Archroma Awarded EcoVadis Platinum Rating For Second Consecutive Year

PRATTELN, Switzerland — December 20, 2022 — Archroma today announced the renewal of its EcoVadis “Platinum” status and further improvement of its overall rating.

Following an in-depth assessment by EcoVadis, covering 21 criteria grouped into 4 themes — Environment, Labor & Human Rights, Ethics, and Sustainable Procurement — Archroma further improved its score by 4 points (from 78/100 to 82/100), thanks in particular to its ongoing efforts in sustainable procurement, focusing on supply chain transparency and best practice sharing with suppliers and industry peers.

More details on Archroma’s sustainable sourcing activities can be found in the company’s Sustainability Report for its fiscal year 2022, just released on 8 December 2022. The Report includes an assurance report by KPMG, who conducted a limited assurance on several core ESG metrics, including CO2 emissions, water intake, occupational safety and gender diversity. Archroma passed the audit successfully, providing yet another third-party validation of the company’s deep commitment to its ESG objectives and roadmap.

“Our purpose is to lead our industry towards a more sustainable future for our customers and markets, and we are doing everything we can at Archroma to deliver on that ambition”, commented Danielle Blomert, Archroma’s chief sustainability officer.

Daniel Madueno, global head of Quality Management added: “We see sustainability as a true team effort, and the renewed EcoVadis recognition as a tribute to the hard work and ambition of all my colleagues to achieve and maintain the highest ESG standards every day, everywhere.”

Posted December 20, 2022

Source: Archroma

Web Industries Names Amy Reardon Doherty Vice President, Legal

MARLBOROUGH, Mass. — December 20, 2022 — Web Industries Inc., a global manufacturing partner in aerospace, medical, home care, and industrial markets, has named Amy Reardon Doherty as vice president, legal. Over her career, Doherty has advised executives and business partners on a wide range of legal, financial, IP and business issues.

“Amy brings a great blend of private practice and in-house counsel experience in corporate law to our team—particularly around contract manufacturing and the business-to-business arena,” says John Madej, Web Industries’ CEO. “She has a long history and established network within the business sectors we serve and a real talent for negotiating and structuring agreements in these areas. We are very pleased that she’s joining us.”

Prior to joining Web Industries, Doherty counseled the automotive, manufacturing and global supply chain businesses at Bose Corporation and led a team of product lawyers who supported the B2B businesses.  Amy also worked at employee-owned Nypro Inc., Clinton, Mass., advising the healthcare business division as well as Nypro’s strategic companies.

Doherty previously spent nearly a decade in private practice at the Boston office of law firm Goodwin Procter, where she worked on cases involving general corporate law, mergers and acquisitions, and financial restructuring. She earned her law degree from Northeastern University School of Law, her bachelor’s degree in political science from Tufts University, and has completed additional studies through Harvard Business Publishing Corporate Learning.

Posted: December 20, 2022

Source: Web Industries Inc.

Final Review: Empowering Textiles – India ITME 2022

GREATER NOIDA, India— December 15, 2022 — India ITME 2022 a textile engineering and technology B2B Exhibition hosted in IEML, Greater Noida, U.P. showcased more than 1,600 Live machinery and unveiled 69 new products with participation from 68 countries.

11th edition of India ITME displayed a never before quality standard and success in terms of amenities for exhibitors and visitors setting new benchmark for exhibitions in India. 87,400 unique visitors totaling to 1,10,000 footfalls over 6 days enjoyed an array of activities at the venue. Concurrent programs included technical discussions, CEO conclave, industry awards, wildlife photo gallery, alumni meet and Government to industry interactions enhancing the experience and raising the excitement of participants.

After a gap of six years, the event recorded a high flow of quality visitors which included industry members, technocrats, academicians, students and government officials apart from the delegations from 13 countries lead by senior officials of respective country who are looking to engage with India as sourcing and trade partner for developing their textile industry.

