Rieter Investor Update 2021

WINTERTHUR, Switzerland — October 22, 2021 — The positive market dynamics, which Rieter has already reported on several occasions, continued in the third quarter of the current year. Rieter recorded an order intake of 698.6 million Swiss francs in the third quarter of 2021 (2020: 174.4 million Swiss francs). 
The order intake of 1,673.9 million Swiss francs after nine months corresponds to an increase of 294 percent compared to the prior year period (2020: 425.1 million Swiss francs).

The market development is broadly supported at the global level and is based on a catch-up effect from 2019 and 2020 in combination with a regional shift in demand. Rieter believes that a major reason for this regional shift in demand is the development of costs in China. This is leading to increased investments outside the Chinese market. The orders came primarily from Turkey, Latin America, India, Pakistan and China. Overall, Rieter is benefitting from its innovative product range and the global positioning of the company.

The Business Group Machines & Systems achieved an order intake totaling 1,281.6 million Swiss francs in the first nine months of 2021 (+447 percent). This is where the catch-up effect and the regional shift in demand are particularly evident.

In the first nine months of 2021, the Business Group Components recorded an increase of 95 percent to 227.0 million Swiss francs, while the Business Group After Sales posted an order intake of 165.3 million Swiss francs, an increase of 123 percent compared to the prior year period. The continued increased demand for spare and wear parts at the well utilized spinning mills is the main reason for the positive order intake in both Business Groups.

The order backlog as of September 30, 2021, was around 1,562 million Swiss francs (September 30, 2020: 515 million Swiss francs).

Acquisition of the three Saurer businesses on schedule

The acquisition of the three businesses from Saurer, which Rieter announced on August 16, 2021, is proceeding according to plan. The incoming orders for these businesses are not taken into account in this trading update.

Credit lines renewed early

The Rieter Group arranged the early renewal of the existing committed credit lines (five-year term, totaling 250 million Swiss francs).

Outlook 2021

The first nine months of 2021 were characterized by a rapid market recovery combined with a regional shift in demand. Rieter expects the demand for new systems to gradually return to normal in the coming months.

The company assumes that the spinning mills will continue to work at full capacity. For the full year 2021, Rieter anticipates sales of around 900 million Swiss francs.

The realization of sales from the order backlog continues to be associated with risks, in light of bottlenecks in material deliveries and freight capacities as well as the ongoing pandemic in countries that are important for Rieter.

Posted October 22, 2021

Source: Rieter Holding Ltd.

Avery Dennison’s Emission Reduction Targets Approved by SBTi

GLENDALE, Calif. — October 21, 2021 — Avery Dennison today announced that its emissions reduction targets have been approved by the Science Based Targets initiative (SBTi) as consistent with levels required to meet the goals of the Paris Agreement.

The targets covering greenhouse gas emissions from the company’s operations (scopes 1 and 2) are in line with reductions required to keep warming to no more than 1.5°C, the most ambitious goal of the Paris Agreement and what the latest climate science has told us is needed to prevent the most damaging effects of climate change. Meanwhile,the company’s target for the emissions from its value chain (scope 3) meets the SBTi’s criteria for ambitious value chain goals, meaning it too is aligned with current best practice.

Ambitious goals

This news comes as the company raises the bar on its sustainability goals, having announced earlier this year that it is furthering its efforts by setting ambitious 2030 targets. This saw the company commit to reducing absolute scope 1 and 2 GHG emissions by 70 percent from a 2015 baseline year and the company also committing to reduce absolute scope 3 GHG emissions from purchased goods and services and end of life treatment of sold products 30 percent by 2030 from a 2018 base year.

The specific 2030 targets fall under three broad sustainability goals:

  • Deliver innovations that advance the circular economy;
  • Reduce the environmental impact in its operations and supply chain; and
  • Make a positive social impact by improving the livelihoods of people and communities.

The company’s overall ambition is to have net-zero emissions by 2050. The 2030 goals also include targets for gender diversity, employee engagement and inclusion, safety, and more.

Why does it matter?

Galvanized by the historic Paris Agreement, the transition to a zero-carbon economy is underway and accelerating globally. The latest science has made it clear that more needs to be done — and faster — to avoid the worst impacts of climate change and secure a thriving, sustainable economy. The next few years are critical, and companies have a vital role to play in helping achieve transformation at the pace and scale that is needed.

