Alchemie Technology Unveils Its First In-Market Digital Textile Dyeing Production And Demonstration Hub In Taiwan

CAMBRIDGE, England — APRIL 8, 2024 — Alchemie Technology, an England-based clean digital textile dyeing technology pioneer, has today announced the opening of its first in-market production and demonstration facility in Nantou, Taiwan, dedicated to woven polyester. With the introduction of Alchemie’s Endeavour low carbon digital textile dyeing production in Nantou, Alchemie sets a new standard for textile dyeing, challenging conventional practices.

Alchemie Endeavour™ – Low Carbon Digital Textile Dyeing Production

Alchemie’s low carbon Endeavour dyeing process delivers significant sustainability benefits when compared with traditional dyeing processes. It facilitates the transition from wet dyeing to dry processing, resulting in a substantial reduction of up to 85 percent in carbon emissions and a decrease in waste water of up to 95 percent. The unveiling of the demonstration and production hub in Taiwan comes after a decade of technology development and is a major step forward in Alchemie’s mission to eradicate pollution from textile dyeing and finishing processes.

The textile industry carries a considerable environmental burden: without intervention, projections indicate that emissions could soar to 2.5 gigatons by 2050 under current practices, posing a grave threat to climate stability. To mitigate this risk and keep global warming below the critical threshold of 1.5°C, achieving net-zero emissions around 2050 is imperative. Additionally, as the world’s second-largest producer of industrial waste water discharge, the textile sector directly impacts millions of individuals worldwide. This underscores the urgent need for sustainable practices and regulatory measures within the industry.

Alchemie’s brand-new Taiwan facility focuses on polyester woven fabrics and serves as a pivotal step in Alchemie’s ambitious 2024 roadmap, which includes the development of in-market production solutions for cotton woven and knits, as well as polyester with elastane. Alchemie’s Endeavour low carbon digital dyeing production is a true end-to-end process solution: from virgin fabric intake to fully fixed and softened fabric colouration output, the Endeavour process ensures seamless digital dyeing, delivering high-quality results at every stage of production.

Dr Alan Hudd CEO and Founder at Alchemie

Dr. Alan Hudd, Founder and CEO of Alchemie Technology, said “In light of the global fashion industry’s staggering contribution of 2.1 billion metric tons of carbon emissions, equating to over 3 percent of global emissions, there is an urgent need for action. As the world increasingly prioritises environmental conservation, energy efficiency and carbon reduction, there’s a growing demand for low carbon dyeing technology.”

A traditional jet exhaust dyeing process uses large volumes of hot water, at temperatures of up to 135 degrees, for both dyeing and washing, requiring large amounts of energy generated by burning fossil fuels to create steam. At the core of Alchemie’s dry dyeing technology lies its patented digitally controlled piezoelectric nozzle, providing unparalleled precision: it achieves 100-micro registration of 1.2 billion drops per linear meter of dyed fabric, ensuring the highest level of accuracy.

Hudd added, “With the opening of our new production and demonstration hub in Taiwan, we are poised to forge partnerships with leading brands and textile players to unlock greater business opportunities and sustainability. These partnerships are not only about enhancing return on investment but also about driving tangible environmental benefits”.

Posted: April 10, 2024

Source: Alchemie Technology

Julie Tinsman Joins Strataglass As Director Of Business Development

EMIGSVILLE, Pa. — APRIL 8, 2024 — Herculite Products Inc., parent company of Strataglass LLC — a producer of clear press polished PVC sheets for the marine industry, with recognized brands such as Strataglass, CrystalClear, and PanoramaFR — is pleased to announce that Julie Tinsman has been hired as director of Business Development to promote brand awareness, loyalty and grow market share while strengthening our relationships with End Product Manufacturers and our Distribution partners.

“Adding Julie to the Strataglass team is a sign of our deep commitment to the Marine Industry. She has a strong history of building relationships with those driving the industry forward,” said Craig Zola, vice president of Marketing and Distribution.

Tinsman comes to Herculite with experience developing sales and marketing programs that grow sales revenues across national distribution channels. She has a background in sales, business and product development, OEM direct sales, and management in both B2B and B2C environments. Julie is an avid supporter of the marine fabrics industry and currently serves on the MFA advisory board and the Zone 7 board. Tinsman regularly participates in industry expert round table discussions and attends industry trade shows and events.

Posted: April 10, 2024

Source: Strataglass LLC/Herculite Products Inc.

