Rieter: Market Success Through Technology Leadership, Profits Strongly Impacted By Significant Cost Increases And Supply Chain Bottlenecks

WINTERTHUR, Switzerland— July 19, 2022 — Rieter continued to be successful in the market in the first half of 2022. Based on the company’s technology leadership, innovative product portfolio and the completion of the ring- and compact-spinning system, a high order intake and a significant increase in sales were generated. The increase in sales was achieved even though preproduced deliveries in the three-digit million range had to be postponed until the second half of 2022. The order backlog is at a record level. Despite higher sales, the significant increase in material and logistics costs, additional costs for compensation of the material shortages and the expenditure incurred for the acquisition in the years 2021/2022 resulted in a loss. Rieter is implementing an action plan to increase sales and profitability. The sales process for the remaining land owned by Rieter was initiated.

Order Intake and Order Backlog 
Rieter posted an order intake of 869.4 million Swiss francs ($897.5 million), which included 176.6 million Swiss francs ($182.3 million) from the businesses acquired in the years 2021/2022. As expected, demand has thus returned to normal compared with the exceptionally high figure for the prior-year period, but remains well above the average figure for the last five years of around 570 million Swiss francs ($588.5 million) (first half 2021: 975.3 million Swiss francs ($1,007 million), first half 2022 excluding acquisition effect 692.8 million Swiss francs ($715.2 million)).

The regional shift in demand with investments in additional spinning capacity outside China along with investments in the competitiveness of Chinese spinning mills continues. Rieter benefits from its technology leadership, the innovative product portfolio and the completion of the ring- and compact-spinning system through the acquisition of the automatic winding machine business. The largest order intakes came from India, Turkey, China, Uzbekistan, and Pakistan.

On June 30, 2022, the company had an order backlog of more than 2,100 million Swiss francs ($2,168 million)(June 30, 2021: 1,135 million Swiss francs ($1,172 million)). Cancellations in the reporting period amounted to around 5 percent of the order backlog.

Sales

The Rieter Group posted sales of 620.6 million Swiss francs ($640.1 million), which included 68.9 million Swiss francs ($71.1 million) from the businesses acquired in the years 2021/2022 (first half 2021: 400.5 million Swiss francs ($413.5 million)).

As a result, sales were significantly higher than in the prior-year period, although preproduced deliveries, which mainly affected the Business Group Machines & Systems, in the three-digit million range had to be postponed until the second half of 2022. The reasons for the postponements were the COVID lockdown in China and supply chain bottlenecks.

EBIT, Net Result and Free Cash Flow
Rieter posted a loss of 10.2 million Swiss francs ($10.5 million) at the EBIT level in the first half of 2022.

Earnings were impacted by significantly higher material and logistics costs. The
price increases already implemented are having a delayed effect, mainly in the Business Group Machines & Systems, and were therefore unable to compensate
for the high increase in costs. In addition, costs in connection with material shortages negatively impacted profitability. The result also includes acquisition-related expenses of 11.2 million Swiss francs ($11.6 million).

The loss at the net result level was 25.2 million Swiss francs ($26.0 million), of which 17.6 million Swiss francs ($18.2 million)was due to the acquisition.

Free cash flow was 57.1 million Swiss francs ($59 million), attributable to the build-up of inventories in connection with the high order backlog and postponed deliveries.

Action Plan to Increase Sales and Profitability

Rieter is implementing a comprehensive package of measures with the aim of increasing sales and profitability in the second half of 2022.

The package focuses on two main priorities: Firstly, Rieter is continuing to systematically implement price increases while working to improve the quality of margins of the order backlog, so as to compensate for cost increases in materials and logistics.

Secondly, Rieter is working closely with key suppliers and is developing alternative solutions to eliminate material bottlenecks, as far as possible, in order to safeguard deliveries.

Rieter Site Winterthur

The Board of Directors has decided to begin the process for the sale of the remaining land at the Rieter site in Winterthur (Switzerland). In total, around 75,000 square meters of land will be sold. The Rieter CAMPUS is not part of this transaction; the construction project is progressing according to plan.

Outlook

As already reported, Rieter expects demand for new systems to normalize further in the coming months. Due to the capacity utilization at spinning mills, the company anticipates that demand for consumables, wear & tear and spare parts will remain at a good level.

For the full year 2022, due to the high order backlog and the consolidation of the businesses acquired from Saurer, Rieter expects sales of around 1,400 million Swiss francs ($1,445 million)(2021: 969.2 million Swiss francs ($1,001 million)). The reduced sales forecast compared to early 2022 (March 2022: 1,500 million Swiss francs ($1,549 million)) reflects the impact of global supply bottlenecks. The realization of sales revenue from the order backlog continues to be associated with risks in relation to the well-known challenges.

