ColossusTex Revolutionizes Textile Industry With Groundbreaking Launch Of Graphene Yarn At Bharat Tex 2024

FARIDABAD, India — March 4, 2024 — ColossusTex, a pioneering force in the textile supply chain, has once again demonstrated its commitment to innovation and sustainability by unveiling the revolutionary GRAPHENE YARN at Bharat Tex 2024, the premier textile industry event. With over 25 years of expertise across the textile value chain, ColossusTex continues to lead the way in addressing industry challenges and propelling businesses towards a sustainable and efficient future.

ColossusTex Team at Bharat Tex 2024

GRAPHENE YARN, the latest addition to ColossusTex’s product portfolio, boasts a myriad of benefits that set it apart from traditional yarns. With an antibacterial rate of 99%, the Graphene Yarn inhibits bacterial growth, eliminates odors, and significantly reduces the chance of skin diseases. The incorporation of far-infrared health care technology promotes microcirculation on the body surface, enhances blood circulation, and boosts cellular metabolism. Additionally, its antiviral properties showcase an impressive inactivation rate against SARS-CoV-2 (99%), H1N1 (99.99%), and HFMD (96.89%).

The Anion Generation feature of the Graphene Yarn not only purifies the skin surface but also contributes to purifying the air. UV protection ensures a shield against harmful rays, reducing the risk of skin diseases. Moreover, the anti-mites property inhibits the reproduction of mites, thereby reducing skin problems. The Graphene Yarn is available in various polymers, including Polyester Filament, Nylon Filament, and Cotton Nylon Blends, offering versatile solutions for a wide range of applications.

In addition to the groundbreaking launch of Graphene Yarn, ColossusTex introduced innovative yarns specifically designed for footwear. These new additions further showcase ColossusTex’s commitment to meeting the evolving needs of the textile industry and providing cutting-edge solutions for various applications.

Furthermore, ColossusTex unveiled three new yarns – Cotlook, Magic Sparkle, and Silkshine – aimed at reducing yarn consumption in the carpet industry. These innovations not only contribute to making businesses more sustainable but also highlight ColossusTex’s dedication to minimizing environmental impact across the textile value chain.

Mr. Rohit Dev Sethi, Managing Director, ColossusTex, expressed his enthusiasm about the latest developments, stating, “ColossusTex’s Graphene Yarn marks a significant leap in innovation and sustainability. We are thrilled to launch this groundbreaking product, a testament to our unwavering commitment to pushing boundaries. These advancements underscore our dedication to future-proofing businesses, ensuring sustainability, and delivering substantial returns on investments through tailored and groundbreaking approaches. We are grateful for the positive observations and appreciation from esteemed ministry officials, reinforcing our belief in the transformative impact of graphene technology.”

He further added, “We are very glad to receive the appreciation from Smt. Shubhra, Trade Advisor, Ministry of Textile, Shri Anil Kumar, Director, Ministry of Textile, Shri Prashant Kumar Meena, Joint Mission Director, Ministry of Textile for our new products.”

ColossusTex stands as an industry pioneer, spearheading transformative advancements within the textile sector and championing positive change. Through its innovative initiatives, the company is actively shaping a more sustainable and efficient future for the entire industry. Emphasizing cutting-edge technologies and sustainable practices, ColossusTex consistently pushes boundaries to redefine standards. Its commitment to environmental responsibility and resource efficiency not only sets a benchmark for the textile sector but also inspires others to follow suit. By combining forward-thinking strategies with a dedication to sustainability, ColossusTex remains a driving force in fostering a textile industry that aligns with the principles of environmental stewardship and progress.

Posted: March 5, 2024

Source: ColossusTex

Jones Family Of Companies Announces Growth And New Developments

HUMBOLDT, Tenn. — March 1, 2024 — The Jones Family of Companies is pleased to announce several exciting new developments in the nearly 90-year history of the company.

Third Generation Becomes Majority Stakeholder

Ralph Jones

Ralph Jones, III, CEO and chairman of the board — and the third generation of family leadership of the company — has reinvested in the company by becoming its majority shareholder.

“Jones has been in my family for nearly nine decades,” he said. “It is important not just to me but to the employees and customers of this company to show my dedication to helping our Jones Family of Companies to remain industry leaders for the next generations.”

Expansions and Acquisitions

Besides Jones’ and additional fourth-generation investments, the company made several significant expansions to its production capacity by expanding to another production location in Charlotte, N.C., and acquiring Cades Consulting, which provides mechanical and engineering consulting and maintenance services across the country for the textile industry.

“Bringing Cades on board will dramatically increase our services to the nonwovens industry,” said Ralph Jones. “We now have the ability to not only grow our own business but also provide support services to other nonwovens manufacturers across the U.S.”

Personnel Promotions

Late 2023 also brought several personnel changes. Chris Winston, former lead trainer at the Humboldt plant with 25 years of employment at Jones, was promoted to production manager at the company’s new production plant in Charlotte. Additionally, longtime employee Scott Peters was promoted to plant manager of Jones’ Rontex America plant in Amherst, N.H. Rontex is a Tier 2 and Tier 3 supplier providing sustainable, carded and needled nonwovens for a wide range of automotive applications.

“Chris and Scott represent the best of Jones,” said Scott Butler, president of Jones. “Employees like them are a rare gift: hardworking, enthusiastic about our products, and people of integrity. I look forward to their future successes in their new roles.”

Automotive Supplier

In addition, Jones is now a Tier 2 automotive supplier providing nonwovens to automotive OEMs across the country. Nonwoven textiles feature prominently in automotive manufacturing as carpeting, speaker cloth, and heat and sound insulation.

“We are excited by what is to come for Jones,” said Ralph Jones. “Our best days are ahead of us, rather than behind, and there are more good things yet to come.”

Posted: March 5, 2024

Source: Jones Family of Companies

Discover The Finest Softness Nuances Of Textiles With emtec’s Tactile Sensation Analyzer (TSA) At Techtextil Frankfurt

LEIPZIG, Germany — March 4, 2024 — The emtec TSA Tactile Sensation Analyzer determines an objective number on the way a fabric subjectively feels to the touch. Combined with the cloud-based Virtual Haptic Library, the results are automatically digitized and categorized, making them accessible and easily searchable worldwide in real time. This enables greater transparency and traceability of the supply chain, but minimizes logistical, environmental and economic costs.

TSA2

Alexander Gruener, global business development manager for emtec Electronic, gives an application example about the potential impact of the TSA Tactile Sensation Analyzer and the Virtual Haptic Library on the textile industry´s quality control: “Manufacturers of textile products can use the device to test the quality of their production on a frequent basis. The TSA test data can be transferred to the cloud automatically, if it is used together with the device. The textile producer’s customers can have access to the data at any time and in case of any quality issues – one or more of the haptic quality parameters is out of specification – the system automatically informs the customer. This creates transparency in the business relationship of textile producer and its customers and allows a quick intervention and reaction, which helps to avoid tons of waste as well as the complete failure of whole collections in the stores.”

