WASHINGTON, D.C. — January 2, 2026 — Arlington Capital Partners (“Arlington”), a Washington, D.C.-area private investment firm specializing in government-regulated industries, today announced that it has entered into a definitive agreement to sell Tex-Tech Industries (“Tex-Tech” or the “Company”) to Michelin.
Headquartered in Kernersville, North Carolina, Tex-Tech is a leading developer and manufacturer of proprietary, highly-engineered solutions serving aerospace, space & defense, and specialty industrial end markets. Its products are purpose-built to withstand extreme environments and support applications where performance is critical and the cost of failure is high.
Simultaneously with the sale, FMI Industries Inc. (“FMI”), which is comprised of two divisions of Tex-Tech, the recently acquired Fiber Materials, Inc. out of Spirit AeroSystems and the Engineered Composites division out of SGL Carbon, will be spun out and established as an independent Arlington portfolio company. FMI is a leader in reinforced composites, with a focus on Carbon / Carbon, Rayon / Carbon, and related composites for applications in the defense, space, and aerospace end markets. FMI will be led by Scott Burkhart, former CEO of Tex-Tech Industries.
Peter Manos, a Managing Partner at Arlington, said, “During our partnership, Tex-Tech underwent a significant transformation through sizable research and development in next generation materials and coatings, with a focus on high-growth end markets and high-cost-of-failure applications. Michelin’s global footprint makes it an excellent home for Tex-Tech to expand the penetration of its innovative products to Europe and the rest of the world. This transaction exemplifies Arlington’s ability to accelerate growth through deep expertise in regulated industries and to build businesses of strategic value.”
Justin Barnett, President of Tex-Tech Industries, said, “Arlington has been a true strategic partner and together we have positioned the Company for continued success. It has been personally rewarding growing the Company’s top line at a double-digit rate over the last four years by being at the forefront of innovating advanced technical materials like our cutting-edge Thermal Protection Systems for space rocket insulation. Michelin shares our R&D-focused philosophy and will help us further cement our industry leading technical leadership.”
Gordon Auduong, a Managing Director at Arlington, added, “Tex-Tech’s focus on innovation and manufacturing excellence, coupled with an unparalleled commitment to customer success through its differentiated development and manufacturing capabilities, have enabled its transformation into the unique business that exists today. Additionally, Arlington is excited to continue its partnership with Scott and the FMI team as we continue to build FMI and support our nation as we undergo modernization of strategically important defense platforms.”
Scott Burkhart, Chief Executive Officer of FMI, said, “I look forward to building upon Tex-Tech’s success and carrying its momentum forward as we build FMI into the leading provider of innovative composite materials for our demanding defense, space, and aerospace customers.”
Closing of the transaction is expected in 1H 2026 and is subject to customary regulatory approvals and closing conditions.
William Blair and Harris Williams are serving as financial advisors to Tex-Tech Industries, and Sheppard Mullin Richter & Hampton LLP and Morrison Foerster LLP are serving as legal advisors to Tex-Tech and Arlington. Gibson, Dunn & Crutcher LLP and DLA Piper LLP are serving as legal advisors to Michelin.
Tex-Tech Industries, Inc.
Tex-Tech Industries is a global supplier of materials science-based solutions for demanding end use markets where performance and reliability are counted upon. With global headquarters located in Kernersville, North Carolina (USA) and manufacturing, R&D and sales sites located throughout North America and Europe, Tex-Tech is able to service our partners across the globe in key markets such as aerospace, defense, medical, and industrial. www.textechindustries.com
Arlington Capital Partners
Arlington Capital Partners is a Washington, D.C.-area private investment firm specializing in government-regulated industries. Focused on the aerospace and defense, government services and technology, and healthcare sectors, the Firm partners with founders and entrepreneurs to build platforms of strategic importance to national priorities. Operating in markets with high barriers to entry, Arlington looks to partner with organizations within these industries that save lives, improve effectiveness, and reduce costs. Since inception in 1999, Arlington has invested in approximately 200 companies, raised over $14 billion in committed capital, and is currently investing out of its $6.0 billion Fund VII.
WASHINGTON, D.C. — December 19, 2025 — National Council of Textile Organization (NCTO) President and CEO Kim Glas participated in a panel discussion hosted by The Capitol Forum at the National Press Club last week, hailing the closure of the dangerous de minimis loophole, which staunched the flood of 1.4 billion uninspected low-value imports into the U.S. market.
NCTO President and CEO Kim Glas
She highlighted how ending de minimis for commercial shipments globally has helped level the playing field for U.S. manufacturers, boost the safety of American consumers, and curb the drug epidemic.
Glas was joined on the panel by representatives from the Consumer Federation of America, who highlighted the consumer safety dangers associated with de minimis; an international trade attorney from Brussels who outlined the significant problems the European Union is facing with de minimis; the Express Shippers Association; and an analyst on consumer prices with the American Action Forum.
An “Avalanche” of Uninspected Low-Value Packages
NCTO and the entire textile industry have been strong advocates for ending de minimis for the past eight years, Glas said, kicking off the panel discussion.
The domestic textile industry, which employs 471,000 workers across the United States, is an innovative and resilient industry and the second largest exporter of textiles in the world. But this vibrant industry was severely harmed be the loophole, which allowed 1.4 billion packages into the U.S. marketplace virtually uninspected and duty free, until it was closed by the Trump administration in August and also codified into law by Congress.
Several years ago, reporters did not know what de minimis even was when Glas started speaking to them about it. But as time went on, more news coverage spread as strong advocacy on both sides of Capitol Hill, from House Ways and Means Chairman Jason Smith (R-MO) to Rep. Earl Blumenauer, a Democrat from Oregon, began pushing for reforms.
“De minimis became an avalanche of duty-free trade to the United State marketplace that we could not control. It was a wildfire out of control. You cannot inspect 1.4 billion packages coming in a year into the U.S. marketplace,” Glas said.
In addition, half of the packages were estimated to be textile and apparel products.
“When did Congress sign a free trade agreement with the world? As long as you send it in a small package you get duty free access?” Glas asked.
She noted the loophole undermined all trade regimes—from Biden to the Trump administration. The U.S. textile industry joined forces with fentanyl families, law enforcement groups, fentanyl victim families and unions to form the Coalition to Close the De Minimis Loophole to launch an advocacy and education campaign in Washington—and Congress and the administration took note.
In August, President Trump issued an executive order ending de minimis for all commercial shipments and Congress passed bipartisan legislation that codified the ban on de minimis beginning in July 2027.
However, uncertainty around newly imposed reciprocal tariffs on imports from most countries, coupled with a rise in trade fraud and the continuing tariff evasion and illegal trade practices implemented by China and other Asian countries has countered the benefits of the de minimis loophole closure.
Europe Faces the Same De Minimis Problem—on a Larger Scale
Yves Melin, an international trade and customs lawyer based in Brussels, described a European Union de minimis system that mirrors — and exceeds — the U.S. problem. Europe processes an estimated 4 billion to 5 billion low-value parcels annually, with a threshold of €150. Melin warned that cross-border e-commerce has replaced containerized trade with billions of individualized parcels, rendering traditional customs enforcement nearly impossible.
“We are in deeper trouble than you [the U.S.] were,” Melin said. “This is largely fed by Chinese manufacturers and possibly by China’s government. There is an intentionality behind it.”
He emphasized that Chinese sellers now bypass established distributors and sell directly to consumers, eroding accountability. In one example, he pointed to French customs inspections of Shein and Temu parcels, which found roughly 80 percent noncompliance with EU regulations. The result is widespread consumer safety risk, unfair competition, and downstream environmental damage — particularly in textiles, where low-quality garments overwhelm recycling systems.
