Rieter Reports On First Half Of 2021

WINTERTHUR, Switzerland — July 15, 2021 — Rieter posted an order intake of 975.3 million Swiss francs ($1.1 billion), which corresponds to an increase of 289 percent compared to the previous year period (first half of 2020: 250.7 million Swiss francs ($278 million)). The recovery is broadly supported globally and is based on a catch-up effect relating to the years 2019 and 2020 and a regional shift in demand. Rieter is benefiting from its innovative product portfolio and the company’s global positioning. The highest order intake was recorded in Turkey. On June 30, 2021, the company had an order backlog of about 1,135 million Swiss francs ($1.23 billion) (June 30, 2020: about 490 million Swiss francs ($531 million).

Order Intake by Business Group

In the Business Group Machines & Systems, order intake amounted to 714.8 million Swiss francs ($775 million) (first half of 2020: 129.2 million Swiss francs ($140 million)). In the Business Group Components, order intake rose to 154.9 million Swiss francs ($168 million) (first half of 2020: 76.7 million Swiss francs ($83 million)), and in the Business Group After Sales it increased to 105.6 million Swiss francs ($115 million) (first half of 2020: 44.8 million Swiss francs ($49 million)).

A key driver of growth in the machinery business has been the demand for innovative complete systems in the areas of ring and compact spinning. The successful commercialization of the compacting devices and the piecing robot ROBOspin, launched in 2019, contributed to the increase in the Business Groups Components and After Sales.

Sales by Business Group

The Rieter Group recorded sales of 400.5 million Swiss francs ($434 million) (first half of 2020: 254.9 million Swiss francs ($276 million)). Sales significantly increased compared to the previous year period; however, as expected, they were still impacted by the low order intake of the financial year 2020.

In the first half of 2021, the Business Group Machines & Systems realized sales in the amount of 218.9 million Swiss francs ($237 million), which corresponds to an increase of about 83 percent compared to the previous year period.

Spinning mills are working at good capacity levels with an increased demand for components as well as spare and wear parts, which is the reason for the positive development in the Business Groups After Sales and Components. In the Business Group Components, sales rose to 112.4 million Swiss francs ($121 million) (+28 percent), and in the Business Group After Sales to 69.2 million Swiss francs ($75 million) (+46%).

Sales by Region

In the Asian countries, Rieter recorded sales of 137.0 million ($149 million) (+57 percent) for the first half of the financial year 2021. In China, sales rose by 85 percent to 68.5 million Swiss francs ($74 million) due to spinning mills investing in the improvement of their competitiveness. The recovery of the market in India resulted in a significant increase of 188 percent to 51.0 million Swiss francs ($55 million). In Turkey, sales improved slightly to 59.8 million Swiss francs ($65 million) (+17 percent). Sales increased by 94 percent to 59.8 million Swiss francs ($65 million) in the region North and South America, driven by a considerable increase in demand in Latin America.

EBIT, Net Profit and Free Cash Flow

In terms of EBIT, Rieter posted a profit of 9.0 million Swiss francs ($9.8 million) for the first half of 2021 and a net profit of 5.3 million Swiss francs ($5.8 million). A one-off effect associated with the reversal of allowances for machinery that was delivered in the first half of 2021 contributed to this development. Free cash flow amounted to 53.2 million Swiss francs ($58 million), which was considerably influenced by the advance payments received from customers in conjunction with the significantly increased order intake.

Strategy Implementation and Crisis Management

In recent years, Rieter has consistently implemented its strategy based on the cornerstones of innovation leadership, strengthening the components, spare parts and services businesses, and adjusting cost structures.

Crisis management in the pandemic year of 2020 was aimed at protecting employees, fulfilling customer commitments, ensuring liquidity, and also strengthening the market position for the time after the pandemic as well as retaining the ability to benefit from the incipient market recovery.

The focus for 2021 remains on the implementation of this strategy. The measures for crisis management relating to the protection of employees and fulfilling customer commitments are still in effect in countries that continue to be affected by the pandemic.