Beside parameters as softness (coming from the fibers), smoothness (coming from the surface structure) and stretch and recovery (flexibility of the fabric), the emtec TSA objectively and reliably measures further individual components of the touch, such as thermo-haptic, friction, crumple or drape behavior. The results offer unparalleled accuracy in assessing the tactile qualities of textiles, ensuring that manufacturers can meet the highest standards of quality and comfort. Comparisons of results with traditional hand panel testing methods using “touch experts” reveal a correlation of up to 100%.

If this piqued your curiosity, visit the emtec booth F35 in hall 12.0 at Techtextil in Frankfurt/Main, Germany. Stefan Ruebesam (emtec Area Sales Manager), Eric Haagen (emtec Area Sales Manager) and Sandra Vogt (emtec Global Marketing Manager) will be on site to answer all questions, demonstrate the functions of the innovative device, and explain the advantages in combination with the virtual database!

Posted: March 5, 2024

Source: emtec Electronic GmbH

The 61st Edition Of Filo Concludes With Positive Results

BIELLA, Italy — February 29, 2024 — The 61st edition of Filo, the International Yarns and Fibres Exhibition, closed at Allianz MiCo Milan registering highly positive results.

The lively atmosphere among the booths and the areas of the Exhibition of Yarns and Fibres rewarded high-quality collections, which incorporate innovation and search for sustainability of Italian and foreign textile manufacturers.

Buyers’ flow was n particularly intense from the first day of the exhibition, as well as during the second one. Worth underlining is the growth in foreign visitors, since it strengthens a trend that has now been recorded for several editions and also affects exhibitors from abroad. Concerning buyers, the long collaboration between Filo and ITA Agency allowed to organise the visit of a delegation made up of 27 foreign professionals coming from France, Spain, Portugal, Hungary, Turkey, China, Denmark, Tunisia, South Korea. Thanks to the cooperation between Filo and the Piedmont Region, it was possible to welcome to the fair a delegation made up of 10 buyers, coming from Belgium, Finland, France, Germany, the Netherlands, Portugal, and the U.K., that participated in the fair thanks to Textile Integrated Supply Chain (PIF) Project of Piedmont Region, funded by P.R.FESR 2021-2027, carried out through the Regional Agency for Internationalisation. In addition, at the end of the exhibition, the group of buyers took part in a study tour in Biella district, to delve into the production excellence of Biella territory.

Paolo Monfermoso, responsible of Filo, said: “The 61st edition closed very positively. From the first opinions collected among the exhibitors, there’s satisfaction for the job done during the fair. Once more, Filo proved to be a unique working platform, totally reserved to the professionals belonging to the industry: textile professionals are aware of finding at Filo high-quality collections and services aiming at facilitating the collaborations and the match between demand and supply of yarns and materials. Speaking of collaborations, once again, the presence of dyeing mills, and associations and producers representing the world of natural and man-made fibres was particularly appreciated by all operators who participated in the fair, precisely because it fosters an effective dialogue among the companies working in the different steps of the supply chain which can lead to interesting product developments.”

The main topic of the 61st edition was the circularity in textile industry. The inauguration ceremony specifically dealt with this topic, starting from a concrete example: the pilot project of Recycling Hub of Biella district. Speakers of the round table were Elena Chiorino, Councillor of Education and Merit, Employment and Training of Piedmont Region, Sergio Tamborini, President of SMI -Sistema Moda Italia, Paolo Barberis Canonico, Vice-President of Unione Industriale Biellese, Marco Farina, Responsible for the Assessment and Development of the Projects of A2A Ambiente, and Giovanni Marchi, President of MagnoLab.

Paolo Monfermoso also underlined: “As President Tamborini said, the textile-apparel-fashion industry needs to face sustainability, also through the creation of an alternative supply chain committed in recycling materials. We are particularly pleased that the Recycling Hub in Biella has been introduced here, at Filo, by involving in the discussion the protagonists who contributed to design and implement the pilot project. The project involves the whole supply chain, and it lays its foundations on the collaboration between institutional and industrial players, and it is oriented to find effective solutions to the actual and urgent challenges for companies working in this sector, in line with the approach that Filo shares and promotes in all its activities.”

Filo would like to thank all exhibitors and visitors who, despite the difficult situation, have shown during the two days of fair a strong desire to give new impetus and a strong willingness to overcome any kind of problem, also geopolitical ones, through hard work.

The 62nd edition of Filo will be held on the 18th and the 19th of September 2024 at Allianz MiCo-Milan.

Posted: March 5, 2024

Source: Filo

Indorama Ventures Evolves Its Business Strategy As It Pivots Towards Structural Shifts In The Global Chemical Industry

BANGKOK, Thailand — March 4, 2024 — Indorama Ventures Public Co. Ltd., a global sustainable chemical producer, unveiled a significant evolution in its business strategy and outlined how major structural shifts are reshaping the chemical industry, creating opportunities for the company to emerge stronger from the current downturn and benefit from its unique global model in the longer term.

Aloke Lohia

Ahead of the company’s annual Capital Markets Day (CMD) in Bangkok on March 5, Aloke Lohia, Group CEO of Indorama Ventures, pointed to industry mega-trends that are forging fundamental long-term changes in global chemical markets, prompting a significant review of the company’s strategy. He described how subdued local demand in China is driving overcapacity and fueling cheap exports, while low feedstock prices in North America are adding to supply due to increased competitiveness.

At the same time, unprecedented macroeconomic and geopolitical headwinds are weighing on global consumption, impacting Indorama Ventures’ margins and volumes in FY23, and leading to a 53-percent decline in earnings. Lohia said feedstock prices in Western markets will increase over time as peak oil demand draws closer and refineries shut down, while the reverse will occur in emerging Asian markets as capacity rises, driving feedstock costs lower. Indorama Ventures’ unique integrated manufacturing model allows it to benefit from lower feedstock prices through ‘make or buy’ strategies that reduce working capital and interest costs.

At its CMD, the company will outline details of its new IVL 2.0 strategy to adapt to the unprecedented industry conditions. It will deleverage its business in a prolonged environment of higher interest rates, while right sizing its operations and optimizing competitiveness to improve shareholder returns over the next three years and emerge stronger as demand normalizes in the longer term. Indorama Ventures is accelerating the transformation programs it started in 2021, including implementing new data management tools and intelligent dashboards that allow its experienced managers to predict market changes in real time and respond to shifts more effectively.

Lohia said: “Change is a constant in our industry. We have embraced similar seismic events in our thirty-year history and emerged stronger than before. In 2023, we recognized that the ecosystem has changed, and what worked for us in the past will not work going forward. We had to devise a new strategy to operate successfully within the new ground rules, leveraging the highly successful global model we built over decades. In recent months, each of our businesses has undergone a stringent review, with detailed plans now in place to optimize our assets, processes, and our organization, and focus on enhancing earnings quality over the next three years.”

Today, Indorama Ventures has an unparalleled global footprint, with leadership in sustainable and growing markets, following a remarkable era of expansion during which it made some 50 acquisitions over 20 years to build its unique global model. Lohia expressed continued confidence in the long-term growth potential of its business, which is tied to macro-consumer trends as populations grow and modernize and demand more sustainable products that improve their lives and the environment.