Despite significantly higher sales, Rieter expects EBIT and net result for 2022 to be below the previous year’s level. This is due to the considerable increases in the cost of materials and logistics, additional costs for compensation of material shortages as well expenses in connection with the acquisition in the years 2021/2022. Despite the price increases already implemented, global cost increases continue to pose a risk to the growth of profitability.

As market and technology leader, Rieter will benefit from the exceptionally high order backlog and the continuation of the regional shift of demand.

Posted: July 19, 2022

Source: Rieter Holding Ltd.

WNDR Alpine Unveils The All-New Intention 108 Backcountry Ski With SpiralMade™ Material Developed From Reclaimed Manufacturing Waste And Designed For Performance

SALT LAKE CITY & ALAMEDA, Calif. — July 18, 2022 — WNDR® Alpine — the outdoor brand launched by advanced materials company Checkerspot Inc. — debuted its new ski lineup today, featuring the Intention 108, a ski geometry with the brand’s signature performance boosting AlgalTech® biobased materials and its all new palette of SpiralMade™ materials made from recycled production waste.

The Intention 108 takes the place of WNDR Alpine’s inaugural Intention 110 ski in the lineup, embodying the same intuitive feel, with a more purposeful inclination for aggressive, human-powered big mountain skiing in a diverse range of snowpacks.

“When we launched the original Intention 110 in 2019, it was our first and only shape in the lineup, so it had to do absolutely everything,” said Matt Sterbenz, general manager of Wintersports. “Since the introduction of the Vital 100 and Reason 120, we’re now well equipped to support a wider spectrum of snowpacks and skiing styles. As a result, it was time to rethink the Intention to hone in on the areas where we believe a medium waist width backcountry ski should truly excel. The new Intention 108 remains the everyday choice for most skiers in our community, as it continues to provide ample flotation in a variety of snowpacks but now with increased maneuverability as a result of its deeper sidecut. What I am most excited about is that this new shape will also come in more lengths than ever and two camber profiles to dial in the ultimate set up.”

The Intention 108 features a more consistent stiffness profile than its predecessor, a 21.5m sidecut in a 188cm length, with gradually rockered tips and tails. Carrying on the traditions of its predecessor, the Intention 108 is available in both Camber and Reverse Camber profiles and lengths suitable for skiers 5’1” and up.

Debuting in WNDR Alpine’s new lineup are SpiralMade™ materials — embodied by a reuse of production waste developed in-house by WNDR Alpine’s team of designers, engineers, and materials scientists. These materials enter the market in the form of the Spiral Plate — a recycled binding retention insert offering approximately 35 percent better binding retention strength than traditional maple binding inserts. For snowboards, Spiral Plate insert packs virtually eliminate the ability for insert spin along with a 5 percent increase in torque and pull-out strength relative to conventional aspen construction.

The debut of SpiralMade represents a shift in mindset away from conventional narratives around recycling in consumer products. “It’s incredibly valuable to make one’s own materials and products more easily recyclable,” said Daniel Malmrose, vice president of Product Innovation. “It’s a separate challenge to put one’s own recycled outputs directly into a product in a way that improves the product. Using recycled materials to reach a tangible performance benefit is imperative if we’re to make recycling more viable in the snowsports industry.”

“We embraced the concept of ‘spiral fabrication’ as a play on circularity, acknowledging that while not every material can be recreated in an infinite cycle, we have a very real ability to reconstitute waste material into a new form that’s still valuable,” said Pep Fujas, professional skier and vice president of Marketing and Product Development. “Now that the concept has been demonstrated, we’re excited to bring SpiralMade to backcountry athletes this season.”

The 2023 WNDR Alpine lineup is available for preorder today via wndr-alpine.com.

Posted: July 18, 2022

Source: Checkerspot Inc.

The LYCRA Co. Showcases Denim Innovations At Kingpins New York

WILMINGTON, Del. — July 18, 2022 — The LYCRA Co., a global developer of innovative and sustainable fiber and technology solutions for the apparel and personal care industries, is exhibiting its latest products for denim in person at Kingpins New York July 20-21 at Pier 36 in New York City. The company is showcasing samples made with LYCRA® ADAPTIV fiber, LYCRA DUAL COMFORT technology, and its other industry-leading denim fibers.

LYCRA ADAPTIV fiber is a patent-pending revolutionary fiber that creates “one-size-fits-more” garments that adapt to fit different body shapes within a size. It also delivers a second-skin effect with excellent recovery and comfortable holding power.

“Consumers have different body types and this can impact garment fit and comfort,” said Rita Ratskoff, senior strategic manager – denim, The LYCRA Co. “By offering greater shape tolerance, LYCRA ADAPTIV fiber has the potential to reduce apparel returns and manufacturing waste by enabling the undercutting of patterns.”

LYCRA DUAL COMFORT technology combines the comfortable fit of stretch fabrics, the cool and dry comfort of moisture management, and LYCRA T400® A EcoMade fiber, made from 68-percent sustainable resources including recycled and renewable content.

