Fiber Tags Move Up


R
ising raw material costs are adding to the list of mill woes. Both cotton and man-made
fibers now are running considerably above year-ago levels, putting new pressures on overall
industry profits and margins.

Looking at cotton first: Spot quotes for the natural fiber at last report, while down from
early-2008 highs, were still running close to 15 percent above a year ago. And signs seem to
suggest that this firming trend will continue as reduced plantings point to lower output. In any
case, new supplies won’t be nearly enough to meet estimated demand. Zeroing in on the United
States, production for the 2008-09 marketing year is now estimated at only 13.8 million bales –
down significantly from this past year’s 19.2 million bale total. With demand up fractionally, this
will lead to a big fall-off in year-end stocks. Best bet at this time: a more than halving of
end-stock totals to only 4.6 million bales. That’s the equivalent of only a 24-percent stock/use
ratio – again, roughly half the ratio reported for the just-ended 2007-08 marketing year. Global
supply is expected to be down 7 million bales at a time when consumption is projected to edge up
about 1 million bales. Ending stocks look to slip by an impressive 8 million bales. That should
push the global stock/use ratio down to near 40 percent, well under the near-50- percent reading of
recent years. Bottom line: a supply/demand scenario that would seem to suggest a better-than-ever
chance for some further modest cotton price increases in the months immediately ahead.

bfpriceindexes


Cotton Isn’t The Only Problem

Rising costs of other textile inputs are proving equally disturbing to mills these days.
Such other natural materials as cashmere and leather also have been moving higher. Even more
important are the substantial increases that have been posted on many man-made constructions. To be
sure, supplies of these man-mades aren’t the problem. Based on latest estimates, capacity looks to
be more than sufficient to satisfy demand. Rather, the price increases in man-mades for the most
part are attributable to the recent huge cost advances in oil. In any event, such key man-mades as
polyester, nylon, rayon and acrylics have all been moving higher. And when these hikes are added to
the already noted boosts in other fibers, it becomes increasingly clear that rising material costs
can no longer be ignored. Just how much of a factor they are can be gleaned from the fact that the
material component in the basic textile mill sector accounts for nearly two-thirds of every sales
dollar. Add in the fact that

Textile World
editors expect these material costs to increase some 5 to 6 percent this year, and the
magnitude of the problem becomes even more apparent. Consider still other rising mill costs,
especially when it comes to transportation, and it’s easy to see why the industry, while still in
the black, has seen its profits and margins shrink substantially over the past few quarters.


Prices Rising, Too

Given all these above-noted cost pressures, it’s clear why mill quotes are starting to move
up – even in the face of stiff-as-ever global competition and continuing strong resistance on the
part of clothing manufacturers and other downstream consumers. And these increases are starting at
the basic level. Fabric tags already are running some 2 percent ahead of a year ago. Boosts of
roughly the same magnitude are noted for the more inclusive textile mill and textile product mill
yardsticks shown in the chart.

The question, then, is not if prices will continue to rise, but rather by how much? Throwing
all the pertinent cost and other market information into the computer hopper,

TW
has come up with estimates that call for both major mill price indexes advancing another 1 to
2 percent before the year is out. This adds up to about 3- to 4-percent increases for all of 2008 –
well above last year’s small hikes. Even apparel averages – so far resistant to any meaningful
price hikes – should begin to edge higher. Other things being equal, all these price advances
should help prevent any further sharp near-term profit erosion. So should the fact that there is
little or no upward cost pressure in labor, which generally accounts for a sizeable 20 percent of
the textile sales dollar.

More on bottom-line mill performance next month when the latest profit margin projections
become available.

September/October 2008

Trade Officials Take A New Look At Global Agreements


W
ith the breakdown of the Doha Round of trade liberalization negotiations, trade ministers
from developed and developing countries remain committed to getting some kind of an accord, but it
will be a long time in coming. And, if and when it comes about, it will have a new look. When
negotiations were called off in July, the leading participants tried to set a positive tone for
what has to be viewed realistically as a failure. Saying he is not ready to “toss in the towel,”
Pascal Lamy, director-general of the World Trade Organization, said: “I am convinced there will be
a next time. Our immediate priority is to reaffirm our commitment to the multilateral trading
system.”