Under IVL 2.0, the company will optimize its asset footprint, improve cashflow, and significantly reduce debt levels as it switches to new priorities of enhancing earnings quality and maximizing shareholder value. Measures include a $2.5 billion reduction in Net Debt to around $4.3 billion in 2026, including generating $0.8 billion in cashflow from operational improvements and a further $1.7 billion from strategic corporate actions including divestments, asset actions, and select business listings. These steps are aimed at reducing its Debt to EBITDA ratio to less than 3x.

Lohia said: “Our new strategy is a significant financial pivot. Now that we have the scale, we will leverage our global footprint and strong client relationships and optimize our costs so that we can generate enhanced long-term sustainable profit growth. We are also deleveraging our balance sheet, which will give us more flexibility to restore our company to a more sustainable growth path based on strict capital discipline and international standards of leverage.”

Four strategic objectives will underpin transformation over the next three years. First, the asset optimization program aims to increase the company’s operating rate from 74% to 89%, including moving to lower-cost facilities and right-sizing manufacturing capacity. Second, the launch of Project Olympus 2.0, the company’s cost optimization program, will build on the success of Olympus 1.0 to unlock a further $450 million run rate efficiency gains by 2026. Third, the sale of non-core assets and other value-unlocking strategies aims to generate about $1.3 billion in cash proceeds. Finally, the company is leveraging its leadership in sustainability innovation to drive a $350 million per year value uplift.

Integrated Oxides and Derivatives (IOD), the newest of Indorama Ventures’ three business segments, will be renamed ‘Indovinya’ as management focuses its Downstream portfolio in high-potential markets including Home & Personal Care, Crop Solutions, Coatings & Solutions, and Energy & Resources. As part of the action, the segment’s Intermediate Chemicals assets, comprising integrated PEO, integrated EG and MTBE, will move to Indorama Ventures’ Combined PET (CPET) segment. This will further optimize and strengthen CPET’s integrated offering.

These bold measures build on the company’s far-reaching transformation programs already in place since 2021, as well as the strident steps taken in 2023 to improve competitiveness and generate operating cash flow. During the year, Project Olympus 1.0 drove $527 million in run rate efficiency gains by 2023. From 1Q24, the completed rollout of the SAP S/4HANA enterprise system will unlock further value as the spine of the company’s digital transformation strategy. As part of its asset optimization program, in Q423 the company undertook a $308 million non-cash impairment of its partly completed PTA-PET plant in Corpus Christi, Texas, which is on hold while the joint venture partners reassess its future. Indorama Ventures’ succession planning program has identified a next generation of managers as its three business segments work towards becoming increasingly independent operations.

Posted: March 5, 2024

Source: Indorama Ventures Public Company Limited

INDA’s 2024 Board Of Directors Welcomes Five New Members

CARY, N.C. — March 4, 2024 — INDA, the Association of the Nonwoven Fabrics Industry, announced the election of five new members to serve on its 2024 board of directors. The board of directors play a key role in advancing INDA’s strategic objectives, actively supporting both the industry and the membership. Their primary responsibility lies in ensuring that INDA remains responsive to the evolving needs of its members and the broader nonwovens industry, guiding the formulation of policies and programs.

“I am pleased to welcome five industry leaders whose strong skills, experience, and insights will greatly benefit INDA,” remarked Tony Fragnito, president of INDA. “Leveraging their collective knowledge, INDA will continue as the destination for industry and technical expertise, workforce development solutions, market intelligence, and sustainability insights within the nonwovens sector.”

The five new Board members include:

Jaren J. Edwards, President, Stein Fibers

Jaren Edwards graduated Summa Cum Laude from NC State University with a degree in Textile Engineering. Following graduation, he began his career at Stein Fibers as a sales representative. In 2009, Edwards was promoted to Vice President of Sales and responsible for leading the domestic and international sales team. During this leadership tenure, he moved the sales organization from a traditional sales mentality to a progressive business development and profit generation focus. In 2021, Edwards was promoted to President of Stein Fibers to begin leading a defined 5-year growth strategy for the organization.

Edward McNally, Sales Director Nonwovens, Oerlikon Nonwoven

Edward NcNally began his career with ITT Federal Systems, Vandenberg AFB, CA as a Range Safety Engineer assigned to the Minuteman and MX Missile Systems Group. He was then recruited by Raytheon Missiles System Division, Mass., as a Design Engineer for the PATRIOT missile defense system, spending several years in Japan as a technical liaison between Raytheon and the Japan Defense Agency. McNally then returned to the States to join Johnson Yokogawa as a Controls System Engineer. He left the defense business to enter the Nonwovens world by joining a small startup company, J and M Laboratories, Ga. Initially a Sales Engineer for the U.S., Mr. McNally went on to gain responsibility for sales of J and M’s Meltblown, Spunbond and SMS equipment provisions globally. As Sales Director Nonwoven at Oerlikon Nonwoven (Germany), he continues to be responsible for these activities today.

McNally earned his Bachelor of Science degree in Electrical Engineering Technology from DeVry Institute of Technology in Dallas. He went on to earn his MBA, with the emphasis on International Business, from Regis University in Denver, Colo.

Thomas Olsen, Senior Vice President, Americas Business Area, Suominen

Thomas Olsen is currently senior vice president, Americas Business Area at Suominen. Prior to joining Suominen, he was vice president, Healthcare Sales, Transcendia; senior director, Healthcare and Specialties Sales, Berry Global Inc.; and sales manager, Eli Lilly & Company – Pharmaceuticals.

Patricia A Sargeant, Vice President, Glatfelter Corp.

Patricia A. Sargeant has more than 20 years of technical and global commercial experience within the paper machine manufacturing industry and currently holds the position of vice president, Global Sales and Customer Service at Glatfelter. She is also a member of the senior executive team. During her tenure at Glatfelter, Sargeant has partnered with the Innovation, Sales and Operations teams to develop and successfully execute a comprehensive new business development strategy. In addition to identifying and cultivating new strategic sales opportunities, she has provided leadership for key strategic negotiations, as well as oversight to the Airlaid Materials’ marketing and global product management capabilities. Sargeant has led a high performing commercial team that forges strong customer relationships and delivers world-class customer service around the globe. Sargeant is excited to join the board to serve and further advance industry interests in partnership with this important organization.

Sargeant earned a Bachelor of Applied Science degree in Mechanical Engineering, a Business Management Certification from the University of Ottawa (Canada) and completed the international executive education program at the INSEAD Business School in Fontainebleau, France. She is a native of Canada and has lived across the globe in the U.S, and Europe. Sargeant is conversant in French and English.

Paul Wood, President, Ontex North America

Paul Wood joined the executive committee of Ontex in the new role of president North America, on April 1, 2023. Wood brings a vast experience in general management and commercial leadership, having worked for several large fast-moving consumer goods companies including Frito Lay, Heinz, Samsung and most recently as the chief commercial officer for Church & Dwight. He has an intimate knowledge of the U.S. marketplace including consumer trends, retailer insights and emerging go-to-market strategies, all of which are key to unlocking growth potential in North America. Wood received his undergraduate degree from the University of Texas and a master’s degree from Webster University.

INDA’s Board of Directors

The Board is comprised of elected Board Officers. One-third of the entire Board is elected each year for a three-year term by INDA’s general membership. INDA’s Executive Committee, empowered to act on behalf of the Board between meetings, consists of the Board Officers plus appointees.

