a rally on Capitol Hill and called on
China to “immediately end its currency manipulation.” Rep. Tim Murphy, R-Pa., one of the lead
sponsors of currency reform legislation in the House, said: “Exports from China are artificially
cheaper than products from international competitors because of currency manipulation. The
manipulation of currency and subsidizing of industry by China has put American workers at a
competitive disadvantage. We cannot just take China’s word that its policies will change. It is
time for America to act.”

Charles Blum, executive director of the Fair Currency Coalition, which includes textile
industry members, said at the rally that “a persistently undervalued renminbi acts as both an
export subsidy and trade barrier by making Chinese goods less expensive than their American
counterparts.” He dismissed China’s move to make its currency more flexible as falling far short of
what is needed, saying that if China permits the renminbi to rise by 3 to 5 percent over the next
few months, “it would come nowhere near close to eliminating the renminbi’s estimated 35 to 40
percent undervaluation relative to the U.S. dollar.”

Despite all the sound and fury, the Obama administration and China are most likely to
continue pursuing a diplomatic solution to the problem.


Textile Manufacturers See Hope For Customs Reform


U.S. textile manufacturers are optimistic that Congress will enact legislation that would
give government trade officials new authority, direction and resources to do a better job of
attacking illegal imports of textiles and apparel. The first-ever textile-specific Customs
legislation has the backing of a strong bipartisan coalition in the House, and the idea is gaining
support in the Senate.

 

The legislation would give Customs expanded authority to seize illegal imports; provide ways
to attack undervalued imports that escape their true tariff assessments; direct the appointment of
textile specialists at high-traffic ports of entry; establish a system for electronic verification
of shipments; create an Office of Textile and Apparel Trade Enforcement within the Department of
Justice to carry out enforcement cases; and mandate the government to publish the names of
companies that intentionally violate the rules of trade agreements. The textile trade bill also
allows the Department of Homeland Security to use fines and penalties to help pay for additional
investigating and training.

The United States is the world’s third-largest exporter of textile products, with such
exports valued at more than $13 billion last year. With the majority of these exports going to free
trade agreement and other preference program participants, the industry relies heavily on strong
Customs enforcement for its livelihood. The National Council of Textile Organizations (NCTO) claims
that during the past decade, the industry has seen “a disturbing increase in fraudulent activity”
in which mislabeled goods slip by Customs and mistakenly are permitted to qualify for the duty-free
treatment accorded participants in preferential programs. NCTO believes the Textile Enforcement and
Security Act of 2010 will close many of the loopholes that permit fraudulent textile trade.

July/August 2010

Jo-Mar Spinning To Set Up Operations In Belmont, NC

Jo-Mar Spinning will invest more than $1 million to establish yarn spinning and twisting operations
as well as its corporate offices in Belmont, N.C., in the former Helms Plant of sales yarn spinner
R.L. Stowe Mills Inc., which closed its doors in 2009 after 108 years in business. The company
expects to create some 100 jobs within its first year of operation.

“Jo-Mar Spinning is excited to come to Belmont and Gaston County. This represents a new and
great beginning for our company,” said Joe Ludlum, Jo-Mar’s location manager.

July/August 2010

  

Advanced Textiles 11 To Colocate With ITMA In Barcelona

The European Committee of Textile Machinery Manufacturers (CEMATEX), owner of the ITMA textile
machinery exhibition, has invited the Roseville, Minn.-based Industrial Fabrics Association
International (IFAI) to colocate its Advanced Textiles ’11 conference with ITMA 2011, to be held
Sept. 22-29, 2011, in Barcelona, Spain.

Advanced Textiles ’11 will present new technical textiles research and developments during
three morning sessions September 26-28. Topics include: a technical textile market overview
including demands and challenges; a look at the requirements for end markets such as performance
apparel; bio-hazard/extreme environments; electronic interactive materials; digital signage; and
complex materials applications.

July/August 2010

Frontier Spinning Expands Operation In Sanford, NC

Frontier Spinning Mills, Sanford, N.C., is investing $15.5 million to expand manufacturing
operations in Sanford, with plans initially to create 45 technology-based jobs and to install
state-of-the-art spinning machinery that offers increased production speeds and enhanced product
quality.

