Accelerating Circularity Project Identifies Future Workforce Opportunities In The Circular Economy

WILMINGTON, Del.  — March 11, 2022 — The Accelerating Circularity Project (ACP) commissioned research and a white paper on the potential workforce opportunities created as we shift from a linear business model to a circular one of textiles-to-textiles recycling. The mission of ACP is to establish systems that will use the embedded value and resources in existing textiles for new products, reducing the 17 million tons in the USA1 and 5 million tons in Europe of post-consumer waste2  that goes to landfills annually. Thus, supporting the reduction of the industry’s environmental impacts.

“Through research and stakeholder participation, our report aims to show how the USA workforce can emerge stronger while the entities investing in textile circularity can take advantage of an evolving industry,” shared Karla Magruder, founder and president of ACP. “Sustainability has three pillars: environmental, economic, and social. ACP is focused on demonstrating and quantifying the environmental and economic impact through trials that are in progress. Research on future employment is an important social aspect of the circular economy that warranted addressing.”

As the textile recycling sector grows as part of the circular economy, more workers will be needed to collect, sort, and process recyclables. The value chain for Textile Reuse & Resale model is already functioning, profitable, and growing fast:

  • According to Thredup/Boston Consulting Group, the vintage & resale market was valued at $28 billion in 2020 and is forecast to grow to $64 billion by 20243
  • The US Census Bureau identified over 19,200 retail locations and a workforce of over 201,0004

The Textile-to-Textile recycling model is still evolving and will offer some longer-term strategic advantages that the reuse/resale marketing does not.  Examples include:

  • No competition with new fashion retail sector/employment5
  • Potential to support the onshoring and therefore the growth of the existing workforce6
  • Job creation to meet anticipated $40.3 billion in eco-fiber demand by 20277

Sorting is a critical function although today it is generally considered an entry-level, unskilled job with minimum compensation and at the same time, it is physically demanding. The reuse/resale market relies on intense sorting to generate income through the grading of reusable items. While some technologies are in development and can automate specific parts of the sorting process, they are not fully functioning. Many of those interviewed for this study believe sorting will remain a combination of automated and manual labor.

The post-consumer textile collection has both a workforce as well as an infrastructure development opportunity to make the consumer donation of unwanted clothing more convenient and to maximize the diversion from landfills. A 2020 study by the European Apparel and Textile Confederation (EURATEX) estimates that about 20 jobs can be created for every 1000 metric tons of textiles collected, sorted, and recycled in the European Union8.

Many of the stakeholders interviewed for this study commented that policy and legislation can also be critical in empowering job creation and the establishment of a circular economy.

For more information, please sign up for a webinar on March 24 at 11 am EST (U.S. and Canada)

Register in advance for this meeting:
https://us02web.zoom.us/meeting/register/tZApcemtrDspG9Hx9bqHZf2nkOyvKwbeymDj

References:

1 https://www.epa.gov/facts-and-figures-about-materials-waste-and-recycling/textiles-material-specific-data#TextilesTableandGraph

2 https://publications.jrcec.europa.eu/repository/handle/JRC125110k p.8

3 https://www.thredup.com/resale/2020/#resale-growth

4 U.S. Census Bureau, All Sectors: County Business Patterns, including ZIP Code Business Patterns, by Legal Form of Organization and Employment Size Class for the U.S., States, and Selected Geographies (2019)

5 Ellen MacArthur Foundation (EMF), A new textiles economy: Redesigning fashion’s future (2017)

6 Organization for Economic Cooperation and Development (OECD), Labor market consequences of a transition to a circular economy (2020)

7 Circular Fashion Summit, Circular Fashion Report 2020: Year Zero (2020)

8 EURATEX, ReHubs: A joint initiative for industrial upcycling of textile waste & circular materials (2020)

Posted: March 11, 2022

Source: Accelerating Circularity

JEC Group Supports Composites Expert To Launch E-Learning Composites Academy

PARIS — March 10, 2022 — On March 10, 2022, JEC Group and Composites Expert have signed a partnership agreement to promote E-learning Composites Academy, the first 4.0 training platform dedicated to manufacturing processes of composite materials.