Authenticity50 Introduces Heritage American Sheets: Vintage Meets Modern Natural Cotton Bedding, Proudly Crafted In The USA

PORTLAND, Ore. — APRIL 10, 2024 — Authenticity50 — an American-made bedding and home goods company known for its commitment to premium quality, ethical domestic manufacturing and supply chain transparency — has introduced Heritage American Sheets; natural unbleached cotton sheets that are 100-percent “Seed to Stitch®” Made in the USA and celebrate local craftsmanship and tradition.

Authenticity50

Authenticity50’s Heritage American Sheets are part of a new ‘Vintage meets Modern’ bedding collection encompassing the high quality and durability that American-made is known for, and a classic and timeless look. Made with unbleached cotton and minimal processing, they feature the natural flecks found in raw cotton fibers. The name Heritage American represents the brand’s desire to capture the authenticity of the fabric, its enduring appeal, and its American origin. Consumers looking for premium, long-lasting bedding that’s locally made and kinder to the environment will appreciate this new line.

“We’re proud of our domestic supply chain, and radically low carbon footprint,” said Jimmy MacDonald, Authenticity50 co-founder. “Our sheets travel about 750 total miles for production and support local manufacturing communities. Other brands make their products overseas and transport them via container ships — one of the planet’s worst polluters.”

Launched for the warmer Spring season, the Heritage American Sheets feature a light and airy percale weave and come in “Rustic Cotton” — a natural shade showcasing the authentic color of the unbleached fabric.

“It’s a perfect neutral color for Spring, matches any room decor and instantly creates a welcoming vibe,” said co-founder Steph MacDonald. “The sheets are also durable, soft, and sleep cool; great for warmer weather.”

The sheets begin with premium American long-staple cotton that produces an extremely fine, yet durable single-ply thread; this makes for a much softer and longer-lasting fabric and resists pilling. The raw cotton is spun into yarn in Georgia, woven at one of the last remaining textile mills in South Carolina, and finished in Tennessee. The fabric then heads to New Jersey, where it’s cut and sewn by hand at a second-generation family-owned factory, to ensure the highest standards and quality. This fully 100 percent Seed-to-Stitch® supply chain is the hallmark of Authenticity50, as every aspect of their products are sourced, grown, and crafted in America.

Authenticity50 Heritage American Sheets come in a variety of sizes, starting at $199. Each set includes a flat sheet, a 14-inch deep fitted sheet and envelope closure pillowcases. Available now at www.authenticity50.com.

Posted: April 10, 2024

Source: Authenticity50

Tom Gentile Appointed CEO & President At Hexcel Corp.

STAMFORD, Conn. — APRIL 10, 2024 — Hexcel Corp. announced today that following a comprehensive succession process, its board of directors has appointed Thomas C. Gentile III as CEO and president of Hexcel Corp., effective May 1. He also is expected to be appointed to the board of directors following the annual shareholder meeting on May 2.

He will succeed chairman, CEO and President Nick Stanage who worked closely with the board on his desire to retire at the end of the year. Stanage will become executive chairman of the board to ensure a smooth and successful transition until his retirement on December 31, 2024.

Stanage said: “Today, Hexcel is well positioned with the right strategy, an incredibly talented team and a clear roadmap to continue driving innovation across our differentiated portfolio while delivering sustainable, long-term growth for shareholders. I am confident that this is the right time to transition to a new leader who will continue propelling the business forward and executing against our financial targets. With his significant leadership and aerospace industry experience and composites knowledge, Tom is ideally suited to lead Hexcel into the future. I look forward to working closely with him in my role as Executive Chairman to ensure a seamless transition.”

Gentile is an experienced CEO with a demonstrated record of growing and transforming technology-focused businesses in aviation, health care and financial services. Most recently, he served as president and CEO of Spirit AeroSystems from 2016 to 2023. Previously, he held a succession of leadership roles at GE across the United States, France and Australia including president & COO of GE Capital, president & CEO of GE Healthcare Systems, and president & CEO of GE Aviation Services. Currently, he serves as executive advisor to the Dean of the Barton School of Business and formerly was chair of the Aerospace Industries Association (AIA) in 2023. He serves on the Board of Advisors to the Smithsonian National Air and Space Museum, is president-elect of the Wings Club Foundation, and is involved with numerous charitable organizations. Gentile earned a degree in economics and an MBA, both from Harvard University, and he studied international relations at the London School of Economics.

Stanage joined Hexcel in 2009 as president and was appointed COO in 2012, CEO in 2013, and chairman of the board in 2014. His successful career also includes leadership positions at Dana Holding Corp. and Honeywell.