The Rieter Board of Directors has approved the implementation of the CAMPUS project. The Rieter CAMPUS comprises a customer and technology center as well as an administration building at the Winterthur location. It will make an important contribution to the implementation of the innovation strategy and to the enhancement of Rieter’s technology leadership position.

Outlook

As already announced, the first half of 2021 has been characterized by a strong market recovery in combination with a regional shift in demand for new machinery and systems. Rieter anticipates a normalization of the demand for new systems in the coming months. The company assumes that spinning mills will continue to work at high-capacity levels.

For the full year, Rieter expects sales to be above 900 million Swiss francs ($976 million).

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 key markets for Rieter.

Posted July 15, 2021

Source: Rieter

Ross Stores Announces Departure Of Travis Marquette, Executive Vice President And Chief Financial Officer

DUBLIN, Calif. — July 14, 2021 — Ross Stores Inc. announced today that Travis Marquette, the company’s executive vice president and CFO since 2019, has resigned effective immediately to accept a position with another company. The company’s senior finance executives will report to Michael Hartshorn, the company’s group president and COO, until finance leadership changes are announced in the coming months.

In commenting, Barbara Rentler, CEO, said: “ Travis has made a number of contributions over the years in various leadership roles. We thank him and wish him well in his future endeavors.”

Rentler added, “We have a very talented and long-tenured team of senior Finance executives and have confidence in their ability to aid in the continued profitable growth and market share gains for the Company.”

Posted July 14, 2021

Source: Ross Stores Inc.

Herman Miller And Knoll Shareholders Approve Merger-Related Proposals

ZEELAND, Mich./EAST GREENVILLE, Pa. — July 13, 2021 — Herman Miller Inc. and Knoll Inc. announced that, at their respective special meetings held today, Herman Miller and Knoll shareholders overwhelmingly approved their respective proposals required in order to consummate the pending acquisition of Knoll by Herman Miller. Upon completion of the transaction, Knoll shareholders will receive $11.00 in cash and 0.32 shares of Herman Miller common stock for each share of Knoll common stock they own.

Subject to the satisfaction or permitted waiver of all remaining closing conditions, the transaction is currently expected to close on Monday, July 19, 2021.

Posted July 14, 2021

Source: Herman Miller Inc.

Ruby Ribbon Strengthens C-suite Executive Team With Hiring Of Leah Cadavona As Chief Growth Officer

LOS ANGELES — July 14, 2021 — Ruby Ribbon — the social commerce-driven women’s intimates, shapewear and athleisure company — announced today the appointment of Leah Cadavona as chief growth officer.

As a global business executive with close to 25 years of results-driven experience in the U.S. and international markets, Cadavona will play an integral part in empowering and expanding Ruby Ribbon’s network of Stylists. In her role as chief growth officer, her expertise in marketing, brand, strategy, and the direct selling channel, will be used to elevate the new and current Stylist experience and support the brand’s cadre of female entrepreneurs. Her vision and leadership align with the company’s commitment to support women with confidence and opportunity.

Previously, Cadavona united cross-functional partners and teams to launch new products and programs for Nu Skin, Immunotec, JAFRA and Guthy-Renker. Her strategic and creative thinking were pivotal in the global launches of ageLOC LumiSpa, ageLOC Me, TR90, JAFRA Pro, Meaningful Beauty and Zumba, two of which are part of a multimillion-dollar beauty device franchise. Cadavona earned her B.A. from UCLA and her M.B.A. from the Thunderbird School of Global Management at Arizona State University.

Cadavona said, “I’m excited to join a company that is passionate about creating a better place for all women. It’s about time! The future is female, and I look forward to helping drive the growth of this fantastic organization that is committed to women of all shapes, sizes and shades.”

“We are thrilled to welcome Leah into the Ruby Ribbon family. Leah is a globally respected leader in social selling channels, known for driving strategic growth at several household name beauty and wellness brands,” said Ruby Ribbon CEO Clint McKinlay. “Her alignment to our vision of empowering women at scale, together with her channel know-how and collaborative approach, will help fuel Ruby Ribbon’s continued growth into 2022 and beyond. Under Leah’s leadership, Ruby Ribbon’s brand promise will come alive for our Stylists as never before.”

