Alpha Private Equity Reaches An Agreement For The Sale Of 100 Percent Of Savio Group To Vandewiele

MILAN/BRUSSELS — January 4, 2021 — Itaca Finance S.A., a company controlled by Alpha Private Equity, reached late last year an agreement for the sale of 100-percent of Savio Group to Vandewiele, a Belgium-based global group active in the construction and installation of textile machinery.

The completion of the transaction is expected in spring 2021. Financial terms of the transaction are not disclosed.

Founded in 1911 and headquartered in Pordenone, Italy, Savio Group is a designer and manufacturer of winding machines and quality control devices for the textile industry, with operations in Italy, China, India, Belgium, Germany, Switzerland and Czech Republic. In 2019 Savio reported consolidated revenues of 270 million euros.

Founded in 1880 in Kortrijk, Belgium, Vandewiele offers mechatronics solutions — a combination of mechanical and electronics engineering — to serve textile and electronics customers around the world. The relentless focus on innovation and long-term vision will allow further growth for both companies in the new digital age. Vandewiele reported 2019 revenues of 370 million euros with more than 3,000 employees. Its major plants are located in Belgium, China, Italy, France, Sweden and Germany.

The transaction aims at strengthening Savio’s international and industrial development, exploiting significant synergies, both from a commercial and operational standpoint.

Alexander Zschokke will keep on serving as chairman of Savio Group.

“Receiving such strong interest from important players in this challenging period is a recognition of Savio’s strategic value,” Zschokke said. “In the long-term, being part of the Vandewiele Group will preserve our entrepreneurial culture focused on innovation, operational excellence and commercial development.”

Charles Beauduin, CEO of Vandewiele, stated: “We are extremely proud to welcome the Savio Group with its strong tradition and technology in our group. The joining of our technological capabilities, R&D and industrial operations will allow us to grow strongly in the next few years”.

Paolo Magni, Partner of Alpha Private Equity, commented: “Since the acquisition (a primary and proprietary deal for Alpha), we have worked closely with Management to support them in consolidating Savio’s technological leadership, leveraging on sizable R&D investments, successful launch of innovative products and execution of strategic M&A transactions, creating a world-leading position for Savio as a result. The acquisition by Vandewiele marks a new phase of growth for Savio, which will rely on a strong industrial shareholder, with solid operational and financial capabilities, able to enhance and promote relevant industrial and commercial synergies. We look forward to following the company’s strong development and the continuation of its journey with its new owners.”

Rothschild, Pedersoli Studio Legale and Deloitte advised Alpha Private Equity in the transaction. Cassiopea Partners and teams from Deloitte and Deloitte Legal advised Vandewiele.

Posted January 5, 2020

Source: Savio Macchine Tessili S.p.A.

6th ITMF Corona-Survey: Improved Turnover Expectations For 2020 And beyond

ZURICH — December 18, 2020 — Between November 20 and December 14, 2020, ITMF conducted its 6th ITMF Corona-Survey among ITMF members and affiliated companies and associations about the impact the Corona-pandemic has on the global textile value chain. In total, 159 companies from around the world participated.

In comparison to the 5th ITMF Corona-Survey conducted between September 5-25, 2020, the turnover expectations have improved in the 6th survey by 4 percentage points from -16% to now -12% compared to 2019 (See Graph 1).

Graph 1: Worldwide, expected turnover 2020 is down on average by -12% (versus 2019).

For 2021 and the following years, turnover expectations have overall improved slightly (see Graph 2). On average, the companies are expecting a small improvement from -1% (5th survey) to +3% (6th survey) compared to 2019. Also, for 2022 and 2023 the outlook has improved slightly from +9% (5th survey) to +11% (6th survey) and from +14% (5th survey) to +15% (6th survey), respectively. The turnover expectations for 2024 – compared to the 2019 levels – have not changed (+18% in the 5th and 6th survey).

The latest survey reveals that in the medium- and long-term turnover expectations have not changed significantly. Nevertheless, due to the reduced turnover drop of -10% in 2020, the industry is expecting to recover the losses incurred in 2020 by the end of 2022.

Graph 2: Worldwide, expected turnover to increase by +18% until 2024 (versus 2019)

Additional and more detailed information about the 6th ITMF Corona-Survey are included in the current edition of the ITMF Newsletter.