Hexcel Lead Director Jeffrey C. Campbell said: “Under Nick’s leadership, Hexcel has further established itself as a global leader in advanced lightweight composite materials. He has helped enhance shareholder value, built a talented leadership team, and nurtured a resilient culture that will provide a strong foundation as Tom joins the company. The Board conducted a rigorous succession planning process, and we are pleased to have found in Tom a seasoned executive with deep knowledge of the aerospace industry, including both the airframe and jet engine markets, along with substantial operational expertise and a strong focus on customers and shareholders. We are confident that Hexcel has a bright future with Tom at the helm leading the company forward.”

Gentile said: “It is a privilege and an honor to succeed Nick and build upon the incredible operational foundation and culture he and the team have established. I have long admired Hexcel and been impressed by the company’s strong customer relationships and commitment to innovation. I am excited to work with Nick, the Board and the management team and to continue the impressive momentum underway at Hexcel.”

Stanage concluded: “I am proud of all that we have accomplished at Hexcel, and I want to thank our One Hexcelteam for their phenomenal support and commitment over the last 14 years. It has been an incredible honor to lead the Hexcel team, which is the most talented I have ever known. I am convinced that Tom will now provide great leadership for the next step in the journey and that he will take Hexcel to new heights and a highly successful future.”

Reaffirming 2024 and Mid-Term Guidance

The Company reaffirmed its 2024 and mid-term financial guidance, as detailed in its Form 8-K filed with the SEC today.

Posted: April 10, 2024

Source: Hexcel Corp.

Flexible Carbon Fiber Composite Producer Carbitex Fortifies Global Team With Strategic New Hires

KENNEWICK, Washington — APRIL 10, 2024 — Carbitex — producer of flexible carbon fiber composites focused on footwear, travel, and accessories — has announced the appointment of Filippo Sartor to vice president of Global Sales, and Sam Gardner to the role of vice president of Engineering and Operations. After a restructuring of manufacturing operations and the return of Carbitex founder, Junus Khan, as company president in 2023, the brand welcomes two strategic hires to catalyze the next phase of the leading materials brand.

With more than 20 years in the footwear industry, including nearly 11 years as the Global senior sales manager at JV International, official worldwide licensee for Michelin Soles, Sartor brings high level sales expertise within performance footwear and material innovation. With extensive focus on building new business in the United States and Far East, and based in Milan, Italy, Sartor is uniquely positioned to help propel Carbitex globally into the next chapter.

“I am extremely proud to join the Carbitex team and see huge growth potential thanks to a dynamic group of people dedicated to enhancing the technical benefits in the footwear market,” Sartor said. “I look forward to building Carbitex’s global presence and supporting the many existing brand partners. My experience growing a diverse range of technical and lifestyle footwear brands, combined with the expertise of the team, will help us create new solutions for the most demanding partner needs.”

Gardner, based in Renton, Washington, will manage product development and manufacturing at Carbitex. With time at Square One Distribution — a long-time Carbitex brand partner in the wake and waterski segment — and most recently as vice president for Union Aquaparks, Gardner has considerable experience designing new products and managing sourcing, logistics, and supply chain. His background will help Carbitex strengthen both factory and brand partner relations and push product innovation.

“Filippo and Sam fill key roles with expertise that seamlessly aligns with our vision,” Khan said. “Their backgrounds in sales, product design and manufacturing solidify a complete team poised to drive Carbitex’s next phase of growth.”

These recent hires position Carbitex to better serve strategic brand partners, achieve forecasted growth in the short and long term, and expand global market presence.

Posted: April 10, 2024

Source: Carbitex

Lectra Unveils The New Version Of Its Collection Management Software, Kubix Link PLM, To The Fashion Industry

PARIS — APRIL 9, 2024 — Lectra has announced a major development of its SaaS platform dedicated to collection management for the fashion sector: Kubix Link 3.4 This new version improves optimization at each phase of bringing a product to market, from design to marketing. Its launch goes hand in hand with that of Kubix Forms, a solution that simplifies the collection and integration of data from third-party users on the Kubix Link platform.

To maintain their profitability in the face of current economic instability and intense competition, fashion brands must reduce their costs. While collection renewals are accelerating, brands must also optimize their production operations. Finally, they must respond to increasing requirements in terms of sustainability, compliance and traceability.