The EU is now moving toward reform, Melin said.
The EU said last week it plans to impose a 3 euro duty on low-value e-commerce parcels beginning in July 2026, which will remain in place “until a permanent solution is found to eliminate the de minimis duties exemption for online purchases below 150 euros, the EU’s Council of its 27 governments said in a statement,” according to a Reuters article.
Glas noted during the discussion that Europe’s experience closely tracks the U.S. trajectory and that countries around the world — including Brazil and South Africa — are moving in the same direction for the same reasons: trade fairness, consumer safety, and enforcement integrity.
She stressed that no serious policymaker in Europe or around the world is considering expanding de minimis; the debate is about how quickly and completely to dismantle it.
De Minimis Exposes Consumer Product Safety Dangers
Courtney Griffin, director of consumer product safety at the Consumer Federation ofAmerica,underscored that de minimis quietly created “a shadow channel” exposing American consumers to unsafe, noncompliant, and illegal products with little oversight.
“De minimis was an avenue that bad actors were using to take advantage of and to sell product [directly to consumers]” she said. “Not only did this create an unfair situation that Kim identified but it also created an unsafe situation where consumers’ health and safety were undermined.”
She stressed that while closing the loophole is essential, it is not sufficient on its own.
Griffin warned that enforcement resources remain dangerously thin, citing the small number of Consumer Product Safety Commission staff stationed at ports of entry. She also emphasized the need for better data systems and stronger accountability for online marketplaces, which currently face limited liability for the products they facilitate.
Express Shippers Reiterate Same Arguments Despite Losing De Minimis Battle
Mike Mullin, executive director of the Express Association of America, framed the end of de minimis primarily as a logistical and administrative burden on carriers like FedEx, DHL, and UPS. He described increased paperwork, shipment delays, staffing costs, and consumer “sticker shock” from newly applied tariffs and fees.
However, Mullin’s argument leaned heavily on operational inconvenience. While he emphasized that low-value shipments accounted for only about 2 percent of total import value, he acknowledged they represented the overwhelming majority of shipment volume — precisely the enforcement challenge that led to the de minimis demise.
Contrary to Mullin’s assertions, U.S. Customs and Border Protection (CBP) released a report in 2024 titled “Buyer Beware: Bad Actors Exploit De Minimis Shipments.”
CBP estimated in the report that de minimis shipments accounted for 92% of all cargo entering the U.S. and that figure “is growing in epic proportions.”
“Bad actors are exploiting this explosion in volume to traffic counterfeits, dangerous narcotics, and other illicit goods including precursor chemicals and materials such as pill presses and die molds used to manufacture fentanyl and other synthetic drugs that are killing Americans,” the CBP report said.
Mullin also stressed the express industry’s investments in screening technology and cooperation with law enforcement yet conceded that the scale of de minimis shipments overwhelmed even sophisticated systems. His focus on value percentages and border “complexity” sidestepped the reality that enforcement failure was baked into a system that largely waived scrutiny altogether.
In response during the panel discussion, Glas said, “The reality is we need to give Customs a shot at trying to enforce this. We have good officers in the field. We have good express carriers in the field working hard to try stop the bad stuff coming in—92 percent of cargo shipments coming into the United States were de minimis packages,” she said.
“We were just one industry impacted. We are committed to helping the administration get the tools. Customs and Border Protection (CBP) needs more tools in the toolbox, especially now with the variety of trade regimes and reciprocity tariffs to ensure these illicit products aren’t coming in,” Glas added.
The Price Argument Revisited — and Questioned
Jacob Jensen, trade policy analyst at the American Action Forum,argued that ending de minimis effectively raises consumer costs through tariffs, processing fees, and compliance expenses, estimating an annual consumer impact of $8 billion–$12 billion. He characterized the change as a regressive burden falling disproportionately on low-income households.
Yet Jensen’s framing treated ultra-cheap imports as a baseline entitlement rather than an anomaly created by regulatory neglect. His estimates assumed that pre-de minimis prices were sustainable or legitimate, ignoring decades of artificially suppressed costs enabled by duty-free access, weak enforcement, and externalized labor and safety risks.
Glas countered that apparel prices remain historically low and that the industry has been deflationary for decades. She challenged the idea that marginal price increases outweigh the long-term cost of hollowed-out communities, lost middle-class employment, and unsafe products.
Accountability Is the Common Thread
Panelists broadly agreed that online marketplace accountability remains unresolved. Both Griffin and Melin stressed that without holding platforms responsible for the products they sell, enforcement gaps will persist regardless of tariff structure.
Outlook
While legal uncertainty remains — including Supreme Court scrutiny of executive authority — Congress has already acted to permanently end de minimis by July 1, 2027.
Glas closed by emphasizing that the loophole was never intended to facilitate mass commercial trade and that requiring basic information, compliance, and tariffs is fundamental governance.
As she noted, the question is how quickly governments can rebuild systems that prioritize information, safety, fairness, and accountability over convenience.
“We have the most sophisticated logistics companies up here,” she said, adding that since CBP has the inability to enforce 1.4 billion packages, it was imperative to close the de minimis loophole and start routing packages through traditional customs procedures.
“So, yes, we are going to require more information. Yes, you are going to have to pay a tariff. Yes, these products are abundantly cheap online, and you can still access them,” Glas said. “I strongly reject all the boogeyman arguments about the end of de minimis. I’m grateful to this administration and the U.S. Congress that decided this nightmare needed to end.”
NAGOYA, Japan — January 1, 2026 — D.O.N Co. Ltd. (Headquarters: Nagoya, Japan) the company behind the inner-down specialist brand TAION is proud to announce VITAL BELT the world’s first abdominal belt-type sensing wearable device. VITAL BELT represents a new form of “healthcare you wear as a belt” combining concepts cultivated through years of apparel development with cutting-edge millimeter-wave sensing technology. It introduces an entirely new approach to daily health monitoring that is both non-invasive and effortless.
Background of Development | Addressing the Challenges of a Super-Aging Society For the past decade TAION has grown as a brand centered on inner down delivering new value to clothing through innovations such as down wear equipped with heating modules. As we explored our next generation of gadgets we became increasingly aware of pressing social challenges including the growing medical burden the advancement of a super-aging society and the rising awareness of self-care. Against this backdrop we strongly recognized the need for a wearable device that enables people to monitor their physical condition on a daily basis with a focus on preventive care (pre-disease management) and everyday safety management. Focusing on the waist area as a location where subtle changes in physical condition can be easily detected this led us to the development of a belt-type wearable device.
Sensing at the Abdomen | A Belt-Type Device VITAL BELT is the world’s first device to perform millimeter-wave sensing at the belt position. Until now there has been no concept of using millimeter waves for close-range irradiation to sense human body movement. Unlike conventional smartwatches or ring-type devices VITAL BELT does not require direct contact with the skin. It enables the measurement of respiration pulse and body movement even when worn over clothing. This new approach enables the visualization of physiological data that has traditionally been difficult to capture. Multiple patents (IP) have been obtained for vital sensor attachment methods at the belt position.
New Possibilities in Health Analysis | Creating a Powerful Sensing Market By cross-analyzing data from wrist- or finger-based wearables with breathing and motion data captured by VITAL BELT there is potential to achieve significantly more precise health management. The device aims to detect subtle changes such as breathing patterns early signs of stress and postural imbalance. Looking ahead the abdominal sensing position opens possibilities for future applications including： Observation related to fetal activity and gut conditions Cellular activation through frequency-based approaches that raise deep body temperature Conditioning applications based on the brain–gut connection. These developments could extend VITAL BELT into both medical and wellness fields.
