Global Chemical Producer Indorama Ventures Reports 2020 Third Quarter Results

BANGKOK, Thailand — November 9, 2020 — Indorama Ventures Public Co. Ltd. (IVL), a global chemical producer, has announced its third quarter 2020 financial results as follows.

3Q 2020 Performance Summary:

  • Reported net profit is 380 million Thai bahts ($12.5 million) in 3Q20 and 1,104 million Thai bahts ($36.4 million) for 9M 20. Our performance this year provided us significant insights into the growth of the future market, while the company remains on a path towards enhanced incremental performance progress, from 4 percent ROCE towards our target ROCE of 15 percent by 2023.
  • In 3Q20 we delivered record sales volume of 3.6 million tonnes, registering growth of 18 percent year-on-year (YoY). Sales volume grew to 3.2 million tonnes, or 4 percent YoY on a comparable basis. This continuous volume growth is a clear indication of the resilient nature of the company’s products and the global access we have to our customers.
  • IVL achieved an operating cash flow of $354 million in 3Q 2020 while operating cash flow for 9M 20 was $994 million, thus providing us ample liquidity of $2.5 billion in cash and cash equivalents as well as unused credit lines.
  • Project Olympus (a business transformation and cost excellence project) delivered a savings of $21 million in 3Q 20 and $64 million in 9M 20. Our full year budget of $76 million in savings is expected to exceed targets by more than 15 percent in 2020 with relentless focus on multiple initiatives.

Outlook:

  • IVL has embarked in 2020 on a transformation journey that will enhance its business excellence and aims to deliver $582 million of additional, sustainable, EBITDA by 2023. This target has been expanded from the $352 million announced at our Capital Markets Day at the start of 2020 after a rigorous analysis process and the support of relevant domain experts to validate our operating teams’ initiatives in all of our three major business segments globally.
  • We are making progress towards our ESG targets and our pledge to recycle 750,000 tonnes of post-consumer PET, with a commitment of $1.5 billion towards our ESG and recycling infrastructure globally by 2025.
  • We have strengthened our leadership and recruited both digital and Lean Six Sigma function leaders to support technological adaption across IVL.
  • IVL is well on its way to implement S4 Hana (ERP) across our global operations and introduced a Global Business Service (GBS) office which will hallmark the delivery of our transformation journey.
  • We have organized IVL leadership in a clear manner to leverage and deliver performance. Now in DK Agarwal, we have one CEO responsible for all our three reporting segments and we have moved all enabling functions under our chief strategy officer. Meanwhile, our CFO and chief human resources officer are making appropriate governance structures for organizational effectiveness.

Posted November 9, 2020

Source: Indorama Ventures

Archroma Releases Its Third Sustainability Report

REINACH, Switzerland — November 9, 2020 — Archroma, a global supplier of specialty chemicals towards sustainable solutions, today announced the release of its third Sustainability Report.

Prepared again in accordance with the Global Reporting Initiative (GRI) standards, and covering Fiscal Year 2019, the report outlines the company’s progress on its priority sustainability topics, such as human health and environmental safety, resource efficiency, sustainable sourcing and product stewardship, as well as diversity & inclusion, and talent management.

All activities described in the report support the three pillars of “The Archroma Way to a Sustainable World: Safe, efficient, enhanced. It’s our nature. This approach is the company’s guiding light in challenging the status quo to making its operations and its value chains sustainable.

“As our industries navigate through the COVID-19 pandemic, the temptation for some will be to push back on the urgent need to address the climate crisis. We cannot allow that. Because after all, it’s our nature”, Heike van de Kerkhof, CEO of Archroma, comments.

The report can be downloaded at: https://www.archroma.com/sustainability.

Posted November 9, 2020

Source: Archroma

Elections To The International Textile Manufacturers Federation Board For The Term 2020-2022: Mr. Ruizhe Sun (China) Elected ITMF President

ZURICH — November 9, 2020 — On October 22, 2020 during the Hybrid ITMF Annual Conference 2020 of the International Textile Manufacturers Federation (ITMF), the Committee of Management of the Federation elected the members of the Board for the term 2020-2022.