8th December 2022 the event was opened in accordance with Indian tradition of lamp lighting, Ganesh Vandhana & national anthem attended by Mr. S. Hari Shankar, Chairman, India ITME Society, Mr. Ketan Sanghvi, Hon. Treasurer, Mr. Sanjay Jayavarthanavelu, Chairman & Managing Director, Lakshmi Machine Works Ltd and Past Chairman, Mr. Sanjiv Lathia, Past Chairman Mr. Anuj Bhagwati, Chairman & Managing Director, ATE, Mr. Rakesh Kumar, Chairman, India Exposition Mart Ltd. along with other dignitaries who joined the simple ceremony.

The high-profile technology & engineering exhibition for textiles witnessed participation from leading Indian institutes for textile engineering such as VJTI Mumbai, DKTE Ichalkaranji where MOU’s were signed for knowledge exchange with Swiss Textile Machinery Association and Italian Textile Machinery Association, paving way for collaboration not only in business but also in technical education.

Eminent Panelists from Aachen University, Germany, Prof. Thomas Gries, Chairman, ITA, RWTH, Mr. Philipp Huber, RWTH Aachen, Mr. Kumar Jois, RWTH Aachen, Mr. Shantanu Bhat, RWTH Aachen, Ms. Gözdem Dittel, RWTH Aachen, Mr. Justin Kühn, RWTH Aachen, flew down to speak on latest technology topics.

The other renowned speakers included Mr. Uday Gill, CSO, Indorama, Dr. PKC Bose, MD, Enercon Mr. Braz Costa, CITEVE, Portugal, Mr. Gurudas Aras, Strategic Consultant, Mr. Ranjit Sasi, India Head, Reverse Resources, Ms. Khusbhu Maheshwari, Mr. Anurag Gupta, MD, Usha Yarns, Dr. Asim Tewari, IIT B, Dr. Rajalakshmi Natarajan, IIT Dharwad, Saatchi Doshi, Programme, Devyani Hari, Director Centre for Responsible Business (CRB), Dr. Mohit Raina, Raina Industries Pvt Ltd, Dr. Asim Tewari, IIT Bombay & Mr. Prashant Agrawal, Wazir Advisors.

The topics included by them included.

  • Transformation through Collaboration to achieve Sustainability
  • Hydrogen Storage systems – Trends in Europe and India
  • Role of Carbon in Fuel Cell Technology and Energy Conversion Devices
  • Fibre based materials for future energy applications
  • From fibres to component: What hydrogen storage technology have to do with textile technology?
  • Composites & Technical textiles for Energy Efficient Building
  • Multifunctional textile reinforced concrete structures for building applications
  • Strategic Innovation in Textile Value Chain
  • Need of Composites in the Energy Sector
  • Learnings from the transformation in the Apparel & Textile Industry in Portugal
  • Accelerating innovations for circular textiles

India ITME Society facilitated an interaction between industry and policy makers through CEO Conclave coordinated by Mr. Avinash Mayekar, Suvin. This session was attended by Shri Rohit Kansal, IAS, Additional Secretary, Ministry of Textiles, GoI, Shri P. Sathasivam, Ex-Chief Justice of India & Former Governor of Kerala, Ms. Prajakta L. Verma, IAS, Joint Secretary, Ministry of Textiles, GoI, Mr. Rajeev Saxena, Joint Secretary, Ministry of Textiles, GoI, Ms. Roop Rashi Mahapatra, Textile Commissioner, GoI. Industry sector were represented by Mr. T. Rajkumar, Chairman, Confederation of Indian Textile Industry, Mr. M. Sankar, President- Textile Machinery Division TMD (Operations), Lakshmi Machine Works Limited , Mr. Arun Kumar Garodia, Chairman Engineering Export Promotion Council of India (EEPC).

The six-day event carried forward its theme “Empowering Textile Through Technology” encouraging indigenously developed innovations and research by Indian companies. “Appreciating the best of the industry’ the 2nd edition of ITME awards felicitated companies like Lakshmi Machine Works Ltd. (LMW) , Rabatex Industries, Texfab Engineers (India) Pvt. Ltd., ColorJet India Ltd. Lakshmi Card Clothing Manufacturing Company Private Limited, S. A. Pharmachem Pvt Ltd for their outstanding products.

