EXPO PRODUCCIÓN® Announces New 2022 Dates

MEXICO CITY — October 1, 2021 —  Tarsus México and Exposition Development Company, Inc. (ExpoDevCo) announce new dates for the sixth edition of EXPO PRODUCCIÓN. The show will now take place November 16-18, 2022, at Centro Citibanamex, Mexico City.

The organizers are committed to providing a safe, sanitary, and professional event while maintaining the quality that defines EXPO PRODUCCIÓN. The new dates will allow the organizers, all participants, and the industry more time to plan due to the pandemic situation in many countries and its travel restrictions to attend the event.

The power of being face-to-face is essential for developing successful and strategic business relationships and the organizers are prioritizing the well-being of all participants. Our commitment is to assure a strong event with an important local and international participation.

EXPO PRODUCCIÓN has become a leading international exhibition and conference which includes textile engineering, production management, design, and marketing, as well as the development of new products, technologies, and research of the production chain of the clothing, textile and fashion industries, home textiles and technical textiles directed to all Mexico and Central America professionals within these industries.

This biennial show will present its 6th edition, November 16-18, 2022, at Centro Citibanamex, in Mexico City, facilitating a bigger event that will allow exhibitors to showcase their latest machinery, equipment, technology, parts, products, and supplies for the apparel, home and technical textiles industries. The exhibition also includes a comprehensive conference program lead by experts in the industry. After this edition, the event will continue in even years with the 7th edition taking place in March of 2024.

Tarsus México and Exposition Development Company, Inc. thank all the exhibitors, speakers, associations, authorities, educational institutions, attendees, and media who continue to support EXPO PRODUCCIÓN and recognize the value this world-class event provides to the Mexican and the Central American textile industry.

Posted October 1, 2021

Source: Tarsus México / Exposition Development Company, Inc.

Local Dignitaries, Customers Celebrate Grand Opening Of Precision Textiles New Manufacturing Facility In North Carolina

TROY, N.C. — September 30, 2021 — Local business, community and government leaders joined Precision Textiles, a global supplier of coated fabrics, nonwovens and laminates for companies in the mattress, home furnishings, automotive and healthcare industries, as well as military apparel, recently for the grand opening of its new 160,000 square-foot plant located on a 25-acre campus at 163 Glen Road.

After 34 years of manufacturing products domestically out of its headquarters facility in Totowa, N.J., Precision Textiles has formally opened its second manufacturing facility here. The new plant is located near the facilities of many of the company’s customers in the bedding industry — a critical factor in Precision Textiles’ choice for the location of the site.

Troy Mayor Craig Jones and Town Manager Greg Zephie lead a delegation of several local business and community leaders, as well as representatives from Montgomery County Community College, who attended the event.

The opening took place during a ceremony conducted on September 21 at the facility. In attendance were several members of the Precision Textiles leadership team, including Scott Tesser, chief executive officer, Peter Longo, chairman and chief operating officer. Keith Martin, vice president and Gerry Welkley, national sales manager.

“This location puts us right where we need to be,” said Precision Textiles CEO Scott Tesser, as he prepared to cut the ribbon for the opening. “We have been manufacturing out of our New Jersey facility for many years, and now we’re taking the next step. It’s critical to our growth to be located right here, in the heart of one of the largest areas for bedding manufacturing in the Southeast. This opening marks our commitment to the industry, our customers and also our employees.”

Once a textiles production plant that serviced the automobile industry, the Troy facility will eventually double the manufacturer’s needle-punch nonwovens production and boost its high-loft quilting fiber output by 50 percent. In addition to its production capacity, the facility includes warehousing space and will ultimately add 100 jobs to the Troy area, including new employees as well as some experienced staff from the textiles company, Auria Solutions, that previously operated the plant.

The new factory will enable Precision to better serve the needs of its customers throughout the nation and, in particular, reduce shipping times for its customers in the Southeast. The added capacity will also enable the company to meet the needs of both existing and new customers as it seeks new avenues for growing its business down the road.