This partnership will start with two first steps: an introduction webinar session on March 15 at 4pm CET, and two sessions of training during JEC World 2022, on Tuesday, May 3 and Wednesday, May 4, in Paris where Composites Expert will present the E-learning Composites Academy, a new pedagogical approach aimed at appropriating knowledge of polymer transformation specially developed by Composites Expert.

Tools have been designed to combine the theoretical part (E-Learning course platform) and the practical part (BOXs, software, process simulator, exercises through manipulation) to observe complex phenomena, with the aim of mastering and optimising transformation processes. The aim of this presentation is to introduce people to the learning method and the interactivity of the teaching aids used in industry and education.

“One of JEC Group’s objectives is to develop access to education to help the composites industry to attract and train talented professionals. So, we are very proud to announce this partnership and to support Composites Expert initiatives, as joining common efforts and strategies will benefit to the overall industry,” stated Anne-Carole Barbarin, Content and Product Development director.

The partnership with JEC Group is a major step towards the development of our training platform, while several manufacturers have already supported us, such as Arkema, Chomarat, Daher, Diatex, Pinette PEI, Porcher, Sopara, joining JEC World to officially launch our platform is an amazing opportunity.”, stated Jean-Pierre Cauchois, CEO Composites Expert.

These training sessions are targeting companies’ employees who would like to improve their expertise, to study professional reconversion, the companies who would like to know more or use composite materials, and universities and school for students to go from theory to practical exercises.

Posted: March 10, 2022

Source: JEC Group

Downlite Outdoor Partners With Debrand Services In Circularity Practices

MASON, Ohio — March 10, 2022 — Downlite Outdoor, a down and feather processing and supplier of responsibly sourced performance fills, has named Debrand as a partner in its relentless effort to increase its industry-leading sustainable initiatives and circularity practices.

Progress is made possible through alliances working collectively for positive change. Downlite Outdoor supplies premium down to top brands like Marmot, REI, Canada Goose, Lululemon, Ralph Lauren, Enlightened Equipment, Hammock Gear, Columbia Sportswear, Haglöfs, and Cascade Designs. Every season brings a batch of products at the end of their useful life, raising the topic of circularity and the opportunity to upcycle components — like Down, zippers, and snaps.

Debrand aligns with world-class apparel brands to elevate sustainability by extracting as much value as possible from our planet’s finite resources. With Downlite Outdoor, Debrand works with product overages in client jackets, sleeping bags, pillows, and bedding that are out of circulation due to past seasons and/or unsalable goods to market. “Reverse Logistics” is moving a product backward through the supply chain, taking apart the product to its basic virgin materials and cycling it back to the manufacturer to rebuild the new product.

“We have been aware of Debrand’s evolving logistic systems for a couple years, and now we can announce our new relationship with the help of our apex brand partners to collectively support this movement in ‘circularity,’ back into the supply chain,” explained Lindsay Parrish, vice president of sales at Downlite Outdoor.

With more than a 100 years of down processing experience, Ohio-based Downlite is a trusted partner to many of the most recognizable premier apparel and sleeping bag brands in the outdoor industry. Downlite has pioneered breakthrough innovations in performance down technologies and has emerged as a leader in traceability and transparency through its global supply chain and now circularity and reverse logistics. “Optimized Reverse Logistics” means doing this more efficiently through the highest-value recovery channel. Debrand helps brands become more responsible with product waste.

“There are many reasons why an item or garment can find itself heading back from the consumer to the retailer. Effectively managing this process means leveraging industry knowledge, physical infrastructure, and data to ensure everything goes to its highest and best use,” says Wesley Baker, co-founder at Debrand. “Yes, it’s circularity, sustainability, and brand security, but it’s also just smart resource planning.”