In The LYCRA Co. booth, show visitors can also find innovative denim solutions from the LYCRA XTRA LIFE™ brand’s family of innovative denim solutions, including LYCRA Anti-Slip fiber, LYCRA dualFX® technology, and LYCRA T400® fiber. They create long-lasting, durable garments that enable designers to develop heavy wash downs and distressed looks without fear.

For garment makers seeking sustainable offerings that reduce waste, denim that uses recycled materials will be on display. LYCRA EcoMade fiber contains 20 percent recycled content, and COOLMAX® and THERMOLITE® EcoMade technologies are made from 100-percent textile waste.

“The LYCRA Company is committed to developing an innovative range of sustainable solutions made with renewable and recycled content that will enhance the performance of our customers’ offerings while minimizing their environmental impact,” said Jean Hegedus, sustainability director, The LYCRA Co. “We are excited to be in person at Kingpins again to promote our sustainable denim fibers that help reduce waste and set the stage for circularity.”

Hegedus will join a panel discussion at Kingpins on July 21 at 11:30 a.m. entitled, “In Conversation: Denim Changemakers.” This panel brings together representatives from companies in the United Nations Conscious Fashion and Lifestyle Network, whose members are accelerating change in the denim sector. Participants will discuss industry commitments to increase sustainable practices and advance collective action to reach the United Nations’ Sustainable Development Goals.

Kingpins New York is an invitation-only event for the denim community at Pier 36 / Basketball City in Manhattan.

Posted: July 18, 2022

Source: The LYCRA Company

Techtextil And Texprocess 2022 Set Benchmarks For Future-Oriented Textile Trade Fairs

FRANKFURT, Germany — July 18, 2022 — From June 21-24, 2022, the international trade fairs Techtextil and Texprocess focused on sustainability and innovations and provided the international audience with an optimum setting on seven hall levels for exchanging information and establishing and strengthening business relationships. Quality meets quantity: this motto was fulfilled once again this year. 94 percent of all visitors and 87 percent of all exhibitors expressed themselves as very satisfied to satisfied with their participation in the trade show. These very good results are in line with those of the previous events in 2019.

With a degree of internationality of 66 percent, a total of 48,000 visitors from 105 countries attended the first edition of Techtextil and Texprocess since the Corona pandemic and used the opportunity to visit both trade fairs. The excellent figures of around 44,000 visitors at Techtextil and 22,000 visitors at Texprocess (each including visitors transferring from Texprocess and Techtextil respectively) confirm the relevance of these trade fairs for the textile and textile technology industries.

1,141 exhibitors at Techtextil from 47 countries and 182 exhibitors at Texprocess from 29 countries, including twelve international country pavilions and numerous joint stand participants, presented their products, technologies and new developments. In addition to German exhibitors, companies from Italy, France, Turkey and Switzerland were most frequently represented. The extensive and attractive accompanying program, such as the Techtextil and Texprocess Forums, the Techtextil and Texprocess Innovation Awards, the Techtextil Special Show “Performance Textiles in Fashion” or the Texprocess Special Show “Denim Future Lab” with integrated Speakers Corner, enabled discussions and showed exceptional textile and textile technology solutions, also with regard to sustainability.

This shows: Visitors and exhibitors rely on personal encounters on the exhibition grounds. In addition, the digital offerings were also used, such as the apps and the Digital Extension offered for the first time, which made the trade fairs an online experience.

“The first edition of Techtextil and Texprocess since the Corona pandemic fulfilled the industry’s strong desire to finally come together again in person. We are pleased that the re-start was excellently received by exhibitors and visitors worldwide. At the Frankfurt exhibition center, we were able to create a place for industry representatives to exchange ideas on the future topics of the textile and apparel industry,” reports Olaf Schmidt, vice president Textiles & Textile Technologies, Messe Frankfurt.

“With the focus on sustainability and innovations, we have created real added value for visitors. Never before has there been so much interest in innovative and sustainable solutions. Techtextil and Texprocess offer an optimal platform for the presentation of progressive products and support the future-oriented further development of the industry,” explains Michael Jänecke, director, Brand Management Technical Textiles & Textile Processing, Messe Frankfurt.

Elgar Straub, managing director of VDMA Textile Care, Fabric and Leather Technologies (TFL), draws an optimistic conclusion from this year’s Texprocess: “Thanks in particular to the many high-level and international visitors, the mood was positive all around — despite current uncertainties and the resulting cautious expectations of Texprocess exhibitors prior to the fair. At the fair, in personal exchanges, it nevertheless became clear once again that, precisely because the textile world is currently changing rapidly, there is an immense need for investment in technology. Automation, sustainability and flexibility are just the most important keywords here.”