Posted September 30, 2021

Source: Precision Textiles

Hexion Holdings Corporation Announces Plan to Separate Into Two Independent Companies

COLUMBUS, Ohio — September 29, 2021 — Hexion Holdings Corp. today announced its plan to separate into two independent companies. The two companies will be Hexion Holdings, composed of the company’s Adhesives and Versatic Acids™ and Derivatives product lines, and Hexion Coatings and Composites (US) Inc. (HCC), composed of Hexion Holdings’ former epoxy-based Coatings and Composites products. HCC will be renamed at a later date.

Hexion Holdings anticipates that the HCC separation transaction will be in the form of a distribution of 100-percent of the stock of HCC, a new and independent company to current holders of Hexion Holdings common stock and warrants. Upon completion of the HCC spin, current Hexion Holdings shareholders will own shares of both Hexion Holdings and HCC. As previously disclosed, Hexion Holdings will file a registration statement on Form S-1 with the U.S. Securities and Exchange Commission for a proposed initial public offering on the New York Stock Exchange.

“Today marks the beginning of an exciting new chapter in Hexion’s 122-year history, and continues our strategy of narrowing our focus, improving the Company’s financial flexibility and driving long-term value creation for our shareholders,” said Craig Rogerson, Hexion Chairman, president and CEO. “With our recent strong performance, and after a comprehensive evaluation of strategic actions aimed at unlocking the value of our businesses, our Board and management team have determined that now is the right time to pursue a separation through an IPO and spinoff. The transaction will provide each company with significant liquidity, a sharper strategic focus and appropriately capitalized balance sheets while we continue to serve our customers’ needs. It is a testament to our people and our focus on operational execution that we have reached this successful milestone where our businesses are ideally positioned to be two strong standalone companies.”

The Company believes that this separation will result in material benefits to the standalone companies, including:

  • Distinct strategic and management focus on specific operational, R&D and growth priorities, including the analysis of macroeconomic trends and the implementation of financial targets that best fit each business;
  • A capital structure, dividend policy and capital deployment strategy tailored to specific business models and growth strategies. Both businesses are expected to have direct access to the debt and equity capital markets to fund their respective growth strategies; and
  • An investor base that is aligned with the streamlined value proposition for each company.

Hexion Holdings Building on Strong Momentum and Aligned with Growing Demand for Environmentally Preferred Building and Coatings Materials

Following the separation, Hexion Holdings will consist of the company’s existing Adhesives and Versatic Acids and Derivatives product lines. Hexion Holdings will continue to build on its strong momentum, driven primarily by strong new residential construction and remodeling demand in North America, continued capacity expansion progress and gains from innovative new products, as well as the need for more sustainable building and coatings materials. As a standalone company, Hexion Holdings is expected to have favorable cash flow attributes and a stronger financial profile.

Hexion Holdings generated historical net sales of $2.5 billion and pro forma net sales of approximately $1.4 billion for the year-ended December 31, 2020. Hexion is expected to maintain appropriate debt levels going forward.

HCC Well Positioned to Expand Leadership and Global Presence

HCC will consist of Hexion Holdings’ former base and specialty epoxy resins product lines. HCC will remain a leading global supplier of epoxy resins and systems. As a standalone company, HCC will have greater ability to grow and expand its leadership position in attractive global markets. Importantly, HCC is also focused on addressing customers’ demands for more environmentally preferred solutions, and providing innovative solutions for the wind energy and automotive industries.

With its senior management team based in Rotterdam, the Netherlands, HCC expects to maintain a significant global presence. Stafford, Texas, will serve as its primary U.S. office and HCC will also maintain an executive office in Shanghai, China. In addition, HCC will continue to operate world-scale epoxy plants in Pernis and Deer Park, Texas, as well as additional manufacturing operations in the United States, Germany, Spain and South Korea.

HCC generated total sales of approximately $1.1 billion for the year-ended December 31, 2020. HCC is expected to maintain appropriate debt levels going forward.

Experienced and Proven Leadership

Craig Rogerson will continue to lead Hexion Holdings as chairman, president and CEO. George Knight will continue in his role at Hexion Holdings as Executive Vice President and CFO. Ann Frederix, currently Senior Vice President, Coatings & Composites, Hexion Holdings, is expected to serve as CEO of HCC. Joost Vierhout, currently Senior Finance Director, Global Epoxy and Versatics, Hexion Holdings, is expected to serve as CFO of HCC.