User Interface VITAL BELT features an intuitive user interface and a naturally fitting attachment system utilizing neodymium magnets. The structure separates the buckle unit (sensing device) from the belt section (base plate). The buckle can be removed independently for charging while the belt itself can continue to be worn as a regular belt. In addition the belt section can be customized by changing its design material and color allowing users to enjoy it.
Application Upon accessing the app users complete authentication and calibration to enable data collection optimized for each individual. In addition to health management using breathing pulse and sleep data accumulated data can be used to provide recommendations and behavioral insights.
Examples of breathing-based applications include:
Health & wellness: yoga breathing beauty breathing meditation breathing
Business & productivity: focus-enhancing breathing stress-reduction breathing emotion analysis
The system can also detect environmental conditions and body movement enabling real-time safety support for example detecting stair use by elderly users and issuing alerts when necessary.
Track Record In Japan we unveiled principle prototype samples and related solutions receiving inquiries from a wide range of companies. While challenges remain—such as communication methods and noise processing—development is currently underway to address these issues. Moving forward we plan to enhance accuracy and usability through POC* and user testing followed by test sales for OEM partners. For corporate clients we are also developing applications that enable employee health monitoring through centralized management systems.
Toward the Future VITAL BELT has the potential to become a next-generation wearable device that defines an entirely new category. By fusing apparel and technology we aim to realize a future in which clothing itself watches over the body. like an accessory. VITAL BELT seamlessly merges wearable technology and fashion.
Note: As of December 2025, based on our internal research, this is the world’s first product of its kind. We have confirmed that there are no prior patent filings or product launches in the category of “belt-type sensing devices,” and we hold multiple global patents in this field.
ARLINGTON, Va. — January 2, 2026 — CES® 2026, the world’s most powerful tech event, returns to Las Vegas, January 6-9, bringing together global companies, innovative startups, industry executives, global media, and government leaders to experience the next-generation of tech that will solve global challenges.
“CES 2026 is where innovators show up – to connect, forge partnerships, and do business on a global scale,” said Gary Shapiro, Executive Chair and CEO, Consumer Technology Association (CTA)®, owner and producer of CES. “All signs point to a phenomenal CES with thousands of exhibitors, a record 3600+ Innovation Award submissions, and innovation across 13 venues and 2.6M net square feet. This is an exciting time for innovation and CES 2026 will have the latest tech in AI, robotics, digital health, mobility, enterprise, energy, immersive entertainment, accessibility, and more.”
Innovators Show Up to Experience CES 2026
CES Accessibility Stage, powered by Verizon Accessibility – Making its debut at the Venetian during CES 2026, the stage will feature three days of content highlighting accessible tech like smart glasses, robotics, and voice-activated home assistants.
CES Creator Space – Now open to all CES attendees in the LVCC Central Hall to learn more about the creator economy.
CES Foundry – Located at Fontainebleau Las Vegas, CES Foundry is a new destination uniting innovators, entrepreneurs, investors, government officials, and media to explore how AI and quantum technologies are defining the next era of innovation.
CES Resources
CES App – Plan for and navigate CES 2026 with the official show app. Search “CES App” in your app store. This year’s app features a new AI chatbot, transportation updates, translations for select sessions, and “Attendee Connect” to share contact information with one another via a secure QR code.
CES Tech Talk – Download and listen for the top trends expected at CES 2026.
Top Trends
AI: Expect more AI agents, digital twins, and AI on devices to enhance productivity, customer experiences, and medical advancements.
Digital Health: From AI-driven precision medicine to the rise of wearables and telehealth, CES will convene the entire health ecosystem to drive the next wave of digital health breakthroughs.
Energy: With the growth of high-power demand technologies like AI, quantum, and cloud, we need to create more energy. CES will showcase solar, wind power, nuclear, and other alternatives.
Exhibitor Examples: 3M, Clarios, ENEOS Corporation, Flint Paper Battery, Hitachi, Jackery Inc., Korea Electric Power Corporation (KEPCO), Korea Hydro & Nuclear Power (KHNP), Panasonic, WePower Technologies
Enterprise: Enterprise tech will transform the way businesses enhance productivity, ensure safety, and secure their systems.
Mobility: CES will showcase mobility across air, land, and sea with the latest innovation across the agricultural, auto, construction, industrial, and marine tech sectors. Innovation will focus on automation, connectivity, and energy.
Exhibitor Examples: AUMOVIO Systems, Inc., BMW of North America, LLC, Bosch, Brunswick Corporation, Caterpillar Inc., Doosan, Hyundai Motor Company, John Deere, Kubota North America, Oshkosh Corporation, Sony Honda Mobility, Inc., Tensor Auto Inc., Valeo, Waymo, Zoox
Robotics: Robotics improve efficiency, safety, and accessibility across industries, making homes smarter, enhancing agricultural production, and improving safety and operations in factories.
AMD Chair and CEO Dr. Lisa Su, 6:30 PM, The Venetian
Tuesday, January 6
CTA Executive Chair and CEO Gary Shapiro and CTA President Kinsey Fabrizio, 8:30 AM, The Venetian
Siemens President and CEO Dr. Roland Busch, 8:30 AM, The Venetian
Guest speakers include:
Commonwealth Fusion Systems (CFS)’s Bob Mumgaard
Microsoft’s Jay Parikh
NVIDIA’s Jensen Huang
PepsiCo’s Athina Kanioura
Havas CEO and Chairman and Vivendi Chairman Yannick Bolloré, 11:00 AM, ARIA
All-In Interview Featuring McKinsey and General Catalyst, 2:00 PM, The Venetian
Live taping of All-In featuring Bob Sternfels, Global Managing Partner, McKinsey & Company; Hemant Taneja, CEO, General Catalyst; and Jason Calacanis, Entrepreneur, Angel Investor, and Co-Host of the All-In podcast
Lenovo Chairman and CEO Yuanqing Yang, 5:00 PM, Sphere
This keynote will have a different ticketing process and venue policies than other keynotes. For more information, visit CES.tech.
Guest speakers include:
AMD’s Dr. Lisa Su
FIFA’s Gianni Infantino
Intel’s CEO Lip-Bu Tan
NVIDIA’s Jensen Huang
Qualcomm’s Cristiano Amon
and more.
Wednesday, January 7
Caterpillar CEO Joe Creed, 9:00 AM, The Venetian
ŌURA CEO Tom Hale, Leaders in Technology Dinner *invite only
“CES 2026 is where the world’s boldest innovators come together to shape what’s next,” said Fabrizio. “From visionary keynotes to breakthrough product debuts, CES brings together the biggest names in technology, entertainment, and global business. It’s where bold ideas gain momentum and the future of tech is discussed at more than 400 conference sessions featuring more than 1300 speakers.”
Great Minds Sessions
Speakers featured in the Great Minds series include C-Suite executives, philanthropists, influencers, government leaders, entrepreneurs, venture capitalists, and more:
Always On: How Continuous Health Data is Transforming Care
January 7, 10:00 AM, LVCC, West Hall W232
Featuring Ami Bhatt, Chief Innovation Officer, American College of Cardiology; Jake Leach, President and CEO, Dexcom; Lucienne Ide, CEO, Rimidi; and Tom Hale, CEO, ŌURA
Redefining the Business of Sport
January 7, 11:00 AM, LVCC, West Hall W232
Featuring Casey Wasserman, Chairman & CEO and President & Chairperson, Wasserman and LA28 and Michael Kassan
Founder & CEO, 3C Ventures
The Future of Computing
January 7, 2:00 PM, LVCC, West Hall W232
Featuring Deepa Subramaniam, Vice President, Creative Cloud, Adobe; Kedar Kondap, SVP & GM, Compute and Gaming, Qualcomm; and Samuel Chang, SVP & Division President of Consumer PC Solutions, HP Inc.