Posted July 14, 2021

Source: Ruby Ribbon

Organic Mattress Manufacturer Naturepedic Becomes First Non-Food Company To Complete Organic Fraud Prevention Program

CHAGRIN FALLS, Ohio — July 14, 2021 — Naturepedic has become the first non-food, certified organic product to complete the Organic Trade Association’s (OTA’s) new Organic Fraud Prevention Plan.

OTA recently launched its robust Organic Fraud Prevention Solutions program to help companies prepare for and comply with a proposed change in USDA organic regulations. The regulatory changes, expected to go into effect Spring 2022, will dramatically help to strengthen the organic supply chain, the oversight of organic systems, reduce organic fraud, and safeguard the USDA organic seal.

Naturepedic is proud to be the first non-food organic product to be certified by the OTA program as having an Organic Fraud Prevention Plan, a requirement under the new proposed Strengthening Organic Enforcement (SOE) rule. Naturepedic is currently one of just two companies to complete the certification.

“At Naturepedic, we believe in and are fully committed to maintaining the integrity of the organic standards. By taking action to fortify the organic supply chain, we are raising the bar for what it means to be organic, while safeguarding the integrity of our products for the health and well-being of consumers,” commented Barry A. Cik, founder and technical director of Naturepedic, “Being a transparent, trustworthy, certified organic brand is at the core of our purpose-driven mission. It was imperative to move forward with joining and completing the OTA’s extensive new program, as we have to do whatever we can to protect the future of organic.”

Posted July 14, 2021

Source: Naturepedic

Hyosung Publishes New Life Cycle Assessment For 100-Percent Recycled creora® regen Spandex

SEOUL — July 14, 2021 — Spandex manufacturer Hyosung has released the results of a new Life Cycle Assessment (LCA) comparing the environmental performance of its 100-percent recycled creora® regen spandex to its virgin creora spandex.

The study was conducted by third-party certifier, Networks Y, a Korea-based LCA consultancy, who performed a carbon footprint calculation — the amount of carbon dioxide emitted from the entire life cycle of a product — of both fibers from pre-manufacturing to the manufacturing stage.

The study concluded that creora regen spandex reduces carbon dioxide production by approximately 67-percent or by about two thirds compared to its creora spandex in the production of 1 kilogram.

“We know that our creora regen is unique because we only produce 100-percent recycled content, and our LCA helps quantify why that is important,” said Mike Simko, Hyosung global marketing director-Textiles.

Since the launch of Hyosung’s creora regen spandex in January 2020, the company has produced an amount of fiber to offset the number of carbon dioxide emissions equivalent to driving 1,000 times around the globe. Similarly, the production of creora regen has the green-house gas (GHG) absorption impact of enough mature pine trees to cover San Francisco’s Presidio — the world’s largest national park in an urban area spanning nearly 1,500 acres.

Hyosung’s creora regen spandex is GRS, HIGGS MSI and Oeko-tex certified. The company is in the process of obtaining a material health certificate under the Cradle-to-Cradle Certified Product Standard.

Posted July 14, 2021

Source: Hyosung

Lenzing Collaborates With Orange Fiber As Part Of New TENCEL™ Limited Edition Initiative

LENZING, Austria/CATANIA, Italy — July 14, 2021 — Lenzing Group is partnering with Orange Fiber, an Italy-based company that has patented the pulp production process for citrus by-products, to produce the first ever TENCEL™ branded lyocell fiber made of orange and wood pulp. This new product aims to realize both companies’ shared vision to enhance sustainability in the textile and fashion industry. The new TENCEL Limited Edition initiative combines the imagination, innovation and inspiration of eco-responsible textiles, through reinventing TENCEL branded fibers using unconventional sustainable raw materials.

“The introduction of TENCEL Limited Edition leverages our leading edge in highly sustainable production processes and we are proud to collaborate on this special edition fiber series with Orange Fiber.” said Gert Kroner, vice president of Global Research and Development at the Lenzing Group. “By upcycling waste materials such as orange peels in our products, we are taking proactive steps towards a more sustainable future and minimizing the environmental impact of waste.”

