Rieter Annual General Meeting 2022: All Motions Approved

WINTERTHUR, Switzerland — April 7, 2022 — The coronavirus also had an impact on the 131st Annual General Meeting of Rieter Holding Ltd., Winterthur, Switzerland, on Thursday, April 7, 2022.

Based on Article 27 of Regulation 3 on measures to combat the coronavirus (COVID-19), the board of directors of Rieter Holding Ltd. decided that shareholders can exercise their voting rights exclusively by authorizing the independent proxy. Shareholders therefore could not attend the Annual General Meeting in person. The Annual General Meeting was held on the premises of Rieter Holding Ltd. at the company’s headquarters in Winterthur.

At the Annual General Meeting of Rieter Holding Ltd. on April 7, 2022, the independent proxy represented a total of 1 986 shareholders who hold 64.4 percent of the share capital.

The shareholders approved the proposal of the board of directors to distribute a dividend of 4.00 Swiss francs per share. In addition, they approved the proposed maximum total amounts of the remuneration of the members of the board of directors and of the Group Executive Committee for fiscal year 2023.

Chairman of the Board Bernhard Jucker, and the members of the board of directors Hans-Peter Schwald, Peter Spuhler, Roger Baillod and Carl Illi, were confirmed for an additional one-year term of office. Sarah Kreienbühl and Daniel Grieder were newly elected to the board of directors for a one-year term of office.

Furthermore, 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. Sarah Kreienbühl was newly elected to the Remuneration Committee and is taking over the chair.

Shareholders also adopted all other motions proposed by the Board of Directors, namely the approval of the annual report, the financial statements and the consolidated financial statements for 2021, and formal approval of the actions of the members of the Board of Directors and those of the Group Executive Committee in the year under review. In addition, the authorized capital was extended for a further two years.

Posted: April 7, 2021

Source: Rieter Holding Ltd.

Applied Composites, A Portfolio Company Of AE Industrial Partners, Acquires North Coast Composites And North Coast Tool & Mold From Unitech

LAKE FOREST, Calif. — April 5, 2022 — Applied Composites Holdings LLC — an aerospace, space and defense composites supplier — announced today that it has acquired The companies of North Coast LLC, a manufacturer of Resin Transfer Molded (RTM) composite structures and tooling, from Unitech Holdings Inc. (Unitech). Terms of the transaction were not disclosed.

This marks the sixth acquisition by the Applied Composites platform created by AE Industrial Partners LP (AEI), a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets.

North Coast consists of North Coast Composites and North Coast Tool & Mold, Unitech divisions located in the same facility in Cleveland, Ohio. North Coast Composites is a manufacturer of advanced composites for aerospace production through state-of-the-art fabrication of RTM and Vacuum-Assisted Resin Transfer Molded (VARTM) components. North Coast Tool & Mold Corp. is a designer and manufacturer of quality molds and tools for the aerospace industry and a provider of a wide range of innovative manufacturing solutions. With a reputation for stellar customer service, North Coast counts many of the world’s leading aerospace and defense OEMs as customers.

“We are excited for North Coast to become a part of Applied Composites,” said David Horner, CEO of Applied Composites. “North Coast’s best-in-class RTM and tooling capabilities are important to Applied Composites and help to reinforce our leadership position in advanced composite solutions throughout our core aerospace, defense and space markets.”

“We have been strategically focused on building a complementary set of capabilities able to deliver a one-stop set of composite solutions to our customers,” said Jon Nemo, senior partner at AEI. “North Coast and RTM are strategic additions to Applied Composites and our ability to serve our growing list of OEM partners.”

Kirkland & Ellis served as legal advisor and RSM served as financial advisor to Applied Composites. Vedder Price P.C. was the legal advisor and Moelis was the financial advisor to Unitech.

Posted: April 6, 2021

Source: Applied Composites; AE Industrial Partners

CIT Arranges Financing For Noted Fashion Brand Kenneth Cole Productions Inc.