Debrand is built with a simple mission in mind: to help extract as much value as possible from the world’s finite resources.

Posted: March 10, 2022

Source: Downlite Outdoor

Hexcel Highlights the Possibilities Created by HexTow® Carbon Fiber

STAMFORD, Conn. — March 10, 2022 — Hexcel Corp. will showcase its unique portfolio of carbon fibers that have been optimized for thermoplastic processing applications when the company exhibits at the American Composites Manufacturers Association (ACMA) Thermoplastic Composites Conference, beginning March 22 in San Diego.

HexTow® carbon fiber is the preferred carbon fiber for the world’s most advanced aerospace and industrial thermoplastic composite applications including the latest developments in thermoplastic prepregs, braiding and comingled fibers. Hexcel is the only carbon fiber manufacturer able to supply its range of fibers with or without sizing, making HexTow unsized fibers the go-to option for thermoplastic specialists due to their enhanced processing properties.

In addition to spools of sized and unsized HexTow fibers, products on display at the Hexcel booth will include a comingled fiber product developed by Hexcel customer Concordia Fibers, which blends thermoplastic and carbon fiber yarns to produce highly adaptable thermoplastic yarn that can be woven, braided, knitted or pultruded.

Other Hexcel customers have provided a selection of thermoplastic composite aerospace and industrial components for display including Control Surface Rib and Panel Stiffener parts using PEKK/AS4D unidirectional tape.

Tom Haulik, Sales Director for Carbon Fiber at Hexcel, said: “We are expecting strong attendance this year and will have a full spectrum of thermoplastic product applications on display. Delegates visiting the booth will experience the handling differences created in the fiber tow firsthand and witness the composite possibilities they create in a range of end use components.”

Posted: March 10, 2022

Source: Hexcel Corporation

Oerlikon Nonwoven Premiered Its New hycuTEC Hydro-Charging Solution At This Year’s FILTECH

NEUMÜNSTER, Germany— March 10, 2022 — The Germany-based systems builder Oerlikon Nonwoven premiered its new hycuTEC hydro-charging solution at this year’s FILTECH in Cologne. This new technology for charging von nonwovens enables the filter efficiency to be increased to more than 99.99 percent. As a result, it offers meltblown producers considerable material savings with simultaneously improved filtration.

The hycuTEC is the market’s first industrially-manufactured hydro-charging solution that can also be seamlessly integrated into the production process. And the innovative technology is also easily retrofitted to existing systems as a plug & produce component – a first within the market.

Filter media with a whole new level of quality

hycuTEC hydro-charging can reduce the pressure loss in typical FFP2 filter media to less than a quarter. Even filtration efficiencies of more than 99.99% are easily achieved in typical filter media of 35 g/m² at 35 Pa. Tests at pilot customers manufacturing FFP2 face masks have confirmed quality increases due to the improved filtration with a simultaneous reduction in material usage of 30 percent. For end users, the consequence is noticeably improved comfort resulting from significantly reduced breathing resistance

In addition to this, the hydro-charging unit also stands out in terms of sustainability: “The hycuTEC process excels as a future-proof technology due to its considerably lower water and energy consumption compared to other hydro-charging concepts. This unit allows an additional drying process to be dispensed with in many applications, which has a huge impact on energy consumption”, comments Dr. Ingo Mählmann, Head of Sales & Marketing at Oerlikon Nonwoven. Incidentally, the hycuTEC unit can be easily and quickly installed and is simple to operate, set and service, while also being extremely user-friendly

Technological quantum leap

Whereas classical hydro-charging processes charge the finished non-woven material, the hycuTEC concept is based on the all-round charging of each filament. Through controlled atomization, a charge is evenly transferred to the fibers from the water spray. And a special additive is used to permanently bond the charge to the surface of each fiber. The result: filter media with a uniformly stable charge over the entire cross-section and an effective fiber surface area about 10 times greater than that of surface-charged media. Integrating the new unit into a state-of-the-art Oerlikon Nonwoven meltblown system helps achieve a uniformly high product quality across the whole production process.