In this context, it has become absolutely essential to have information that is as accurate and up-to-date as possible at each stage of the product lifecycle. Fashion brands also need to be able to very simply and easily share this product information with all those involved in the design, manufacture, distribution and marketing of their collections.

A better user experience with Kubix Link 3.4

With Kubix Link PLM, Lectra already had a cloud-hosted SaaS platform offer that included functions for product lifecycle management (PLM), product information management (PIM) and data asset management (DAM).

Kubix Link 3.4 enhances the user’s experience through new media organization (photos, videos), greater data storage capacity, increased flexibility in using the tools offered, as well as improved translation to facilitate cooperation between multilingual teams.

This new version also provides transparent integration of third-party solutions, similar to AccuMark, Lectra’s patternmaking software, or the brand new offer, Kubix Forms. This is being launched in parallel with Kubix Link 3.4 to make it easier for fashion brands to collaborate with their external partners.

“Kubix Link is already used by 300 customer brands and we are the European leader in product data management and collaboration. We want to go further by continuing to develop innovative solutions to respond to the new needs of our customers. The fashion industry evolves very quickly. We are happy to be able to participate in this transformation by providing responses based on our mastery of new technologies and our expertise in each sector, gained from Lectra’s experience working hand in hand with the most renowned fashion brands for over 50 years,” explained François Gonnot, Product Marketing director at Lectra.

Broader collaboration made simpler with Kubix Forms

Launched at the same time as Kubix Link 3.4, Kubix Forms revolutionizes the collaboration between fashion brands and their partners. Third-party users can fill out and expand the information available on Kubix Link. It is now possible to overcome traceability challenges by retracing the origin of textiles and calculating their carbon footprint, to check production quality and interact transparently with suppliers and brands to obtain product information more easily. Automatic response integration in Kubix Link ensures that work flows smoothly, reducing time spent on manual data entry, and promotes data enrichment in a secure manner for brands.

Gonnot concluded: “Fashion brands need more transparency, traceability, compliance and collaboration. The Kubix Forms offer gives them the opportunity to make significant advances in optimizing their business processes and maximizing their operational efficiency, regardless of their size. With the integration of Kubix Forms, Lectra is providing a proactive response to the growing demand for smooth collaboration with third-party users. We therefore offer a significant competitive advantage to customers who trust us to actively contribute to their growth and success.”

Posted: April 10, 2024

Source: Lectra

VDMA Members At Techtextil Frankfurt: Focus On Automation And Digitalization

FRANKFURT, Germany — APRIL 10, 2024 — Techtextil, taking place end of April in Frankfurt, will see a strong participation of VDMA member companies. More than 50 members will be presenting smart technologies for technical textiles in various application areas, seven of them at the VDMA group stand. A focus of the exhibitors will be on automation and digitalization.

VDMA member companies are ready to support the transformation of the textile industry. This means the offer of innovative, highly efficient and resource saving production technologies and the provision of cutting-edge machines and equipment for recycling. In both cases, digitalization is a means to improve both efficiency of the process and quality of the products. Automation and digital tools are also an answer to the increasing shortage of qualified personnel. With the help of digital systems, textile producers can optimize and automate their production processes and thus achieve a high level of process reliability and transparency. Automation and digitalization of textile machines have already been developed and offered to market maturity.

Digitization will only work in close cooperation between machinery builders and textile producers. In this respect, VDMA has organized a panel discussion that will take place at the VDMA group stand (12.0, C55) on April 24, 2:30 – 4 pm. The topic of the event is “Product passport – impact on the industry”. The regulatory process for the digital product passport for textiles continues to gather pace. As things stand, clothing manufacturers in all European countries are expected to require a Digital Product Passport (DPP) from mid-2027.
To discuss the impact of the digital product passport on textile machinery manufacturing and the apparel industry, VDMA has invited industry representatives and will welcome Mr. Andreas Schneider from Global Textile Scheme (GTS), who played a key role in the development of the DPP in the current CIRPASS project, launched by the EU Commission.

The VDMA group stand will also be a platform for junior engineers. On April 25, 4 – 5 pm the Chairman of VDMA’s young talent foundation (Walter Reiners Foundation), Peter D. Dornier, will award six young engineers with the Foundation’s promotion and sustainability prizes. The prizes will be awarded in the categories bachelor’s thesis and diploma/master’s degree.

VDMA is looking forward to welcoming numerous visitors to the events.