NEW YORK CITY — April 5, 2022 — CIT, a division of First Citizens Bank, today announced that its Asset-Based Lending business served as lead arranger on financing for men’s and women’s fashion brand Kenneth Cole Productions Inc.

Headquartered in New York City and founded in 1982, Kenneth Cole Productions is known worldwide for its fashion products spanning the footwear, handbag, apparel and fragrance categories. This new financing — arranged by CIT with participation from WhiteHawk Capital Partners — will be used by the company to refinance existing debt and support future growth opportunities.

“With the global pandemic receding, Kenneth Cole Productions is well positioned for growth due to the continuing strength of consumer spending and demand for branded products,” said Andrew Stokoe, CFO at Kenneth Cole Productions. “We appreciate CIT’s expertise in arranging this financing that will help us achieve our strategic business objectives.”

“Kenneth Cole is an internationally recognized brand with strong performance and potential across a number of product categories,” said Chris Esposito, managing director and group head for CIT’s Asset Based Lending business. “We were pleased to assist them in arranging this financing.”

CIT’s Asset-Based Lending business meets clients’ working capital needs by offering innovative structures that reduce funding costs and lower operational risks while improving earnings by leveraging accounts receivable, inventory or fixed assets as collateral.

Posted: April 6, 2021

Source: CIT, a division of First Citizens Bank

BastCore Partners With Texas Tech University To Bring Closed Loop Green Chemistry Solutions To Market

MONTGOMERY, Ala. — April 6, 2022 — BastCore has partnered with Texas Tech University (Fiber and Biopolymer Research Institute) to create a new platform that will deliver novel fiber solutions utilizing its Mcore product in addition to an environmentally friendly process for degumming, or delignification. The initial scope of work is to assess BastCore’s chipped core wood (hurd) composition.

“We are very excited about this research collaboration and looking forward to applying our expertise in various polymers, fibers, and biopolymers to hemp fibers and hurd. This project will target the full utilization of hemp biomass and will be based on biomass delignification and its transformation to bioproducts using a green chemistry approach. Accomplishing this goal will result in major advances in high-value products from hemp,” said Noureddine Abidi, director of the Fiber and Biopolymer Research Institute at Texas Tech University.

“We are pleased to be working with the team at Texas Tech that has decades of in-depth experience working with numerous crops utilized in the textile industry. Their successful track record will prove to add value for BastCore’s research and development efforts”, said BastCore CEO Coleman Beale.

Posted: April 6, 2021

Source: BastCore

Texprocess 2022: Trade Fair Is Back

FRANKFURT, Germany — April 6, 2022 — The garment and textile processing industry is looking forward with great anticipation to Texprocess, the leading trade fair for the sector, which will finally open its doors again in Frankfurt from June 21-24, 2022. “After three years have passed since the last Texprocess, the industry has a lot of catching up to do in terms of face-to-face communication,” said Elgar Straub, managing director of VDMA Textile Care, Fabric and Leather Technologies at the international press conference for Texprocess in Frankfurt. “Exhibitors want to show what innovations they have developed in the last three years. They have hardly had the opportunity to show these to a larger audience since the pandemic began. In turn, visitors are looking for solutions for more sustainable, more flexible and also more regional production. Accordingly, the expectations for Texprocess are enormous and linked to the hope that many necessary investments will be made. The pandemic has shown that no virtual meeting can replace face-to-face exchanges on site.”