Giving importance to gender equality women entrepreneurs were also lauded for their success in an industry dominated by men. Ms. Deepa A Kumar, Founder & Managing Director, Yashram Lifestyle Brands Pvt. Ltd. & Ms. Neha Jhunjhunwala, Director, Sarla Performance Fibers Ltd. were selected for women entrepreneurship award. Proving to be a responsible industry body, India ITME Society not only encouraged modern innovations and technology but also provided inspiration for traditional skills and artisans of the nation. Under the category of best Master Weaver, Ms. Santoshi Kewat, Master Weaver, Maheshwari Creations, Madhya Pradesh & under category of Restoring Traditional Skills Ms. Kumari Raita, Soura Development Agency, Odisha were felicitated. Under the Category of Research Excellence – Dr. Rekha Ramakrishnan, SASMIRA Institute was felicitated.

The prestigious jury panel comprised of the stalwarts of Indian industry Mr. Uday Gill, Group Chief Strategy Officer, Indorama Ventures Ltd, Mr. Updeep Singh, President & CEO, Sutlej Textiles and Industries Ltd, Mr. Manohar Samuel, Advisor, R&D, Reliance Retail, Mr. Gurudas V Aras, India consultant to the ITA group, Germany, Mr. R. Anand, Partner, Eastern Engineering Company, Dr. Manisha Mathur, Joint Director, SASMIRA, Mr. Sanjiv Lathia, Past Chairman of India ITME Society, Mr. Ketan Sanghvi, Hon. Treasurer, Mr. Hari Shankar, Chairman unanimously recommended for Mr. S.P. Oswal for the honour of ‘Textile Maestro of industry’ of Indian textile industry.

A Technical symposium by Veermata Jijabai Technological Institute, Mumbai on the theme of “Reduce-Reuse-Recycle State of the Art in Textile Sector” was well appreciated and well received by officials as well as industry.

The organizer India ITME Society executed a seamless & flawless exhibition taking care of all round growth and progress of Indian textile industry creating opportunities for business, education, women, research etc. Amidst high voltage negotiations and discussions, art and culture also was given its due place whereby an evening of cultural Programme with dance, music and Fine Dine was organized for exhibitors. Once again working towards creating opportunities Pan India, North East folk art music and dance combined with fashion show and live music showcasing Maheshwari Sarees create using traditional handlooms by women Master Weavers of Madhya Pradesh were presented to global audience. The platform gave global exposure to our handicraft and traditional artisans especially women weavers from rural area of our Country. For those who enjoyed wildlife and photography as array of photographs captured by well-known photographer by Mr. Hari Santharam was on display which was enjoyed by one and all.

The six-day marathon event definitely set the foundation for upgradation and modernization of the textile industry of India which is the 2nd largest employment generation sector after agriculture. It also has motivated and enhanced the confidence of Indian textile engineering industry in their capabilities to cater to the demand of domestic market as well as competing in the global market.

India ITME 2022 opened the possibility and opportunities for overseas machinery manufacturers to tap the gaps in India and also connect with many buyers spread across 68 Countries.

The 11th edition of India ITME truly proved that it is a business platform which empowers and motivates the industry to the next level.

Showcasing the digital prowess of India, this edition of India ITME event digitalized all its services and provided event catalogues, visitor guide, help desk assistance, exhibitor manual etc. digitally reducing the print activity and thus saving quantum of paper usage.

The mega event concluded on a high note of enthusiasm empowering all its participants, infusing vibrancy into the industry facing geo-political turbulence amidst other challenges.

Posted: December 19, 2022

Source: India ITME Society

XSYS Announces Upcoming Price Increase On nyloflex® Products

WILLSTAETT, Germany — December 19, 2022 — XSYS has announced an upcoming increase in prices across its nyloflex® product range, which reflects the rise of input costs the industry experienced throughout 2022. Effective February 1, 2023, the company will implement a price increase ranging from 6 to 9 percent on nyloflex® flexographic printing plates.