While the talks broke down over procedures for handling agriculture subsidies and tariffs,
there were major problems in the area of industrial products as well, because the developed and
developing countries were far apart. US textile manufacturers were determined to resist major cuts
in US textile and apparel tariffs, unless and until other countries bring their tariff levels more
in line with those in the United States and also take steps to permit greater access to their
respective markets.

One of the more astute observers of the international trade arena, Eric Autor, vice
president and international trade counsel for the National Retail Federation, said he was
disappointed but not surprised at the outcome of the six years of on-again, off-again negotiations.
While his organization is a strong supporter of more liberalized trade, he believes there are just
too many differences between the major participants for anything to happen in the current climate.
He believes the chances of wrapping up a broad international pact in the next couple of years are
“remote.” He says, however, that there could be some positive developments if countries could
endorse some sectoral agreements.

One such sectoral agreement, which he believes would be tremendously helpful, would be
agreement on simplification and harmonization of customs rules, making them more simple and
uniform. For years, many US manufacturers, including textiles, have complained that customs
regulations in other countries are so complicated that they amount to serious non-tariff barriers
to trade.

Autor says there likely could be emphasis on bilateral and multilateral trade agreements,
but for the time being, any major agreement faces a period of stagnation.

Cass Johnson, president, National Council of Textile Organizations, agrees that a broad
global agreement is out of the question, at least in the current atmosphere, but he believes
negotiations could be successful in certain sectors for what he says would amount to a “mini
round.” Johnson believes some progress can be made in certain areas that would facilitate trade,
including customs reform. He pointed out that it will be more difficult for Congress to go along
with trade agreements because more and more members have become convinced that past liberalized
trade efforts have not created jobs, but in fact have resulted in large numbers of job losses.

US Trade Representative Susan C. Schwab said the United States remains “fully committed to
the mission of the World Trade Organization as the foundation of the rules-based multilateral
trading system and to multilateral negotiations.” That is the Bush adminisration’s commitment, and
it does not amount to much at this stage, as nothing will happen until well into the next
administration in Washington.

For one thing, Congress will have to renew the president’s Trade Negotiating Authority –
fast track – for anything meaningful to happen. That will not take place until a new negotiating
team and a new Congress are in place, and that could take months.


Congress To Look

At The Removal Of Chinese Quotas

US textile manufacturers are continuing to press for government actions to help combat what
they see as major problems when the so-called safeguard quotas on 31 sensitive categories of
Chinese textiles and apparel are removed at year’s end – and they may be getting some promising
help from key members of Congress. House Ways and Means Committee Chairman Charles B. Rangel,
D-N.Y., one of the most powerful forces in shaping US international trade policy, says his
committee will take up the issue before Congress adjourns for the year.

wo
House Ways and Means Committee Chairman Charles B. Rangel speaks in support of a plan to
keep jobs in the United States.

With a simple rollover of the quotas out of the question, industry lobbyists are looking at
a number of options. One would be to have the government’s monitoring program for Vietnamese
textile and apparel imports continued and expanded to cover Chinese imports. If the Commerce
Department finds imports are injuring the US economy, it is committed to initiating an anti-dumping
investigation. That commitment, however, was made by the Bush administration, and no one knows what
will happen with a new administration.

Importers of textiles are strongly opposed to the monitoring program, as they believe it has
had a chilling effect on trade without saving any US jobs. US textile manufacturers and others are
pressing for legislation that would define currency manipulation as an unfair trade practice that
can be taken into consideration in anti-dumping and countervailing duty cases.

On the congressional front, Rangel and Ways and Means Trade Subcommittee Chairman Sander
Levin, D-Mich., have introduced their Trade Enforcement Act of 2008, which will deal with some
textile trade-related issues, particularly enforcement of existing trade agreements and attacking
nontariff barriers to trade. In addition, Rangel said recently his committee will pass legislation
that is specifically focused on the Chinese textile and apparel quota issue.

Another approach the congressional leaders are looking at is employment of so-called Section
421, where an unfair trade practices case can be launched by a firm, trade association or union; or
by a resolution from the House Ways and Means Committee or Senate Finance Committee. If the
International Trade Commission finds grounds for action, a recommendation is sent to the president.
While this is a quick and easy way to get relief from market-disrupting imports, it is dependent on
action by the president. Some non-textile-related Section 421 cases have been proposed to President
George W. Bush, but he has refused to act on them. Therefore, any success with this approach would
be up to the next president and Congress.