Seeking outside of what is conventionally available

The TENCEL Limited Edition in partnership with Orange Fiber presents a novel cellulosic fiber to further inspire sustainability across the industry value chain and push the boundaries of innovation. The fibers are currently being transformed into a new collection of fabrics which Orange Fiber will present to the market in October 2021.

“Lenzing is an industry leader in sustainable fibers and we are proud to partner with them to create this new material which will become a valuable resource for the textile and fashion industry. This pioneering production model can help revolutionize the fashion industry and empower brands who are looking for eco-responsible textile value chains,” said Enrica Arena, CEO, Orange Fiber. “With consumers becoming more eco-conscious, it is imperative for the industry to evolve in tangent and innovate with sustainable materials to stay efficient, competitive and save our planet for future generations. This virtuous synergy represents a fundamental step in our journey towards sustainable fabric production from renewable sources, validates our patent industrially, and enables us to increase our production capacity thus satisfying the needs of fashion brands.”

Innovating with partners across the supply chain

As increased regulations for sustainability pose new challenges for all levels of the supply chain, every stakeholder must work together to support this transition. From manufacturers to retailers, partnerships facilitate the exchange of resources and expertise to resolve the issue of textile pollution. The TENCEL brand aims to guide its many global textile partners in adopting and achieving an efficient closed-loop process, as well as to achieve high industry standards.

“Our cooperation with Orange Fiber showcases Lenzing’s commitment to partnering for change. We are excited to support rising industry trailblazers to bring their innovative ideas to fruition,” Kroner added. “Collaborations like these can bring about groundbreaking change, and our TENCEL Limited Edition initiative offers an opportunity for companies of all sizes to join forces with Lenzing.”

Collections produced from TENCEL Limited Edition with Orange Fiber will have dedicated marketing materials, such as special edition co-branded swing tags, which will provide relevant information about the process of production and materials involved. The goal is to encourage co-development of innovative solutions to give waste a new life and promote greater transparency in the textile and fashion industry to fully achieve sustainable industry practices.

Posted July 14, 2021

Source: The Lenzing Group / Orange Fiber

Weaving Solution: Uster Q-Bar 2 Formation Monitoring System

USTER, Switzerland — July 14, 2021 — What do weavers need? In a word, it’s security — for both fabric quality and profit margins. And for this double security, there’s only one solution: the Uster Q-Bar 2 formation monitoring system. It’s like having an extra operator dedicated to a single weaving machine.

Operators should be everywhere at the same time — checking, fixing, keeping the machines continuously running — no matter in which weaving mill, all around the globe. Operators should be as fast as world record sprinter Usain Bolt, see as good as an eagle and with the know-how of an engineer and service technician for different kinds of weaving machines. As operators with this skill set are really rare it’s a matter of fact that most of them are stressed.

Don’t risk profitability

This kind of stress can be a risk to weavers’ profitability. For example, a worn-out part might be overlooked, setting off a drama affecting margins. Defects could be repeated, showing up again and again — linear meter by linear meter — for as long as it takes to identify the fault and fix the issue. If only someone could have an eye on things, constantly.

Long-running defects can also arise from dirty parts, or from missing or inadequate maintenance. Whatever the issue, what they have in common is that they spoil lots of good fabric — worst of all in the middle of the web — and yet they can be automatically detected and damage avoided. Q-Bar 2 is the solution, working with various weaving machine types (except water-jet and jacquard).

Uster Q-Bar 2 has its inspection position within the fabric formation area, allowing it to respond quickly when a defect appears and avoid long-running or repeating faults. Alarms and stop signals alert the operator to correct problems immediately. This early detection reduces second quality and material loss.

Q-Bar 2 also monitors critical machine units in the formation zone. If there is a problem here, the system makes it easy to identify and eliminate it, preventing further defects, and again maximizing fabric yield.