Additional Details

Hexion Holdings and HCC are expected to enter into a Shared Services Agreement, which will provide for Hexion Holdings to provide to HCC, on a transitional basis, certain services or functions that the companies historically have shared, and one or more commercial agreements relating to the ownership, management, maintenance, support and use of certain shared operations services by Hexion Holdings to HCC.

The HCC separation transaction is currently targeted to be completed in the fourth quarter 2021, subject to final approval by the Board of Directors, customary regulatory approvals and tax and legal considerations.

Advisors

Moelis & Company LLC and Morgan Stanley & Co. LLC are serving as strategic advisors in connection with the strategic review, and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Davis Polk & Wardwell LLP are serving as offering and M&A counsel to Hexion.

Posted September 29, 2021

Source: Hexion Holdings Corporation

Ross Stores Appoints Adam Orvos Executive Vice President And Chief Financial Officer

DUBLIN, Calif. — September 29, 2021 — Ross Stores, Inc. announced today that Adam Orvos, currently Group Senior Vice President, Supply Chain Administration, is being promoted to Executive Vice President and Chief Financial Officer effective October 1, 2021. In his new role, Mr. Orvos will be responsible for the Company’s accounting, treasury, financial planning, tax, corporate social responsibility, and investor relations functions. As CFO, he will report to Michael Hartshorn, Group President and Chief Operating Officer.

Mr. Orvos joined Ross Stores in January 2021 as Group Senior Vice President, Supply Chain Administration. His 34 years of broad-based retail management experience includes serving as Chief Financial Officer for Neiman Marcus, Belk Department Stores, and the Foley’s Division of The May Department Stores Company. He has also held senior executive roles at Lowe’s and Total Wine & More.

Barbara Rentler, Chief Executive Officer, commented, “ no quote Adam is a talented senior executive who brings numerous years of financial leadership and a broad operational background to his new position of CFO for Ross. We are confident that his proven financial management experience, business acumen, and deep understanding of the retail industry will be valuable assets as he assumes this important role for the Company.”

Posted September 29, 2021

Source: Ross Stores, Inc.

Carbios Launches Industrial Demonstration Plant For Its Unique Enzymatic Recycling Technology

CLERMONT-FERRAND, France — September 29, 2021 — Carbios, a company pioneering new enzymatic solutions to reinvent the lifecycle of plastic and textile polymers, announced the official opening and launch of an industrial demonstration plant operating with its enzymatic recycling technology, C-ZYME®, which was installed on the Cataroux site in Clermont-Ferrand.

“For more than 10 years, we have been creating innovative solutions to rethink the end of life of plastics and textiles,” said Jean-Claude Lumaret, Carbios’ Chief Executive Officer. “This industrial demonstration plant fulfils the promises of our enzymatic recycling process, C-ZYME®. The continuous cycle of recycling PET waste is one step closer to becoming a reality!”

The demonstration plant marks the culmination of the development of the C-ZYME® technology. It will allow the validation of the enzymatic PET recycling process’ technical, environmental, and economic performance, as well as the design of future industrial units. By the end of 2022, its operation will enable the complete engineering documents for the process (Process Design Package) to be drawn up for the building and operation of a 40,000-tonne/year capacity reference unit as well as future factories to be run under licensing agreements.

“The demonstration plant includes a 20m3 depolymerization reactor capable of processing 2 tonnes of PET per cycle, which is the equivalent of 100,000 bottles. This is a watershed moment, highlighting how this revolutionary process works on a large scale,” added Mr. Lumaret.

The optimization of the operating parameters as well as the production of the monomer batches are now carried out by a team of 10 people. An initial hydrolysis has been successfully realized, confirming the upscaling of the process.

The C-ZYME® recycling process uses an enzyme capable of depolymerizing PET (polyethylene terephthalate), which is found in a variety of plastic and textile items. The depolymerized monomers are purified before being repolymerized into PET of comparable quality to virgin PET derived from petrochemicals. Unlike traditional methods, Carbios’ breakthrough enables unlimited recycling of all sorts of PET waste (clear, colored, opaque, complex plastics, polyester textiles) as well as the production of 100% recycled and 100% recyclable PET goods that maintain their virgin quality throughout the process.