Industry records significant increase in order intake

German manufacturers of Textile Care, Fabric and Leather Technologies ended the year 2021 with positive figures. Incoming orders increased by 35 percent in 2021 compared to the previous year. In the sewing and garment technology sector, German machinery manufacturers were also able to increase exports in 2021 by 7 percent to 439 million euros. The most important export market from a German perspective was Poland, followed by the United States and France. Exports also recovered at European level in 2021. Exports from the E.U. countries as a whole rose by 8.5 percent to 1.356 billion euros. The most important markets for E.U. exports were Germany, the United States and Poland. “Companies’ order books are well filled after the pandemic-related slumps in 2020,” Straub said. “However, rising raw material prices, massive delivery delays for precursors, expensive and difficult transport conditions, and huge increases in energy costs continue to pose major challenges for many technology manufacturers. Added to this are now the unforeseeable consequences caused by the war in Ukraine. ”

VDMA Textile Care, Fabric and Leather Technologies is the conceptual partner of Texprocess

Texprocess is the leading international trade fair for the processing of textile and flexible materials. From June 21-24, 2022, for the sixth time, international exhibitors will present to trade visitors at Texprocess the latest machinery, equipment, processes and services for garment manufacturing and textile and flexible materials. Techtextil, the leading international trade fair for technical textiles and nonwovens, and Heimtextil, the international trade fair for home and contract textiles, will be held parallel to Texprocess.

Posted: April 6, 2021

Source: VDMA

CIT Names New Business Development Leaders And Account Executive-Team Leader In Commercial Services

NEW YORK CITY — April 6, 2022 — CIT, a division of First Citizens Bank, today announced that its Commercial Services business is promoting and hiring new business development leaders to support clients and drive growth in factoring finance in the Northeast and West.

In the Northeast, Howard Moore and Paul Pagano are joining CIT’s Commercial Services group as business development directors. Both are based in New York and hold responsibility for developing, maintaining and expanding client and prospect relationships across a wide range of business verticals.

“Howard and Paul are experienced financial professionals with the expertise and skill sets needed to help grow our business,” said Tom Fingleton, managing director and northeast regional manager for CIT Commercial Services. “The addition of these leaders demonstrates CIT’s commitment to supporting our clients and continuing to drive growth in this sector.”

Moore joins CIT after most recently serving as vice president at Revolution Capital. Having specialized in multiple different industry segments, he brings 15 years of experience in factoring, asset-based lending and specialty lending, having earlier worked in development positions at various financial institutions, including Rosenthal & Rosenthal and Gerber Finance.

Pagano comes to CIT from Milberg Factors, where he served as vice president. He has 25 years of financing experience in a range of industries, including factoring and commercial finance, apparel and design. Pagano earlier served in leadership positions at Global Design Concepts, Ike Behar Apparel and Design, Le Tigre and Christian Dior Couture.

In the West, Michael Rayner has been promoted to director and team leader. Based in Los Angeles, he helps cover the western region with responsibility for leading a team of account executives in overseeing and growing their respective portfolios while also effectively managing risk and driving growth.

“Michael’s tenure with CIT and his deep experience in supporting clients make him the perfect choice to lead this team of bankers in providing factoring and other financial services throughout the region,” said Darrin Beer, managing director and western regional manager for CIT Commercial Services.

Rayner has been with CIT for over 20 years, most recently serving as a vice president, account executive in Commercial Services. He previously served as a senior underwriter at CIT and held various positions at Heller Financial including underwriter, unit manager and credit analyst. Rayner has extensive experience in portfolio management, client relations and new business generation.

Commercial Services, part of CIT’s Commercial Finance division, is one of the nation’s leading providers of working capital solutions, factoring, credit protection, accounts receivable management and lending services to consumer product companies, manufacturers, dealers, importers and resellers.

Posted: April 6, 2021

Source: CIT, a division of First Citizens Bank

Techtextil North America International Pavilion Highlights

ATLANTA — April 6, 2022 — This May, Techtextil North America, collocated with Texprocess Americas, will return to Atlanta for the first time since 2018 to reunite the technical textiles, nonwovens and sewn products industries. With travel restrictions easing across the globe, organizers are eager to welcome the return of international participants

German Pavilion

Techtextil North America will feature 37 companies representing the German textile, nonwovens, and textile-machinery industries. The pavilion is organized by The  Federal  Ministry  for  Economic  Affairs  and  Climate  Action (BMWK), in cooperation with the Association of the German Trade Fair Industry  (AUMA), who together act as organizers of German participants at trade fairs, exhibitions and events abroad.