The Executive Committee includes these officers and appointees:

  • Chair: Mark Thornton, Vice President, The Procter & Gamble Company
  • Vice Chair: Barbara Lawless, VP of Sales and Marketing – Medical Products, Precision Fabrics Group, Inc.
  • Past Chair: Bryan Haynes, Senior Technical Director for Global Nonwovens, Kimberly-Clark Corporation
  • Appointee: Mike Clark, President, Filtration Solutions, Hollingsworth & Vose Company
  • Appointee: Jodi Russell, Vice President R&D, Cleaning Innovation, Packaging & Sustainability, The Clorox Company
  • Appointee: Jeff Stafford, Vice President of Nonwovens, Milliken & Company
  • Appointee: Robert Weilminster, EVP & General Manager, US & Canada – Health, Hygiene and Specialties Division, Berry Global
  • Appointee: Tom Zaiser, CEO, Indorama Ventures

Posted: March 5, 2024

Source: INDA, the Association of the Nonwoven Fabrics Industry

ARKEMA Will Be Attending This Year’s JEC Edition With A Unique Portfolio Of Materials For Composites

COLOMBES, France — February 29, 2024 — Through its Resins, Additives and Adhesives, Arkema offers higher performance and more sustainable solutions to meet the demands of the Composites market.

PI ADVANCED MATERIALS SHOWCASES FOR THE 1ST TIME WITH ARKEMA
After Arkema acquired a majority stake in PI Advanced Materials in South Korea, the two companies will be showcasing polyimide films that are able to withstand extreme temperatures while preserving dimensional stability, offering excellent electrical properties and flexibility.

PI Advanced Materials is a prominent supplier of various types of polyimide films for diverse applications, particularly those suitable for the consolidation or curing of high-temperature thermoset and thermoplastic composites, spanning a wide range of thicknesses.

PI films are used in various industries, including smart devices, electric vehicles, semiconductors, displays, aerospace, and industrial applications.

SMART ADHESIVES – Bostik will reveal its adhesive solutions to bond and repair composite parts, with a focus on its structural adhesives MMA SAF&FIT and Pliogrip™ range of 2Kpolyurethane and epoxy structural adhesives, Born2Bond™ Instant Adhesives, and SMP sealants. Bostik will also present its low-profile additives (LPA) to improve the intrinsic properties of composite materials, such as their chemical, thermal and mechanical resistance in Sheet Molding and Bulk Molding Compound (SMC, BMC).

UNLEASHING THE FUTURE WITH ARKEMA’S UDX® TAPES – Arkema is proud to present a range of semi-finished composite products under the UDX® brand. These products take the form of unidirectional carbon fiber tapes, each impregnated with high-performance thermoplastic polymers.

Major on-going developments with UDX tapes are high pressures vessels for hydrogen and high-performance sports equipment’s.

BEYOND UDX TAPES: FABRICS AND CHIPS – We also offer other semi-finished products based on UDX tapes, such as fabrics and chips, for specific applications. Additionally, scraps from traditional UD tape processing can be chipped and recycled for other highly demanding applications.

REINFORCE SYSTEM TOUGHNESS – New Clearstrength® MBS core-shell toughening agents offer extensive formulation versatility. Clearstrength® E980 has improved dispersion properties while high-performance Clearstrength® XT152 is designed for lower polarity (meth)acrylic monomers and hydrophobic resins.

LOWER VOCS – Sartomer® reactive diluents, crosslinkers and binders reduce VOCs and improve mechanical properties in thermoset, thermoplastic and bio composites. The offering includes bio-based options with more than 25% bio-content.

THE INTELLIGENT COMPOSITES OF TOMORROW – Compared to standard piezoelectric ceramics, sensors based on Piezotech® can be mounted on curved surfaces because they are flexible. Also, due to their polymeric nature, they can be integrated into the core of composite like tanks and can be printed on large surfaces. The absence of toxic and non-recyclable heavy metals, their light weight and low energy consumption make them the materials of choice.

PARTNERSHIP – Arkema is partnering with WW technologies, a technology licensing company, and MultiMaterial-Welding, licensor of Woodwelding® technology, to provide an innovative fixation technique based on Rilsan® Polyamide 11. WW technologies offers efficient, cost-effective, and sustainable fixation solutions using ultrasonic energy to create bonds in porous materials such as sandwich panels, non-compatible polymers or foams.  MultiMaterial-Welding is an expert in fastener technology logistics. Rilsan® Polyamide 11, which is 100% bio-based, is being offered as the next generation fastening technology due to its exceptional mechanical properties, versatility in various designs and substrates, and excellent applicative performance.

Building on its unique set of expertise in materials science, Arkema offers a portfolio of first-class technologies to address ever-growing demand for new and sustainable materials. With the ambition to become in 2024 a pure player in Specialty Materials, the Group is structured into 3 complementary, resilient and highly innovative segments dedicated to Specialty Materials – Adhesive Solutions, Advanced Materials, and Coating Solutions – accounting for some 91% of Group sales in 2022, and a well-positioned and competitive Intermediates segment. Arkema offers cutting-edge technological solutions to meet the challenges of, among other things, new energies, access to water, recycling, urbanization and mobility, and fosters a permanent dialogue with all its stakeholders. The Group reported sales of around € 11.5 billion in 2022, and operates in some 55 countries with 21,100 employees worldwide.

Posted: March 2, 2024

Source: ARKEMA

Manufacturing PMI® At 47.8 Percent; February 2024 Manufacturing ISM® Report On Business®

TEMPE, Ariz. — March 1, 2024 — Economic activity in the manufacturing sector contracted in February for the 16th consecutive month following one month of “unchanged” status (a PMI® reading of 50 percent) and 28 months of growth prior to that, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

The report was issued today by Timothy R. Fiore, CPSM, C.P.M., chair of the Institute for Supply Management® (ISM) Manufacturing Business Survey Committee:

“The Manufacturing PMI registered 47.8 percent in February, down 1.3 percentage points from the 49.1 percent recorded in January. The overall economy continued in expansion for the 46th month after one month of contraction in April 2020. (A Manufacturing PMI above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy.) The New Orders Index moved back into contraction territory at 49.2 percent, 3.3 percentage points lower than the 52.5 percent recorded in January. The February reading of the Production Index (48.4 percent) is 2 percentage points lower than January’s figure of 50.4 percent. The Prices Index registered 52.5 percent, down 0.4 percentage point compared to the reading of 52.9 percent in January. The Backlog of Orders Index registered 46.3 percent, 1.6 percentage points higher than the 44.7 percent recorded in January. The Employment Index registered 45.9 percent, down 1.2 percentage points from January’s figure of 47.1 percent.

“The Supplier Deliveries Index figure of 50.1 percent is 1 percentage point higher than the 49.1 percent recorded in January. (Supplier Deliveries is the only ISM® Report On Business® index that is inversed; a reading of above 50 percent indicates slower deliveries, which is typical as the economy improves and customer demand increases.) The Inventories Index decreased 0.9 percentage point to 45.3 percent from January’s reading of 46.2 percent.