The company produces air-jet-spun and open-end cotton and cotton/polyester yarns for the
knitting and weaving sectors at facilities in North Carolina, Georgia and Alabama. Its current
workforce totals some 1,100 people, and it spins more than 500 million pounds of yarn annually.

John Maness, executive vice president, sees business prospects improving in the wake of a
particularly difficult period of economic recession. “With those better prospects and this
expansion allowing us to enter new markets and expand our sales, we feel like we have a bright
future here in Sanford,” he said.

July/August 2010

Treasury Says China Is Not A Currency Manipulator

In the wake of the U.S. Treasury Department’s decision not to cite China as a currency manipulator,
manufacturers and members of Congress who believe China’s currency practices amount to an illegal
subsidy for its exports have renewed their calls for legislation to address the issue.

On July 6, the Treasury Department sent Congress its Semiannual Report on International
Economic and Exchange Rate Policies, which concluded that China is making progress toward
revaluating its currency by no longer linking the value of its renminbi to the dollar. While
admitting the renminbi is undervalued, the report said the new policy announced June 19 is a
“significant step” toward allowing the exchange rate to appreciate in response to market forces.

“What matters now is how far and how fast the renminbi appreciates,” Treasury Secretary
Timothy Geithner said. “We will closely and regularly monitor the appreciation of the renminbi and
will continue to work towards expanding U.S. export opportunities in China.”

The Alliance for American Manufacturing’s Executive Director Scott Paul said China’s
announced plan to free up its currency is “nothing more than a charade,” and “the administration
has fallen for this rather unbelievable promise.”

While U.S. manufacturers contend that the renminbi is undervalued by as much as 40 percent,
the Associated Press estimates the value of the renminbi has appreciated by only about 0.8 percent
since the June announcement.

Sen. Chuck Schumer, D-N.Y., who is sponsoring legislation that would impose stiff penalties
on countries that manipulate their currencies, said: “This report is as disappointing as it is
surprising. It makes it clear it will take an act of Congress to do the obvious and call China out
for its currency manipulation.”

The Fair Currency Coalition, which includes a number of textile members, also called for
legislation to address what it says is a continuing problem that is costing thousands of U.S. jobs.
The coalition pointed out that the U.S. Constitution empowers Congress to regulate foreign trade,
and Congress has delegated to the Commerce Department authority to enforce trade laws, and added,
“Inaction by these decisive players on the China currency is no longer an option.”

A statement released by the coalition said, “It is time for Congress and the Obama
Administration to stop waiting for each other to act and start working together to halt China’s
job-destroying persistent undervaluation of the renminbi that is so damaging to the U.S. economy.”

July 13, 2010

Eschler, Grabher Group Team To Offer Plasma-Treated Sports And Outdoor Apparel

Switzerland-based knitwear manufacturer Christian Eschler AG and Austria-based textile finisher
Grabher Group have partnered to develop new functional sports and workwear fabrics featuring
environmentally friendly Plasma Technology by Eschler.

Plasma is produced by the application of electrical fields to pure gas or gas mixtures in a
vacuum chamber. The gas becomes ionized and causes a chemical reaction to occur on the material’s
surface. Depending on the combination of gas mixture composition, frequencies and gas flow, the
fabric surface is modified to offer durable hydrophilic, hydrophobic, soil-repellent and/or other
properties.

According to Eschler, the technology offers advantages over traditional wet-processing
technologies in which additives often are coated onto the fabric and may compromise its
flexibility, strength, touch and other properties, as well as its resistance to abrasion or
washing. Wet processing also may limit the combination of properties in a fabric.

Eschler’s plasma technology uses minimal water and chemicals, is energy-efficient and is free
of fluorocarbon compounds. “The new technology allows a great eco balance that no other treatment
gets even close to,” said Markus Lutz, product manager, Eschler.

Sports apparel applications include cross-country and alpine skiing, cycling, functional
underwear, mountaineering, running, trekking and others. Eschler expects to offer the first apparel
products at retail in summer 2012.