Posted September 29, 2021

Source: Carbios

Merrow Manufacturing & Precision Fabrics Group Create New U.S.-Made, Reusable PPE To Optimize Availability, Protection And Comfort For Frontline Healthcare Providers

FALL RIVER, Mass. — September 29, 2021 — An unprecedented backlog of all imports, which includes medical products, is creating a crippling supply chain crisis throughout the United States. Last week, the Port of Los Angeles/Long Beach announced that a record 70 container vessels were waiting offshore to unload their goods. In response, Merrow Manufacturing and Precision Fabrics Group (PFG) have mobilized their resources to alleviate widespread shortages, sub-standard design, highly variable quality, and increased prices of PPE with the creation of domestically produced reusable Level 1 and 2 isolation gowns. This proprietary gown design was created in collaboration with a group of infection prevention nurses and medical product engineers. The Merrow and PFG teams responded to the nurses’ acute concerns around PPE: “Will we get it? Will it perform?”

“Our mission has been to intensively listen and incorporate the nurses’ experience, insights, needs and wants into a protective gown that will provide comfort and freedom of movement, without sacrificing full-on protection during this incredibly strenuous COVID era,” says James Barry, Business Manager of Healthcare Products at PFG.

In addition to being reusable up to 125 times, these medical protective gowns are made of high-performance, antimicrobial, medical grade fabric, engineered for optimal protection of the body and neck areas, while also being priced competitively with lower quality, disposable PPE alternatives on a cost-per-use basis.

According to Merrow Manufacturing CEO Charlie Merrow, this advancement in isolation gown design and fabrication will not only sustain a supply of much needed U.S.-sourced PPE for healthcare workers, but also lower costs, enhance efficiencies, and maintain quality.

“The scarcity of PPE in the U.S. during 2020 preceded a hospital staffing crisis that is currently forcing some facilities to ration care. The latest increase in COVID cases only exacerbates the potential for substantial supply-chain disruption that has ensnared movement of goods worldwide,” says Merrow. “By combining this new innovative product with our sustainable production model, we can prevent a catastrophe.”

Merrow and PFG’s post-pandemic industrial-based expansion of 100% USA sourced medical protective equipment, with a mission to operate at scale and as a sustainable, agile, industrial platform, strengthens the nation’s public health and medical infrastructure and ensures a continuous, accessible, secure source of PPE supply. The facilities in which they are manufactured are registered with the Food and Drug Administration (FDA). Proven in independent testing, the Merrow/PFG L2 Medical Gown meets and exceeds ASTM Level 1 & 2 standards.

With flu season rapidly approaching, private and public healthcare institutions are searching for immediate, reliable solutions to supply chain disruptions. This nurse-engineered product’s unique combination of secure domestic supply, innovative technology, and improved sustainability has the potential to resolve these issues and provide safety for providers, patients, and public health agencies. Federal and State organizations aligned with this mission are encouraged to contact Merrow and PFG.

Posted September 29, 2021

Source: Merrow Group Companies

The American Apparel & Footwear Association Calls On House To Move Forward With Shop Safe Act After Bill Passes Committee

WASHINGTON, D.C. — September 29, 2021 — The American Apparel & Footwear Association called on the House to quickly approve the SHOP SAFE Act, following its advancement out of the Judiciary Committee today. The bipartisan bill would establish trademark liability for e-commerce platforms when a third-party sells a counterfeit that poses a risk to consumer health or safety via its platform.

“The proliferation of counterfeit products on some of our most trusted online marketplaces hampers American business and puts American consumers in harm’s way,” said Christina Mitropoulos, Director, Brand Protection & Manufacturing Initiatives at the American Apparel & Footwear Association. “We are glad to see Congress prioritize the protection of American intellectual property with this bipartisan bill, and look forward to working with members of the House Judiciary committee to improve the language of the bill ahead of its vote on the floor.”

AAFA has advocated for widespread action to prevent the sale of counterfeit products. In addition to supporting the SHOP SAFE Act, AAFA has come out in support of the INFORM Consumers Act, which would increase transparency when shopping online. AAFA has also submitted recommendations to the U.S. Patent and Trademark Office regarding secondary trademark infringement liability through ecommerce. Further, a recent report by AAFA highlights that the problem of counterfeit sales has expanded from third-party marketplaces to include mainstream social media platforms.