“The New Export Orders Index reading of 51.6 percent is 6.4 percentage points higher than January’s figure of 45.2 percent. The Imports Index continued in expansion territory, registering 53 percent, 2.9 percentage points higher than the 50.1 percent reported in January. Both indexes reported their highest readings since July 2022, when the New Export Orders Index registered 52.6 percent and the Imports Index 54.4 percent.”

Fiore continues, “The U.S. manufacturing sector continued to contract (and at a faster rate compared to January), with demand slowing, output easing and inputs remaining accommodative. Demand moderated, with the (1) New Orders Index back in contraction as seasonal headwinds were too strong to overcome, (2) New Export Orders Index returned to expansion and (3) Backlog of Orders Index improving but still in moderate contraction territory. The Customers’ Inventories Index contracted for the third consecutive month, remaining accommodative for future production. Output (measured by the Production and Employment indexes) dropped, with a combined 3.2-percentage point downward impact on the Manufacturing PMI® calculation. Panelists’ companies maintained their production levels month over month, but that growth could not outpace seasonal factors. Head-count reductions continued in February, with notable layoff activity noted. Inputs — defined as supplier deliveries, inventories, prices and imports — continued to accommodate future demand growth but again showed signs of stiffening. The Supplier Deliveries Index improved again, moving into ‘slower’ territory, and the Inventories Index slid back due to inability for growth consistent with seasonal factors, remaining in moderate contraction territory. The Prices Index remained in moderate expansion (or ‘increasing’) territory as commodity driven costs continue to oscillate.

“Of the six biggest manufacturing industries, three (Fabricated Metal Products; Chemical Products; and Transportation Equipment) registered growth in February. The first two are “foundational” industries, meaning those that provide products and components for other manufacturing industries.

“Demand is at the early stages of recovery, and production execution is relatively stable compared to January, as panelists’ companies begin to prepare for expansion. Suppliers continue to have capacity but are showing signs of struggling, due in part to their raw material supply chains. Forty percent of manufacturing gross domestic product (GDP) contracted in February, down from 62 percent in January. More importantly, the share of sector GDP registering a composite PMI® calculation at or below 45 percent — a good barometer of overall manufacturing weakness — was 1 percent in February, compared to 27 percent in January and 48 percent in December. Among the top six industries by contribution to manufacturing GDP in February, none had a PMI at or below 45 percent, compared to two in the previous month,” says Fiore.

The eight manufacturing industries reporting growth in February — in order — are: Apparel, Leather & Allied Products; Nonmetallic Mineral Products; Primary Metals; Plastics & Rubber Products; Fabricated Metal Products; Chemical Products; Miscellaneous Manufacturing; and Transportation Equipment. The seven industries reporting contraction in February — in the following order — are: Furniture & Related Products; Machinery; Wood Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Paper Products; and Electrical Equipment, Appliances & Components.

What Respondents Are Saying

“Currently seeing increasing sales in our business. Most delivery dates are in the second quarter of 2024.” [Chemical Products]

“The first quarter will be slower due to some customer order changes, but we are expecting the rest of 2024 to be strong. We may increase our growth projections.” [Transportation Equipment]

“Typical first quarter volume drops from fourth quarter high volumes. Additional distribution has allowed us to maintain consistent production shifts.” [Food, Beverage & Tobacco Products]

“Customer softness continues in China, Japan and Europe.” [Computer & Electronic Products]

“Demand has finally picked up, with customer orders more closely resembling typical January and February levels. January was up 22 percent compared to December; February up 26 percent compared to January.” [Machinery]

“Customer orders are steady, neither up nor down compared to last month. This steady state is what we budgeted and forecast. We are forecasting business to increase 2 percent to 4 percent over the next couple of months.” [Fabricated Metal Products]

“Business outlook overall is stable. Working through customer backlog with some raw material lead times improving.” [Miscellaneous Manufacturing]

“We reflected on 2023 for maybe a minute and turned the page forward to 2024. Weather in January caused several operations to be idle, and shipments were affected.” [Nonmetallic Mineral Products]

“The month seems to be getting stronger with each passing day and week. Lots of market volatility —pricing flat to downward. It will be interesting to see how the last days of the month play out, as indications seem to be all over the place.” [Primary Metals]

“We are experiencing increased sales, which is putting pressure on the plant and assembly to meet new customer demand.” [Electrical Equipment, Appliances & Components]

MANUFACTURING AT A GLANCE
February 2024
Index Series
IndexFeb
Series
IndexJan
Percentage

Point

Change

Direction Rate of
Change
Trend*
(Months)
Manufacturing PMI® 47.8 49.1 -1.3 Contracting Faster 16
New Orders 49.2 52.5 -3.3 Contracting From Growing 1
Production 48.4 50.4 -2.0 Contracting From Growing 1
Employment 45.9 47.1 -1.2 Contracting Faster 5
Supplier Deliveries 50.1 49.1 +1.0 Slowing From Faster 1
Inventories 45.3 46.2 -0.9 Contracting Faster 13
Customers’ Inventories 45.8 43.7 +2.1 Too Low Slower 3
Prices 52.5 52.9 -0.4 Increasing Slower 2
Backlog of Orders 46.3 44.7 +1.6 Contracting Slower 17
New Export Orders 51.6 45.2 +6.4 Growing From Contracting 1
Imports 53.0 50.1 +2.9 Growing Faster 2
OVERALL ECONOMY Growing Slower 46
Manufacturing Sector Contracting Faster 16

Manufacturing ISM® Report On Business® data is seasonally adjusted for the New Orders, Production, Employment and Inventories indexes.
*Number of months moving in current direction.

Commodities Reported Up/Down In Price And In Short Supply

Commodities Up in Price
Aluminum* (3); Electrical Components; Maintenance, Repair, and Operations (MRO) Supplies; Ocean Freight (2); Plastic Resins (2); Polyethylene; Polypropylene (5); Steel (8); Steel — Carbon (2); Steel — Hot Rolled (4); and Steel Products (3).

Commodities Down in Price
Aluminum* (9); Corrugated Boxes (7); Natural Gas (3); Packaging Materials (3); Pallets; Steel; and Steel Products.

Commodities in Short Supply
Coatings and Adhesives; Electrical Equipment; Electrical Components (41); Electronic Assemblies; and Electronic Components (39).

Note: The number of consecutive months the commodity is listed is indicated after each item.
*Indicates both up and down in price.

February 2024 Manufacturing Index Summaries

Manufacturing PMI®
The U.S. manufacturing sector contracted in February, as the Manufacturing PMI registered 47.8 percent, down 1.3 percentage points compared to January’s reading of 49.1 percent. “This is the 16th consecutive month of contraction. Four out of five subindexes that directly factor into the Manufacturing PMI are in contraction territory, up from three in January. The New Orders Index dropped back into contraction territory after one month in expansion. Of the six biggest manufacturing industries, three (Fabricated Metal Products; Chemical Products; and Transportation Equipment) registered growth in February,” says Fiore. A reading above 50 percent indicates that the manufacturing sector is generally expanding; below 50 percent indicates that it is generally contracting.

A Manufacturing PMI above 42.5 percent, over a period of time, generally indicates an expansion of the overall economy. Therefore, the February Manufacturing PMI indicates the overall economy grew for the 46th straight month after one month of contraction (April 2020). “The past relationship between the Manufacturing PMI and the overall economy indicates that the February reading (47.8 percent) corresponds to a change of plus-1.5 percent in real gross domestic product (GDP) on an annualized basis,” says Fiore.