US textile manufacturers are exploring ways they can make greater use of US anti-dumping and
countervailing duty laws, but textile manufacturers do not have standing in apparel cases, where
most of the damage is being done, so they would have to find apparel allies to file cases.


GAO Will Look At Formaldehyde In Textiles

Congress has directed the US Government Accountability Office (GAO) to conduct a study to
determine whether formaldehyde in textiles and clothing presents a health risk. The study is part
of an expanded mandate given to the Consumer Products Safety Commission (CPSC) in the wake of last
year’s flap over unsafe toys and other products reaching the US market. There is some uncertainty
surrounding whether formaldehyde in textile products actually is a problem.

Sen. Robert Casey, D-Pa., one of the main sponsors of legislation calling for the study,
thinks there is or could be a problem. He cited a 1997 CPSC report that named a number of adverse
reactions to formaldehyde including burning eyes, chest tightness, skin rashes and other allergic
reactions. He also said formaldehyde has been observed to cause cancer in laboratory animals and
that it “might” in humans.

US textile manufacturers are not particularly concerned about the study, as they have a long
history of working with the CPSC on the formaldehyde issue and have made efforts to control any
problems. It is possible, however, that the study could uncover some problems with imports.

September/October 2008

US Textiles: Making A Silver Lining


A
t a time when almost everyone is barraged with news of the shakiness of financial
markets, the daily presidential election stump speech sound bites and another storm heading into
the Gulf of Mexico – some textile companies have ignored the noise and looked for ways to leverage
all the negative news.

Yarn Market Editor Jim Phillips reports in this issue of

Textile World
that spinners may have a strong finish in 2008. Shipping costs, uncertainty and short time
frames on retailers’ programs may bode well for spinners – particularly those with well-developed
CAFTA ties. The tightening supply of ring-spun yarn looks like it may even be helping open-end
spinners move ahead.

The issue also features a news roundup of some of the textile industry’s leading
manufacturers. Large and small, long-lived and brand-new – and from a variety of industry sectors –
each company is investing, acquiring and/or expanding at a time when so many have counted US
manufacturing out.

At least three foreign-owned firms recently have announced intentions to make significant
investments in plants and equipment in the United States. Investing in US manufacturing to gain
proximity to raw materials and markets  – an interesting turn of events – illustrates the
potential for a long-term shift in sourcing strategies.

Grupo Zaga S.A. de C.V., a Mexico-based conglomerate owned by the Zaga family, and several
North Carolina textile executives have formed Lacassine, La.-based Zagis USA to produce open-end
cotton sales yarn and plans to invest $75 million in two facilities. Phase one is planned for
completion in 2008, with phase two slated to begin in early 2009. Brazil-based Santana Textiles,
South America’s largest denim fabric manufacturer and the fifth-largest such producer in the world
with four plants in Brazil and one in Argentina, plans to invest $170 million in a denim
manufacturing plant in Edinburg, Texas. And Brazil-based nonwovens producer Companhia Providência
Indústria e Comércio has announced it will build a spunbond nonwovens facility covering 215,000
square feet on 43 acres in Statesville, N.C. The company expects to receive machinery for the
facility’s two production lines, with a combined production capacity of 40,000 metric tons per
year, by February 2009.

As fall comes quickly, IFAI Expo rolls into Charlotte in late October. The show rotates
annually among locations, but Charlotte often adds a special lift due to the number of nearby
textile operations. Additionally, the organizers have a full slate of activities for members and
visitors interested in industrial and technical textiles as well as applications. The Industrial
Fabrics Association International (IFAI) told

TW
editors that the association expects some 8,000 visitors from more than 60 countries to
attend, with close to 470 exhibiting companies and more than 90 industry experts leading workshops,
symposia and other programs.

Although not all US textile manufacturers have been able to adjust to the challenging
economic times facing the market, for those that have, the story of finding a silver lining needs
to be corrected. Few found anything, but as manufacturers, they made it.

NCSU MIST Lab Tests Protective Garments

The North Carolina State University (NCSU) College of Textiles, Raleigh, N.C., has opened a
state-of-the-art Man-In-Simulant Test (MIST) facility at the College’s Textile Protection and
Comfort Center (T-PACC). The facility was funded by a $2 million US Department of Defense grant
secured by Rep. Bob Etheridge, D-N.C.