Posted: April 10, 2024

Source: VDMA

Two Strong Partners: Texfina And Brückner Look Back On Impressive Success Stories

LEONBERG, Germany — APRIL 10, 2024 — Texfina in Peru, founded in 1947, and Brückner in Germany, founded in 1949, can both look back on impressive success stories spanning more than seven decades. The two family-run companies are pioneers with innovative power. In difficult times, Texfina has put a third Brückner line into operation!

Texfina began with hand-knitted sweaters made by the great-grandmother of the current managing directors, which were exchanged for food at the market. Subsequent generations turned Texfina into one of the world’s leading manufacturers of knitwear. Excellent specialists and advanced machinery as well as several patents are the basis of the company’s success: Texfina supplies customers worldwide with tailor-made textiles that can be made hydrophobic, antibacterial, dirt-repellent or with UV protection. With the help of efficient management systems and IT, Texfina strives for ecological sustainability and promotes employee commitment through a progressive organizational culture.

Texfina continues to upgrade finishing technology with Bruckner.

Brückner is a technological market leader and system supplier for the dry finishing of textiles, technical textiles and nonwovens. Operating worldwide and owner-managed, with 75 years of tradition and experience, Brückner not only develops, produces, and sells systems for coating and finishing apparel textiles, technical textiles, glass fiber, nonwovens and floor coverings, but has also been developing systems for heat-recovery and exhaust air purification for many years. The focus is always on the highest possible productivity with the lowest possible energy consumption.

Texfina recently put the third Brückner tenter with vertical chain into operation. The new machine from the Peruvian company, which is certified to OEKO TEX Standard 100, has 11 compartments and an air/air heat-recovery system. A very homogeneous air flow, perfect temperature distribution and very low specific energy consumption are standard features of all Brückner machines. Precisely reproducible finishing results thanks to complete automation and recipe management in the system, which Texfina uses almost exclusively for heat-setting sports and performance wear, complete the picture. Chains, chain rails and pin bar carriers are extremely robust and low-maintenance, helping to make this machine a particularly sustainable investment. A pre-wash compartment before the fabric enters the stenter ensures better fabric quality and reduced emissions.

Raul Saba, president of Texfina, is extremely satisfied with the cooperation: “The team of Brückner technologists did an excellent job, recognized our needs and configured the machine optimally. It is an enrichment for our production and a guarantee for the quality of our products.”

Regina Brückner, Brückner CEO: “We are delighted about the trustful cooperation with this successful customer. The cooperation with Texfina promises sustainable success and forward-looking results for both sides.”

Posted: April 10, 2024

Source: Brückner Trockentechnik GmbH & Co. KG

Freudenberg Group Reports Record Sales Globally & Profits Surpassing 1 Billion Euros For The First Time

BANGALORE, India — APRIL 9, 2024 — Freudenberg Group, a global technology conglomerate, which commemorates its 175th anniversary year in 2024, today reported record growth in revenues and operating profits for the financial year 2023. Freudenberg achieved sales of 11,902.8 million euros, 1.3-percent higher than the previous year’s figure of 11,753.1 million euros. The operating profit of 1,081.6 million euros showed a significant increase of about 15 percent, compared to the previous year’s 941.8 million euros. The profit margin also improved to 9.1 percent from the previous year’s 8.0 percent. Freudenberg Group attributed its growth globally to innovative product lines, customer focus, and flexible problem-solving across various industries.

G Sivasailam, Director & CEO, Freudenberg Regional Corporate Center India & Managing Director, Freudenberg Performance Materials India

Freudenberg India also announced significantly high sales at INR 3803 crore. The operating result for 2023 has been robust and the group has announced investments close to INR 350 crore in CY 2024 across facilities in Punjab, Karnataka and Tamil Nadu. In Morinda, India, Freudenberg has invested in a new production facility for its Vibracoustic Business Group and its Freudenberg-NOK India joint venture. The company exports close to INR 800 crore from India.

Freudenberg Group has 11 companies operating across diverse segments such as automotive, chemical, energy, technical textiles, and cleaning products in the country. Earlier in 2023, the group announced the appointment of G. Sivasailam, managing director of group company, Freudenberg Performance Materials, as the new director & CEO of Freudenberg Regional Corporate Center India. Sivasailam took over from Georg Graf who had served in the role since 2016, when the Regional Corporate Center was set up to further the group’s continued commitment and growth plans for India.