The industry is facing a perfect storm with record inflation and continuous supply chain constraints. “During these exceptional times, it has been our priority to stick to our commitments: Deliver the highest quality products to our customers in time and in full. We are proud to be one of the most reliable suppliers in the market”, commented Friedrich von Rechteren, Global Commercial vice president at XSYS. “At the same time, our operations and procurement teams have turned around every stone to offset the input cost increases without jeopardizing our quality and service levels. Due to the success of these initiatives, the announced price increase reflects just a fraction of the input cost increases we are facing.”

Posted: December 19, 2022

Source: XSYS

Lenzing Adjusts Earnings Forecast Due To One-Off Effects From Restructuring, Currency Effects And Further Deterioration In Market Environment

LENZING, Austria — December 19, 2022 — The Lenzing Group, supplier of specialty fibers for the textile and nonwovens industries, is adjusting its earnings forecast for the 2022 financial year due to one-off effects related to the accelerated savings program as well as currency effects and a further deterioration of the market environment. Lenzing expects its earnings before interest, tax, depreciation and amortization (EBITDA) to be around EUR 250 mn.

The restructuring expenses result from parts of the savings program that was initiated in the third quarter due to the deterioration in the market environment and the development of earnings. The goal of the program is to reduce the cost base by at least EUR 70 mn on an annualized basis. Due to the accelerated progress, the restructuring expenses will already be included in the 2022 results.

As part of this cost reduction program, a social plan for the Lenzing site has been negotiated and resolved together with the works council. Implementation of the social plan will begin in the first quarter of 2023.Beyond this one-time effect, the operating result in 2022 will be negatively impacted by the devaluation of the US dollar against the euro in the fourth quarter. Lenzing, like the entire manufacturing industry, was increasingly affected by the extreme developments on the global energy and raw material markets in 2022. In particular since the third quarter, the market environment has once again deteriorated significantly and the deteriorating consumer climate is placing an additional burden on Lenzing’s business development.

Strategy remains unchanged

The long-term trend towards sustainable products remains unaffected by short-term economic distortions. Therefore, Lenzing sees itself confirmed in its long-term corporate strategy and will continue to drive growth with sustainably produced fibers and the implementation of its ambitious climate and sustainability goals, including the transformation to a circular economy model.

The results of the Lenzing Group for the 2022 financial year will be published on March 09, 2023.

Posted: December 19, 2022

Source: The Lenzing Group

AATCC Foundation Corporate Scholarship For Full- Or Part-Time Studies

RESEARCH TRIANGLE PARK, NC — December 19, 2022 — AATCC Foundation supports students studying in any textile-related field. Now, the AATCC Corporate Scholarship supports full- OR part-time students, including adult learners!

The AATCC Corporate Member Scholarship is a $1,000 scholarship available to AATCC Corporate Member employees and their children. The scholarship recipient also receives a free one-year AATCC student membership! This scholarship is awarded for the Fall semester only.

Undergraduate and graduate students enrolled in an accredited US college or university are eligible for the new scholarship. This includes part-time and community college students! The application is open to all fields of study leading to further contributions in the textile industry.

Selection criteria include:

  • Demonstrated involvement or leadership in textile community;
  • Intention and potential for future contribution to the textile community;
  • Financial need;
  • Academic performance. While there is no minimum GPA or standardized test score, these items may be taken into consideration for selecting recipients; and
  • Preference to AATCC individual (including student) members.

Applicants can apply for this and 15+ other scholarships with one simple application on the AATCC website. Visit www.aatcc.org/foundation today to apply or to learn how you can support future textile professionals.

Posted: December 19, 2022

Source: AATCC Foundation Inc.

Texworld Evolution New York City Educational Program Returns With An Impressive Line-Up Of Industry Expert Speakers And Top Brands

NEW YORK CITY — December 16, 2022 — Texworld Evolution New York City, the largest sourcing event on the East Coast, returns to the Javits Center January 31-February 2, 2023, with a top-notch educational line-up for Textile Talks, Explore the Floor, and the Lenzing Seminar Series.