“Setting sustainability goals needs a benchmark by which we all ensure everyone is working together towards a collective goal,” says Michael Colarossi, vice president, product line management, innovation and sustainability, RBIS, Avery Dennison and lead for ESG initiatives for the company. “This acknowledgment by the SBTi gives us confidence that we are setting ambitious scopes 1, 2 and 3 GHG emissions reduction targets, as we join with other global industry leaders to move the needle towards a future of net-zero emissions.”

Posted October 22, 2021

Source: Avery Dennison Corp.

Media One Launches RecycleTex™ Fabric

GARDEN GROVE, Calif. — October 21, 2021 — Media One is launching a line of fabrics for dye-sublimation transfer, direct dye sub, latex & UV made from 100-percent recycled yarns, called RecycleTex™.

“We’ve developed a line from our most popular products, now using a recycled yarn construction, with a digital finish for dye-sub, UV & Latex printing that produces incredible color for direct & transfer applications,” said Jason Bartusick, CEO and head of Product Development at Media One. “Brand owners are becoming more environmentally conscious, and we’re seeing more demand for green options.”

Our beach-themed fabrics are available in 63″, 126″ & certain products up to 5M. The list of products available with RecycleTex recycled yarns are: TXFM – “Imperial” flag material, iTex “Moonlight” a backlight SEG & POP fabric, TXSD “Doheney” a versatile display, backlight, & backdrop fabric, and TX-Illuminate Premium “Malibu” a bright white SEG UV-compatible blockout material.

These fabrics are available also with antimicrobial coating on special order, but core products can be ordered by the yard, & cut to specific lengths for your project. They are also available for same-day shipment for orders received before 2pm Pacific time.

More details about these fabrics:

  • 100% Polyester Flag – TXFM “Imperial”
Weight: 107g/sqm 3.15oz/sqyd Width: 63″, 126” & 196″
Application: Lightweight flag & Banner applications
Features: 100% polyester warp-knit, traditional flag construction with a soft-texture, allows ink penetration for dual side viewing & excellent durability. Compatible with dye sub transfer & direct. Also UV & latex compatible.
  • 100% Polyester Backlight/SEG – iTex “Moonlight”
Weight: 255g/sqm 7.52oz/sqyd Width: 63″, 126” & 196″
Application: Banners, POP, SEG, Tradeshow displays
Features: 100% polyester warp-knit construction. Ideal for backlit applications with great opacity & excellent durability. Compatible with dye sub transfer & direct. Also UV & latex compatible.
  • 100% Polyester Display – TXSD “Doheny”
Weight: 230g/sqm 6.78oz/sqyd Width: 63″, 126” & 196″
Application: Display, Soft signs, Backlit & Backdrop applications.
Features: 100% polyester warp-knit construction. Environmentally-friendly, versatile fabric with a light stretch for indoor displays. Compatible with dye sub transfer & direct. Also UV & latex compatible.
  • 100% Polyester Display – TX-Illuminate Premium “Malibu”
Weight: 195g/sqm 5.75oz/sqyd Width: 63” & 126″
Application: White-backed SEG, crease-free backlit SEG & Lightbox applications
Features: 100% polyester warp-knit construction. One side coated for solvent & UV frontlit and backlit, short-term outdoor use. Also for high-quality backlit imaging. Compatible with UV & latex inks only.

Posted October 22, 2021

Source: Media One USA

NILIT® Joins The Ocean Foundation’s Blue Resilience Initiative

MIGDAL HAEMEK, Israel — October 21, 2021 — NILIT has teamed up with The Ocean Foundation’s Blue Resilience Initiative to reestablish and safeguard essential ocean meadows and other coastal habitats. These marine grasslands, which are being damaged at a rate of two football fields every hour, are vital ecosystems for sequestering carbon dioxide from the atmosphere to reduce global warming and ocean acidification. In addition, ocean grasslands sustain sea life, defend coast lines against erosion and storm surge, and support economies around the world.

“NILIT’s investment in The Ocean Foundation Blue Resilience Initiative naturally complements and augments our own internal actions to protect ocean ecosystems,” said Sagee Aran, head of Global Marketing. “NILIT and The Ocean Foundation can affect both sides of the ocean health equation and, together, make a more substantial impact on the well-being of our oceans and our planet.”