The new facility enables testing of complete protective ensemble suits in nontoxic chemical
vapors that are similar to toxic chemical and biological agents, and will provide test results and
analysis more quickly than other such facilities, according to NCSU. Testing will be conducted on
mannequins and on human subjects performing first-responder-type tasks in a controlled environment.
Analysis of adhesive pads worn underneath the garments being tested will reveal vapor penetration
levels through the fabric and at the garments’seams and closures.

The MIST facility willbe supervised by T-PACC Director Dr. Roger Barker and joins the
center’s facilities for mannequin-testing of thermal protective and comfort properties of apparel.
The facility provides a readily accessible lab to test prototype firefighter turnout gear developed
by Barker, who had received a grant in 2003 from the Department of Homeland Security to develop
such a suit with improved protection from heat and toxins as well as enhanced comfort and
durability.

“The new MIST lab will be integrated into our existing garment testing facilities and
increases our ability to provide accurate studies of protective gear in a more timely manner,”
Barker said. “This facility complements all of the research we engage in and will accelerate the
development process for new types of protective gear.”



September/October 2008

Republican Platform Focuses On Broad Range Of Issues

The platform adopted at the Republican National Convention last week calls for a wide range of
government initiatives dealing with national security, energy policy, the environment, education,
taxes and government reform, including an outline of how a McCain-Palin administration would deal
with international trade and competitiveness in a global economy.

The 64-page document’s preamble says it is “grounded in our heartfelt belief that our
principles, our policies and our vision will lead our American family, not just through present
dangers, but to a horizon of prosperity and liberty mankind has only begun to explore.”

Calling for “Free and Fair Trade,” the document says “greater international trade,
aggressively advanced on a truly level playing field will mean more American jobs, higher wages,
and a better standard of living” and  “it is an instrument of national security.” Pointing out
that 95 percent of the world’s customers are outside of the United States, the platform says “we
need to be at the table when trade rules are written to make sure that free trade is indeed a
two-way street.”

The Republican Party leaders say a new administration will encourage multilateral, regional
and bilateral agreements that reduce trade barriers that today limit market access for US products,
commodities and services. The platform calls for reinstatement of the president’s trade promotion
authority, which trade officials believe is an essential element in reaching any future trade
agreements. It also says trade agreements that have already been signed and are pending before
Congress — such as those with Colombia, Panama and South Korea — should be debated and voted on
immediately.

The party pledges to take stronger action to protect intellectual property rights against
pirating and to aggressively oppose the direct or indirect subsidies by which some governments “
tilt the world playing field against American producers.”

The platform says that while the Republican Party welcomes the emergence of a “peaceful and
prosperous China,” it adds that China must fulfill its World Trade Organization obligations,
particularly related to protection of intellectual property rights, elimination of subsidies and
repeal of import restrictions. It adds that China’s full integration into the global economy
requires that it adopt a flexible monetary exchange rate and allow free movement of capital.

The platform pledges to continue close associations throughout the Americas including “
mutually beneficial” trade agreements. It also calls for expanded trade with African nations.

Another section urges using education reform and the tax code to promote competitiveness.
Among other things, it calls for reforming and making permanent the Research and Development Tax
Credits. It also advocates modernizing the government’s retraining and unemployment adjustment
assistance programs and making greater use of community colleges in retraining programs.

In a section entitled “Keeping Good Jobs in America,” the platform calls for a major
reduction in the corporate tax rate, which it says is one of the highest in the world, so that
American companies can stay competitive with their foreign counterparts and invest in modern,
job-producing facilities at home.

September 9, 2008

The Rupp Report: Communication Saves Money

The US Open came to an end last Sunday. The US Open is one of the four Grand Slam tennis
tournaments. But this is only half the truth. It could not come to an end yet, namely because
another hurricane stopped the tournament. The final took place 24 hours later. So, probably, many
ticket holders for the final were not be able to attend — they had to go to work on Monday, instead
of seeing a dream final.

It Rains

In the middle of the second semifinal, the players left the court because it started to
rain. This is actually quite normal for an outdoor sports event, which does not take place in
halls. In the end, outdoor sports are still dependent on the weather. However, since television
networks have more power than ever, they already dictate when and where a sports event will be
broadcast. Probably another event is on the schedule for the next day, which in fact was the case
for the US Open. Of course, the TV networks are the most important tool to transport the message “
US Open” to the world. So a lot of problems and logistics must be settled. You don’t believe me?
Check it out.