The Last 12 Months

Month Manufacturing
PMI®
Month Manufacturing
PMI®
Feb 2024 47.8 Aug 2023 47.6
Jan 2024 49.1 Jul 2023 46.5
Dec 2023 47.1 Jun 2023 46.4
Nov 2023 46.6 May 2023 46.6
Oct 2023 46.9 Apr 2023 47.0
Sep 2023 48.6 Mar 2023 46.5
Average for 12 months – 47.2

High – 49.1

Low – 46.4

 

New Orders
ISM’s New Orders Index contracted for the 18th time in 20 months in February, registering 49.2 percent, a decrease of 3.3 percentage points compared to January’s reading of 52.5 percent. The New Orders Index contracted in July 2022, registered 50.1 percent in August 2022 and had been in contraction until January. “Of the six largest manufacturing sectors, four (Fabricated Metal Products; Chemical Products; Transportation Equipment; and Computer & Electronic Products) reported increased new orders. Panelists’ comments reflected sentiment about improving demand, a trend that began in December 2023. Indications of order softness were at the lowest level since April 2023,” says Fiore. A New Orders Index above 52.3 percent, over time, is generally consistent with an increase in the Census Bureau’s series on manufacturing orders (in constant 2000 dollars).

The 11 manufacturing industries that reported growth in new orders in February — in the following order — are: Apparel, Leather & Allied Products; Paper Products; Plastics & Rubber Products; Wood Products; Fabricated Metal Products; Chemical Products; Primary Metals; Transportation Equipment; Electrical Equipment, Appliances & Components; Miscellaneous Manufacturing; and Computer & Electronic Products. The four industries reporting a decline in new orders in February are: Furniture & Related Products; Textile Mills; Food, Beverage & Tobacco Products; and Machinery.

New Orders %Higher %Same %Lower Net Index
Feb 2024 24.4 58.2 17.4 +7.0 49.2
Jan 2024 20.2 56.3 23.5 -3.3 52.5
Dec 2023 15.5 57.5 27.0 -11.5 47.0
Nov 2023 19.5 53.0 27.5 -8.0 47.8

 

Production
The Production Index moved back into contraction territory in February, registering 48.4 percent, 2 percentage points lower than the January reading of 50.4 percent. The Production Index has been in contraction in 11 of the last 15 months. Of the six largest manufacturing sectors, two (Fabricated Metal Products; and Chemical Products) reported increased production. More importantly, both of those industries are “foundational,” providing products across the manufacturing sector. “Panelists’ companies essentially maintained output levels from January, but due to seasonality adjustments, expansion wasn’t fast enough to avoid a subindex reading in contraction territory. Overall, production rates have been essentially stable since July 2023, with slight month-over-month declines consistent with reductions in demand and backlog,” says Fiore. An index above 52.2 percent, over time, is generally consistent with an increase in the Federal Reserve Board’s Industrial Production figures.

The seven industries reporting growth in production during the month of February, in order, are: Paper Products; Nonmetallic Mineral Products; Plastics & Rubber Products; Miscellaneous Manufacturing; Primary Metals; Fabricated Metal Products; and Chemical Products. The five industries reporting a decrease in production in February are: Wood Products; Furniture & Related Products; Machinery; Electrical Equipment, Appliances & Components; and Food, Beverage & Tobacco Products. Six industries reported no change in production in February compared to January.

Production %Higher %Same %Lower Net Index
Feb 2024 18.0 64.8 17.2 +0.8 48.4
Jan 2024 18.4 57.8 23.8 -5.4 50.4
Dec 2023 15.5 61.5 23.0 -7.5 49.9
Nov 2023 18.4 62.1 19.5 -1.1 48.8

 

Employment
ISM’s Employment Index registered 45.9 percent in February, 1.2 percentage points lower than the January reading of 47.1 percent. “The index indicated employment contracted for the fifth month in a row (and at a faster rate in February) after one month of expansion and three months of contraction before that. Of the six big manufacturing sectors, only Transportation Equipment expanded employment in February. Many Business Survey Committee respondents’ companies are continuing to reduce head counts using layoffs (which account for 50 percent of reduction activity), attrition and hiring freezes. Panelists’ comments in February were equally split between their companies adding and reducing head counts. This approximately 1-to-1 ratio has been consistent since October 2023,” says Fiore. An Employment Index above 50.3 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) data on manufacturing employment.

Of 18 manufacturing industries, four reported employment growth in February: Nonmetallic Mineral Products; Electrical Equipment, Appliances & Components; Primary Metals; and Transportation Equipment. The 10 industries reporting a decrease in employment in February, in the following order, are: Plastics & Rubber Products; Paper Products; Wood Products; Computer & Electronic Products; Furniture & Related Products; Miscellaneous Manufacturing; Food, Beverage & Tobacco Products; Machinery; Fabricated Metal Products; and Chemical Products.

Employment %Higher %Same %Lower Net Index
Feb 2024 10.9 70.5 18.6 -7.7 45.9
Jan 2024 11.0 70.6 18.4 -7.4 47.1
Dec 2023 11.7 70.3 18.0 -6.3 47.5
Nov 2023 9.3 71.3 19.4 -10.1 46.1

 

Supplier Deliveries†
Delivery performance of suppliers to manufacturing organizations was slower in February after 16 straight months in “faster” territory for the Supplier Deliveries Index, which registered 50.1 percent, 1 percentage point higher than the 49.1 percent reported in January. After a reading of 52.4 percent in September 2022, the index went into contraction territory in October and had been there until February. “Panelists’ comments continue to indicate that suppliers’ performance is improving; delivery promises appear to be more stable as inputs transition to a more demand-driven environment. For the second month, supplier responsiveness appears to be ‘stiffer,’ meaning some suppliers are struggling to keep up,” says Fiore. A reading below 50 percent indicates faster deliveries, while a reading above 50 percent indicates slower deliveries.

The four manufacturing industries reporting slower supplier deliveries in February are: Plastics & Rubber Products; Chemical Products; Electrical Equipment, Appliances & Components; and Transportation Equipment. The five industries reporting faster supplier deliveries in February are: Paper Products; Machinery; Food, Beverage & Tobacco Products; Fabricated Metal Products; and Computer & Electronic Products. Nine industries reported no change in delivery performance in February compared to January.

 

Supplier Deliveries

 

%Slower

 

%Same

 

%Faster

 

Net

 

Index

Feb 2024 8.9 82.4 8.7 +0.2 50.1
Jan 2024 9.7 78.7 11.6 -1.9 49.1
Dec 2023 5.2 83.5 11.3 -6.1 47.0
Nov 2023 6.3 79.7 14.0 -7.7 46.2

 

Inventories
The Inventories Index registered 45.3 percent in February, 0.9 percentage point lower than the 46.2 percent reported in January. “Manufacturing inventories contracted at a slightly faster rate compared to the previous month. Of the six big industries, two (Food, Beverage & Tobacco Products; and Fabricated Metal Products) increased manufacturing inventories in February. Overall, panelists’ companies are indicating a willingness to invest in manufacturing inventory to improve on-time deliveries, gain precision in revenue projections and improve customer satisfaction. Something to watch in the coming months: Supply chains catching up to growing demand is a scenario that typically results in manufacturing inventories expanding,” says Fiore. An Inventories Index greater than 44.4 percent, over time, is generally consistent with expansion in the Bureau of Economic Analysis (BEA) figures on overall manufacturing inventories (in chained 2000 dollars).