Exhibitor statements on Techtextil and Texprocess 2022

New products and further developments were of particular importance at this year’s Techtextil and Texprocess. In a time characterized by social and economic challenges, labor shortages, supply bottlenecks or shortages of raw materials, progressive approaches to solutions are essential. At the leading trade fairs, it became clear that the companies have used the time since the last Techtextil and Texprocess intensively for research and development and were able to present numerous promising products.

“After the Corona break, it was of great importance to finally reconnect with the international industry at Techtextil and to meet our many business partners in person that we have not been able to meet in person for a long time. We also made some interesting new business contacts,” said George Papagiannis, Sales & Marketing manager at Thrace Nonwovens & Geosynthetcs S.A., Greece.

“For us, Texprocess was a great success. We are very satisfied with the quality and the results of the conversations with the visitors. It was a great pleasure for us to meet so many partners and customers again in person after a long time of major travel restrictions. Digital communication is a must nowadays and certainly makes many things easier, but it cannot completely replace face-to-face communication and knowledge transfer. We welcomed many new business partners at Texprocess, but also long-time friends and familiar faces,” said Henry Diekmann, head of Marketing at Dürkopp Adler, Germany.

“At this year’s Techtextil, our Portuguese companies achieved very good results. Our conclusion is that the success of the trade fair in 2022 continued on seamlessly from 2019 — and we are very pleased with this finding. Most of our companies were also very pleased with the number of new customers looking for new European suppliers,” said Manuel Serrão, CEO at Selective Moda.

“This year’s trade fair contained an element of new beginnings. In an ad hoc survey, over 70 percent of our members said that Techtextil was the most important or only trade fair for their product portfolio. Over 90 percent rated the number of visitor contacts as good or very good. The quality of contacts was rated as good by 75 percent and very good by 17 percent. All those we surveyed expressed their intention to exhibit in Frankfurt again in 2024,” says Stefan Schmidt, head of Divisions Yarns – Fabrics – Technical Textiles at IVGT e.V..

“From the point of view of Swissmem / Swiss Textile Machinery, this year’s edition of Techtextil presented itself as extraordinarily successful. The long overdue refreshment of existing customer relationships and the establishment of new contacts were very valuable. Particularly worth mentioning is the high quality of the visitors and the meetings that took place were at equal level between decision-makers. We will certainly be returning again in 2024,” summed up Ernesto Maurer, president of the Swissmem Swiss Textile Machinery Association.

“It was a good trade show. We had more than 400 visitors from 51 countries and were able to establish many successful business relationships from Europe. Texprocess was also the ideal platform for the launch of our new software product 2DCAD and our new Vison system. This was important because visitors to Texprocess come primarily to see innovations or new products,” says Fabrizio Giachetti, managing director of Morgan Tecnica S.p.A., Italy.

From Innovation Awards to Sustainability: an accompanying program with real added value

But nowhere was the future of the textile industry as close as at the Techtextil and Texprocess Innovation Awards. Thirteen winners from seven categories were selected by two international juries of experts, honored at a public awards ceremony and exhibited on all four days of the fair. In addition to the first woven heart valve, production processes using sustainable materials, such as pineapple peels or a novel cold glue robot, all received a Techtextil or Texprocess Innovation Award.

The textile industry is exploring news paths. This is also the case with regard to sustainability. The interest in sustainable and resource-saving materials and processing methods or recycling solutions has never been so great. This has also long since entered the consciousness of manufacturers. This year, 66 exhibitors were marked with Sustainability@Techtextil or Sustainability@Texprocess and could thus be specifically visited by visitors. Exhibitors with sustainable offerings were able to submit their products for review by an international group of experts and were highlighted after successful review.

Sustainability was also a topic at the Techtextil and Texprocess forums. “Circular economy in the textile industry. A Positioning”, “Virtual Fabrics: Structure and Multispectral Color Prediction” or the keynote “After the Crisis is Before the Crisis” provided high-quality information opportunities and unique insights into current industry topics on all four days of the fair. The patron of the Techtextil Forum was EURATEX – The European Apparel and Textile Confederation. The Texprocess Forum program was organized by DTB – Dialog Textil-Bekleidung e.V. and VDMA TFL.

A special highlight was the Techtextil special show “Performance Textiles in Fashion”. Here, visitors experienced first-hand how functional textiles are used in the apparel industry. Smart textiles with electrodes and stretchable cables for electro-muscle stimulation, heatable clothing or bags made of particularly resistant material provided inspiration and amazed the audience.

The Denim Future Lab took visitors into the world of the denim industry. The Texprocess special show focused on sustainable materials and processing as well as luxury denim. The Speakers Corner, which was co-organized by the Transformer Foundation, invited visitors to exchange ideas and engage in discussions and was very well attended.

The next Techtextil and Texprocess will take place from April 23-26, 2024.