It Is Expensive

Now, one can read in the newspapers that the organizer of the tournament, the US Tennis
Association (USTA), wants to build a roof — “within the next years” because this seems to be very
difficult and also very expensive. The USTA calculates expenditures of about $100 million. I’m
sure, dear reader, you know, what’s coming now? Yes, of course, the use of technical textiles would
reduce expenditures and construction time substantially. But, very probably, these people think
only in tons of concrete, too.

Textile Constructions

But how should they know? They probably have no idea about a roof membrane construction that
can be pulled with ropes over a slim and lightweight steel skeleton — as is already in use in many
stadiums, primarily in Western Europe, where slowly but steadily one has recognized the advantages
of technical textiles. Constructions applying textiles are some of the oldest architectonic forms
in human history. Today, because of their outstanding economic and ecological advantages, textile
constructions are an indispensable element of modern architecture.

The physical principles in the development of textile fabrics follow the same physical
principles contained in the formation of soap bubbles or the human skin with regard to minimum
energy conditions between their own weight and external forces such as wind and snow; as well as
the lowest possible tension, expansion and resulting membrane curvature. For this reason, the
design of textile roofing represents a very large and special challenge to engineers, and as a
consequence, membrane constructions still represent an innovative possibility in modern
architecture.

Get The Right People Together

It takes many different parties to build a roof with a modern membrane construction for a
sports stadium. Just to name a few, there are the fiber and yarn producers, weaver, finisher,
maker-up, contractor, and, of course, the owner of the stadium. So the job is to bring these people
together. A successful job can only be done if the owner and the architect know that a membrane and
not concrete is the ideal material for the roof covering. The challenge is to inform all
participating parties of the possibilities of technical textiles.

Tell It Like It Is

The technology and technique of producing fibers, yarns, and woven and knitted fabrics, as
well as their further processing into technical textiles, have to be communicated. The biggest
hindrance to technical textiles communication in all production stages is the enormous variety of
application fields. It is particularly important in the technical textiles sector, therefore, to
communicate downstream from the end product and not from the machinery side.

Also here, you need the right tools to get information and to communicate with the industry.
How does the stadium proprietor or his general contractor know that you are just the right partner
or maker-up? Correct, you have to build up a market image through competence, and become a credible
supplier, and take your product literally to the market.

Textile Industries Media Group
’s magazines are just one tool to get information for these promising textile applications.
Another tool is to check out our website
www.TextileWorld.com. You will find a lot of
information about nonwovens and technical textiles. More and more, traditional textile
manufacturers are producing tailor-made fabrics for industrial applications. Referring to our
latest data, more than 22,000 people per month on average are clicking on this website to get the
latest information about technical textiles.



September 9, 2008

SchäferRolls Acquires Samco

Germany-based SchäferRolls — a supplier of proprietary roll covers and rolls services used in a
range of industrial applications — has acquired Farmington, N.H.-based Samco Inc. — a company in
the business of roll rebuilding and recovering for the pulp, paper and converting industries — and
formed SchaeferRolls Inc.

The new company will operate out of Samco’s existing manufacturing and service facility in
Farmington, which will be upgraded and expanded, with all existing Samco employees, product lines
and technology incorporated into the new business. SchaeferRolls will add a new dual chamber oven;
a CNC controlled roll grinder, a composite cover application station and a new Vac-U-Blast station;
and upgrade the polyurethane and rubber production lines, with completion expected in the third and
fourth quarters of this year.

Former Samco Inc. stockholders Bradley Moore and Jeanine Lewis, will serve as SchaeferRolls’
president and vice president, respectively. J.T. Fisher has been appointed director, sales and
marketing; and Janko Lukezic has been named technical director. The company will add more sales and
service engineers to support the new expanded product and service offerings as they enter the
market.

September 9, 2008

Milliken Eliminates Transparencies

Spartanburg-based textile and chemical manufacturer Milliken & Company is continuing its “With
Respect for our Earth” green initiatives by outlawing the use of transparencies and transparency
machines for presentations made in internal meetings.