Back to the Future: Tech’s Nostalgic Revolution
January 7, 3:00 PM, LVCC, West Hall W232
Featuring Alexis Ohanian, Founder of Seven Seven Six & Co-Founder and Former Executive Chairman of Reddit and Palmer Luckey, Founder, Anduril
Driving Tomorrow: Democratizing the Future of Software Defined Vehicle Technology
January 7, 4:00 PM, LVCC, West Hall W232
Featuring Doug Field, Chief EVs, Digital and Design Officer, Ford Motor Company
Game Changers: Transforming the Live Sports Experience
January 8, 10:00 AM, LVCC, West Hall W232
Featuring George Hanna, Chief Technology and Digital Officer, LA Clippers; Kat Harwood, US Sports Leader, Deloitte; and Matt Fleckenstein, Chief Product & Technology Officer, Genius Sports
The New Blueprint: Spatial Computing Meets Home Improvement
January 8, 2:00 PM, LVCC West Hall W232
Featuring Seemantini Godbole, EVP, CIDO, Lowe’s
Bridging the Opportunity Gap for Underserved Populations
January 8, 3:00 PM, LVCC West Hall W232
Featuring Barron Segar, President and CEO, World Food Program USA; Carl Blake, Chief Executive Officer, Paralyzed Veterans of America; Claire Casey, President, AARP Foundation; Gretchen Littlefield, Chief Executive Officer, Moore; and Jacquelyn Puente, Chairwoman, United States Hispanic Chamber of Commerce
Top Conference Programming
CES 2026 will cover the what’s next in tech and debut new conference tracks focused on manufacturing, wearables and women’s health.
Accessibility
Voices of Accessibility: A C-Suite View on Progress & Innovation
January 6, 1:00 PM, Venetian, Lando 4302
New Era of Access: Enhancing Assistive Tech with AI
January 6, 2:00 PM, Venetian, Lando 4302
Real Users, Real Impact: Designing for Accessibility
January 6, 3:00 PM, Venetian, Lando 4302
AI and Robotics
Future-Ready: Shaping the Workforce in the AI Era
January 5, 1:00 PM, LVCC, West Hall W219
All In on AI: Betting on the Power of Next-GenChips
January 5, 4:00 PM, LVCC, West Hall W219
The Edge Awakens: Why Agentic AI Will Reshape Everything
January 6, 11:00 AM, LVCC, West Hall W218
Not Quite Human: How Humanoids Are Changing Work and Home Life
January 7, 10:00 AM, LVCC, West Hall W219
CES Creator Stage
The CES Creator Space will feature three days of programming designed to help creators hone their craft. The expanded Creator Stage is open to all CES attendees.
State of the Creator Economy
January 6, 10:30 AM, LVCC, Central Hall, CES Creator Stage
Partnering with Purpose: Building Long-Term Brand Relationships
January 6, 2:15 PM, LVCC, Central Hall, CES Creator Stage
What Metrics for Success Will Look Like in 2026
January 7, 2:15 PM, LVCC, Central Hall, CES Creator Stage
CES Foundry
The new CES Foundry will deliver compelling AI and quantum content through panels, fireside chats and thought leader conversations, including:
From Concept to Reality: Creatives Using AI to Bring Big Ideas to Life
January 7, 9:30 AM, Fontainebleau, Azure Ballroom, Breakthrough Stage
America’s AI Future: A Fireside Chat with Michael Kratsios, the President’s Science and Technology Advisor, with Fabrizio
January 7, 11:30 AM, Fontainebleau, Azure Ballroom, Breakthrough Stage
Fireside Chat – AI at Scale and the World’s Largest Retailer
January 7, 1:30 PM, Fontainebleau, Azure Ballroom, Breakthrough Stage
Real Returns on AI: Finding the Next Big Winners
January 8, 9:30 AM, Fontainebleau, Azure Ballroom, Breakthrough Stage
C Space®
Beyond the Algorithm: Gen Z’s New Digital Habits
January 5, 2:00 PM, ARIA, Mariposa 5
Seamless Ecosystems, Personalized Experiences: The Next Era of Retail
January 6, 10:00 AM, ARIA, Mariposa 5
More Than a Game: Sports Venues as Culture Hubs
January 6, 3:00 PM, ARIA, Joshua 8
Digital Health
Real Users, Real Impact: Designing For Accessibility
January 6, 3:00 PM, Venetian, Lando 4302
Agentic AI in Health Care: Beyond the Hype
January 7, 2:00 PM, Venetian, Marcello 4404
Next-Gen Diagnostics: A New Era of Early Detection
January 8, 9:00 AM, Venetian, Marcello 4404
Quantum Leap: Computing’s Next Frontier in Health
January 8, 4:00 PM , Marcello 4404
Energy
Smart Energy: Consumer Demand & ROI
January 6, 10:00 AM, Lando 4304
Investing in the Energy Transition
January 8, 9:00 AM, LVCC, North Hall, N257
Smarter Grids: Powering Sustainable, Reliable Data Centers
January 8, 10:00 AM, LVCC, North Hall, N257
Power Shift: The Future of Energy
January 8, 11:00 AM, LVCC, North Hall, N257
Enterprise
Supercharge Your Business with Agentic AI: Real Results, Real Impact
January 5, 2-2:40PM, LVCC, West Hall, W219
Beyond the Buzz: Smarter AI Tools for Smarter Enterprises
January 5, 3-3:40PM, LVCC, West Hall, W219
Connected Communities: How AI Powers the Next Era of Innovation January 6, 1-1:40PM, LVCC, North Hall, N261
The XR Edge: Driving Business Innovation with Spatial Computing
January 8, 11:00 AM, LVCC, West Hall, W218
Innovation Policy Summit
CES gathers policymakers from across the world to discuss domestic and global tech policy issues including privacy, trade, competition, and more. More than 200 international, federal, state, and local government officials and staff participate in the Leaders in Technology Program and attend the Innovation Policy Summit (IPS) at CES.
Innovation without Borders: The Global Policy Frontier
January 6, 11:00 AM, LVCC, N258
Innovating Health: Policy for a Tech-Driven Future
January 6, 2:20 PM LVCC, N258
Competing in a Trade-Disputed World
January 7, 9:00 AM, LVCC, N258
Road Rules: Governing the Global Shift to Autonomy
January 7, 3:40 PM, LVCC, N258
Fireside Chats with Federal Trade Commission Chair Andrew Ferguson and Federal Communications Commission Chair Brendan Carr
January 8, 11:00 AM, LVCC, W232
Senate Perspectives on Emerging Tech Policy
January 9, 11:00 AM, LVCC, W232
Featuring U.S. Senators Amy Klobuchar (MN); Ben Ray Luján (NM), Gary C. Peters (MI), and Jacky Rosen (NV)
Manufacturing
Charting the Future: Manufacturing, Innovation, and America’s Competitive Edge
January 7, 3:15 PM, LVCC, North, N261
Building Skills & Talent for the Next Era of Manufacturing
January 7, 3:35 PM, LVCC, North, N261
Made Here: Rethinking Manufacturing in a Shifting Global Landscape
January 7, 4:00 PM, LVCC, North, N261
Mobility
Automotive AI – Unleashing New Possibilities & Experiences
January 6, 9:00 AM, LVCC, West Hall, W219
Micromobility: Making the Last Mile Accessible
January 6, 3:00 PM, LVCC, North Hall, N261
The Road Ahead: How Connected Cars are Shaping the Future
January 7, 1:00 PM, LVCC, West Hall, W219
Rise of the AgBot: Drones, Self-Driving Tractors and Farming Robots
January 8, 1:00 PM, LVCC, West Hall, W218
Plus, the Mobility Stage, presented by Bosch programming
Research Summit
Learn about consumer and enterprise trends across verticals.