Ruizhe Sun, president of the China National Textile and Apparel Council (CNTAC), was unanimously elected as the new president of the Federation.

K.V. Srinivasan, India; and Juan Parès, Spain, were elected as vice presidents of the Federation.

Ernesto Maurer, Switzerland, was elected as the new treasurer.

Loek de Vries, The Netherlands; Michelle Tjokrosaputro, Indonesia; and Mohammad Kassem, Egypt, were re-elected as board members.

As new board members, the Committee of Management elected Mustafa Denizer, Turkey; Uday Gill, Thailand/Indonesia; Salman Ispahani, Bangladesh; Suchita Jain Oswal, India; Taejin Kang, Korea Rep.; and Yingxin Xu, China.

Rafael Cervone, Brazil; John Cheh, Hong Kong; Andrew Macdonald, Brazil; and Muharrem Kayhan, Turkey; were co-opted as board members.

Kihak Sung, Korea Rep., was elected Honorary Life Member of the Federation in recognition of his outstanding contribution to the Federation as vice president (2016-2018) and president of ITMF (2018-2020).

Posted November 9, 2020

Source: International Textile Manufacturers Federation (ITMF)

Duvaltex Launches Its New Ocean Waste CLEAN IMPACT TEXTILES™Technology In Partnership With Steelcase

QUEBEC CITY — November 9, 2020 — Duvaltex and Steelcase are introducing Intersection, an exclusive Steelcase screen and panel fabric. Co-created by Duvaltex and Steelcase, in partnership with SEAQUAL® initiative, which turns marine plastic waste into recycled products with full traceability, Intersection is the first Ocean Waste CLEAN IMPACT TEXTILES™. Offered in 17 colors, Intersection is available throughout the Steelcase surface materials distribution network and applicable on over 50 Steelcase screen and panel product lines.

Every year, several million metric tons of plastics enter our oceans. By partnering with Seaqual initiative, Ocean Waste Clean Impact Textiles transform ocean waste into amazing textiles, contributing to the collective effort to clean our oceans and reduce plastic pollution worldwide.

All Ocean Waste Clean Impact Textiles are made with post-consumer recycled polyester that include Seaqual Yarn made from plastic ocean waste. Seaqual initiative collaborates with fishermen, NGO’s, and several other stakeholders to collect waste and clean our oceans. The waste collected is subsequently categorized, separated, and cleaned. Plastics are processed and upcycled into polymer to be used as yarn, which is then transformed to create the industry-leading sustainable Ocean Waste Clean Impact Textiles. For every pound of textile produced, up to half a pound of waste is removed from our oceans.

Duvaltex CLEAN IMPACT TEXTILES™

Duvaltex has honed extensive expertise to become a leading manufacturer of sustainable textiles for over 20 years and has achieved several industry firsts in terms of sustainability. “As a sustainability pioneer, we have a responsibility to inspire our industry to preserve our planet for future generations.” said Alain Duval, CEO of Duvaltex.

Ocean Waste Clean Impact Textiles is the second advanced technology released under Duvaltex’s Clean Impact Textiles sustainability brand umbrella, following the ground-breaking NeoCon Award-winning 100-percent fully biodegradable textile in 2019. “Our aim with Clean Impact Textiles is to reduce the environmental impact of textile manufacturing as much as possible by innovating the way products are sourced, manufactured and disposed of at the end of their useful life. Every action with Clean Impact Textiles is designed with sustainability in mind,” Duval said.

Presenting Intersection

Intersection is the first Ocean Waste Clean Impact Textiles product to be launched and is the result of a collaboration between Duvaltex and Steelcase. Partnering with Seaqual initiative, Duvaltex and Steelcase worked together to transform ocean waste plastics into beautiful textiles. “When Duvaltex came to us, they had this incredibly beautiful fabric that not only met all of our technical needs as it relates to application and screen design, but also had this incredibly important environmental story,” said Kari Miller, product manager for Global Surface Materials at Steelcase.