Posted: July 18, 2022

Source: Messe Frankfurt Exhibition GmbH

Corpus Christi Polymers Plant In Texas Resumes Construction

BANGKOK, Thailand — July 19, 2022 — Indorama Ventures Public Co. Ltd. (IVL), a global sustainable chemical company, announced that construction of an integrated PTA-PET plant in Corpus Christi, Texas, will resume in August this year. Corpus Christi Polymers LLC (CCP), a partnership between three companies, is expected to begin production in 2025 and ensure continued cost-competitive production to support the growth of IVL’s global PET operations into the next decade.

CCP was formed in 2018 as a joint venture between Indorama Ventures Corpus Christi Holdings LLC, a subsidiary of Indorama Ventures; DAK Americas LLC, a subsidiary of Alpek S.A.B. de C.V.; and APG Polytech USA Holdings, Inc,  a subsidiary of Far Eastern New Century, following the purchase of a partially constructed facility of M&G Resins in Corpus Christi. Each partner will procure its own raw materials and receive one third of the PTA and PET produced at the facility to sell and distribute independently.

Construction of the state-of-the-art plant is resuming following a period of pandemic-related disruptions. Through the pandemic, the partners firmly resolved to continue planning amid continued robust demand for PET packaging and the need for shorter supply chains. As the impact of the pandemic eased in 2022, the management team was strengthened in preparation for the resumption in activities.

CCP is expected to be the largest vertically integrated PTA-PET production plant in the Americas, and IVL’s biggest greenfields project in the U.S. since the development of the AlphaPet production facility at Decatur, Alabama in 2009. The new Texas facility is a significant addition to IVL’s leading global footprint, and will expand its coverage to customers across the U.S. The plant’s vertical integration optimizes PTA-PET production and, together with the availability of raw materials Paraxylene and Mono Ethylene Glycol in the U.S., ensures long-term competitive-cost supply for IVL’s locally integrated polyester value chain.

The facility will have nominal annual capacities of 1.1 million metric tons of PET and 1.3 million metric tons of PTA, shared between the partners. It will employ three state-of-the-art technologies: PTA: IntegRex®, PET melt: Invista, and PET solid state: Easy Up (HCIRR – Horizontal Continuous slightly Inclined Rotary Reactor).

CCP is adding to its leadership team to prepare for the new growth opportunities. Russell Wilson will leave his role with IVL as head of Manufacturing Americas, Combined PET, to take up a new role as CEO of CCP from 18 July. He brings 30 years of Aromatics and PET leadership experience including prior roles with Amoco and BP before joining IVL. Todd Hogue, IVL’s global head of EH&S, replaces Wilson as IVL’s representative on CCP’s Board. Michael Day joined CCP as project director in June and brings 34 years of construction leadership experience including senior roles with Bilfinger, KBR, and CB&I. Jeff Shea will assume the role of COO on 18 July. Shea has been in the PET industry for the last 22 years and has managed PET sites for the last 17.

Sunjay Ahuja

Sanjay Ahuja, executive president, Combined PET, Indorama Ventures, said: “We welcome the resumption of construction at the Corpus Christi facility and look forward to working with our partners towards full production in 2025. As we moved past the pandemic’s peak, conditions improved to the point where our firm resolve can now be rewarded.”

Muthukumar Paramasivam, business head – Integrated PET Americas, Indorama Ventures, said, “Our customers – many of them global household brands – are encouraged as the Corpus Christi facility adds significantly to our reach, and our U.S. coverage in particular. This is a further evidence of how IVL’s resilient integrated model and global footprint supports us through disruptions and allows us to come back even stronger.”

Posted: July 18, 2022

Source: Indorama Ventures Public Company Limited (IVL)

MycoWorks Commercializes Reishi™, The World’s First Plastic-Free, Mycelium Leather Alternative, With Luxury Hatmaker Nick Fouquet 

EMERYVILLE, Calif. — July 18, 2022 — Today, biomaterials innovator MycoWorks announced the commercial launch of the first fashion items made with its flagship mycelium material, Reishi™. The Reishi Collection by luxury hatmaker Nick Fouquet includes the Reishi Boletus, Coprinus, and Morchella hats, now available in limited runs on NickFouquet.com.

“We are elated that consumers can now wear and enjoy designs made with Reishi,” said Sophia Wang, MycoWorks co-founder and chief of Culture. “MycoWorks partners with craftspeople and brands with whom we share artistic values, which is why we’ve partnered with famed hatmaker, Nick Fouquet. This Reishi collection exhibits the unique hand feel and versatility of our material.”

Unlocking new design possibilities for brands, MycoWorks’ Fine Mycelium technology engineers mycelium — the infinitely renewable root structure of mushrooms — as it grows to designers’ exact specifications for hand feel, texture, strength, and functionality. The result, Reishi, is a luxury, natural material that matches the performance of the highest quality animal leathers with lower environmental impact.