Exhibiting companies include:

  • American Starlinger-Sahm;
  • American Truetzschler;
  • AUTEFA Solutions Germany;
  • Bachmann Kunststoff Technologien;
  • Brückner Textile Technologies;
  • Bullmer;
  • Devan Chemicals;
  • Dietze & Schell Maschinenfabrik;
  • Dr. G. Kast;
  • Emtec Electronic;
  • Georg Sahm;
  • H.u.W. Schmänk;
  • HERGETH;
  • Human Solutions of North America;
  • ISRA Surface Vision;
  • J. Kaulhausen & Sohn Textiltechnik;
  • Kastilo Technische Gewebe;
  • Lucas America;
  • Maschinenfabrik Herbert Meyer;
  • MEHLER ENGINEERED PRODUCTS;
  • Merz Maschinenfabrik;
  • Monforts Textilmaschinen;
  • Monosuisse Germany;
  • Norafin Industries (Germany);
  • OLBRICH;
  • PLEVA;
  • Polyvlies Franz Beyer;
  • Pulcra Chemicals;
  • RSG Automation Technics;
  • SACO Software and Consulting;
  • SIEBFABRIK Arthur Maurer;
  • SIMA;
  • Stäubli;
  • Stäubli Bayreuth;
  • Südwolle;
  • Tenowo; and
  • The Filament Factory.

Italian Pavilion

Organized by The Association of Italian Textile Machinery Manufacturers (ACIMIT) and the Italian Trade Agency, the Italian Pavilion will feature 17 Italian machinery manufacturers involved in the production of machines for technical textiles.

Companies include:

  • 4M Plants;
  • Aeris;
  • Arioli;
  • Computer House;
  • EmmeBi Impianti;
  • Fadis;
  • Flainox;
  • Guarneri Technology;
  • I.M.A.;
  • Kairos Engineering;
  • MCS;
  • Ramina;
  • Siltex;
  • Stalam;
  • Testa;
  • Willy Italiana; and
  • Zanfrini.

Turkish Pavilion

The Turkish Pavilion will feature four companies representing Turkey’s textile industry:

  • Agteks Ltd.;
  • Elteksmak LTD STI;
  • Polteks Tekstil Makineleri San. Ve Tic. Ltd. STI; and
  • Stillteks.

In addition to pavilions, other countries represented at Techtextil North America include: Austria, Belgium, Canada, Colombia, Czech Republic, Finland, France, Great Britain and Northern Ireland, India, Indonesia, Japan, Korea, the Democratic People’s Republic of Korea, the Republic of Mexico, Netherlands, Poland, Portugal, Slovakia, Spain, Sweden, Switzerland, Taiwan, Turkey, United Arab Emirates, and the United States.

Advanced Pricing ends April 15th. Registration for Techtextil North America can be completed here: https://xpressreg.net/register/ttna0522/nav.asp?sc=PR3

Posted: April 6, 2021

Source: Messe Frankfurt North America

Techtextil North America 2022 Exhibitor Preview: Monforts

Monforts Montex®Coat coating units serve a diverse number of markets.

MÖNCHENGLADBACH, Germany — April 5, 2022 — Monforts will highlight its advanced finishing and coating technologies for the production of technical textiles at Techtextil North America, which takes place at the Georgia World Congress Center in Atlanta from May 17-19.

The company and its U.S. representative PSP Marketing, Charlotte, N.C., will be part of the centerpiece VDMA German Pavilion at the show in Stand 1936, Hall B3.

