PARIS — March 5, 2024 — Hexcel Corp. has launched a new HexTow® continuous carbon fiber — IM9 24K — providing the market with a lightweight, strong and durable carbon fiber with enhanced value for the world’s most advanced aerospace composite applications.
HexTow IM9 24K is an intermediate modulus (IM) fiber of 24,000 filaments with an average tow tensile strength over 6,300 megapascals (MPa), a modulus of 298 gigapascals (GPa) and strain of 1.9%. This new product provides a 12% improvement in tensile strength over the Hexcel baseline IM7 fiber, which is a major component in commercial aircraft engine fan blades and other aerospace applications.
“Hexcel developed HexTow IM9 24K to be a workhorse fiber that builds on the company’s proven legacy of intermediate modulus fibers,” said Imad Atallah, vice president, Product Management, Composite Materials. “We are excited to offer our customers a dependable carbon fiber solution for high-rate manufacturing and high-performance material designs.”
The HexTow® IM9 24K provides an alternative solution for customers seeking affordable, high-value composites, and is particularly suited for manufacturing primary and secondary aerospace vehicle structures. The combination of the fiber’s high performance and translation into composite tensile strength, as well as the increased fiber line throughput and productivity provided by a 24K tow size, provides a strong value proposition when compared to other commercially available IM fibers.
With the launch of the new HexTow IM9 24K carbon fiber, Hexcel anticipates qualifying the product with highly-toughened epoxies, thermosetting bismaleimide (BMI), out of autoclave (OOA) and other high performance resin systems. Composite data is currently being generated in a variety of resin systems and will be made available to customers.
LEWISVILLE, N.C. — March 4, 2024 — Applications will be accepted March 1-31, 2024, for nine scholarships from the Educational Foundation (EF) of IFDA, the International Furnishings and Design Association. Since the early years of this 77-year-old global design industry alliance, arguably the most diverse organization of its kind with membership that includes designers, media and marketers, EF has awarded scholarships to high-achieving design students as well as grants to talented professionals, internationally. This year there are nine scholarships available for a total of $20,500.
“These scholarships confirm our belief in supporting today’s students and enhancing public awareness of design through educational and philanthropic programs,” said Stephanie Graham, Chairman of the Board of the Educational Foundation of IFDA. “Students are our future.”
Applicants must be currently enrolled and scholarships are paid to the school for the 2024 fall semester tuition. Applicants are not eligible to apply if their graduation date is either the spring or summer semester of 2024. Scholarships are for undergraduate and graduate students attending U.S. institutions and all applications must be in English.
The nine scholarships are as follows:
FBN Leaders Commemorative Scholarship — $3,000. Open to currently enrolled interior design or related program, full-time undergraduate students; extra credit for volunteer work/leadership.
Part-Time Student Scholarship — $1,500. Open to currently enrolled interior design or related program, part-time students.
IFDA Student Member Scholarship — $2,000. Open to currently enrolled interior design or related program, full-time undergraduate IFDA student members. Link to join IFDA: https://ifda.com/join-ifda/.
Vercille Voss IFDA Graduate Student Scholarship — $2,000. Open to currently enrolled interior design or related program, full- or part-time graduate students.
Ruth Clark Furniture Design Scholarship — $4,000. Open to currently enrolled, full- or part-time undergraduate or graduate students with a course emphasis on Furniture Design.
Tricia LeVangie Green/Sustainable Design Scholarship — $1,500. Open to currently enrolled interior design or related program, full- or part-time undergraduate students.
Barbara Beckmann Textile Design Scholarship — $3,000. Open to currently enrolled full- or part-time undergraduate and graduate students with course emphasis on Textile Design.
IFDA Philadelphia Scholarship — $2,500. Open to currently enrolled, two-, three- or four-year interior design or related program students. Focus rotates annually between design in Textile, Graphic, Furniture and Interior Design. This year’s focus is Furniture Design.
Window Fashion Certified Professionals Fast Track Scholarship One Full Registration — $1,000. Open to currently enrolled, two-, three- of four-year interior design or related program students.
As stated, applications for all 2023 EF scholarships will only be accepted during the month of March, with winners promised notification in July. For details, please consult the Educational Foundation website www.ifdaef.org. Or for answers to specific questions about these or any of EF’s other scholarships and grants, contact Earline Feldman, Director of Scholarships & Grants, at ef.ifda@tapestries.org .
BRADFORD, England — March 4, 2024 — Long-time education provider Society of Dyers and Colourists (SDC) is delighted to announce that applications have now reopened for its Global Colourist Award.
The award recognizes the professional achievements of those working across the wider coloration sector. Entries are open to colorists worldwide across the full gamut of specialisms including — but not limited to — textiles, dyes and pigments, leather, food and paint. Production dyers, shift dyers or printing colorists are all eligible.
A £1000 prize is on offer for the chosen recipient, with Advanced Colours and Chemicals Ltd. in Rossendale kindly sponsoring the competition.
The winner will also be invited to the SDC’s all expenses paid Day of Celebration and awards ceremony on November 8, 2024, where they will be presented with a certificate and their prize money.
Applications are welcomed up until the deadline of May and supervisors, managers or directors can also nominate an employee. Alternatively, people can put themselves forward, on the proviso that a referee can confirm their suitability.
Ian Lewis, managing director of Advanced Colours and Chemicals, said: “This award represents recognition of outstanding achievement within the first decade of an individual’s career. There was an excellent array of nominations submitted for last year’s award, so the bar has been set very high!”
Dr Graham Clayton, CEO of SDC, said: “The society is once again delighted to be reopening applications for the Global Colourist Award for a second year running. We’re looking for an outstanding individual who is able to demonstrate enthusiasm, commitment, excellent performance, competence, a contribution to team effort and strong general knowledge of the coloration industry.”