Smarter than loom sensors

To err is human — which makes it essential to have machines. Smart weaving machines do point out issues to the operator, but Q-Bar 2 sees what weaving machines can’t. For example: the constantly stressed operator fixes a broken warp yarn, picking the yarn and drawing it in the reed position; loom sensors get the signal that the missing yarn is now available and accelerate to full speed within milliseconds. Immediately, an alert starts at Q-Bar 2, with a red light indicating the location of the issue. What happened? The operator picked the wrong reed position. Without the Uster formation monitoring system, the defect stayed undetected, as the operator had already moved on to fix the next issue at another machine.

Time pressure is not the only worry. Complex patterns, fine yarns and a lack of experience can all lead to wrongly drawn-in warp yarns — defects that are hard to recognize with the human eye.

Without an automatic solution in place, the problem with wrong draw-ins is usually unnoticed until it’s woven into the fabric for some meters of length.

Security for management and shop floor

The best way to avoid off-quality is simply not to make it. A zero-defect standard is what many weavers wish to achieve. Q-Bar 2 is the way forward. Weaving defects can have various root causes, so Uster Q-Bar 2 provides different algorithms to identify specific defects and their causes. With this knowledge, it is possible to prevent defects during the actual weaving process.

Uster Q-Bar 2 monitors the fabric already at the critical stage in fabric formation with automatic, in-line inspection. Identifying problems here brings enormous benefits and enables weavers to deliver constant quality and stay competitive in the market.

Operators would surely vote for Q-Bar 2 as a standard on every weaving machine. They would appreciate Q-Bar 2 as the new colleague in their team, reliably keeping an eye on the web all day long. Whether a single or repeating defect occurs, the integrated LEDs used by Q-Bar 2 would highlight the system status and pinpoint the location of defects with red lights. Wouldn’t it be great to empower operators to secure both profitability and quality.

Posted July 14, 2021

Source: Uster Technologies AG

James Heal Launches Microsite Dedicated To Testing Performance And Technical Textiles

HALIFAX, England — July 12, 2021 — James Heal, part of the PPT Group of companies, announced today the launch of its new microsite located at performance.james-heal.co.uk. The new website has been created as a dedicated resource on performance testing, which the test equipment manufacturer describes as, “testing technical textiles and fabrics, which have technical and functional benefits such as comfort and safety, across a wide spectrum of applications — from PPE, to bedding, outerwear to sports wear”.

James Heal, has developed the new microsite to showcase its range of Performance Testing instruments, whilst also providing useful resources — such as articles, videos and guides — on how to test performance textiles.

The microsite was developed separately to the main company website because, says PPT Group Marketing Manager Jenny Montgomery: “As a design and innovation leader in textile testing, it’s important for us to make information regarding our instruments and information resources easily accessible for our current and prospective customers. We decided to develop something outside of our primary website, to focus on this niche area of textile testing, and add value through an intuitive interface and personalized content, providing an easier way to learn about performance testing; why it’s needed, and to browse information based on specific applications.”

The testing equipment manufacturer says the new microsite will provide the most accurate, up-to-date information and share knowledge and expertise in the field of performance testing, across a wide spectrum of applications, including:

  • Sportswear and Activewear: clothing and footwear worn for sport or exercise, such as tracksuits, shorts, t-shirts and polo shirts.
  • Outdoor wear: includes garments that require a comfort/safety benefit such as snowsuits, ski clothing, and hiking/trekking clothing.
  • Nonwovens: from disposable consumer products such as wipes and sanitary products, to medical gowns, face masks, home decor, clothing and construction supplies.
  • Military apparel: textiles for military uniforms face a complex set of challenges when it comes to performance: they must offer maximum endurance, comfort, and protection.
  • Bedding and mattresses: include materials and products that are normally used on top of a mattress, such as mattress covers, sheets, blankets, quilts and pillows.
  • PPE: includes garments and face/body coverings used in a range of sectors; from medical, to construction, military to workwear.
  • Medical textiles: encompasses medical and hygiene applications, including those for surgical, orthopaedic, and dental uses; from personal protective equipment (PPE), bandage and dressing materials through to implantable prosthetics.
  • Tents & awnings: used for a variety of purposes – from domestic camping trips, to marquees for events, and even military-grade tents and temporary shelters.