European-built Montex tenters have earned their leading position on the market for fabric finishing due to their robustness, reliability and economy. Existing technical textiles customers include manufacturers in the fields of home textiles, geotextiles, automotive fabrics, as well as functional materials. Dedicated Montex lines have also been supplied to producers of airbags, flame retardant barrier fabrics and spacer fabrics, as well as high-temperature filter materials.

“Technical textiles are extremely diverse in their end-use applications but the needs of the manufacturers of very different materials are still uniform in many respects,” said Monforts Managing Director Stefan Flöth. “Montex stenters provide maximum efficiency, the ultimate in flexibility and the ability to switch quickly from one fabric formula to the next. Many of our customers need to operate 24 hours a day over seamless shift systems.”

Energy prices

With energy prices continuing to go through the roof, an emphasis at Techtextil North America will be on the energy and heat recovery that can be achieved with Montex tenters, through features such as the MonforClean system, in which waste heat from the drying process is used to preheat the drying air. This results in a radical reduction in the conventional heat supply required. A range of further resource-saving and energy recovery options can be specified per individual line installation.

Advanced machine operation

With the highly intuitive Qualitex 800 visualization software, all article-specific settings can be stored and the formulations for thousands of treatment processes called up again at any time. Individual operators can also personalize their dashboards with the most important machine functions and process parameters.

“The easy to use HMI makes the operation of the line much simpler and cuts down the necessary training periods, while at the same time reducing the chance of human error,” observed PSP Vice President Alex Franco.

The Qualitex 800 system is available for the automatic and continuous operation of the company’s Montex tenters, as well as its Thermex continuous dyeing ranges, Monfortex shrinking systems and Montex®Coat coating units.

Versatility is the key

Monforts Montex Coat coating units serve an equally diverse number of markets, including tents, tarpaulins and awnings, black-out roller blinds and sail cloth, automotive interior fabrics and medical disposables. Full PVC coatings, pigment dyeing or minimal application surface and low penetration treatments and solvent coatings (in explosion-proof conditions) with knife coating, roller coating or screen printing can all be accommodated with this system.

“Technical textiles are a key pillar of our production program and North America is one of our major markets, which makes Techtextil North America a very important show for us,” Flöth concluded. “We are looking forward to reconnecting with customers old and new at this always-vibrant show.”

Posted: April 5, 2021

Source: A. Monforts Textilmaschinen GmbH & Co. KG

Crealet: One-Stop Source For Warp Feeding And Weaving Preparation

WALD, Switzerland — April 5, 2022 — Crealet has developed as a one-stop source for comprehensive consulting and solutions, with two key business partnerships bringing synergies and added value. The Switzerland-based manufacturer of electronic warp feeding systems has joined forces with COMSAT and AEI to broaden the expertise and technology range available to customers and expand into a new industry segment.

Since its start-up nearly 20 years ago, Crealet has earned the reputation as a global leader in the development and manufacture of electronic warp feeding systems for both wide and narrow fabric weaving. Two decades of knowledge and experience underpins its latest high-quality warp let-off systems for weaving from warp beams and creels. Customized warp let-off applications, especially for technical, sophisticated and sensitive fabrics, are regarded as Crealet specialties. The market for smart electronic warp let-offs has now become a core business. “We see growth opportunities in the production of warp let-off devices for high-tech fabrics that require standardized processes for consistent high quality,” said Crealet CEO Andreas Wirz.

Perfect preparation and feeding

Constant tension throughout the warp — from full to empty beam — is essential for quality end-products. Accurate feeding of the warp threads from beams is possible only if warp beam preparation is impeccable. The new partnership will enable a wider view of end-product optimization for Crealet customers in key markets such as Germany, Austria and Switzerland.

COMSAT (Construcciones Mataró Servicios y Asistencia Tecnica) is a Spanish company producing sectional and direct warping machines and creels, as well as inspection machines, batching motions and selvedge thread warpers. Its products have brought extra value to Crealet solutions since its initial link-up in 2016. Today, the united competences of the firms provide a winning combination for weavers in the D-A-CH region.