Transforming Industries with Physical AI, presented by McKinsey
January 5, 11:00 AM, LVCC, W232
Blueprint of Innovation: The Tech Shaping Tomorrow, presented by Invesco QQQ and Nasdaq
January 5, 2:00 PM, LVCC, W232
Is the Car of the Future Just Another Consumer Device?, presented by Omdia
January 6, 2:00 PM, LVCC, W232
Strategies for Driving Demand in the Consumer Technology Market, presented by Circana
January 6, 3:00 PM, LVCC, W232
Wearables
AI-Powered Wearables
January 8, 9:00 AM, Venetian, Lando 4302
Fashion Meets Function: The Next Generation of Smart Apparel
January 8, 10:00 AM, Venetian, Lando 4302
Body-Based Tech
January 8, 11:00 AM, Venetian, Lando 4302
Women’s Health
Innovating for Women’s Health: Closing Gaps to unlock $100B Market, presented by BCG
January 6, 9:00 AM, Venetian, Marcello 4404
Designing Health Tech for Women: Ending Default Male AI, presented by K’ept Health
January 6, 9:55 AM, Venetian, Marcello 4404
The GLP-1 Effect: Women Shaping the Future of Health, presented by PwC
January 6, 10:50 AM, Venetian, Marcello 4404
Celebrity and Guest Appearances Celebrities, sports legends, musicians, film, and television stars will be on the CES stage and throughout the show discussing and experiencing the latest innovations.
Experience the CES Show Floor
See the latest tech innovation from global brands, including first-time exhibitors such as DataMatica, Fanatics, Gruner AG, IKEA, JATCO, Marriott International, Mentagraph, MICROIP, Mobilus, Truly, and Virinco.
LVCC Central Hall
Showcasing the latest innovation around the home and immersive entertainment – the central hub for customized, in-home entertainment, and living. Central Hall is also home of the CES Creator Stage and America250 airstream will be in the Central Hall Grand Lobby.
North Hall is where enterprise meets innovation. Experience how tech works together to support our daily lives now and in the future across smart communities, IoT, AI, robotics, and more.
South Hall is where accessories, Design & Source and cutting-edge products come to life to improve how we live and work.
Exhibitor Examples: BuzzTV, Denvix, KraftGeek, Nomatic, Radioshack USA LLC
LVCC West Hall
Experience the entire ecosystem of mobility at CES — from passenger and self-driving cars to construction, agriculture, boating, and advanced air travel.
Exhibitor Examples: Amazon for Automotive, Brunswick Corporation, Caterpillar Inc., Doosan, Hyundai Motor Company, Hyundai Mobis, John Deere, Kubota North America, Sumitomo Rubber Industries, Ltd., Qualcomm, Verge Next, Waymo
C Space® at ARIA, Cosmopolitan, and Vdara
Where the world’s leading brands, advertisers, media platforms, and content creators meet to forge deals, explore trends, and unveil the latest technologies reshaping the industry.
Exhibitor Examples: Amazon Prime Video, Criteo, Disney Advertising Sales LLC, Genius Sports, Fanatics, Havas, Marriott International, Meta, Netflix, NBCUniversal Media, LLC, Reddit Inc., Roku, Inc., SiriusXM, Snap Inc., The Trade Desk, Inc., Uber, X
The Venetian
The home of smart living, including digital health, smart home, energy management, security, education, lifestyle, and food tech.
The Venetian is also home to the CES Innovation Awards Showcase – explore select winning products in person. The next round of embargo award honorees will be posted on January 4.
Eureka Park at The Venetian
The startup hub of CES, home to startups from around the globe.
Exhibitor Examples: Global pavilions and emerging companies from European Innovation Council (EIC), France, Hong Kong, Italy, Korea, Japan, Netherlands, Switzerland, Taiwan, Ukraine, the U.S., and others from around the world. Dephy, LV Energy, myolab.ai, omi, SunLED Life Science B.V.
Fontainebleau
CES Foundry is the new destination for global innovators to come together and solve with AI and quantum. Taking place January 7-8, CES Foundry will feature innovators, entrepreneurs, investors, media and industry leaders for live demos, networking, and immersive content. The CES Foundry programming will culminate in a special segment exploring the future of intelligent entertainment, followed by the CES Foundry Celebration Event, presented by IBM, JobsOhio, Vector, and Washington D.C., for high-impact networking. It is open to all with a CES badge on Thursday, Jan. 8 at 4:30 PM.
Example Sponsored Sessions from: AMD, Bosch, Brunswick Corporation, DEEPX, Deloitte Services LP, EY, HERE Technologies, Hitachi, NVIDIA Corporation, PwC, Vector
HOUSTON — December 19, 2025 — Ascend Performance Materials, a leading producer of high-performance and durable engineered materials for everyday essentials and new technologies, today announced the completion of its financial restructuring process and emergence from Chapter 11 bankruptcy protection. The Company’s Plan of Reorganization, confirmed by the U.S. Bankruptcy Court on December 9, 2025, is now effective.
Ascend achieved the objectives it set for this process, including reducing its total long-term debt by approximately $1.3 billion, securing access to a $350 million asset-based credit facility, strengthening its liquidity position through more than $600 million of new capital provided by its new shareholders, and materially lowering its debt service costs, which will enable Ascend to reinvest in reliability, efficiency, and long-term growth.
“Today marks the final milestone in Ascend’s restructuring process, and we are thrilled to be emerging from Chapter 11 with significantly less debt and a much stronger capital structure,” said Patrick Schumacher, Ascend’s newly appointed CEO. “Thanks to the incredible efforts of our people and the support of our new ownership group, we have strengthened the business and positioned Ascend for future growth. As we move forward, we will increase our investments in reliability and advance our leadership position in nylon resins and engineering thermoplastics.”
Ascend’s emergence from Chapter 11 marks a pivotal moment in its ongoing transformation. Ascend remains steadfast in its mission to deliver high-performance materials that improve the quality of life today and inspire a better tomorrow.
NEW YORK — December 22, 2025 — Private investment group, Middle West Partners (MWP) announces their acquisition of Paul Stuart, the iconic American luxury menswear brand. MWP partnered with premier apparel manufacturer, Peerless Clothing Inc. to acquire Paul Stuart from Mitsui & Co., Ltd. Mitsui & Co. has been a committed partner to Paul Stuart for more than 50 years, significantly shaping the brand’s enduring legacy and commitment to craftsmanship.
The acquisition marks an important milestone for Paul Stuart, solidifying its future and continued growth. Kevin Kelleher, Managing Partner of Middle West Partners shares what drew him to the brand, “The Paul Stuart name continues to resonate with a discerning client 87 years later, and we still see so much more potential for this luxury heritage brand. Our goal is to protect its unmatched quality and amplify its unique attributes on a global scale.”
In this next chapter, John Hutchison, former chief executive officer of Bonobos, has been appointed incoming CEO of Paul Stuart. Hutchison brings a combination of creative vision and a deep understanding of how to build a modern, resonant menswear brand. His leadership and global perspective will lend a fresh eye toward the future.