Of 18 manufacturing industries, six reported higher inventories in February, in the following order: Textile Mills; Nonmetallic Mineral Products; Miscellaneous Manufacturing; Primary Metals; Food, Beverage & Tobacco Products; and Fabricated Metal Products. The seven industries reporting lower inventories in February — in the following order — are: Electrical Equipment, Appliances & Components; Paper Products; Chemical Products; Computer & Electronic Products; Plastics & Rubber Products; Transportation Equipment; and Machinery.

Inventories %Higher %Same %Lower Net Index
Feb 2024 12.7 70.4 16.9 -4.2 45.3
Jan 2024 14.0 63.8 22.2 -8.2 46.2
Dec 2023 11.1 62.8 26.1 -15.0 43.9
Nov 2023 13.8 59.7 26.5 -12.7 44.3

 

Customers’ Inventories†
ISM’s Customers’ Inventories Index registered 45.8 percent in February, up 2.1 percentage points compared to the 43.7 percent reported in January. “Customers’ inventory levels decreased at a slower rate in February, with the index moving up but still in ‘too low’ territory. Panelists report their companies’ customers continue to have a shortage of their products in inventory, which is considered positive for future new orders and production,” says Fiore.

The three industries reporting customers’ inventories as too high in February are: Computer & Electronic Products; Food, Beverage & Tobacco Products; and Plastics & Rubber Products. The nine industries reporting customers’ inventories as too low in February, in order, are: Paper Products; Wood Products; Chemical Products; Primary Metals; Machinery; Fabricated Metal Products; Transportation Equipment; Electrical Equipment, Appliances & Components; and Miscellaneous Manufacturing.

Customers’
Inventories
%
Reporting
%Too
High
%About
Right
%Too
Low
 

Net

 

Index

Feb 2024 77 10.9 69.7 19.4 -8.5 45.8
Jan 2024 75 10.2 66.9 22.9 -12.7 43.7
Dec 2023 79 13.5 69.2 17.3 -3.8 48.1
Nov 2023 76 16.3 69.0 14.7 +1.6 50.8

 

Prices†
The ISM Prices Index registered 52.5 percent, 0.4 percentage point lower compared to the January reading of 52.9 percent, indicating raw materials prices increased in February for the second month in a row after eight consecutive months of decreases. Of the six largest manufacturing industries, three — Transportation Equipment; Chemical Products; and Computer & Electronic Products — reported price increases in February. “The Prices Index indicated moderate expansion in the second month of 2024 as new pricing agreements are implemented at panelists’ companies and commodity prices continue to be volatile. Steel, plastics, cement and aluminum all contributed to price growth in February. Eighteen percent of companies reported higher prices, compared to 20 percent in January,” says Fiore. A Prices Index above 52.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Producer Price Index for Intermediate Materials.

In February, the 11 industries that reported paying increased prices for raw materials, in order, are: Textile Mills; Printing & Related Support Activities; Plastics & Rubber Products; Miscellaneous Manufacturing; Furniture & Related Products; Paper Products; Nonmetallic Mineral Products; Transportation Equipment; Chemical Products; Computer & Electronic Products; and Electrical Equipment, Appliances & Components. The four industries reporting paying decreased prices for raw materials in February are: Primary Metals; Petroleum & Coal Products; Machinery; and Fabricated Metal Products.

 

Prices

%Higher %Same %Lower Net Index
Feb 2024 18.3 68.3 13.4 +4.9 52.5
Jan 2024 19.5 66.7 13.8 +5.7 52.9
Dec 2023 14.2 61.9 23.9 -9.7 45.2
Nov 2023 16.0 67.7 16.3 -0.3 49.9

 

Backlog of Orders†
ISM’s Backlog of Orders Index registered 46.3 percent, a 1.6-percentage point increase compared to January’s reading of 44.7 percent, indicating order backlogs contracted for the 17th consecutive month after a 27-month period of expansion. Of the six largest manufacturing industries, only Fabricated Metal Products expanded order backlogs in February. “The index remains in contraction, though at a slightly slower rate in February, as production rates and new order levels continue to have a negative effect on backlogs,” says Fiore.

Of 18 manufacturing industries, the five that reported growth in order backlogs in February are: Plastics & Rubber Products; Paper Products; Primary Metals; Electrical Equipment, Appliances & Components; and Fabricated Metal Products. The eight industries reporting lower backlogs in February — in the following order — are: Textile Mills; Furniture & Related Products; Computer & Electronic Products; Food, Beverage & Tobacco Products; Machinery; Miscellaneous Manufacturing; Transportation Equipment; and Chemical Products.

Backlog of
Orders
%
Reporting
 

%Higher

 

%Same

 

%Lower

 

Net

 

Index

Feb 2024 93 14.9 62.8 22.3 -7.4 46.3
Jan 2024 91 17.5 54.4 28.1 -10.6 44.7
Dec 2023 89 16.7 57.1 26.2 -9.5 45.3
Nov 2023 91 9.3 60.0 30.7 -21.4 39.3

 

New Export Orders†
ISM’s New Export Orders Index registered 51.6 percent in February, 6.4 percentage points higher than the January reading of 45.2 percent. This is the index’s highest reading since July 2022 (52.6 percent). “The New Export Orders Index reading indicates that export orders expanded in February after eight consecutive months of contraction. Panelists’ comments supported improvement in order activity from China and the European region,” says Fiore.

The six industries reporting growth in new export orders in February — in the following order — are: Wood Products; Nonmetallic Mineral Products; Fabricated Metal Products; Transportation Equipment; Food, Beverage & Tobacco Products; and Machinery. The six industries reporting a decrease in new export orders in February — in the following order — are: Textile Mills; Paper Products; Plastics & Rubber Products; Miscellaneous Manufacturing; Electrical Equipment, Appliances & Components; and Chemical Products.

New Export
Orders
%
Reporting
 

%Higher

 

%Same

 

%Lower

 

Net

 

Index

Feb 2024 71 12.0 79.2 8.8 +3.2 51.6
Jan 2024 73 8.4 73.5 18.1 -9.7 45.2
Dec 2023 73 10.2 79.4 10.4 -0.2 49.9
Nov 2023 71 7.7 76.6 15.7 -8.0 46.0

 

Imports†
ISM’s Imports Index registered 53 percent in February, an increase of 2.9 percentage points compared to January’s figure of 50.1 percent and its highest level since a reading of 54.4 percent in July 2022. “Imports grew for the second consecutive month in February after contracting for 14 consecutive months. Lunar New Year pre-shipments contributed to the month-over-month increase in import activity. Panelists continued to note rising ocean freight costs and extended trans-Suez lead times as a result of Red Sea disruptions,” says Fiore.