New partner, new market

Always attempting to extend its customer offering, Crealet was seeking the chance to cover more options in weaving preparation. The new partnership with Appalachian Electronic Instruments (AEI) provided the answer. This US company has specialized in quality and process control for the textile industry for 60 years, developing and manufacturing quality assurance solutions in warp knitting and warp preparation for global markets. AEI engineers transform customer suggestions into practical applications for the textile industry’s constantly changing needs.

Combining AEI know-how with Crealet’s depth of knowledge in warp feeding opens up a promising market opportunity in warp knitting – a new area for Crealet. Now, customers wishing to upgrade their machines with automatic warp feeding have an appealing new option. “With our partnerships, we’re convinced we can offer ideal solutions, especially in the areas of electronic warp yarn feeding for warp knitting machines and warp preparation for small and large warp beams in weaving mills,” Wirz said.

Know-how in person

The Crealet booth at Techtextil Frankfurt presents a one-stop view of enhanced customized warp feeding systems and weaving preparation solutions. With two knowledgeable partners, Crealet now offers consulting with far more comprehensive know-how. The Crealet team looks forward to welcoming ambitious weavers and warp knitters in hall 12.0 at booth B11 – to introduce its wide range of products and be challenged with questions.

Posted: April 5, 2021

Source: Crealet AG

VDMA Announce Significant Increase In Incoming Orders

NUREMBERG, Germany — April 5, 2022 — German manufacturers of Textile Care, Fabric and Leather Technologies ended the year 2021 with positive figures. Incoming orders increased by 35 percent in 2021 compared to the previous year. Exports also increased again in 2021: In the sewing and garment technology sector, German machine manufacturers were able to increase exports by 8 percent to 439 million euros.

Poland main export market

The most important export market from a German perspective was Poland, followed by the United States and France. German suppliers of shoe and leather technology increased their exports by 16 percent to 47.5 million euros ($51.7 million). Here, the main customer countries were the United States, France and Mexico. Exports of German laundry and textile cleaning technology also increased by 6 percent to 364 million euros in 2021 ($396 million). The most important export markets here were Poland, Turkey and the United States. From a European perspective, exports also recovered in 2021. Exports of Italian sewing and garment technology, for example, rose by 11.5 percent to 271 million euros ($295 million) and Italian shoe and leather technology also increased by more than 19 percent to 284 million euros ($310 million). Spain was also able to increase exports of laundry and textile cleaning technology by 12 percent to 87 million euros ($95 million).

“Companies’ order books are well filled after the pandemic-related decline in 2020,” said Elgar Straub, managing director VDMA Textile Care, Fabric and Leather Technologies.

“However, the ever-increasing prices for raw materials, the massive supply bottlenecks for preliminary products, the expensive and difficult transport conditions and the enormously increased energy costs are very challenging for many technology manufacturers. Added to this are now the unforeseeable consequences of the war in Ukraine.”

Industry meeting on site in Nuremberg

After two years, the VDMA Textile Care, Fabric and Leather Technologies was finally able to hold its industry meeting on April 4 and 5 in Nuremberg again in presence. “As we have learned in the pandemic over the last two years, no virtual meeting can replace personal exchange on site,” Straub added.

Participants were able to learn about current topics in workshops on “Sustainability in the textile industry in dialogue with the mechanical engineering sector” and “Increasing protectionism in the USA-China-EU triangle and the impact on mechanical engineering”, as well as about the EU Green Deal and current developments in the sewing and garment industry and the textile care industry in the United States. Messe Frankfurt gave the participants an update on Texprocess in June 2022, the long-awaited first leading trade fair for the sector in three years.

Election to the Board

During the industry meeting, VDMA TFL expanded its board by a further four members — including an additional Italian representative.

Posted: April 5, 2021

Source: VDMA

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