Posted January 5, 2020

Source: ITMF

Unilever And Innova Partnerships One Step Closer To Self-Cleaning Surfaces

LONDON — January 5, 2021 — The world first breakthrough has come with the introduction of an organic compound called Lactam which can block, or prevent, bacteria and mold on everyday surfaces.

This patented technology, which Unilever has been researching for over 10 years, is developed from natural chemicals in seaweed biology and has the potential to be used in a range of situations – from preventing fungal growth in washing machines and dishwashers to self-cleaning banknotes.

Everyday items including clothing and kitchen surfaces are constantly challenged by bacterial contamination. Over 80% of bacterial infections in people are estimated to involve the formation of biofilms, a collection of microorganisms that grows on many surfaces. These microorganisms are formed and developed through bacterial communications systems, but now research has found that by disrupting these systems it’s possible to not only prevent them from growing in the first place but to keep the surfaces cleaner for longer.

Penhros Bio could help to tackle some of the biggest societal and environmental challenges of the 21st century. It represents significant opportunity across multiple sectors, including healthcare, textiles, and marine and could even be used in medical fields where microbial biofilms are commonplace.

Dr. Neil Parry, R&D Program Director – Biotechnology and Biosourcing, Unilever, explained: “This technology replicates the natural cleaning process of seaweed; keeping surfaces clean and repelling unwanted invaders from its direct environment. This biology works in extreme conditions such that it will keep working in dirty waters by blocking the communication between bacteria so that it cannot colonize and build up on healthy surfaces of the plant. This is what we have successfully replicated in the lab, and now we are ready to start trialing this in our Unilever cleaning products.”

Dr Jon Hague, Unilever’s Vice President for Science & Technology, Unilever Homecare said: “The commercialized use of Lactam presents a significant opportunity for cleaning products globally and could revolutionize the industry. However, what we have found is a unique technology in which its uses are almost limitless. We recognize what this technology can represent at scale for many sectors outside of Unilever’s portfolio. Through Penrhos Bio, we want to connect with other industries that would benefit from using this solution.”

Professor Steve Howell, Founder of Innova Partnerships said: “This is such an exciting and innovative space. We’re currently working with license partners for banknotes and dental applications, but there are so many more uses in which this technology could benefit.”

Posted January 5, 2020

Source: Unilever

Teledyne CML Composites Awarded Airbus A400M “Life Of Program” Contract

BROMBOROUGH, England — January 5, 2021 — Teledyne CML Composites announces the award of a contract with Airbus in Madrid for the “Life Of Program” supply of composite wing components & assemblies on the A400M Tactical Airlifter.

Designed making extensive use of advanced composite materials, the awarded package of parts includes a range of Thermoplastic and Pre-Preg composite components to be supplied to the Airbus A400M composite wing box assembly line at the Filton facility in Bristol in the United Kingdom.

“The decision to award this latest package to Teledyne CML Composites is a reflection of our proven track record to supply high quality composite parts that exceed our customers’ expectations,” said John Toner, vice president and general manager, Teledyne Aerospace and Defence Electronics UK (TADE UK) and General Manager of Teledyne CML Composites.

John Toner added: “With this A400M contract award, we have concluded a significant investment in a new Thermoplastics processing cell. Having identified Thermoplastics as a key technology in our long term growth ambitions, this investment adds an exciting new automated manufacturing capability to our business and places Teledyne CML Composites at the forefront of composites manufacturing technology.

The Airbus A400M is designed to meet the requirements of current and future armed forces to conduct strategic transport of heavy vehicles/equipment and tactical airlift of personnel into theatres of operations. It is already proven in operation with the air forces of the United Kingdom, Germany, France, Spain, Turkey, Belgium, Luxembourg and Malaysia,

Highly versatile, the Airbus A400M can be configured for cargo, a range of military helicopters and vehicles, heavy engineering equipment, up to 120 fully equipped troops, 66 stretchers and 25 medical personnel for aero-medical evacuation. The A400M is also convertible to a tactical tanker, with the ability to refuel a range of aircraft and helicopters.

Teledyne CML Composites continues to enjoy a period of significant growth as a composites manufacturer to commercial aerospace and defence aerospace customers worldwide. For decades, this industry sector has continually expanded as designers develop enhancements to performance, range, and payload through weight reduction of new generations of aircraft, whether commercial or military. Teledyne CML Composites’ investment in Thermoplastic processing technology underscores the company’s long-term plans to play a key part in this industry sector.