More than just sourcing, the co-located event serves as a forum for the industry to learn and stay up to date on the latest innovations in textile and state of the trade industry. The winter 2023 program is designed to offer insightful and informative sessions for every role and level of experience across all segments of the industry.

Seminar Topics and Speaker Highlights:

Sustainability, Sourcing, Circularity and More – Textile Talks

Join moderator Andrea Kennedy, VP of Sustainability at Material Exchange, as she leads a discussion on ways brands are shifting to better and more sustainable product supply chains. Joining this discussion are panelists Katina Boutis, Director of Sustainability at Everlane, and Julie Verdugo, Director of Sustainability and Social Impact at Free People and Urban Outfitters, of URBN Inc.

From Linear to Circular – Lenzing Seminar Series

In a commodity industry such as fashion, it is important that the product’s life cycle become more circular to combat negative impact on people and the planet – from the beginning of the supply chain, to the end of its life. However, the way brands and suppliers approach circularity continues to vary widely. How are industry leaders across the supply chain addressing circularity in a way that is accessible and practical for becoming the best industry practices? Moderator, Erica Redd, Business Development Manager at Lenzing Fibers, will lead the discussion on current and future innovations, issues and obstacles surrounding creating a circular supply chain in a global economy, and the need for collaborations and ingenuity for the sake of our planet and people along with panelists Katie O’Hare, Director of Sustainability at J. Crew and Katie Tague, VP Denim Marketing & Sales at Artistic Millners.

Understanding the Next-Gen Materials Revolution – Textile Talks

The Material Innovation Initiative (MII) is a think tank focused on cultivating a global market for environmentally preferable and animal-free materials across the fashion, automotive, and home goods industries. MII’s Chief Partnerships Officer, Elissa Rosen, and Fashion Design Specialist, Thomasine Dolan, will delve into next-gen materials, the state of the industry, and consumer research. They will also discuss what brands should expect working with next-gen material companies.

Technology and Transparency: The Future of a Sustainable Supply Chain – Lenzing Seminar Series

As textile technology improves, the necessity for sustainable solutions remains paramount. New innovations include block-chain technology and digital passport creation, which aim to increase brand transparency. This panel will bring together industry game changers to discuss the intersection of technology, transparency and the increasingly global and complex fashion economy, and what this means for the consumer.

Gauging the 2023 ‘Shoeconomy’: Prospects, Projections & Pitfalls – Textile Talks

Join Gary Raines, Chief Economist for FDRA as he discusses the forces coloring the economic landscape and how this backdrop may impact footwear demand in the new year. From broad economic trends to more granular issues impacting the footwear marketplace, we will examine a range of issues likely to impact the consumer’s appetite for footwear in 2023.

Registration for the winter event is open. The 3-day educational program is complementary and open to all registered attendees. Seating is available on a first-come-first-serve basis.

Full seminar schedule to follow.

For more information on the co-located event or to register, visit us online: www.texworldevolutionnyc.com

Posted: December 16, 2022

Source: Messe Frankfurt North America

The EU Textiles Industry Is Highly Concerned About The Potential Loss Of Competitiveness, Caused By The EU’s Inaction Of The Energy Crisis, And Chinese And US Subsidies To Domestic Industry

BRUSSELS — December 16, 2022 — Following yesterday’s European Council summit and its conclusions on the measures to tackle the energy crisis, the European textiles industry is extremely concerned about the fast loss of competitiveness of Europe and demands urgent action to save the industry.

The chain of factors determining this sharp decline in our competitiveness is twofold. First, the energy cost in Europe is more than 6 times higher than in the United States, China, and neighboring countries. This factor alone has almost erased the business case for producing in the European Union. At present, many textiles and clothing companies are producing at net loss or have shut down production. The industrial conditions have worsened in such a way that there is no business case to invest in Europe or buy products produced or processed in the EU. It is only the sense of responsibility of our entrepreneurs towards the European society that is keeping the plants and production running.