The nine industries reporting an increase in import volumes in February — listed in the following order — are: Wood Products; Printing & Related Support Activities; Transportation Equipment; Chemical Products; Fabricated Metal Products; Miscellaneous Manufacturing; Machinery; Computer & Electronic Products; and Food, Beverage & Tobacco Products. The five industries that reported lower volumes of imports in February are: Nonmetallic Mineral Products; Furniture & Related Products; Primary Metals; Electrical Equipment, Appliances & Components; and Plastics & Rubber Products.

Imports %
Reporting
 

%Higher

 

%Same

 

%Lower

 

Net

 

Index

Feb 2024 83 14.0 77.9 8.1 +5.9 53.0
Jan 2024 83 11.9 76.3 11.8 +0.1 50.1
Dec 2023 82 7.3 78.1 14.6 -7.3 46.4
Nov 2023 83 8.2 76.0 15.8 -7.6 46.2

†The Supplier Deliveries, Customers’ Inventories, Prices, Backlog of Orders, New Export Orders, and Imports indexes do not meet the accepted criteria for seasonal adjustments.

Buying Policy
The average commitment lead time for Capital Expenditures in February was 177 days, an increase of five days compared to January. Average lead time in February for Production Materials was 80 days, a decrease of three days. Average lead time for Maintenance, Repair and Operating (MRO) Supplies was 43 days, the same figure reported in January.

Percent Reporting
Capital
Expenditures
Hand-to-
Mouth
30 Days 60 Days 90 Days 6 Months 1 Year+ Average
Days
Feb 2024 14 5 7 14 32 28 177
Jan 2024 16 5 9 13 29 28 172
Dec 2023 15 4 8 16 29 28 174
Nov 2023 14 3 9 14 32 28 178
Percent Reporting
Production
Materials
Hand-to-
Mouth
30 Days 60 Days 90 Days 6 Months 1 Year+ Average
Days
Feb 2024 9 25 26 25 11 4 80
Jan 2024 8 23 30 24 10 5 83
Dec 2023 6 27 28 25 9 5 82
Nov 2023 8 24 29 26 9 4 79

 

Percent Reporting
MRO Supplies Hand-to-
Mouth
30 Days 60 Days 90 Days 6 Months 1 Year+ Average
Days
Feb 2024 29 36 19 11 5 0 43
Jan 2024 29 37 16 13 5 0 43
Dec 2023 29 36 18 11 5 1 46
Nov 2023 29 35 21 10 5 0 43

Posted: March 2, 2024

Source: Institute for Supply Management

UNIFI®, Makers Of REPREVE®, Commits To Transforming The Equivalent Of 1.5 Billion T-Shirts Worth Of Textile And Yarn Waste By FY2030 In New Sustainability Snapshot

GREENSBORO, N.C. — February 28, 2024 — UNIFI Inc. (together with its consolidated subsidiaries, UNIFI), maker of REPREVE, today released its Sustainability Snapshot for FY2023. The snapshot shares impactful updates on UNIFI’s innovative sustainability mission, waste reduction achievements, and future goals. With its release, UNIFI debuted its pioneering T-shirt equivalent metric and set an ambitious textile-to-textile recycling target to transform the equivalent of 1.5 billion T-shirts worth of textile and yarn waste into new products by FY2030.

“Our fourth annual sustainability publication showcases UNIFI’s continuous progress and ongoing commitment to setting and exceeding new sustainability goals,” said Eddie Ingle, CEO of Unifi. “In 2023, we made significant strides in recycling volume, waste reduction, and strategy refinement. We look forward to building upon our goal of making waste useful at UNIFI.”

UNIFI’s FY2023 Sustainability Snapshot highlights include:

  • Committed to transforming the equivalent of 1.5 billion T-shirts worth of textile and yarn waste by FY2030, effectively doubling the company’s achievement of 750 million T-shirt equivalents through FY2023;
  • Set goal of 30-percent reduction in Scopes 1 and 2 greenhouse gas (GHG) emissions intensity by FY2030**;
  • Pledged to achieve zero non-compliant water discharges annually according to local, state, and national regulations or permitting;
  • Reiterated the commitment to divert 50 billion landfill-bound plastic bottles by December 2025 and announced reaching a milestone of 38 billion bottles in FY2023;
  • Reaffirmed its commitment to REPREVE Fiber comprising a significant portion of FY2025 revenue and shared 30 percent FY2023 revenue progress metric;
  • Reduced landfill waste by 93 percent in the past year at its Central American production site; and
  • Reduced landfill waste by 55 percent in the past year at its Brazilian production site.

UNIFI’s FY2023 Sustainability Snapshot builds upon the disclosures shared in FY2022 and underscores the Company’s commitment to transparency. The Snapshot has been guided by the Global Reporting Initiative (GRI) and Sustainability Accounting Standards Board (SASB) frameworks.

More information on UNIFI’s commitment to sustainable business practices and progress can be found in the full snapshot. https://investor.unifi.com/static-files/ac4d87dc-5d38-4322-a23e-059f14e07b3e

*“T-shirt equivalents” refers to the weight of material equal to that of a single polyester T-shirt.
**Scope 1 reflects direct GHG emissions from owned or controlled sources and Scope 2 reflects indirect GHG emissions from purchased electricity. “Intensity” refers to the normalization of our Scopes 1 and 2 GHG emissions against the revenue for our
Americas and Brazil business segments.

Posted: March 2, 2024

Source: UNIFI Inc.

Oerlikon Manmade Fibers: Turnkey System Assembly Accelerates Production Start-Up

NEUMÜNSTER / REMSCHEID (Germany) — February 29, 2024 — A first BCF customer in the USA has taken advantage of Oerlikon Neumag’s ‘complete assembly’ service – and was thus able to start its yarn production considerably faster than usual. The service had already proven itself during the Corona period when installing meltblown systems.

New systems start production significantly faster when Oerlikon Manmade Fibers takes over their complete assembly. In the case of meltblown systems, this amounts to an average time saving of 50%. The first BCF manufacturer to make use of the service was able to start production a good four weeks earlier.

The time saved here was more than 50 percent: Oerlikon Manmade Fibers technicians were guaranteed to install the systems in 10 weeks. This compares with installation times of up to 22 weeks when Oerlikon’s experts work exclusively with locally provided installation personnel.

The decisive advantage for customers is that, with the respective site manager, they have one contact person for the entire project. This includes not only the scope of delivery from Oerlikon, but also the components from other suppliers that are part of the project. “We go to the construction site as a well-coordinated team, which means there are significantly fewer frictional losses,” says Ingo Lobinsky, Head of Start-up Services at Oerlikon Neumag. “This shortens the installation time considerably. Furthermore, we guarantee a fixed date for the start of production. Time was also essential for the meltblown systems during the pandemic. Filter material for masks was in demand. Every week that manufacturers were able to produce earlier helped to ease the situation. Of course, being able to get started three months earlier also means hard cash for producers.”

Customers of other Oerlikon Manmade Fibers plants have also recognized this advantage. A BCF yarn manufacturer from the USA was recently able to produce with its system after just 7 weeks instead of the usual 10 to 12 weeks. The company also offers the complete assembly service for the filament spinning and staple fiber production processes.

Posted: March 2, 2024

Source: Oerlikon Polymer Processing Solutions Division

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