Posted January 5, 2020

Source: Teledyne CML Composites

Macy’s Names Nata Dvir Chief Merchandising Officer

GLENDALE, Calif. — January 4, 2021 — Macy’s Inc. today announced that Nata Dvir has been named chief merchandising officer of the Macy’s brand, effective February 1, 2021. She currently serves as Macy’s senior vice president and general business manager for Beauty and Center Core merchandise.

In her new role, Dvir will be responsible for leading Macy’s Merchandising, with oversight of all merchandising categories and private brands. She will report to Jeff Gennette, Macy’s, Inc. chairman and CEO. Dvir will succeed Patti Ongman, who, as previously announced, plans to retire at the end of the 2020 fiscal year.

“Nata is a strong merchant with deep connections to our partners, first-rate instincts and an eye for newness,” said Gennette. “I’m confident that she will continue our merchandising transformation, influencing our customers’ personal style through accessible fashion, clear value and an enhanced digital and store experience.”

“Patti is an accomplished retail executive and an inspiring leader. On behalf of everyone at Macy’s, I want to thank her for her many contributions to the company over the last four decades and the tremendous impact she has had on our organization. We wish her all the best in her retirement,” continued Gennette.

About Nata Dvir

Dvir has held various leadership roles within Macy’s merchant organization, including experience in Men’s, Beauty, Shoes, Jewelry, Food and Licensed businesses. In September 2017, Dvir was named Macy’s General Business Manager for Beauty, a new role in the organization. In that role, she has transformed the cosmetics and fragrance business, creating a more open and experiential environment in store, enhancing entertainment and customer experiences, taking a fresh approach to digital engagement and expanding new brands.

In February 2020, Dvir added responsibility for Center Core merchandise, including jewelry, handbags, shoes, intimate apparel and accessories. Since that time, she has infused newness by adding brands and updated products. She is focused on expanding Macy’s online assortment and evolving the service model in stores.

Dvir began her career as an executive trainee at Macy’s. She holds a bachelor’s degree from Syracuse University.

Posted January 5, 2020

Source: Macy’s, Inc.

Avery Dennison Acquires ACPO Ltd.

GLENDALE, Calif. — January 4, 2021 — Avery Dennison announced today that it has acquired the business of Ohio-based ACPO Ltd. for the purchase price of $87.6 million, subject to certain post-closing adjustments. ACPO is a leader in pressure-sensitive overlaminate products for the label and flexible packaging markets and has approximately 170 employees.

Avery Dennison has acquired the majority of ACPO’s assets, including coating, finishing and distribution operations at its Oak Harbor, Ohio, headquarters, as well as three finishing and distribution sites in Atlanta; Oak Creek, Wis.; and Vancouver, Wash. ACPO employees will transition to the Avery Dennison Label and Graphic Materials team.

“Our acquisition of ACPO will further strengthen our leadership in core label materials segments,” said Mitch Butier, Avery Dennison’s chairman, president and CEO. “By adding ACPO’s well-regarded and complementary overlaminate product, we are increasing our product portfolio and adding even more value for our customers.”

“We are delighted to have ACPO become part of Avery Dennison,” said Missy Larick, COO, Esperia Holdings LLC, the holding company of ACPO Ltd. “As anyone in our industry knows, Avery Dennison is a strong, sophisticated global organization and a brand known and respected worldwide, which will help accelerate the commercialization of ACPO products around the globe. We know that tapping into the know-how of Avery Dennison’s materials scientists, with their expertise in adhesives, base labels, and surface chemistry, will dramatically accelerate innovation of ACPO products.” Larick will play a key role during the transition and will stay with Esperia Holdings LLC as COO.

Jeroen Diderich, vice president and general manager, Avery Dennison Label and Graphic Materials North America, noted that ACPO’s reputation for quality and service, its entrepreneurial spirit and its agile, customer-focused way of working — from quick turnaround to low minimum-order quantities — makes it a good fit for Avery Dennison’s culture and the current state of the market. “Our top priority is to ensure industry-leading service, quality and unmatched customer responsiveness for customers of both businesses,” said Diderich. “We look forward to leveraging ACPO’s strengths, learning from their people, and welcoming them as valued members of the Avery Dennison family.”