In addition to the event invitation and the prize money, the winner and their employer will be featured in the SDC’s quarterly members’ magazine, The Colourist. Runners up and those who are highly commended will receive book vouchers to use forSDC’s books or non-textile coloration books, sponsored via other sources.
Highly commended winner for 2023, Hannah Rampley, teaching technician at the University of Manchester, said: “Being selected as last year’s Global Colourist was completely unexpected and was a huge achievement for me, so thank you to the judges for selecting me as their winner and to the SDC for the award.
“It’s not often that technicians get recognized for the work that they do to educate and inspire students so it was a huge honor to receive this accolade.
“I look forward to seeing how my future career in color will develop and receiving this from the SDC has given me a huge confidence boost and made me really look forward to what will come next!”
Judging of the entries will take place in June, with interviews scheduled in early September. The winner will be notified in mid-September.
For details on how to nominate/enter please visit the SDC website: https://sdc.org.uk/colour-competitions/global-colourist-award-2024/
FAIRFIELD, N.J. — March 4, 2024 — In a move designed to provide its customers with an all-in-one FR solution for their mattress collections, Precision Textiles, a trailblazer in textile innovation and a leading supplier for the bedding, home furnishings, automotive and healthcare industries, has engineered a new product called IQFIT Comfort.
As part of its IQFIT family of products, IQFIT Comfort is designed for use by both mattress manufacturers and cut and sew cover suppliers and is geared toward the residential and hospitality markets. Its fabric is sustainably sourced with FR capabilities just like the company’s IQFIT product collection with a more comfortable and flexible design.
“Introducing IQFIT Comfort marks yet another milestone in our commitment to the bedding industry and represents our dedication to continually pushing the boundaries of comfort and functionality,” said Scott Tesser, CEO of Precision Textiles. “Not only does this product deliver exceptional comfort but it also offers versatile applications, catering to the needs of both residential and hospitality markets.”
By utilizing a comfort focused knit construction combined with the latest FR Chemistry, (Prop 65 compliant) IQFIT Comfort significantly improves comfort and flexibility and is perfect for promotionally priced, compression packed mattress designs.
IQFIT Comfort allows for a single solution CFR 1633 compliant application and outer cover making it a more efficient approach to mattress constructions.
“In an industry that is perpetually seeking cost efficiencies and streamlined production, Precision Textiles remains a standout,” said Garrett Graven product development manager and textile engineer. “Our research showed that mattresses in the promotional category prioritize basic functionality and price making IQFIT Comfort the perfect solution. It seamlessly combines cost-effectiveness and function with exceptional comfort and is tailored precisely for this consumer segment.”
IQFIT Comfort’s patent pending product design aligns with current USDA Bio-Preferred product assortments reaffirming Precision Textile’s dedication to sustainable manufacturing methods. It will make its official debut this March at the ISPA Expo 2024 in Columbus, Ohio.
BALLY, Pa. — March 4, 2024 — Bally Ribbon Mills (BRM), an industry innovator in the design, development, and manufacture of highly specialized engineered woven fabrics, announces it will highlight its 3D weaving capabilities at JEC World 2024, which will be held on March 5-7, 2024, in Paris-Nord Villepinte, France, Booth #6M38. BRM will highlight its film infusion capabilities for 3D woven joints; woven thermal protection systems (TPS); and advanced woven composite 3D structures, including 3D near-net shapes.
In BRM’s film infusion process, a frozen sheet or film of resin is infused onto the custom 3D woven joint. Film-infused 3D woven joints ship as premade assemblies, ensuring consistent quality control from the industry-leading experts in fabrication and saving customers the cost of infusing the resin themselves. BRM has perfected the science and art of 3-D continuous weaving to fabricate such structures as “Pi – π,” double “T,” “H,” and other complex shapes. Offering the optimal blend of strength, durability, and structural integrity, these complex woven structures are used primarily in aerospace applications, often in airframe structural components and subassemblies including stiffeners and joints.
Those who visit the booth will see lightweight materials like 3-D woven fabrics and learn about our multifunctional thermal protection systems (TPS) for atmospheric re-entry. BRM has implemented innovative weaving technologies to develop complex webbing for aerospace products. The woven TPS billet to be showcased at the booth is part of a line of products that was selected as the critical component of the heat shield on the Orion Crew Capsule, which helps protect against the extreme temperatures of atmospheric re-entry.
In partnership with NASA, BRM developed the 3D Orthogonally woven 3DMAT Quartz Material for the Orion Multi-Purpose Crew Vehicle (MPCV) compression pads. The 3DMAT Quartz Material was recently named the 2023 NASA Government Invention of the Year.
Also on display are lightweight, cost-effective, advanced woven 2-D and 3-D composite structures. Using a multi-dimensional continuous weaving method, BRM produces textiles that can be fabricated into near net-shape structures. These advanced weaving capabilities offer customers new solutions that reduce weight and cost. The technology weaves complex shapes automatically, eliminating many costly, time-consuming, and labor-intensive processes.
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.
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.”
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!
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.
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.
PARIS — March 5, 2024 — Hexcel Corp. has launched a new HexTow® continuous carbon fiber — IM9 24K — providing the market with a lightweight, strong and durable carbon fiber with enhanced value for the world’s most advanced aerospace composite applications.
HexTow IM9 24K is an intermediate modulus (IM) fiber of 24,000 filaments with an average tow tensile strength over 6,300 megapascals (MPa), a modulus of 298 gigapascals (GPa) and strain of 1.9%. This new product provides a 12% improvement in tensile strength over the Hexcel baseline IM7 fiber, which is a major component in commercial aircraft engine fan blades and other aerospace applications.