For the Reishi Collection, Nick Fouquet leveraged all-natural, 100-percent plastic-free Reishi as the base material for the Reishi Boletus and as decorative trims for the Coprinus and Morchella.

“Our clients want luxury made from materials that feel good and that they feel good about,” said Nick Fouquet. “MycoWorks’ Reishi is the only leather alternative we’ve seen that matches the beauty, quality, and functionality of traditional leather. Reishi feels organic and rich, and has a beautiful, worn patina that we showcase through the distinct styles of our Reishi Collection.”

The commercial availability of Reishi represents a major leap for fashion, which has long been seeking plastic-free, animal-free leather alternatives that meet the quality needs of high-end fashion with a lower environmental footprint.

This year, MycoWorks will continue commercializing Reishi with a range of carefully selected brands, spanning heritage brands and new, independent designers.

Posted: July 18, 2022

Source: MycoWorks

Kraig Biocraft Laboratories Enters Next Phase Of Business Plan, Signs Deal With Contract Manufacturer To Produce Metric Tons Of Recombinant Spider Silk

ANN ARBOR, Mich. — July 18, 2022 — Kraig Biocraft Laboratories Inc., the biotechnology company focused on the development and commercialization of spider silk, announces the signing of its first third-party production contract for large scale manufacturing of the company’s recombinant spider silk. The company expects to immediately begin operations with this contractor to produce hundreds of kilograms of spider silk per month and to achieve production levels reaching multiple metric tons of spider silk per month as early as the first quarter of 2023. The contractor is in possession of the company’s specialized eggs and anticipates a 90-day ramp-up for the first deliveries under the contract.

Pilot testing with this contractor during the first two quarters of 2022 demonstrated the capacity and expertise of this manufacturer to operate at a large scale and with excellent quality.

Under the contract terms, Kraig Labs will become a minority owner of the silk producer. Kraig Labs will have complete access to the manufacturer’s financial records and an onsite presence to ensure the proper handling and security of the company’s propriety spider silk technology.

“Our business model was designed to leverage the existing silk production infrastructure. The signing of this agreement rapidly expands our access into that production network and brings us to the next critical stage in our business plan,” said company COO Jon Rice. “Working with this contract manufacturer, we will soon be ready to deliver metric tons of eco-responsible and cost-effective spider silk to the consumer markets.”

In the coming days, the company plans to release the first in a series of behind-the-scenes videos looking into its operations in Vietnam and the commercialization of its spider silk materials.

Posted: July 18, 2022

Source: Kraig Biocraft Laboratories, Inc.

Findings Show That Respondents Feel Confident About The Outlook For The U.S. Fashion Industry In 2022, Despite Current Economic Conditions And Continuing Setbacks Due To COVID-19

WASHINGTON, D.C. — July 18, 2022 — The United States Fashion Industry Association (USFIA) has released the ninth annual Fashion Industry Benchmarking Study, a survey of executives from over 30 leading fashion brands, retailers, importers, and wholesalers, including some of the largest brands and retailers in the country.

Conducted in conjunction with Dr. Sheng Lu, Associate Professor in the University of Delaware Department of Fashion & Apparel Studies, the survey asked respondents about the business outlook, sourcing practices, utilization of Free Trade Agreements and preference programs, and views on trade policy.

This year’s study finds that most respondents (77 percent) feel at least somewhat optimistic about the next five years, despite the current short-term challenges. Nearly all respondents — 97 percent — plan to increase hiring over the next five years. As the industry continues to recover from the global pandemic shutdown, more than 90 percent of respondents expect their sourcing value or volume to grow in 2022.

Increasing sourcing and production costs remain a top concern for the U.S. fashion industry and, for the first time in the nine-year history of the Benchmarking Study, 100 percent of respondents expect their sourcing costs to increase in 2022. U.S. fashion companies continue to adopt a more diverse sourcing base, to handle supply chain disruptions and growing sourcing risks. Reducing “China exposure” is one crucial driver of U.S. fashion companies’ sourcing diversification strategy. One-third of respondents report sourcing less than 10 percent of their apparel products from China this year. In addition, a new record of 50 percent of respondents source MORE from Vietnam than China in 2022.

Asia remains the dominant supplier of apparel. This key finding has been consistent over the last nine years. Almost all the top ten most-utilized apparel sourcing destinations in 2021 are Asia-based, led by China (91 percent), Vietnam (88 percent), Bangladesh (84 percent), and India (72 percent). However, there is considerable excitement about increasing apparel sourcing from the Dominican Republic-Central America Free Trade Agreement (CAFTA-DR) region. Over the next two years, 60 percent of respondents plan to increase sourcing from CAFTA-DR. Improving textile raw material supply will be critical to encouraging more U.S. apparel sourcing from the region.