Posted September 29, 2021

Source: The American Apparel & Footwear Association (AAFA)

Culp Inc. Adds Three New Independent Directors — John Baugh, Kimberly Gatling, And Jonathan Kelly Elected To Board Of Directors

HIGH POINT, N.C.— September 29, 2021 — Culp, Inc. (Culp) today announced the election of John A. Baugh, Kimberly B. Gatling, and Jonathan L. Kelly as members of its Board of Directors following the company’s annual meeting of stockholders held earlier in the day.

Mr. Baugh, Ms. Gatling, and Mr. Kelly join the company as new independent directors, each bringing unique experiences and professional backgrounds to Culp.

Mr. Baugh is the Vice President of Investor Relations at PROG Holdings, Inc., a publicly traded fintech holding company headquartered in Salt Lake City, Utah. Prior to joining PROG Holdings in September 2020, he was a sell-side analyst with Stifel Financial, serving as Managing Director, Senior Equity Research from 2005 – 2020. He also served as a sell-side analyst for Legg Mason Securities from 2004 – 2005 and Wheat First Union/Wachovia Securities from 1983-2004. During his 37 years as an analyst, he covered industries including home furnishings, retail, building products, and lease-to-own, including coverage of Culp and many of its largest customers. He brings to Culp a deep understanding of capital markets and institutional investing, as well as substantial knowledge about the furniture and bedding industries, both domestic and international.

Ms. Gatling has been a partner at Fox Rothschild since 2008 and has served as the Chief Diversity and Inclusion Officer for all the firm’s 27 offices since 2020. She is a United States Registered Patent Attorney and a North Carolina State Certified Trademark Specialist, and her legal practice is focused on intellectual property and information technology. Over the course of her legal career, she has counseled a variety of clients in the textile industry, and in her role as Chief Diversity and Inclusion Officer, she develops strategies that increase and promote an inclusive environment at all levels of the law firm. Gatling is the incoming Chair of the Board of Directors for the Cone Health Foundation, serves as an Associate Director for Truliant Federal Credit Union, and is a Trustee for North Carolina A&T State University. She brings a robust skillset to Culp including extensive corporate governance and legal knowledge, data protection, technological innovation, product development, intellectual property protection and enforcement strategy, and marketing and advertising expertise.

Mr. Kelly is the founder and chief executive officer of Asymmetric Holdings Worldwide, a North Carolina-based investment holding company focused on investment strategy and capital allocation. He has over two decades of experience working with closely held multinational firms and family offices on principal investment, M&A, and capital allocation strategies, including Orient Global, Koch Industries, Abu Dhabi National Energy Company, HBK Investments, and the Heinz family. He has also served on the board of directors of Quintet, a U.S.-based operator of limited-service restaurants, Grupo SALA, a pan Latin American specialty waste portfolio company of ACON Investments, and Viet Thai International JSC, an ASEAN-based consumer conglomerate. Kelly is a member of the Young Presidents’ Organization and the National Association of Corporate Directors. He brings deep knowledge and experience in investment and capital allocation strategy, financial management, strategic planning, and global M&A, as well as an understanding of the complex legal, regulatory, and finance issues facing international businesses.

At the company’s annual meeting of stockholders, eight nominees were elected to the Culp Board of Directors. In addition to Mr. Baugh, Ms. Gatling, and Mr. Kelly, the following incumbent directors were re-elected: Robert G. Culp, IV; Perry E. Davis; Sharon A. Decker; Fred A. Jackson; and Franklin N. Saxon.

Iv Culp, president and chief executive officer of Culp, Inc., said, “We are delighted to welcome John Baugh, Kimberly Gatling, and Jonathan Kelly to our Board of Directors. Each of these very capable individuals has demonstrated strong leadership in their respective professions with extensive corporate and industry experience that will complement the work and expertise of our other Board members. One of our top priorities is to have a Board of Directors that brings together individuals with diverse skills and ideas, from varying backgrounds and experiences, to create balanced, objective, and thoughtful decision-making that best serves shareholder interests and maintains sound governance practices. We will benefit from the fresh insight, experience, and perspective of our new members as we focus on executing our growth strategy. Additionally, they have each demonstrated a commitment to public service and community leadership, which aligns well with our corporate culture. We look forward to working together to further enhance Culp’s leadership position in today’s global marketplace and delivering greater value to our shareholders.