Posted January 5, 2020

Source: Avery Dennison Corporation

HanesBrands Wins Infringement Case Against Six Defendants in China

WINSTON-SALEM, N.C. — January 5, 2021 — HanesBrands, a global marketer of branded everyday basic apparel, today announced that it has received a favorable judgment from the Nanjing Intermediate People’s Court in a trademark infringement case involving its Champion brand in China.

“The case marks a significant victory for the Champion brand,” said Jon Ram, president, global activewear, HanesBrands. “We will continue to aggressively defend our intellectual property in China and around the world.”

The case involved the production and distribution of counterfeit Champion products and the operation of unauthorized Champion retail outlets by six defendants. The defendants, Hurricane, Chengda, Rainbow Wing, Fuxun, Yunma and Wu Zhanghao, were ordered to immediately cease all infringement of the Champion brand. The defendants were also ordered to pay fines totaling more than $600,000.

Posted January 5, 2020

Source: HanesBrands

Tukatech Offers New Year Gift For First Time Users

LOS ANGELES — January 4, 2021 — With the growing popularity of Tukatech’s subscription and web-based services portal, TUKAweb has made many new updates to the site including the shift of software subscriptions to a convenient monthly auto-renewal model. Subscribers will no longer have to pay in advance for each month of use, but now they will be billed automatically until they cancel. This will ensure uninterrupted software access and continued flexibility for any duration needed to use the software.

As a New Year gift to the Industry, new subscribers will be able to try any software package free for 30 days, and receive access to online, self-paced software training courses via the Tuka Academy of Pattern Engineering (TAPE).

The new subscription model is available for all TUKAcad packages — including TUKA APM for automatic pattern making — and the TUKA3D Designer Edition software. Existing subscribers will finish out any time they have paid for under the previous model, then automatically transition to the auto-renewal model when they resubscribe.

According to Chris Walia, Tukatech’s COO, the fashion businesses who have switched from physical software keys or dongles tend to prefer the cloud-based license subscription. This has been an especially popular option during the pandemic, with many professionals needing to work remotely.

Walia said: “We see new TUKAcad and TUKA3D DE Visualizer subscribers every day. Software subscriptions in the apparel industry will be the norm, even after the pandemic.”

TUKAgroup Founder and Chairman Ram Sareen believes the software subscription model is the only way for the fashion industry technology sector to move forward. This model, he says, will reduce the barrier to entry for new fashion businesses, and give them access to technology that reduces their product development time. With his methods and recommended processes, apparel companies can save 50 percent or more on people and time.

The reason for the 30-day free software trial, Sareen explained, is that he “Wanted to give a special gift to the industry and help them jump start using and learning digital solutions with little or no expenses from their end.”

In addition to Tukatech software subscriptions, TUKAweb offers services for CAD data conversion, pattern making, grading, marker making, and 3D sample making. Users can also take advantage of the assets library, which is updated weekly with premade 2D patterns and 3D garments to use as fashion design templates for new styles.

Posted January 5, 2020

Source: Tukatech

Nippon Express (Shenzhen) Renamed Nippon Express Logistics (China)

TOKYO — January 5, 2021 — Nippon Express (Shenzhen) Co. Ltd. (NE Shenzhen), a Shenzhen, China-based local subsidiary of Nippon Express Co. Ltd., has changed its name to Nippon Express Logistics (China) Co. Ltd. (NE Logistics China), effective Sunday, November 1, 2020, to mark its new start as a company specializing in logistics support.

After opening for business in July 1994, NE Shenzhen had been engaged in air and ocean cargo forwarding, warehousing and distribution, trucking, and heavy haulage- and construction-related operations in the Shenzhen area in support of customers’ supply chains.

The company recently transferred its air and ocean cargo forwarding functions to the Shenzhen Branch of Nippon Express (China) Co., Ltd. in order to devote itself to domestic logistics support across Mainland China (excluding Hong Kong), with the intent of making its sales and operations more focused and more efficient by specializing in logistics support operations within Mainland China. To highlight its specialization in logistics support operations, the company changed its name to “Nippon Express Logistics (China),” incorporating the word “logistics,” the Chinese equivalent of which denotes warehousing and distribution, and removing “Shenzhen” to indicate that its operating territory will extend to other areas besides Shenzhen.