“A company like Milliken, which thrives on facts, data and analysis, can literally use a ton
of transparencies in the course of a year,” said Richard Dillard, director of public affairs,
Milliken. The company will switch to using laptop projectors for all of its presentations, saving
not only on the cost of transparencies but also the cost of disposing of them and the raw materials
used to produce them. “The film used for making transparencies is petroleum-based, so the
initiative also contributes to reducing dependency on oil during a time of high energy costs,”
Dillard said.

The company will donate used equipment and supplies to nonprofit agencies through United Way,
and to local schools.

September 9, 2008

The Rupp Report: Incentives For The Pakistani Textile Industry

The whole Asia-Pacific Rim is under economic pressure. Most of the countries are suffering a heavy
downturn in their industries in general, and in the textile industry in particular. This is also
the case for Pakistan, one of the giants (not only) in home textiles production.

According to official sources, the Pakistani government is not very happy with the
performance of its textile industry. That’s why the so-called Economy Monitoring Committee (EMC) is
considering supporting the suffering textile industry with a package, which should be discussed
later this week.

However, another committee, the Economic Coordination Committee (ECC) was faster than the
EMC, raising the issue in the cabinet. The majority of the ECC members have the impression that the
rupee had devalued by 22 percent in one year’s time, and the ultimate advantage of this had gone to
the exporters. That’s why they are asking for a special package, some sources mentioned. The major
reason for this action was that the All Pakistan Textile Mills Association (APTMA) had the idea
that the government “should do something” that they think is reasonable for the troubled textile
industry.

Consequently, the ECC articulated its displeasure over the performance of the textile sector
but also decided that any action concerning the textile industry should be discussed by the EMC
first. It was mentioned that the EMC would submit its suggestions to the ECC in its next meeting.
The proposal, if approved, would be a complete negation of the budgetary proposals for the period
2008-09 to extend zero subsidies for research and development support to the textile sector. The
budget for 2007-08 had envisaged zero subsidies on R&D. However, some interested groups
successfully lobbied the previous government to extend 19 billion rupees for the purpose.

New Incentives Package

In the new incentives package, the ministry proposed that duty drawback may be granted to the
industry on domestically acquired inputs including taxes on energy — that is, gas and electricity.
The drawbacks would only be allowed to those products that do not require further value addition.
The drawback on locally acquired inputs would not affect the eligibility of the exporters to claim
the normal duty drawback. According to the ministry, the drawbacks would be allowed to
manufacturers and exporters having in-house facilities at least for cutting and stitching, and will
cover shipments made with effect from July 1, 2008, to June 2009. The ministry has proposed that 30
billion rupees may be allocated to cover R&D expenditures during the financial year 2008-09.

Another proposal from the ministry was that this drawback scheme for locally acquired inputs
may graduate into an investment support fund. This initiative would facilitate balancing of the
value chain in the textile and apparel industry, upgrade technology, bring the unorganized sector
into the organized sector, generate employment and create economies of scale.

Investment Promotion Fund

The investment promotion fund would reimburse 5 percent interest on investments in machinery
to the targeted textile and apparel sectors and cover imports effected through letters of credit to
be established from July 1, 2008. The fund would be operational for five years and would be
reviewed thereafter. The ministry has suggested that the scheme may also be announced, with the
name of the drawback scheme, to encourage investments that would not have financial implications in
2008-09. However, any claims may be covered from the amount allocated in the budget.

Tax Credit Facility

Another important proposed incentive is said to be a 20-percent tax credit facility on
investment under the drawback scheme. Furthermore, it was also proposed that reimbursement of
interest on loans to the textile industry for 2007-08 may continue for another year at the rate of
5 percent. It was also mentioned that the textile industry has also required separate power tariff
for it, but it is unlikely to be approved by the government.

September 3, 2008

Reliance Backs Out Of Unifi Deal

Reliance Industries USA Inc. — the US arm of India-based Reliance Industries Ltd. — has backed out
of its agreement with Unifi to purchase Unifi Kinston LLC, a polyester manufacturing facility
located near Kinston, N.C. As a result, Unifi retains the right to sell the Kinston facility assets
for up to two years.

Reliance had planned to invest $215 million in a manufacturing operation for production of
polyethylene terephthalate resin used to make specialty polyester yarns and plastic containers, and
employ 204 workers.

September 3, 2008

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