Kelleher’s co-founding partner at MWP, Michael Hamp, is a member of the Ford Family and whose family co-owns the Detroit Lions. He shares what makes this acquisition so personal to him. “Paul Stuart has been one of my family’s favorite brands for more than 25 years. It has a look that’s distinctly its own—when you walk down the street, you know it’s Paul Stuart. My father and now my brothers and I have worn Paul Stuart for as long as I can remember. It is both a privilege and honor to take on the responsibility of stewarding this brand.”
With the acquisition complete, Middle West Partners and Peerless Clothing are jointly focused on strengthening core brand identity, unlocking international growth, and investing in product design that reminds us why Paul Stuart was, and is, an American icon.
Earlier this year, MWP announced its acquisition of high jewelry house, David Webb, another iconic American heritage brand.
Middle West Partners was advised on the transaction by David G. Hoffman, Legal Counsel was provided by Hinckley Allen, and valuation advisory was provided by Gordon Brothers.
For more information, please contact Heather Zachary at heather@hz-consulting.com and visit www.paulstuart.com to view the full collection.
Paul Stuart
Founded in 1938 by Ralph Ostrove and named for his son, Paul Stuart Ostrove, Paul Stuart embodies timeless elegance and a steadfast commitment to craftsmanship. The brand has remained anchored at its iconic flagship boutique on the corner of Madison Avenue and 45th Street, where it has long dressed some of the world’s most influential male style icons. Serving generations of discerning customers, Paul Stuart continues to design refined collections that define modern American luxury. Paul Stuart operates four boutiques across the US in New York City, Southampton, Chicago and Washington, D.C. https://www.paulstuart.com.
NEW YORK — December 24, 2025 — Crown Brands Group (“Crown”), a newly formed brand management firm, today announced the acquisition of Hanky Panky, the 48-year-old iconic intimate apparel brand known for pioneering the World’s Most Comfortable Thong®.
Crown has acquired Hanky Panky in partnership with Rafar Group (“Rafar”), the parent company of Gelmart International. Under the partnership, Rafar Group will serve as the core operating partner, leveraging over 70 years of experience in the intimate apparel industry to oversee product design, development, e-commerce operations and distribution. The partners will collaborate on marketing strategy and execution, allowing Crown to focus on brand strategy and global licensing while utilizing Rafar’s best-in-class capabilities to drive operational and product excellence.
This transaction marks a significant milestone as Crown’s first acquisition, establishing the anchor asset for a new diversified portfolio of iconic consumer brands. Crown is purpose-built to acquire and elevate heritage brands, leveraging deep retail expertise and capital backing from G72 Holdings, the family office of Raymond Gindi, whose family co-founded the iconic Century 21 Stores.
“Hanky Panky is the definitive example of the type of brand we are building our platform around—one with authentic heritage, category leadership, and incredible customer loyalty,” said Raymond Dayan, CEO of Crown Brands Group. “As our inaugural acquisition, this deal sets the standard for our portfolio strategy. By combining Crown’s retail relationships and brand management focus with Rafar’s operational excellence, we are positioned to unlock significant growth for Hanky Panky while honoring the quality that millions of women trust.”
Hanky Panky has maintained a devoted following for nearly five decades, with one of its Signature Lace Thongs sold every 10 seconds globally. The brand is currently distributed through over 2,500 top-tier boutiques, major department stores, and e-commerce platforms.
“We are honored to partner with Crown Brands Group to carry forward the legacy of a brand that has defined comfort and quality for generations,” said Yossi Nasser, CEO of Rafar Group. “Rafar’s track record of building intimates brands like LIVELY demonstrates our ability to resonate with today’s consumer. We see tremendous opportunity to expand Hanky Panky’s reach and introduce the brand to new audiences while maintaining the exceptional comfort and quality the brand is known for.”
Hanky Panky founders Gale Epstein and Lida Orzeck will continue to play a pivotal role in shaping the brand’s future. Recognizing the importance of their creative vision, both founders will join Hanky Panky’s Board of Directors to ensure the brand’s signature aesthetic and commitment to quality remain intact.
“We built Hanky Panky on a foundation of comfort, quality, and female empowerment, and it was vital to find partners who respect that DNA,” said co-founders Gale Epstein and Lida Orzeck. “We trust Crown Brands Group and Rafar Group to steward this legacy. Their combined vision gives us great confidence that Hanky Panky will continue to thrive and innovate in this exciting next chapter.”
Wedbush Securities served as financial advisor and Morrison Cohen, and Sills Cummis & Gross acted as legal advisors to Crown Brands Group and Rafar Group. Consensus served as financial advisor and Perkins Coie acted as legal advisor to Hanky Panky.
Hanky Panky
From its namesake handkerchief lingerie collection in 1977, Hanky Panky went on to revolutionize the intimates industry by creating the World’s Most Comfortable Thong®. The brand has maintained a devoted customer following and is sold through over 2,500 boutiques, major department stores, and e-commerce platforms worldwide. Known for its signature stretch lace and commitment to comfort, Hanky Panky remains a staple in women’s intimate apparel. For more information, visit hankypanky.com.
GASTONIA, N.C. — December 18, 2025 — Intrinsic Advanced Materials, makers of CiCLO® technology will debut a new generation of responsible-performance luxury home textiles at Heimtextil 2026, Jan. 13–16 in Frankfurt. The product development demonstrates how combining TENCEL™ fibers derived from certified or controlled-wood sources1 with CiCLO®’s biodegradable polyester innovation can elevate comfort and durability while supporting reduced environmental impact across hospitality and home categories.
Intrinsic Advanced Materials will debut responsible-performance luxury home textiles combining TENCEL™ fibers and CiCLO® biodegradable polyester at Heimtextil 2026 (Jan. 13–16, Frankfurt).
CiCLO® technology is a patented textile ingredient that enables polyester and nylon to biodegrade naturally, significantly reducing the time synthetic fibers remain in the environment. The technology is embedded in the fiber, thereby creating pathways that attract naturally occurring microorganisms, enabling the material to break down in environments where traditional synthetics persist.
Biodegradation occurs only after long-term exposure to moisture and microorganisms, so fabrics maintain durability and performance throughout their useful life. CiCLO® fibers and TENCEL™ fibers are then blended, creating a luxury textile solution with dedicated benefits and a reduced environmental impact on a fiber level2.
The collection combines naturally soft TENCEL™ fibers derived from certified or controlled wood sources1 with CiCLO® biodegradable technology that is certified safe for use in sustainable textiles by OEKO-TEX® ECO PASSPORT, and REACH compliant to meet EU standards for human and environmental safety, and is non-toxic to marine and plant life. The result is a collection designed for sheets, pillows, comforters, and other high-use home and hospitality applications where comfort, product life, and environmental considerations3 increasingly shape material choice.
“Hospitality brands make every effort to deliver the ultimate guest experience. This collaboration highlights the fusion of luxury, sustainability2, and performance materials,” said Cheryl Smyre, vice president of Intrinsic Advanced Materials. “By uniting CiCLO® technology with TENCEL™ fibers, we bring to life premium bedding solutions that elevate comfort, strengthen product value, and support long-term sustainability goals for manufacturers and brands alike3.”
“Advancing home textiles requires material solutions that meet today’s expectations for comfort while addressing tomorrow’s environmental challenges3,” said Walter Bridgham, Sr. Business Development Manager Home, North America, Lenzing AG. “Bringing together TENCEL™ fibers with CiCLO® technology allows manufacturers to design fabrics with elevated softness, strong performance, and responsible manufacturing2. It reflects a broader shift toward responsibly designed materials that support both commercial demands and long-term industry progress.”