Why performance testing is important

Continuous innovation and consumer demand in the sectors mentioned above, is driving the need for textile testing more than ever, and testing during development enables manufacturers and brands to better understand the capabilities of the fabric to inform their R&D and design decisions.

Compared with mainstream fashion garments, performance fabrics have technical or functional benefits, for comfort and/or safety. The rise in performance fabrics means there is a need for new and improved technology for testing, because the functionality of performance wear and technical textiles must be qualified by evidence.

For example, in sports performance clothing, the term ‘protection’ has expanded to embrace:

  • fit and comfort;
  • abrasion resistance;
  • insulation;
  • tear strength;
  • sweat wicking;
  • waterproofing; and
  • antibacterial and anti-UV properties.

“Therefore, it’s crucial for sportswear brands to validate and substantiate claims on performance and functionality — for example, moisture control and breathability”, explained Montgomery.

The James Heal Performance Testing range has been built for a range of applications including moisture management, dry rate testing, water repellency and wet abrasion. James Heal emphasises that their textiles performance testing instruments are designed to give confidence in their results, whether you are a manufacturer, retailer, or brand.

Posted July 13, 2021

Source: James Heal

Livinguard Launches Apparel Line Employing Odor-Neutralizing Tech With Ability to Kill Bacteria

SAN JOSE, Calif. — July 7, 2021 — Livinguard, the company that developed protective face masks with COVID-19-deactivating properties, announced today it is launching a line of odor-neutralizing t-shirts and polos in the United States employing its groundbreaking hygiene technology. This launch, putting these innovative, durable products into the hands of workers, travelers and others looking for comfortable clothing that remains odorless and hygienic over extended use and infrequent laundering, comes as a new study performed by Hohenstein Labs confirms that Livinguard’s Technology can kill bacteria at >7 log10 rate (99.99999%).

Livinguard’s proven ability to increase bacteria elimination at this scale is a watershed development in the hygiene and textile industry sector.  And the odor-neutralizing properties of Livinguard t-shirts and polos are a boon to outdoor enthusiasts and weekend warriors, and uniquely suited for use by the textile industry in the manufacture of uniforms such as those used in restaurants and industry.

Made with patented non-leaching formulations that capture and kill odor-causing bacteria, the shirts can be worn multiple times before laundering, staying protected and smelling fresh longer while saving energy and water.

“The COVID-19 pandemic has underscored the importance of hygiene technology in protecting the health of people across the world, and we continue to adapt our Livinguard Technology to new consumer products, including shirts with permanent antiviral and bacteria-fighting properties,” said Sanjeev Swamy, Livinguard’s founder and CEO. “Over the past year, the world at large has learned what we at Livinguard have always known — we must commit to embracing hygiene innovation in products we use in all aspects of our daily lives, from the clothing we wear and the linens we use, to the carpets we install and the protective products our frontline workers continue to rely on.”

“The recent findings by Hohenstein Labs reaffirms our position as an innovator in the hygiene space,” Swamy said. “Our bacteria-killing properties can save lives and have a significant impact in real-world applications.”

The principle underlying the Livinguard Technology is the deactivation of microbes including bacteria and viruses. The technology applies a positive charge at the molecular level to textile surfaces, making them more powerful than the negative charge of microbes. Therefore, microbes are deactivated when they encounter textiles treated with Livinguard Technology.

Textiles treated with Livinguard Technology have also been proven to deactivate viruses, including SARS-CoV-2* (the virus that causes COVID-19) by researchers at the Freie Universität Berlin and the University of Arizona. Furthermore, Livinguard Technology is safe for humans and the environment.

Livinguard continues to advance its technology through its own consumer products, as well as through strategic partnerships with governments, retailers, transit companies, food packaging businesses and hospitals around the world. Leveraging the turn-key Livinguard Technology, companies can transform their products with antiviral and bacteria-killing hygienic surfaces.

Posted July 13, 2021

Source: Livinguard

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