Secondly, while the European Union is passive and extremely slow in articulating a credible and effective response to the energy crisis, our main international competitors and trade partners (China, India and the US respectively) have developed comprehensive state-aid frameworks for their domestic industry despite not being affected by this crisis at all. The latest example is the 369-billion-dollar scheme of the Inflation Reduction Act rolled out by the Biden administration.

Recent trade data[1] already indicate a loss of global competitiveness: imports to the EU have grown tremendously in 2022 (+35% year-to-date). It is also evident that the surge in imports goes in parallel with the surge of natural gas price. It is expected that energy prices will remain high and volatile, opening the door for imports to gain substantial market shares in the EU.

The chart indicates the development of the Title Transfer Facility (TTF) until September 2022 since Eurostat data for Q4 2022 has not been published yet. Euratex is aware that the market situation has eased somewhat since in the past months, but the crisis remains because gas prices are still extremely high in comparison to last year. This suggests that the current loss of competitiveness of the EU manufacturing will not be recovered even with lower energy prices, unless measures are taken to correct the unlevel playing field on which the EU industry has to operate in the international markets. Only with an ambitious and comprehensive  relaunch plan at EU level, Europe will be able to restore its credibility as a global manufacturing powerhouse and investments .

If the status quo is maintained, not only the EU will not be able to recover its competitive position on the global business stage, but it will also fail its plans to reach zero-net emissions and achieve circularity. It is evident that these ambitions – that our industry is passionately supporting – need massive capital investments. However, in the current scenario we can only expect an investments diversion to markets where governments are actively supporting those investments and energy costs are much lower – regardless of their fossil- or non-fossil origin.

Our members – the whole value chain, from fibres, nonwoven, to fabrics, clothing manufacturers – are facing unprecedented pressure deriving from the current geopolitical situation, the new macroeconomic conditions and unfair competition from third states. The situation is going to worsen if no emergency action is taken, especially because a recession is expected in the coming months.

The main structural component of the EU manufacturing are SMEs: these are economic actors that are particularly exposed to the current crisis as they do not have the financial leverage to absorb the impact of energy prices for much longer. Urgent EU action is needed to ensure their survival.

EURATEX calls on the EU political leaders in the Commission, in the European Council and in the national capitals to:

Raise the ambition and adopt a comprehensive approach at EU level: energy, state-aid and trade policy must be brought together in a single strategy with concrete emergency solutions and with a clear SME dimension;

Let all hesitations aside and adopt a meaningful price cap on natural gas wholesales, that should be ideally no higher than 80 euro/MWh. In parallel, it should also be ensured that electricity prices are brought to a sustainable price level;

Change the European posture on state-aid, even temporarily. An ambitious plan of investments and state-aid in green technologies to support the industrial transition should be rolled out.

Such a plan, however, should not be conceived as a retaliation against our most necessary and like-minded trade partners. Access to finance and markets must be safeguarded for all those actors who are capable and willing to invest in Europe, on the basis of reciprocity. In   these challenging times for geopolitical stability, ensuring strong trade ties with our traditional allies and partners is of utmost importance. The roll-out of an investment and state aid plan should not interfere, but rather support, the dialogue with the US (and other partners) and the deepening of our trade and investment partnership. Such a dialogue should be accelerated in the context of the TTC as well as at WTO level.

[1] If imports were to be considered in volumes rather than in value, the chart would present an even worse trade performance and competitiveness of the EU .

Posted: December 16, 2022

Source: EURATEX

Orion Performance Compounds Establishing Operations In Kershaw County, S.C.

COLUMBIA, S.C. — December 16, 2022 — Orion Performance Compounds Inc. today announced plans to establish operations in Kershaw County. The company’s $13 million investment will create up to 54 new jobs.

A manufacturer of highly engineered thermoplastic compounds, Orion Performance Compounds will blend melted resins with carbon fiber, lubricants and other additives to form custom materials for use in final markets such as automotive, aerospace, medical and more.