U.S. fashion companies strongly support another ten-year renewal of the African Growth and Opportunity Act (AGOA). Meanwhile, Ethiopia’s loss of AGOA benefits is negatively impacting the region. No respondent plans to move sourcing orders from Ethiopia to another AGOA beneficiary country. This highlights the uncertain future for sourcing when supply chains are disrupted.

Respondents represent companies with headquarters or major management offices in the United States. This year, around 75 percent of respondents also have headquarters or major management offices outside the United States, including China, Asia other than China, Europe, Eastern and Central America, and Mexico, among others. In addition to 100 percent selling products in the United States, over half of respondents also sell products in Canada, Western Europe, Mexico, and Asia. These patterns reflect the global nature of the fashion business today and the ever-closer connection of the U.S. fashion industry with markets and supply chain partners worldwide.

Posted: July 18, 2022

Source: The United States Fashion Industry Association (USFIA)

Digitalization And Sustainability Key To Resiliency For Italian Textile Machinery Sector

MILAN — July 13, 2022 — The objective critical issues faced by Italy as a whole throughout the course of 2021, primarily dictated by a pandemic that upset any and all pre-existing equilibriums, have not slowed or halted the Italian textile machinery sector.

Indeed, data presented during the annual assembly of ACIMIT, the Association of Italian Textile Machinery Manufacturers, held on 1 July proved decidedly positive, showing that in 2021 the sector recovered significantly compared to 2020, to the point of returning to pre-Covid levels.

Specifically, Italian textile machinery production amounted to 2.388 billion euros (+35 percent over 2020 and + 5 percent over 2019), with total exports amounting to 2.031 billion euros (+37 percent over 2020 and +9 percent over 2019).

However, these results do not cancel the obstacles that companies are still facing. Looking to the near future, expectations are for a rather uncertain outlook, as underscored by ACIMIT President Alessandro Zucchi: “2022 remains a year replete with unknown factors, starting with the Russian-Ukrainian conflict, along with the persistence of the pandemic, which seriously risk delaying expected growth consolidation for businesses in the sector. Difficulties in finding raw materials and components negatively affect the completion and fulfilment of orders processed as far back as 2021. To boot, rising energy costs and inflationary trends affecting numerous commodities are depressing overall business confidence. So the outlook for the sector is not so good.”

As such, the two cornerstones through which ACIMIT aims to support the Italian textile machinery sector are digitilization and sustainability.

4.0: The textile machinery sector looks to the future

The road to digital transformation has already led numerous manufacturers to completely rethink their production processes, rendering them more efficient and l ess expensive. The digital world is moving ahead at a decisive rate in the textile machinery sector, where the buzzwords are increasingly, for instance, the Internet of Things connecting to a company’s ecosystem, machine learning algorithms applied to production, predictive maintenance, and the integrated cloud management of various production departments. It is no coincidence that ACIMIT has focused decisively on its Digital Ready project, through which Italian textile machinery that adopt a common set of data are certified, with the aim of facilitating integration with the operating systems of client companies (ERP, MES, CRM, etc.).

A green soul

Combining production efficiency and respect for the environment: a challenge ACIMIT has made its own and which it promotes among its members through the Sustainable Technologies project. Launched by the association as early as 2011, the project highlights the commitment of Italian textile machinery manufacturers in the area of sustainability. At the heart of the project is the Green Label, a form of certification specifically for Italian textile machinery which highlights its energy and environmental performance. An all-Italian seal of approval developed in collaboration with RINA, an international certification body.

The project’s many benefits: the Rina Consulting survey

The assembly held on 1 July provided an opportunity to take stock of the Sustainable Technologies project, more specifically, with the presentation of the Rina Consulting survey on the Green Label’s evolution and impact in recent years.

The results have confirmed the initiative’s extreme validity. The technological advances implemented by the association’s machinery producers participating in the project have effectively translated into benefits in terms of environmental impact (reduction of CO2 equivalent emissions for machinery), as well as economic advantages for machinery users.
With reference to the year 2021, a total of 204,598 tons of CO2 emissions avoided on an annual basis have been quantified, thanks to the implementation of improvements on machinery. This is a truly significant reduction which, for the sake of comparison, corresponds to the carbon dioxide emissions generated by 36,864 automobiles traveling an average of 35,000 km a year. In terms of energy savings, the use of green labeled textile machinery has provided excellent performances in allowing for a reduction of up to 84 percent in consumption.

A round table discussion on the Green Label’s primary purpose

The environmental and economic impact generated in production processes for Italian textile machinery through the use of Green Label technologies was the focus of the round table which concluded the ACIMIT assembly.

Moderated by Aurora Magni (professor of the Industrial Systems Sustainability course at the LIUC School of Engineering), the debate involved Gianluca Brenna (Lipomo Printing House administrator and Vice President of the Italian Fashion System for Welfare), Pietro Pin (Benetton Group consultant and President of UNI for the textile-clothing area), Giorgio Ravasio (Italy Country Manager for Vivienne Westwood), as well as ACIMIT President Alessandro Zucchi.