Posted: March 10, 2022

Source: Oerlikon

USDA-RD State Director Announces $3 Million Investment in Mafic USA

SHELBY, N.C. — March 9, 2022 — U.S. Department of Agriculture Rural Development State Director Reginald Speight announced an investment with Mafic USA today.

Mafic USA will use a $3 million USDA Business and Industry Loan to finance the purchase of equipment to expand the capacity of its Shelby facility.

This investment reflects President Joe Biden’s remarks in last week’s State of the Union address when he spoke of the value of American made products.

“There’s something happening in America,” said Biden “The rebirth of the pride that comes from stamping products ‘Made In America.’ The revitalization of American manufacturing.”

Speight was joined by several representatives from Mafic USA, along with federal and local officials.

Mafic USA is a basalt (mafic volcanic rock) fiber manufacturing plant.

“Mafic USA is about to become to be the largest volume producer of basalt fiber once the plant reaches full capacity,” Speight said. “This underscores the President’s desire for the United States to move away from foreign supply chains and make quality products here at home.”

Posted March 10, 2022

Source: USDA/Mafic

Intradeco Holdings Invests More Than $100 Million In Central America To Expand Nearshoring, Advance Full Circularity, And Increase Solar Energy Power

MIAMI — March 10, 2022 — Intradeco Holdings is investing more than $100 million in Central America to make the most of the CAFTA-DR and nearshoring opportunities, advance full circularity, and expand solar power with three major projects, it was announced today.

The first project is the Central American Spinning Works, a state-of-the-art ring spinning mill in Honduras, which began operations earlier this year.

The second project is the creation of a manufacturing plant in El Salvador that uses 100-percent recycled yarns — both cotton and synthetics. This will allow the company to advance in its full circularity textile supply chain strategy.

The third project will allow the company to expand its solar energy power to attain 30 megawatts by the third quarter of 2022.

In making today’s announcement, Felix Siman, Intradeco chairman, said: “Today’s announcement is consistent with our 40 years of innovation and service which comes with being an integral part of the textile, apparel, and retail industries. With our comprehensive distribution channels and state-of-the-art supply chain, we can reach our customers in an efficient and cost-effective manner in the shortest time possible.”

“Intradeco is a founding member in The HUGE (Honduras, USA, Guatemala, El Salvador) Business and Investment council. Through these investments, our company is helping to create more than 1,000 jobs in Central America, while contributing to the region´s environmental sustainability objectives,” Siman concluded.

Posted March 10, 2022

Source: Intradeco

TRSA Food & Beverage And Hospitality Virtual Summits

ALEXANDRIA, Va. — March 14, 2022 — Recently, TRSA completed the Florida leg of its Reopening Tour. TRSA staff drove more than 500 road miles in Florida, adding to the nearly 8,000 miles across 30 states during the past 12-months. Other segments of the Reopening Tour covered California, the Midwest, Northeast and Southeast, with visits to more than 100 member facilities and customers’ locations. While touring, it was clear that the continuing issue of labor shortages and supply chain issues that have been plaguing the industry are still impacting everyday business. TRSA’s executive leadership is ready to take action to help keep members abreast of information sharing during these challenging times.

“Over five days last week, we visited with TRSA member operators and supplier partners at 14 laundry facilities and corporate offices across Florida. What we heard is that the linen, uniform and facility services industry is still battling an array of business challenges These range from staff recruitment/retention to supply-chain bottlenecks, rising costs for nearly everything – especially fuel and natural gas,” said Joseph Ricci, TRSA president and CEO. “While Florida, which as was never fully locked-down, has recovered across market sectors, especially tourism, the large cities and conference destinations continue to struggle with workers slowly returning to their offices and business travel returning very slowly. In response, we’re offering these virtual summits at no charge. It’s the least we can do to help these companies in their time of need.”