Commenting on the group’s annual results and its financial figures made public, Dr. Mohsen Sohi, CEO, Freudenberg Group, said: “Numerous records were set during fiscal year 2023. We achieved the highest figures ever for sales and operating profit. When we look back over the past 10 years, it becomes clear how impressive these figures are. Within a single decade, we have roughly doubled our sales and operating profit with an average annual growth rate of 6 and 7.7 percent, respectively. Our investments in research and development have grown by 9.4 percent annually, even more strongly and almost tripling. I would like to thank all our employees worldwide. Their commitment enabled us to achieve these historic results”.

“As Freudenberg commemorates 175 years of operations globally this year, it is indeed a proud moment for Freudenberg India to be part of the continued growth journey. Freudenberg Group has been committed to its growing operations in the country, across diverse domains and across the group companies. We are continuing to invest in the expansion of our facilities and 2024 promises to be another year of key milestones we will achieve in India,” Sivasailam remarked.

The Freudenberg Group is driving the energy transition — with its products and its ambition to become CO2-neutral by 2045. Sustainability is a priority for Freudenberg. For the company, this mainly involves efficiency in the use of its energy and material resources. Freudenberg wants to reduce its CO2 emissions to zero by the year 2045 — mainly through energy conservation, electrification, purchasing and its own generation of green electricity. Keeping in mind the rapid urbanization of India, Freudenberg’s new initiative also aims to reduce carbon emissions footprint.

Freudenberg Group is committed to driving the energy transition and aims to become CO2-neutral by 2045. Sustainability is a top priority, focusing on efficient use of energy and material resources. The company plans to reduce its CO2 emissions to zero by 2045, mainly through energy conservation, electrification, and green electricity generation.

Freudenberg has been sourcing green electricity from photovoltaic and wind power systems for years, including from its own facilities. Around 20 new photovoltaic systems have been installed worldwide, with approximately 60 more in various planning and execution stages.

Posted: April 9, 2024

Source: Freudenberg Group

Sae-A Trading Announces Definitive Agreement To Acquire Tegra

ATLANTA and SEOUL, South Korea — APRIL 8, 2024 — Sae-A Trading, the vertically integrated garment manufacturer and supply chain solution provider, announced today that it has signed a definitive agreement to acquire Tegra’s operating entities in Honduras, El Salvador, and the US.

Sae-A Trading HQ in Seoul, Korea

Tegra, headquartered in Atlanta, Georgia, develops and manufactures sports apparel products for global brands that ultimately outfit professional, college, and high school athletes and their fans. Tegra’s integrated operational entities include Fjord and ArtFx in the US, Southern Apparel Contractors in Honduras, and Decotex in El Salvador. Those entities, acquired and integrated over time by Tegra, possess unparalleled product and manufacturing knowledge, expertise, and capabilities that benefit customers and suppliers, enabling Tegra to be the leading manufacturer of performance-driven on-field uniforms and gear for elite athletes.

Sae-A Trading, established in 1986, is a vertical textile and apparel garment manufacturer supplying the US and European retail markets, with a global production base spanning both sides of the world: Central Americaand Southeast Asia. Currently, Sae-A Trading employs more than 30,000 associates across its operations worldwide. Sae-A Trading operates in eight production countries, fully verticalized from yarn spinning, fabric knitting/dyeing, graphic printing, garment washing, and sewing.

“We are proud and thrilled to welcome Tegra into the Sae-A family,” said WK Kim, Global Sae-A Group Chairman. “This acquisition enables Sae-A Trading to further its growth trajectory, while ensuring continuous and consistent delivery of world-class products for its customers. The scale, operational bases, product development capabilities, and know-how that are being established with this combination will create significant opportunities and advantages for our customers and suppliers.” The integration of Sae-A Trading and Tegra significantly expands the company’s geographic presence, and on a combined basis, Sae-A Trading will be a market leader in the Western Hemisphere, complimenting its existing leadership position in Asia. Kim further stated that “Sae-A Trading welcomes Tegra’s vital employee base to the combined company,” and looks forward to accelerated investments in production and capabilities to better serve our valued customers.

“We have been impressed by the commitment of Sae-A to our business, region and customers, and believe this transaction represents an attractive outcome for Tegra, its employees and our stakeholders,” said Steve Cochran, Tegra’s Chief Executive Officer.

Closing is expected to take place in April 2024. The terms of the transaction were not disclosed.

Tegra was advised by Greenhill (Mizuho M&A), O’Melveny & Myers LLP and Palm Tree Advisors; while Baker McKenzie and EY advised Sae-A Trading.

Tegra will be headquartered in Seoul, Korea.

Posted: April 9, 2024

Source: Global Sae-A Group

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