Called on to compare common factors in their experiences relating to environmental transition processes for their respective companies, the participants were unanimous: the future of Italian textile machinery can no longer ignore advanced technology developments capable of offering sustainable solutions with a low environmental impact while also reducing production costs. This philosophy has by now been consolidated, and has proven to lead directly to a circular economy outlook.

The upcoming ITMA 2023 exhibit

Lastly, a word on ITMA 2023, the most important international exhibition for textile machinery, to be held in Italy from June 8-14, 2023, at Fiera-Milano Rho. Marking the 19th edition of ITMA, this trade fair is an essential event for the entire industry worldwide, providing a global showcase for numerous innovative operational solutions on display. A marketplace that offers participants extraordinary business opportunities. The participation of Italian companies is managed by ACIMIT.

General information on Italian textile machinery sector and ACIMIT

ACIMIT (Association of Italian Textile Machinery Manufacturers) was founded in 1945 with the primary objective of promoting the Italian textile machinery industry, by supporting its activities in Italy and abroad. A non-profit organization, it currently brings together some 180 producers of textile machinery, divided into different categories: spinning, weaving, knitting, finishing and other machinery.

ACIMIT represents an industrial sector that includes roughly 300 companies (employing some 13,000 people) and which produces machinery for a total value of around 2.4 billion euros, of which about 85% is exported. Creativity, sustainable technology, reliability and quality are the characteristics that have made Italian textile machines industry leaders worldwide.

Posted: July 14, 2022

Source: ACIMIT — Association of Italian Textile Machinery Manufacturers

The Recent Techtextil In Frankfurt Emphasized The Diversity Of Applications For Nonwoven And Technical Textiles, According To Finishing Technology Specialist Monforts

Alexander Fitz

MÖNCHENGLADBACH, Germany — July 13, 2022 — “We fielded enquiries at top management level from an extremely wide range of companies, all with very different ideas for new product applications during the show,” said Alexander Fitz, who joined Monforts a year ago as engineer for textile technologies and co-ordinator of the Monforts Advanced Technology Centre (ATC).

Fitz brings a solid background in both technical textile technology and processes to the role, having previously worked for both a well-known nonwovens machinery builder and a leading roll-goods manufacturer.

Trials

“We are now looking forward to interesting new trials and pilot production runs, as well as the commissioning of new orders for machines resulting from the extremely busy exhibition,” he said. “Obviously, everyone at the moment is looking to make energy savings, and we have developed a range of options for helping companies increase their resource efficiency, both on new lines and as retrofitted systems, but this is not stifling innovation at the new material level.

“There was a lot of interest in what is possible with the Montex®Coat coating system and the range of different techniques it enables, and at our ATC in Mönchengladbach, a Montex Coat unit is integrated into the full technical textiles pilot line, on which it is possible to run new fabrics in widths of up to 1.8 metres.”

Explosion proof

The technical textiles line at the ATC incorporates a Montex four-chamber stenter and is fitted with an explosion-proof coating application chamber in order to allow treatment to be carried out with organic solvents and other volatile materials.

Every single component within the chamber has to meet the standards of the European Union’s ATEX directives for working in a potentially explosive atmosphere. A range of sensors linked to alarms operate at various levels within the chamber to ensure the specified lower explosion limit (LOL) is never exceeded and the ventilation adapts accordingly.

Monforts at Techtextil 2022

Advanced functions

Special features on the finishing line relate to further advanced functions such as the ability to treat materials not only at temperatures of up to 320°C, but also to be able to treat the top and bottom faces of certain materials at different temperatures within a single pass through the machine.

To achieve this, the first two chambers of the stenter are fitted with special, heavy duty TwinAir ventilation motors and separate burners for individual top/bottom temperature. A temperature differential of up to 60°C can be achieved between the upper and lower nozzles within the chamber, depending on the treatment paramenters.

“There are many applications where employing two separate temperature treatments is beneficial, such as floorcoverings — where the textile face fabric is treated at one temperature and the rubber backing at another — as well as PVC flooring employing chemical foams or for materials like black-out roller blinds with heavy backings,” Fitz explained. “Other materials, such as PTFE-coated filter materials are also applied and then cured at separate temperatures.”

Another key feature of the technical textiles line at the ATC is the special stretching device which is capable of pulling ten tons in length and ten tons in width — a huge amount per square meter of fabric and necessary in the production of materials such as woven or 3D knits for high temperature filter media.

“This line has been engineered to provide the ultimate in precision coating and finishing for industrial-scale trials and we are greatly looking forward to the new work that will be conducted following our discussions with companies at Techtextil,” Fitz concluded.

Posted: July 14, 2022

Source: A. Monforts Textilmaschinen GmbH & Co. KG

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