In order to provide the high-quality trainings, while taking account of scheduling constraints, TRSA has decided to host their Food & Beverage Summit and their Hospitality Summit at no cost to TRSA members and nonmembers. The F&B Virtual Summit will be held on March 15, 2022 and the Hospitality Virtual Summit will be held on March 16, 2022. The summits will each run from 11 am to 2 pm EST on their respective dates.

Attendees will look forward to sector-specific presentations led by industry executives offering insights into the latest trends and recent research, as well as roundtable discussions led by key senior executives.

F&B Virtual Summit Agenda

  • 11 a.m. – Welcome, Joseph Ricci, President & CEO, TRSA
  • 11:10 a.m.-12 p.m. – Robert Byrne, Director, Consumer & Industry Insights, Technomic, will update attendees on emerging trends currently impacting the F&B industry.
  • 12:10 p.m.-12:50 p.m. – F&B-specific results from TRSA’s Market & Recovery consumer and industry research will be presented for the first time by the Yes& Marketing agency. Ryan Matthews, a seasoned hospitality executive, will join to validate this research from an industry perspective.
  • 1 p.m.-1:50 p.m. – Wrapping up the webinar will be a roundtable of key senior F&B executives that will lead discussions focusing on F&B-specific issues.

Hospitality Virtual Summit Agenda

  • 11:00 a.m. – Welcome, Joseph Ricci, President & CEO, TRSA
  • 11:10 a.m.-12 p.m. – Michael Dominguez, president and CEO of Associated Luxury Hotels International, will update attendees on emerging trends currently impacting the hospitality industry.
  • 12:10 p.m.-12:50 p.m. – Hospitality-specific results from TRSA’s Market & Recovery consumer and industry research will be presented for the first time by Yes& Marketing agency. Steve Miller, a seasoned hospitality executive, will validate findings from an industry perspective.
  • 1 p.m.-1:50 p.m. – A roundtable of key senior executives from the hospitality sector will lead discussions that focus on hospitality-specific issues to close out the webinar.

TRSA strives to present pertinent information to all facets of the industry despite any obstacles that are presented. The summits are being streamed at no cost so that industry professionals have the flexibility to sit in as their schedule allows. Please see for a complete schedule: www.trsa.org/events

Posted: March 9, 2022

Source: TRSA

Rieter Announces 2021 Financial Year Was Characterized By A Rapid Market Recovery

WINTERTHUR, Switzerland— March 9, 2022 — The 2021 financial year was characterized by a rapid market recovery. As market and technology leader, Rieter succeeded in this environment in posting a record order intake, significantly increased sales compared with the previous year despite the bottlenecks in the supply chains, and generated an EBIT margin of 4.9 percent. This success is based on the investments in innovation and competitiveness of Rieter in recent years. Crisis management in the 2020 pandemic year, which aimed at benefiting from the expected market recovery after the pandemic, was also a contributing factor.

With the acquisition of three businesses from the Saurer Group, a further milestone in the implementation of the strategy has been achieved. The acquisition strengthens Rieter’s market position by completing the ring and compact-spinning system. With the laying of the foundation stone for the Rieter CAMPUS in September 2021, an important prerequisite for the expansion of the company’s technology leadership has been created.

Order Intake and Sales

The exceptionally high order intake of 2,225.7 million Swiss francs ($2,632 million) (2020: 640.2 million Swiss francs or $679 million) is broadly supported at the global level. It is based on a catch-up effect from the two prior years and a regional shift in demand for new machines and systems. Rieter believes that a major reason for this shift is the development of costs in China. This is leading to increased investment outside China, but also to investment in the competitiveness of Chinese spinning mills. The orders came primarily from Turkey, India, Latin America, Uzbekistan, China and Pakistan.

At the end of 2021, the company had an order backlog of around 1,840 million Swiss francs ($1,952 million) (December 31, 2020: around 560 million Swiss francs or $594 million).