July 13, 2010

The Rupp Report: Domestic Markets Lead The Way

In the first news from ITMA Asia CITME 2010 two weeks ago, the Rupp Report indicated some recovery
in certain markets. Since February/March 2010, the markets have been booming, especially in Asia,
and some manufacturers already have very long delivery times. China is the top country, followed by
India, Pakistan, Bangladesh and Indonesia. This is basically thanks to the soaring domestic market
in China and in other countries such as India.

But not only are Asian markets recovering; the huge domestic market of Brazil also is showing
an important upswing. Surprisingly, the exhibitors welcomed many visitors not only from Asia, but
also from Brazil.

Fall In Global Yarn And Fabric Production

However, according to the latest State of Trade Report from the International Textile
Manufacturers Federation (ITMF), Switzerland, the strong global recovery in yarn and fabric
production that was observed after the first-quarter 2009 lows came to an end in the first quarter
of 2010.

Both yarn and fabric production dropped considerably compared to the last quarter of 2009,
though levels were significantly higher than first-quarter 2009 levels. Yarn and fabric production
dropped in Asia and Europe, whereas South and North America recorded stable or higher output levels
in comparison to the previous quarter. Global yarn stocks fell slightly mainly because of lower
inventories in South America, while those in the other regions remained almost unchanged. Global
fabric stocks increased owing to higher inventories in Asia, South America and Europe. Yarn orders
increased in South America but remained unchanged in Europe, while fabric orders rose in both
regions.

Higher Yarn Production, But Lower Fabric Production

Global yarn production dropped by 12.8 percent in the first quarter of 2010 compared to the
previous quarter, mainly as a consequence of 17.3-percent-lower output in China. Europe recorded a
4.0-percent decrease, whereas North and South American production rose by 5.1 percent and 17.4
percent, respectively. Compared to first quarter 2009, all regions recorded higher production
levels. South American yarn production was particularly impressive, recording a 60.4-percent surge.
Europe, Asia and North America also reported higher output levels, at 20.1 percent, 14.6 percent
and 1.5 percent, respectively.

In contrast, first-quarter 2010 fabric production decreased by 9.7 percent, with Asia and
Europe recording 11.4-percent and 3.6-percent lower output levels, respectively. China’s fabric
production fell by 16.4 percent. The guess of the Rupp Report is that these figures reflect lower
exports to Western countries. North American production levels were stable, and South America
recorded 5.3-percent-higher output. Yet, global fabric production increased year-on-year by 8.3
percent. Only North America reported declining fabric production over the year, with a 9.2-percent
drop. Fabric production in Europe, Asia and South America was up by 20.3 percent, 8.3 percent and
2.4 percent, respectively.

Yarn And Fabric Inventories

First-quarter 2010 global yarn inventories dropped slightly, by 0.8 percent, including
respective 4.8-percent, 0.9-percent and 0.6-percent declines in South America, Europe and Asia.
Year on year, world yarn stocks were down by 7.7 percent, with respective 31.4 percent, 8.1 percent
and 4.7-percent drops in South America, Asia and Europe.

World fabric stocks rose by 3.3 percent in the first quarter of 2010, with Asia, South
America and Europe recording respective 4.4-percent, 4.0-percent and 0.8-percent increases; while
North American fabric inventories fell by 0.6 percent. On an annual basis, global fabric
inventories jumped in South America and Asia by 36.0-percent and 11.7 percent, respectively, while
North American and European inventories fell by 15.2 percent and 1.3 percent, respectively.

Europe showed unchanged first-quarter yarn orders and 1.5-percent higher fabric orders
compared with the previous quarter. Brazil’s recovery is confirmed with yarn orders rising by 7.2
percent, while fabric orders jumped by 37.3 percent. Year-on-year, yarn orders in Europe and Brazil
rose by 15.5 percent and 25.3 percent, respectively. Also, fabric orders grew in Brazil and Europe,
by 9.5 percent and 18.1 percent, respectively.

This is good news for the global textile industry. A last word from a textile producer in
Brazil during a visit last week: “I’m happy when the  soccer World Cup is over. People will
hopefully spend some money now in textiles, and not in beer and TV sets like they did in the last
weeks.”

July 13, 2010

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