Reducing carbon dioxide and protecting oceans are both important factors in NILIT’s multifaceted Total Product Sustainability program. The company implemented clean energy technologies at its manufacturing plants around the world. At its main facility in Israel, carbon dioxide emissions were reduced by 40 percent. NILIT has designed the largest portfolio of sustainable premium Nylon products under its SENSIL® consumer brand including innovative products that specifically address reduced greenhouse gas emissions and ecosystem effects. NILIT’s most recent new product introduction, SENSIL BioCare, is made with a special additive that accelerates biodegradation to reduce textile microplastics buildup in marine environments during use and after. ASTM 6691 testing by an independent laboratory showed biodegradation of about 40 percent in 500 days. QR codes on SENSIL BioCare hang tags educate consumers about apparel sustainability and The Ocean Foundation’s mission.

“Apparel sustainability requires new ideas and creative partnerships from fiber through to the consumer,” Aran continued. “With The Ocean Foundation investment, we have expanded our vision far beyond the traditional supply chain structure so that we can more rapidly and effectively bring about positive environmental impact, in line with our SENSIL brand purpose. We are excited to join in The Ocean Foundation’s crucial work to protect the marine ecosystems that sustain life in the oceans and on land.”

Posted October 21, 2021

Source: NILIT

Hyosung’s creora® 3D Max Spandex Helps Denim Brands Achieve Circularity

SEOUL, South Korea — October 12, 2021 — Denim is increasingly being held to environmentally friendly standards as consumers put pressure on brands and retailers to reduce jeans’ ecological footprint.

In response, Hyosung has developed a number of sustainable denim solutions, which the company looks forward to presenting to industry members during its personalized Denim Days event taking place in New York City, Los Angeles and London on select dates in November 2021.

creora® 3D Max spandex – for recyclable jeans

Circularity is top of mind and denim brands and mills are following Ellen MacArthur Foundation’s Jeans Redesign guidelines for recyclable denim. Jeans Redesign’s standards are meant to create jeans that are both more durable and easier to separate and recycle.

Among its guidelines is a requirement that denim be made with a minimum of 98 percent cellulosic material leaving 2 percent of the content for stretch or synthetic material — a challenge for Jeans Redesign participants as consumers are accustomed to high stretch and comfort. Hyosung aims to help denim brands and mills fit the program criteria with its creora® 3D Max spandex.

“Starting from the beginning, clearly people have demonstrated they want stretch,” said Mike Simko, global marketing director, Hyosung Textiles. “The question becomes, how does the spandex industry react and make it so that you’ve got sustainability and circularity starting from the inputs?”

According to Simko, the industry desires denim that stretches by more than 50 percent with a maximum of 5 percent growth. Conventional spandex alone will provide stretch, but the recovery won’t live up to the standard — regardless the percentage of spandex in the material.

To achieve the recovery needed, the typical solution has been to mix polyester in with the spandex, creating a dual core that can more effectively bounce back, however this added polyester content means that synthetic yarns make up 12 to 16 percent of a finished garment, preventing denim from meeting the 98 percent threshold for Jeans Redesign.

Hyosung’s creora 3D Max offers a solution to achieve a balance of stretch and recyclability, since it delivers a high performance stretch even as a small portion of fabric content. The yarn swaps the typical polyester core for spandex, creating a fully stretch material that retains the recovery properties of the polyester-spandex combination.

creora® regen spandex — for jeans made with 100-percent recycled materials

To improve the life cycle assessment of spandex, Hyosung has developed creora regen spandex, which is made of 100-percent reclaimed waste and has a 67 percent smaller carbon footprint than conventional spandex.

creora® bio-based spandex — for jeans made with renewable resources

Hyosung’s creora bio-based spandex replaces 30 percent of chemicals with ones derived from dent corn, so when the corn is growing it consumes carbon dioxide, thus reducing greenhouse gases (all documented in SAC’s HIGG index).

GRS-certified 100-percent recycled multi-function fibers — for jeans with added performance

Hyosung will also present its portfolio of 100-percent recycled Mipan® regen nylon and regen polyester yarns with multi-functional properties such as cooling and drying, light-weight, cotton-touch and comfort stretch.

Posted October 21, 2021

Source: Hyosung

Herculite Products Completes Capacity Expansion

EMIGSVILLE, Pa.— October 21, 2021 — Herculite Products Inc., a manufacturer of high performance and custom fabrics is pleased to announce it has completed the second phase of a multiyear strategic investment into its facilities adding significant additional capacity.

Herculite’s multiyear, multi-million dollar investment is focused on strengthening its position as a global leader in high-performance reinforced textile composites by increasing production capabilities, expanding manufacturing capacity, and improving organizational efficiency.