Rieter closed the 2021 financial year with sales of 969.2 million Swiss francs ($1,028 million), which corresponds to an increase of 69 percent compared to the previous year (2020: 573.0 million Swiss francs or $608 million).

EBIT, Net Profit and Free Cash Flow

The profit at the EBIT level in the 2021 financial year was 47.6 million Swiss francs ($50.5 million), which represents 4.9-percent of sales. At the net profit level, a profit of 31.7 million Swiss francs ($33.6 million) accrued, which corresponds to 3.3 percent in relation to sales.

Free cash flow at 128.1 million Swiss francs ($135.9 million) is a result of the positive developments in earnings and net working capital.

The acquisition of three businesses from the Saurer Group for a purchase price of 321.4 million Swiss francs ($341 million) resulted in net debt of 161.9 million Swiss francs ($171.8 million); as of December 31, 2020, net liquidity amounted to 41.3 million Swiss francs ($43.8). At December 31, 2021, liquid funds amounted to 249.4 million ($264.6  illion) (2020: 283.2 million Swiss francs, or $300.5 million).

The equity ratio as of December 31, 2021, was 27.6 percent (previous year’s reporting date: 36.4 percent).

Sales by Region

Sales increased in all regions, with the exception of Africa. The highest growth of 126.0 million Swiss francs ($133.7 million) compared to 50.8 million Swiss francs ($53.9 million) in the previous year was achieved in India, followed by North and South America with 149.9 million Swiss francs ($159 million) in 2021 compared to 66.4 million Swiss francs ($70.5 million) in the previous period, and the Asian countries excluding China, India and Turkey with 318.7 million Swiss francs ($338.1 million) (2020: 184.8 million Swiss francs or $196.1 million). In Turkey, Rieter increased sales to 182.3 million Swiss francs ($193.4 million) (2020: 122.0 million Swiss francs, or 129.4 million), in China to 135.3 million Swiss francs ($143.6 million) (2020: 92.8 million Swiss francs, or $98.5 million) and in Europe to 43.3 million Swiss francs ($45.9 million) (2020: 38.4 million Swiss francs, or $40.7 million). In Africa, sales were below the prior-year level at 13.7 million Swiss francs ($14.5 million) (2020: 17.8 million Swiss francs, or $18.9 million).

Business Groups

Despite the well-known challenges in the supply chain, the Business Group Machines & Systems posted an order intake of 1,708.6 million Swiss francs ($1,813 million)(2020: 363.9 million Swiss francs, or $386.1 million) and achieved sales of 590.3 million Swiss francs ($626.3 million), double the previous year’s figure (2020: 295.8 million Swiss francs, or $313.8 million). Ring and compact-spinning systems, on whose customer benefits Rieter has worked intensively in recent years, were particularly in demand.

The order intake of the Business Group Components was 296.0 million Swiss francs ($314 million), 75 percent above the previous year’s level (2020: 169.1 million Swiss francs, or $179.4 million). Against the backdrop of successful strategy implementation and good capacity utilization at spinning mills worldwide, sales increased to 231.5 million Swiss francs ($245.6 million) (2020: 174.3 million Swiss francs, or $184.9 million).

The Business Group After Sales recorded an order intake of 221.1 million Swiss francs ($234.6 million), 106-percent higher than the previous year (2020: 107.2 million Swiss francs, or $113.7 million). Sales reached a level of 147.4 million Swiss francs ($156.4 million) (2020: 102.9 million Swiss francs, or $109.2 million). The positive evolution of the Business Group After Sales was also significantly influenced by successful strategy implementation and good capacity utilization at spinning mills around the world.

Acquisition of three Saurer businesses

Effective from December 1, 2021, Rieter is consolidating the components businesses acquired from Saurer. With the acquisition of Accotex (elastomer components for spinning machines) and Temco (bearing solutions for filament machines), Rieter is strengthening its market position in the components business.

The acquisition of the third business from Saurer (automatic winder) completes and thus considerably increases the attractiveness of Rieter’s ring and compact-spinning system. This acquisition marks an important milestone in the implementation of the company’s strategy as an innovative systems supplier. The transaction is expected to be finalized in the first half of 2022.