Locating at 15 Mesa Lane in the Heritage Pointe Industrial Park in Lugoff, the company will open a new 50,000-square-foot facility for the manufacturing and distribution of its materials.

Operations are expected to be online by the second quarter of 2023.

Individuals interested in joining the Orion Performance Compounds Inc. team should email resumes to the company.

The Coordinating Council for Economic Development approved job development credits related to this project. The council also awarded a $300,000 Set-Aside grant to Kershaw County to assist with the costs of building improvements.

“The Lugoff, S.C. site was selected after an extensive multi-state search,” said Orion Performance Compounds COO Tom Drye. “The state of S.C. and Kershaw County were very welcoming to our planned business and removed any hurdles along the way. Combined with convenient access to multiple interstate highways with which to service a large geographic customer base, the selection process was made easy.”

“Congratulations to Orion Performance Compounds Inc. on establishing operations in South Carolina,” said Governor Henry McMaster. “They are joining the increasing number of companies that call our state home, making a positive impact on our communities and economy every day.”

“As an upcoming manufacturer of key materials used in the automotive and aerospace industries, Orion Performance Compounds Inc. is a natural fit for South Carolina,” said Secretary of Commerce Harry M. Lightsey III. “We celebrate the company’s new facility in Kershaw County and look forward to building a strong partnership.”

“It’s a great day in Kershaw County as we welcome Orion Performance Compounds Inc. to our community,” said Kershaw County Council Chairman Julian Burns. “We invested in ourselves so industry could invest more. The Heritage Pointe Spec Building is now home to Orion and 54 new, well-paying technical jobs. This announcement provides a welcome economic boost and great addition to Kershaw County’s diverse and growing business sector.”

“Congratulations to Orion Performance Compounds Inc. and our partners in Kershaw County on today’s announcement,” said Central SC Alliance Chairman Matthew Shaffer. “The company is welcomed with excitement to the Heritage Pointe Industrial Park and joins a group of reputable manufacturers within the park and throughout the county.”

Posted: December 16, 2022

Source: South Carolina Office of the Governor

Oerlikon Signs Agreement To Acquire Riri; Builds Leadership Position In Luxury Market

PFAEFFIKON, Switzerland — December 16, 2022 — Oerlikon announced today that it has signed a definitive agreement to acquire Riri, a leading provider of coated metal accessories for the luxury fashion industry. This transaction marks a milestone in Oerlikon’s growth strategy and diversifies Surface Solutions’ offerings and market access. The transaction is expected to close in the first quarter 2023, subject to regulatory approvals and standard closing conditions.

“Riri is highly complementary to our existing luxury business and will reinforce our fashion jewelry and metallic components for leather goods. It is the ideal next step after our acquisition of Coeurdor in 2021 and will make us a market leader and an integrated provider with a complete offering of coated luxury metalware for high-end fashion brands,” said Michael Suess, executive chairman, Oerlikon. “The acquisition will drive cross-selling and strengthen our footprint in the global luxury metalware market, which sees mid- to-high single-digit growth rates annually.”

“Our portfolio, particularly in zippers and buttons, is an excellent fit to Oerlikon’s strengths in coated metal-based fashion components. Together, we are ideally positioned in Italy and France — the two major European fashion hubs — and can provide a complete offering to fashion customers,” said Renato Usoni, CEO, Riri. “We are excited to join Oerlikon as it will allow us to accelerate the luxury goods industry’s sustainability transition to greener technology by applying technologies such as Oerlikon’s PVD1.”

Riri, headquartered in Mendrisio, Switzerland, is a market leader in metal accessories manufacturing, with a wide product range and unique offering. The company supplies global leading brands in the luxury fashion industry and has a strong foothold in the Italian luxury market. The company has more than 1 100 employees and expects to generate sales of EUR ~170 million (CHF ~165 million) in 2022.

1PVD, or physical vapor deposition, coating is a thin-film coating solution that is more environmentally friendly than traditional processes such as chrome plating.

Posted: December 16, 2022

Source: Oerlikon

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