The recently completed phase was specifically focused on increasing manufacturing capacity at its Emigsville, Pa., facility. This additional capacity has allowed Herculite to further grow its U.S.-based workforce, achieve record fabric production levels and respond to the historical and unprecedented demand across all Herculite product lines.

The next phases of Herculite’s strategic investment will continue to build on our long history of operational excellence. This strategic investment will significantly advance the organization in its mission to help our customers grow their business by delivering products and services of exceptional value distinguished by their quality and innovation on time.

Posted October 21, 2021

Source: Herculite Products Inc.

Milliken & Company Introduces Shri Parikh As Healthcare Business President

SPARTANBURG, S.C. — October 20, 2021 — Following a thorough interview process, global manufacturer Milliken & Company is pleased to welcome Shri Parikh as president of Milliken’s Healthcare Business and executive vice president of Milliken & Company. Parikh joins Milliken after more than 27 years in the healthcare industry, bringing robust experience to this role. He will lead the domestic and international businesses focused on improving patient lives with innovative solutions and will serve on Milliken & Company’s senior leadership team as an executive vice president.

“Through our Healthcare Business, we create products that improve people’s lives,” said Halsey Cook, president and CEO of Milliken & Company. “With his unique blend of technical and business experience, Shri Parikh is poised to lead our team in delivering tomorrow’s breakthroughs to the healthcare industry.”

Milliken formalized its commitment to the healthcare industry in 2019 after acquiring Andover Healthcare and widening its health portfolio. Alongside mainstay medical products like wound and burn dressings, Milliken’s healthcare range grew to include compression solutions, cohesive bandages and tapes that serve the animal care and sports medicine markets as well as the traditional medical fields.

“I am pleased to join the team at Milliken & Company — a highly purpose-driven organization,” shared Parikh. “I’ve seen first-hand the many challenges facing the healthcare industry, and I am excited to be a part of Milliken & Company’s ability to meet the moment through our products and innovation pursuits.”

Over the course of his career, Parikh has helmed growth, regulatory, strategy and sales functions at various organizations, including Bristol-Myers Squibb Pharmaceuticals, St. Jude Medical/Abbott, Stryker and Molnlycke Health Care. Most recently, he served as president of Sanuwave, a small public company based in Suwanee, Georgia, where he commercialized a unique, energy-based technology platform for chronic wounds and orthopedic indications. He later founded his own company supporting the use of this technology. Parikh holds an undergraduate degree in economics and medical ethics from Davidson College and postgraduate degrees from The University of Chicago Booth School of Business and Jacksonville University in Florida.

Posted October 20, 2021

Source: Milliken & Company

Ganesha Ecosphere And Applied DNA To Deploy CertainT® Platform To Secure Recycled Polyester Supply Chain

STONY BROOK, N.Y./KANPUR, India — October 20, 2021 — Applied DNA Sciences Inc. today announced signing a mutual collaboration agreement with Ganesha Ecosphere Ltd., the largest recycled polyester (rPET) fiber producer in India with 300-plus customers, 250-plus suppliers, and 500-plus product variants. Under the terms of the agreement, Ganesha will deploy the CertainT® platform, Applied DNA’s traceability system, to tag an initial pilot production of recycled polyester (rPET) at Ganesha’s facilities in India and conduct confirmatory samples testing at Applied DNA’s laboratories in India and the U.S. The collaboration between the two companies will provide brands and textile manufacturers with a trusted solution to support their sustainability goals for rPET and confirm raw material authenticity at all stages of the textile value chain.

The agreement enables Ganesha to introduce and apply CertainT-verified rPET to provide assurance for the raw material with textile and apparel customers. Ganesha will also employ Applied DNA’s recently introduced SigNature® T-100 tracer system that enables rPET source material to be quantified in polyester blends by the CertainT platform. SigNature T-100 is a proprietary molecular-based tracer system used to identify, analyze, and verify rPET, polypropylene, acrylic, and potentially other man-made materials for claims of both identification and quantification of the raw material tagged and subsequently spun into yarn for various textile products.

“Traceability has now added more authenticity and credibility to the entire textile supply chain and is becoming an integral part of the recycling process. With Applied DNA and CertainT, our customers can now trust in the original tagged synthetic fiber and verify product-related sustainability claims,” stated B.P. Sultania, joint president of Ganesha Ecosphere Ltd.