Rieter CAMPUS

On September 8, 2021, at the Winterthur location, the foundation stone was laid for the Rieter CAMPUS, which includes a customer and technology center as well as an administration building. With the Rieter CAMPUS, the company is creating a state-of-the-art and creative working environment, ensuring access to cutting-edge European technology and enhancing its ability to attract young talent. Thus, the Rieter CAMPUS will make an important contribution to the implementation of the innovation strategy and to the enhancement of the company’s technology leadership position.

Dividend

In view of the profit of 31.7 million Swiss francs ($33.6 million) at the net profit level in the 2021 financial year, the Board of Directors proposes to the shareholders for 2021 the distribution of a dividend of 4.00 Swiss francs per share ($4.24). This corresponds to a payout ratio of 57 percent.

Changes to the Group Executive Committee

With effect from March 1, 2021, the Board of Directors of Rieter Holding AG appointed Roger Albrecht as Head of the Business Group Machines & Systems and a member of the Group Executive Committee.

Board of Directors and Annual General Meeting

At the 130th Annual General Meeting held on April 15, 2021, the shareholders approved all motions proposed by the Board of Directors. The Chairman of the Board Bernhard Jucker and the Directors This E. Schneider, Hans-Peter Schwald, Peter Spuhler, Roger Baillod, Carl Illi and Luc Tack were confirmed for a further one-year term of office. Stefaan Haspeslagh was newly elected to the Board of Directors for a one-year term of office. This E. Schneider, Hans-Peter Schwald and Bernhard Jucker, the members of the Remuneration Committee who were standing for election, were also each re-elected for a one-year term of office.

Changes to the Board of Directors

The two members of the Board of Directors, Luc Tack and Stefaan Haspeslagh, resigned from Rieter’s Board of Directors with effect from August 30, 2021.

Outlook

Rieter anticipates a gradual normalization of the demand for new systems in the coming months. The company expects demand for wear and spare parts to remain at a good level due to high capacity utilization at spinning mills.

For the full year 2022, due to the high order backlog and the consolidation of the businesses acquired from Saurer, Rieter anticipates sales of around 1,500 million Swiss francs ($1,592 million). Sales in the second half of 2022 are expected to be higher than in the first half of the year.

The realization of sales from the order backlog continues to be associated with risks in relation to the well-known bottlenecks in the supply chains, the ongoing pandemic and the geopolitical uncertainties. Despite the price increases already implemented, the rise in global costs poses a risk to the development of profitability.

Thank You

The Board of Directors and the Group Executive Committee wish to thank all Rieter employees for their great dedication under the very difficult conditions in financial year 2021. It was only possible to cope with the rapid market recovery, the bottlenecks in the supply chains and the ongoing COVID pandemic thanks to the great commitment of the employees and their loyalty to Rieter. Our customers, suppliers and business partners who for their part had to overcome major challenges also deserve a big thank you for their loyalty to the Rieter Group. We express our heartfelt thanks to the Rieter shareholders for their trust and hope to be able to welcome them again in person at the Annual General Meeting next year.

Posted: March 9, 2022

Source: Rieter

Soorty, Left Hand Twill Collaborate On “Own Your Denim” — A Capsule With A Digital Vintage Collection

NEW YORK CITY — March 9, 2022 — Soorty, a Pakistan-based vertically integrated denim company, has partnered with Solomon Russel, founder of Left Hand Twill (LHT) — a company built around a desire to conscientiously better the fashion consumption model in America — to launch the Own Your Denim Collection.

LHT began as a vintage buying/selling company and has organically grown into a brand of its own. LHT’s objective is to reduce the pounds of textiles that are placed in landfills every year; by offering an array of finely curated vintage denim and denim accessories. LHT is dedicated to helping consumers find the perfect pair of jeans while expanding their knowledge on the vast world of denim.