“Today’s annual meeting also marks the completion of terms for two of our directors, Ken Larson and Ken McAllister. Ken Larson has been a director of Culp since 2004 and Ken McAllister has served since 2002. We are extremely grateful for their guidance and invaluable contributions to Culp’s growth and success over the course of their tenure, and we wish them both all the best,” said Culp.

Culp, Inc. is one of the world’s largest marketers of mattress fabrics for bedding and upholstery fabrics for residential and commercial furniture. The company markets a variety of fabrics to its global customer base of leading bedding and furniture companies, including fabrics produced at Culp’s manufacturing facilities and fabrics sourced through other suppliers. Culp has manufacturing and sourcing capabilities in the United States, Canada, China, Haiti, Turkey, and Vietnam.

Posted September 29, 2021

Source: Culp, Inc.

Introducing GORE-TEX Products With An Innovative Expanded Polyethylene (ePE) Membrane

ELKTON, Md. — September 29, 2021 — W. L. Gore & Associates (Gore) has announced that the consumer business of its Fabrics Division will be introducing the use of expanded Polyethylene (ePE) as a new complementary material platform to serve as the basis for their membrane technologies. Gore’s new ePE membrane will appear in GORE-TEX brand consumer products beginning in the Fall/Winter 2022 season.

Products featuring Gore’s new ePE membrane will be introduced in a selection of consumer-end uses including general outdoor and lifestyle garments, lifestyle footwear and snow sports gloves from select customers including (but not limited to) Adidas, ARC’TERYX, Dakine, Patagonia, Reusch, Salomon and Ziener.

The announcement of Gore’s new ePE membrane reaffirms the GORE-TEX brand’s ongoing commitment to responsible performance – defined by Gore as applying the brand’s unique experience, science and capabilities on a continuous journey to unlock new levels of both performance and sustainability.

Gore applied their decades of scientific knowledge and polymer expertise to discover the combination of the right materials and processes that manipulate ePE into a strong microporous material.

Posted September 29, 2021

Source: W. L. Gore & Associates (Gore)

Benetton Group Entrusts Dematic With An Automation Solution For Key Logistics Facilities In Italy

CERNUSCO SUL NAVIGLIO, Italy — September 29, 2021 — Dematic is proud to announce today an agreement with Benetton Group, one of the best-known fashion companies in the world with the iconic brands as United Colors of Benetton and Sisley, with a retail network of over 4,000 stores.

At the end of 2022, Dematic will implement a solution featuring an AutoStore™ system in the Benetton Group’s logistics facilities in Villorba (TV), Italy with the aim of boosting its e-commerce channel by optimizing storage capacity and order processing.

The Benetton Group has been seeking to make its picking operations more efficient, flexibile and agile by reducing required space, improving picking times and extending the life of its logistics facilities.

Flavio Este, Dematic Italy Managing Director said, “As an expert in automation, has been exciting to be so close to such a forward-looking customer and build a solid partnership for the future of their commerce.”

Rosario Filomena, Dematic Italy Sales Manager who handled the negotiation, continued, “The Benetton Group will be able to achieve its e-commerce objectives with this scalable solution featuring AutoStore, a very compact, easily expandable high-performance storage system with minimal energy consumption and a high degree of security.”

“We chose Dematic because we were interested in a partner with significant experience in the e-commerce sector and a solid international background,” declared Valentino Soldan, Head of Logistic at Benetton Group. “We are convinced their AutoStore-based solution will meet our business needs perfectly, and we are confident in facing an increasingly challenging market with a structured and technologically advanced solution, capable of accompanying our development for many years to come.”

Dematic software will control and manage the entire operation. The AutoStore system will be implemented with 60,000 bins and orders will be picked by 53 mobile robots that travel over the top of the storage units and descend into the units to access the bins with the requested items. The robots then transport the items to one of 12 pick stations where the items are grouped together for further processing in production. (Benetton Group staff previously had to travel long distances to pick individual items.)

Posted September 29, 2021

Source: Dematic

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