Since entering the rPET business in 1994, Ganesha has pioneered the manufacturing of rPET fiber and rPET yarn from post-consumer PET bottle scrap under the leadership and vision of Chairman Shri Shyam Sunder Sharmma. The company is the largest producer of rPET fiber, spun yarn, and dyed filament with a cumulative capacity of 118,800 metric tons per annum in India. Ganesha’s rPET products are components in the manufacture of textiles, such as T-shirts, body warmers, functional textiles such as non-woven air filter fabric, geo textiles, carpets, and car upholstery, and fillings for pillows, duvets, and toys.

“CertainT provides brands and manufacturers with a real strategic advantage that is truly sustainable, traceable and trusted. Our India and Asia-based support teams for recycled PET and other polymers facilitate CertainT’s commercial scale-up and integration into customers’ supply chain,” stated Dr. James A. Hayward, president, and CEO of Applied DNA Sciences.

Posted October 20, 2021

Source: Applied DNA Sciences, Inc.

Bucha Bio Oversubscribes $550,000 Raise To Scale Production Of MIRAI™ Biotextile

NEW YORK CITY — October 20, 2021 — BUCHA BIO INC. oversubscribed to raise $550,000 as part of the New York City-based company’s latest fundraising. Investors include New Climate Ventures, Beni VC, Lifely VC, QKZ Design, MicroVentures, and angels Cary Pinkowski, Nicholas Valeriano, and Fiona and George Sobek.

Founded in 2019 and a graduate of SOSV’s IndieBio program, Bucha develops novel biomaterials from fermented bacterial nanocellulose and plants. The company designs next-generation materials with applications in textiles, packaging, and even hard construction materials. An expansive library of plant-based formulations combined with a proprietary consortium of bacteria enables the biotechnology company’s innovations.

This round of funding allows their team to scale production of their signature luxury biotextile, MIRAI™, inspired by the Japanese word “future” and the Italian phrase “look with emphasis”. Available for reservation now, MIRAI allows brands to cut and sew sustainable materials into their designs, further pushing the fashion industry away from petrochemical and animal products.

“We are excited to partner with Bucha Bio as they advance the fashion and sustainable materials industry with their innovative and eco-friendly biomaterials, furthering our portfolio-wide mission of carbon reduction and removal across the globe,” said Managing Partner of New Climate Ventures Eric Rubenstein.

According to the Material Innovation Initiative, nearly all — 94-percent — of U.S. consumers are interested in purchasing next-gen materials, and 38 out of 40 fashion brands are actively searching for them. The fashion industry is only a fraction of the total materials market but creates up to 10 percent of global greenhouse gas emissions. If left unchecked, textile production will take up more than a quarter of the global carbon budget by 2050. By scaling breakthrough biotextiles like MIRAI without compromising sustainability, Bucha’s team is dedicated to making the best materials on earth, and leaving the world better than we found it.

Posted October 20, 2021

Source: Bucha Bio Inc.

Arson Destroyed Their Building, But Portland Garment Factory Is Reopening With More Ambition Than Ever

PORTLAND, Ore. — October 20, 2021 — Portland Garment Factory (PGF) — a full service, soft goods manufacturing company that has worked with many established brands including Nike, Wieden+Kennedy, Intel and LAIKA — is opening its new location after an arson burned down the company’s 10+ year headquarters in April 2021. PGF, having lost its factory amidst a global pandemic, saw an opportunity to embrace adversity. It has emerged from its six-month chrysalis with refreshed creative energy and the physical space to act on it. The B Corp Certified, zero waste factory proves that creative problem solving and community can drive artistic progress.

The new facility offers opportunities for PGF to take on both bigger and more intricate projects, while expanding its services. Increasing from 5,000 to 10,000 square feet, the building allows for revamped capabilities and machinery.

The pandemic called for a shift; between March 2020 and April 2021, PGF made nearly 100,000 masks, thousands of which were donated to underserved communities. They were supported in turn by donations from more than 1,200 donors totaling over $125,000 toward reopening efforts. PGF CEO and founder Britt Howard found herself breathing new life into PGF, rather than yielding to the loss.

“I couldn’t have done this without the support of our incredible community, who helped make our most challenging year into our most exciting,” said Britt Howard. “As we reopen our doors, our team is reinvigorated by the possibilities that the new factory brings. We’re ready to take on our wildest projects yet.”

Bringing an artist’s perspective and knowledge of manufacturing to an industry better known for production than creative problem solving and sustainable practices, Howard is excited for PGF’s future. PGF is butterflying, embracing new shapes both physical and conceptual.

Portland Garment Factory is located at 311 SE 97th Avenue, Portland, OR 97216.

Posted October 20, 2021

Source: Portland Garment Factory

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