As environmentally minded brands, LHT and Soorty worked together to showcase the viability of used clothing as an alternative to fashion goods that are sadly being perceived as disposables after a couple wears. The solution is to educate and provide more outreach to communities who are the prime buyers and create more of an attainable and responsible option. The capsule is a recreation of 10 selected pieces from Solomon Russel’s archive which were updated using only the most responsible denim fabrics woven with sustainable fibers using smart technologies. The patterns were prepared to recreate what was once vintage, geared for the modern wearer. Each piece has a beautifully written poem attached which are originally dedicated to people who are special to Solomon. This adds value to the existence of the collection with the idea of people owning their clothes — to realize that there is so much effort and value in each one of the pieces in the collection. Soorty used its capabilities to design laundry processes that use less of each limited material while making the best use of them. Every single piece is a responsible denim piece. Solomon and Soorty worked very closely during this entire process, paying close attention to every single detail. The teams ensured that the fit and silhouettes are size and body inclusive.

In addition to the physical pieces, Soorty utilized its 3D Evolution Studio where their highly talented experts are tackling the boundaries of digital fashion every day, and prepared digital pieces for each one of the garments in the capsule collection. This resulted in the first ever digital vintage collection there is, made specially for this purposeful capsule. The team has brought together the digital garments into two clips inspired by the big movies & cinema movement of the 70s. After the “golden age of Hollywood” ended in the early 60s, a new wave of cinema came up which gave power to a younger and more unpredictable group of directors & actors who weren’t afraid to reflect the changing culture of the time they lived in on to the big screen. Inspired by the days of disco and reflection of urban reality: raw, renewed & unfiltered, the 70s inspired transitional effects where each garment is introduced with an iconic yellow title like a main character/actor. This is a symbol of Solomon’s contribution to the dialogue about clothing and its’ relationship with American culture through his pieces. The fashion industry has been undergoing large scale changes as a direct result of the rise of technology and its impact on consumer behavior. Technologies are changing the way people shop — through social media apps, retail shops, augmented realities. Creating a new and different experience sets brands apart from the rest in an over catered fashion world.

“OWN YOUR DENIM is about understanding our clothes’ real value — the effort, the labor & resource behind every single one of them,” said Eda Dikmen, marketing and communications manager, Soorty. “Attaching to our garments and forming real bonds that will extend the product life cycle. This is why collaborating with Solomon on this collection was an absolute pleasure for our entire team on so many levels — we’ve started with a journey to his archives, got to learn about denim pieces with an history, recreated them using only the most socially & environmentally responsible options we have, ensured all is inclusive so they’ll owned by us all, and prepared a branding that literally attaches sentiments to garments. The end product is something beautiful, prepared by us, for us… so you can’t just throw it away when (if you ever are) done with it. The most one can do is to gently pass it on to someone else who’ll love it for years to come. And that’s the whole aim. As a pioneer of digital fashion in the denim industry, we’ve challenged ourselves to take one more step further; to create the world’s first digital vintage collection. So happy to see how it all came together.”

Soorty and LHT welcome guests and customers to view the capsule collection at Soorty’s new creative room in Flatiron NYC, SpaceD. Soorty’s SpaceD serves as a meeting location for the brands and conscious individuals to actively meet new innovative, game changing creatives, and to build valuable collaborations and partnerships in the future. These brands aim to accelerate progress towards a sustainable denim sector, in which denim clothing and fabrics are used smartly and economically, and waste and pollution are kept to a minimum.

Soorty is committed to sustainable garment production at scale for denim garments while respecting our planet by using its resources smartly. Soorty defines themselves as engineers at heart with a need to be restorative by design. Innovation is radical responsibility and they are crafting the future with this consciousness, step by step, every single day. Collaborating with LHT and Solomon for this capsule collection is a very solid step in reaching sustainability goals and evolving with the digital times.

Posted: March 9, 2022

Source: Soorty / Left Hand Twill (LHT)

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