As global hospitality buyers look for elevated comfort with reduced environmental impact, the collaboration introduces materials that unite performance, sensory appeal, and responsible design2 with key advantages:
Soft, smooth hand-feel that supports elevated comfort in premium bedding.
Maintains breathability, drape, andsmoothness to the touch, central to the guest experience.
Renewable and biodegradable4 fibers, offering a responsible upgrade across hospitality categories.
Commercial-grade durability, supporting consistent comfort and product life in hotel and high-use laundering settings.
Verified reduction of synthetic microplastic fiber persistence, lessening environmental impact that is rigorously tested for biodegradability by third-party labs using ASTM test methods5.
Easy adoption for mills, integrating as a drop-in approach that requires no equipment or process changes.
Traceable6, science-supported material choice, aligning with retailer and hospitality expectations for responsible product development.
These benefits position the collaboration as a strong example of the industry’s movement toward responsible luxury materials engineered for comfort, longevity, and reduced impact.
Heimtextil attendees can preview a range of constructions and product concepts developed through this collaboration and see how fiber-level innovation is shaping more responsible home textiles2,3 at the CiCLO Technology in Hall 4.0, Booth E28, and at Lenzing in Hall 4.0, Booth B11.
Intrinsic Advanced Materials
Intrinsic Advanced Materials, LLC (IAM) is a pioneering force in sustainable textile innovation and the company behind CiCLO® technology. This award-winning solution helps reduce the environmental impact of synthetic microfiber pollution. Founded in 2018, IAM is a joint venture between Intrinsic Textiles Group, LLC, a Silicon Valley innovation company, and Parkdale Advanced Materials, Inc., the performance fiber division of Parkdale Incorporated, the world’s largest manufacturer of spun yarns, headquartered in Gastonia, North Carolina.
Driven by a mission to combat microplastic pollution from textiles, IAM combines breakthrough science with deep industry expertise to deliver scalable, drop-in solutions for the global apparel and textile industry. CiCLO technology is produced in the USA and Asia. Synthetic fibers, yarns, and fabrics made with CiCLO technology are available worldwide, empowering brands and manufacturers to create high-performance products that are made to last, just not forever.
1 Adhering to the company’s commitment to environmental protection and resource preservation, Lenzing procures wood and pulp only from certified or controlled sustainable sources. In its Wood and Pulp Policy, Lenzing is committed to procuring wood and pulp exclusively from non-controversial sources.
2 TENCEL™ Lyocell and Modal fibers are made with at least 50 percent less carbon emissions and water consumption, compared to generic (unbranded) lyocell and modal. The results were calculated according to LCA standards (ISO 14040/44) and are made available via the Higg Materials Sustainability Index (MSI) v3.10 (April 2025).
3 To foster a sustainable global textile and nonwovens industry, Lenzing follows three strategic principles within the context of its “Naturally Positive” sustainability strategy, which focuses on greening the value chain, driving systemic change and advancing the circular economy through partnerships with key industry stakeholders, such as Textile Exchange, Cascale, Canopy, Together for Sustainability, Renewable Carbon Initiative, and UN Global Compact.
4 LENZING™ Lyocell and Modal standard fibers are certified by TÜV AUSTRIA as biodegradable in soil, freshwater and marine environment.
5 ASTM method testing of CiCLO Polyester vs. Conventional Polyester using third-party ASTM Testing Methods included: ASTM D6691 data show that CiCLO polyester biodegraded in seawater 94% compared to 5% for conventional polyester in 1,362 days. In wastewater sludge, ASTM D5210 data shows CiCLO polyester biodegraded* 90% compared to 0% for conventional polyester in 952 days. In soil, ASTM D5988 data shows CiCLO polyester biodegraded* 91% compared to 3% for conventional polyester in 1,170 days. In a biologically active landfill, ASTM D5511 data shows CiCLO polyester biodegraded* 91% compared to 6% for conventional polyester in 1,278 days.
*Achieving ≥ 90% in respirometry tests is considered full biodegradation. The remaining percentage can be attributed to biomass. Further analysis has been conducted to confirm that no microplastics are left behind. Data is summarized from studies conducted by third-party labs using ASTM Test Methods. Visit ciclotextiles.com for more information and detailed test data.
6 TENCEL™ Lyocell and Modal fibers are produced with a molecular marker. This special identification technology ensures the authenticity and traceability of TENCEL™ fibers even after processing into textile products.
WASHINGTON, D.C. — December 23, 2025 — The latest CapEx Finance Index (CFI), released today by the Equipment Leasing & Finance Association (ELFA), indicates the equipment leasing and finance sector is poised for a strong fourth quarter. Market volatility and a slowing economy have not affected equipment demand, which is heading into 2026 with significant momentum after the Fed decided to lower rates again at the December FOMC meeting. Financial conditions remain healthy, suggesting that the sector will not be materially impacted if borrowing costs stay near current levels next year.
Total new business volumes (NBV) among surveyed ELFA member companies was $10.3 billion on a seasonally adjusted basis, down slightly from the prior month.
Year-to-date NBV contracted by 0.9% relative to the same period in 2024.
Year-over-year, NBV dropped by 4.4% on a non-seasonally adjusted basis.
“Demand for equipment remained strong in November. New business volumes topped $10 billion for the fourth straight month,” said Leigh Lytle, President and CEO at ELFA. “We’re still on pace for one of our strongest years on record, and we expect that the Fed’s decision to lower the federal funds rate by 75 basis points in 2025 will bolster momentum for equipment demand next year. Even though policymakers may be done cutting for a while, the November financial data showed that delinquencies and losses remain relatively low, indicating that the industry is well-positioned for current financial conditions.”
Equipment demand tops $10 billion for fourth straight month. Total NBV grew by $10.3 billion in November. New activity declined by 2.1% from the previous month but remained above its trailing six-month average of $10.1 billion. The total new volume series tracks the amount of new activity that banks, independents, and captives added in a given month. Total new activity is on pace to reach $114.4 billion in 2025, slightly down from its all-time high in 2024 but still well above the average in the second half of the pre-pandemic expansion.
Small ticket volume growth tracks broader economic conditions and is an important barometer of aggregate demand for equipment. Small ticket deals grew by $3.3 billion, down from their 2025 high in the previous month.
Activity at all three institution types declined in November. New deal growth at banks edged down by 1.0% to $4.9 billion, while volumes at captives declined by 9.3% to $2.9 billion and new activity at independents declined by 12.9% to $1.9 billion.
The overall credit approval rate remains elevated. The industry-wide average edged up to 78.2% in November. It continues to hover around its decade high. The average small ticket approval rate ticked up from the prior month to 81.4%, down from its 2025 high but still well above its 2024 average of 75.4%. The rate at banks dipped to 79.4%. The rate at captives fell to 81.7%, while the rate at independents rose to 72.6%.
Delinquencies drop, while losses edged up. The overall delinquency rate dropped by 0.23 percentage points to 2.0%. The November decline offset the 0.24 percentage point increase in the previous month. The overall rate continues to oscillate in a narrow band between 1.9% and 2.2%. The average delinquency rate at banks and independents fell sharply, while the rate at captives rose.
The overall loss rate ticked up by 0.05 percentage points to 0.49% in November. The average loss rate for small ticket deals increased by 0.13 percentage points to 0.69%, the second-highest reading of 2025. Loss rates moved up modestly at banks and captives, and rose more sharply at independents.