– Future plans

NE Logistics China will be striving to further cultivate existing customers throughout China, and to expand its domestic logistics support as well as heavy haulage- and construction-related operations centered on apparel and consumer goods.

– Company profile

  • New company name: Nippon Express Logistics (China) Co., Ltd.
  • Previous company name: Nippon Express (Shenzhen) Co., Ltd.
  • Address: B105-36 Futian Free Trade Zone, Shenzhen, 518038 China
  • Representative: Hanjian Wang
  • Employees: 254 (as of November 30, 2020)
  • Warehouse area: Approximately 63,500m2 (total for all locations)
  • Offices: Four (two in Shenzhen, one in Dongguan, and one in Wuhan)
  • Description of business: Warehousing, trucking, and equipment conveyance/installation

Posted January 5, 2020

Source: Nippon Express Co., Ltd.

Steven B. Tanger Transitions From CEO To Executive Chair Of Board Of Directors

GREENSBORO, N.C. — January 5, 2021 — Tanger Factory Outlets Centers Inc., a operator of upscale open-air outlet centers, today announced the implementation of the executive succession plan initially outlined in April 2020.  As of January 1, 2021, Steven B. Tanger has transitioned to executive chair of the company’s board of directors, effective through January 1, 2024, and Stephen Yalof has assumed the role of CEO of the company. David B. Henry, previously non-executive chair of the board, has been appointed to lead director.

In 1984, Tanger joined Stanley K. Tanger as the company’s fourth employee. At that time, Tanger had seven centers in six states totaling approximately 344,000 square feet. With over 40 years of experience in the outlet industry, Tanger Outlets has grown to include 38 centers in 20 states and Canada, totaling approximately 14.1 million square feet, and hosts more than 180 million visitors annually. The Company has created jobs for more than 40,000 people across the U.S. and Canada.

Previously, Tanger was a Trustee of the International Council of Shopping Centers (ICSC), a Director of The Fresh Market, a member of the Real Estate Roundtable and a Director and Member of the Executive Committee of the National Association of Real Estate Investment Trusts (NAREIT). Tanger received the Lifetime Excalibur Award from the American Cancer Society in 1996 for his efforts in the fight against breast cancer, which continue today. In April 2011, Tanger received the UJA-Federation Award of Excellence and in May 2012, The American Apparel & Footwear Association awarded him the Excellence in Retail Award.

Tanger has received numerous awards recognizing the highest level of civilian contribution to several states, including North Carolina’s Order of the Long Leaf Pine, The Order of the Palmetto from the State of South Carolina and the Commodores Award in the State of Ohio. In 2013, Tanger became the named donor for the Steven B. Tanger Performing Arts Center in Greensboro, NC. In 2014, Tanger won the prestigious Ernst & Young Entrepreneur of the Year Award for the Southeast in Retail and Hospitality and was inducted into the North Carolina Business Hall of Fame for his contributions to the state’s business community over the last 44 years. In 2015, Tanger was inducted into the Outlet Industry Hall of Fame and was the commencement speaker for the UNC Kenan-Flagler School of Business graduation in 2016.

“I am very proud of what our team accomplished at Tanger Outlets during my 36 years on the management team, including 12 years as CEO. I look forward to continuing to provide ongoing guidance and support as executive chair of the Board. Since Stephen joined us last April, he has proven to be an invaluable leader and will take our company to its next stage of our growth,” Tanger said. “With his extensive experience and successful industry track record, I believe he will be able to help Tanger navigate the ever-evolving retail landscape and position us for success for many years to come.”

“I am honored to assume the role of chief executive officer of Tanger Outlets during this important and transformative time,” Yalof said. “While 2020 brought unprecedented challenges, our outlook is improving.   We are curating new ways to serve our customers in a safe, secure manner to grow our business for the long-term.”

Yalof joined Tanger Outlets as president and COO in April 2020. Prior to Tanger, he served as CEO of Simon Premium Outlets since 2014. Yalof has over 20 year of experience with retailers, including his tenure in leadership roles at Ralph Lauren Corporation and The Gap Inc.

Posted January 5, 2020

Source: Tanger Factory Outlet Centers Inc.

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