“Across the United States, demand continues to strengthen as companies reassess how they deploy capital amid rapid technological change. AI is accelerating refresh cycles for both devices and data-center infrastructure,” said Wayne Fowkes, Executive Vice President of the Americas, CHG-MERIDIAN. “At the same time, businesses are seeking greater financial flexibility as they navigate uncertain economic conditions. With 2025 shaping up to be one of the strongest years for our industry, we expect this momentum to continue, supported by agile, future-ready investment strategies that set a more resilient path for long-term competitiveness. The latest ELFA CapEx Finance Index underscores this shift and mirrors the strong growth we are seeing at CHG-MERIDIAN.”
Industry Confidence
The Monthly Confidence Index from ELFA’s affiliate, the Equipment Leasing & Finance Foundation, tracks the sentiment of executives in the industry. The index remains steady at year end at 58.3 from 59.9 in November, a heightened level for the seventh consecutive month.
Technical Note
New business volume data are concurrently seasonally adjusted each month to capture the latest seasonal patterns. Data in previous months and years may change due to updated seasonal factors.
The Equipment Leasing & Finance Association’s CFI
The CapEx Finance Index (CFI) is the only real-time dataset that tracks nationwide conditions in the equipment financing industry. The information is compiled from a diversified set of businesses that respond to questions about demand for equipment financing, employment, and changes in financial conditions. The resulting data is organized by institution type, such as banks, captives, and independents, and is classified into overall activity and financing for small ticket equipment and software. The CFI is released monthly from Washington, D.C., generally one day before the U.S. Department of Commerce’s durable goods report. More detail on the data and methodology can be found at www.elfaonline.org/CFI.
Posted: December 26, 2025
Source: The Equipment Leasing & Finance Association (ELFA)
SPRING, TX — December 22, 2025 — ExxonMobil, one of the largest publicly traded international energy companies, uses technology and innovation to help meet the world’s growing energy needs.
The company recently launched its new ExxonMobil Signature Polymers portfolio brand, which focuses on delivering best-in-class service and partnerships within the polymers industry. ExxonMobil Signature Polymers unifies ExxonMobil’s polyolefin products under a single brand, simplifying portfolio navigation and promoting enhanced collaboration across the value chain.
Challenge
Over the past few years, the successful use of recycled polypropylene (rPP) content in non-critical auto parts has helped drive automotive original equipment manufacturers (OEMs) to turn their attention to high-performance functional parts.
OEMs have interest in rPP compounds that can meet application requirements for impact resistance at various temperatures and stiffness benchmarks. Those compounds must also be designed for fast injection molding cycle times which can help address cost concerns.
Additionally, aiming to make the automotive sector circular and maximize the efficient use of resources to protect the environment, the European Commission proposed a new regulation on end-of-life vehicles (ELV) in 2023. The new rules include circular design of vehicles to facilitate removal of materials, parts and components for reuse/recycling, and mandate the use of recycled plastics in automotive applications.1
This ask seems reasonable, but the reality is that this is not easily achieved: rPP content, even when originating from ELV waste, typically struggles to meet such demanding automotive OEM specifications.
Solution
Milliken & Company and ExxonMobil have a long history of working together. As a leading supplier of transformative chemical solutions that deliver essential performance, Milliken routinely helps brands and converters balance and enhance the properties and processability of mechanically recycled polypropylene content. ExxonMobil manages a portfolio of performance products that can provide the building blocks to help meet growing global demand for essential products.
Critical automotive OEM parts, such as wheel arch, and front fascia deflectors , must meet flexural modulus (stiffness), tensile strength, and impact strength specifications, so formulations that incorporate rPP content would have to meet these physical property requirements without compromising final performance or negatively impacting the injection-molding process.
Each company brought a unique skill set to help address the challenge. The companies developed trial formulations built around Milliken’s DeltaMax® performance modifiers and ExxonMobil’s Exact™ polyolefin elastomers (POE).
The technical team conducted several compounding trials using up to 25% Exact POE enhanced with DeltaMax® and post-consumer rPP content containing approximately 15% polyethylene.
These compounds were molded into dumbbell-shaped samples, which were then tested for flexural modulus, tensile strength, impact strength at 23 °C and at –20 °C, and for melt flow rate (MFR).
Results
The test results showed a Notched Charpy impact of 50 kJ/m2 at 23°C and 4 kJ/m2 at -20°C could be achieved with a flexural modulus of approximately 900 MPa and a tensile strength significantly above the target from various OEMs — passing the first hurdle of balancing mechanical performance. The MFR was improved more than two-fold over the initial rPP content compound, which has the potential to help reduce part processing costs. This can be achieved by decreasing operating temperatures and lowering cycle time, which can lead to lower energy consumption in the manufacturing process and a lower carbon footprint of the final part.
These results come from the innovative formulation enabled by Milliken and ExxonMobil’s collaboration:
The rubber-like behavior of Exact™ POE can help improve impact strength and limit drops in stiffness compared to other impact modifiers.
DeltaMax® performance modifiers can help improve flow rate and help boost impact further over recycled PP with Exact POE through compatibilization of the matrix-rubber interface, thus helping to facilitate particle dispersion and small particle size.
Following the successful initial trial, ExxonMobil and Milliken collaborated with Ravago, one of the leading compounders and recyclers, to evaluate a new formulation designed to meet the evolving requirements of the automotive industry.
The trial featured a blend of 20% Exact POE, 1% DeltaMax® performance modifier, and Ravapura®, a compound incorporating 25% certified post-consumer recycled (PCR) content — including 6.25% ELV material — in compliance with the new EU regulations.
Benchmarked Ravapura® grade meets the new ELV content thresholds and is suited for specific applications/parts in cars. The enhanced formulation demonstrated significant performance gains:
Melt Flow Rate (MFR): Improved by 200%
Charpy Impact at Room Temperature: Increased by 660%
Charpy Impact at -30°C: Increased by 200%
Although the addition of Exact POE slightly reduces flexural modulus, it substantially enhances impact resistance — bringing performance levels close to those of virgin materials like Exceed™ Tough PP8285E1. Trial results demonstrated that the formulation delivers comparable flow and impact performance to Exceed Tough PP8285E1, under both room temperature and extreme cold conditions (-30°C). This positions the solution as a strong candidate for OEMs and compounders seeking to balance regulatory compliance, sustainability, and mechanical performance in automotive applications.
“We’re excited to see the compound that incorporates rPP achieves similar (and even exceeds) performance as virgin materials,“ said J Dow, Global Market Development Manager for Polyproplylene, Vistamaxx™ and Exact™ at ExxonMobil. “This well demonstrated the value and power of collaboration that we can unleash possibilities by working together to help our customers meet stringent regulations.”
“The creation of viable compounds that incorporate rPP content is a major win, and we’re proud to play a role in solving this challenge together with our collaborators at ExxonMobil,” added Dr. Philippe Scheerlinck, Senior Market Development Manager for Milliken’s Chemical Business.
Data from tests performed by or on behalf of ExxonMobil
WASHINGTON, D.C. — January 2, 2026 — Arlington Capital Partners (“Arlington”), a Washington, D.C.-area private investment firm specializing in government-regulated industries, today announced that it has entered into a definitive agreement to sell Tex-Tech Industries (“Tex-Tech” or the “Company”) to Michelin.
Headquartered in Kernersville, North Carolina, Tex-Tech is a leading developer and manufacturer of proprietary, highly-engineered solutions serving aerospace, space & defense, and specialty industrial end markets. Its products are purpose-built to withstand extreme environments and support applications where performance is critical and the cost of failure is high.