Like every Ocean Waste CLEAN IMPACT TEXTILES™ developed, Intersection is designed and manufactured for recyclability, allowing designers to design without compromise.

Beyond its positive environmental impact, Intersection is designed with a small crisscross pattern woven alongside a subtle pucker, providing a unique three dimensional visual. Boasting a fresh and contemporary color palette, Intersection comes in 17 beautiful colors. Now available in North America, it can be applied to a wide range of screens and panels, including VIA, Mackinac and Steelcase Flex.

A rich history of collaboration

Duvaltex and Steelcase share a strong commitment to sustainability and environmentally consciousness. This has led Duvaltex and Steelcase to forge a rich history of collaboration over a span of 25 years. This includes a Cradle to Cradle™ product in 2005 and a Closed Loop program in 2011, as well as the more recent New Black textile collection, created entirely from Steelcase scrap fabric.

Posted November 9, 2020

Source: Duvaltex

Polartec Announces The Winners Of Its Annual Apex Design Awards Celebrating The Finest Products Made From Polartec Fabric Technologies

ANDOVER, Mass. — November 9, 2020 — Polartec announced the winners of its 2020 Polartec Apex Design Awards, an annual design award program celebrating the finest products made from Polartec fabric technologies. The winning products were selected based on skilled and creative uses of Polartec.

The winners are:

66 North Sudureyri NeoShell Coat — cut from soft, stretchy, durable Polartec® NeoShell®, the most breathable waterproof fabric technology. The fabric was chosen because it provides full waterproof protection with outstanding breathability that prevents moisture build-up inside. The coat comes with two front pockets and a two-colored belt which can be used to cinch the waist or worn loose.

Burton women’s [ak] Baker Hi-Loft Pants — made from a hybrid construction of ultra soft and compressible Polartec High Loft® fleece, and stretchy, sweat-wicking, contouring Polartec Power Stretch® Pro™ fabric, this undergarment is designed for the coldest days. High Loft is ultra soft and full of stretch while keeping a low profile for a seriously warm, comfy fit during cold, stormy riding.

Griffin Reversible Bomber Jacket — made from soft, warm Polartec Thermal Pro® fleece with a sherpa aesthetic, this reversible bomber jacket features mesh front pockets and Woolrich Buffalo Check wool. The particular Thermal Pro fleece was selected for its richness in texture, warmth without weight, and reversibility.

Gulch Inceptor Insulated Vest — made from highly breathable, fast-drying and compressible Polartec Alpha® Direct active insulation, the Inceptor is a hunting vest designed to provide optimal thermoregulation, eliminating the need to shed or add layers during start-stop activity.

Indygena Pecora — made of Polartec Shearling fleece for its warmth and breathable comfort, providing efficiency and versatility in cold conditions, this is a pullover designed to be worn in any circumstances.

Karpos Miage Jacket — primarily made with 90g Polartec Alpha Direct active insulation, which Karpos has printed on — and Power Stretch Hardface fleece on the under arms, side panels and hem for improved fit — the Miage is designed to incorporate the best technology, research, fabrics, fit and performance for ski mountaineering.

K-Way Cloto Skirt/Atropo Pant/Claude Jacket/Andersen Pant/Hans Crew Neck — made of Polartec Thermal Pro fleece to transform classic garments with a technologically advanced, high performance fabric, the new K-Way R&D collection is technology meets haute couture in a limited edition of unique pieces, handcrafted in Italy.

October’s Very Own OVO Polartec Power Stretch Zip Hoodie/Pant/Balaclava — made of warm, comfortable Polartec Power Stretch Pro fleece with four-way stretch and abrasion resistance, these pieces can be paired together for a completely cozy suit, or worn separately for added temperature regulation as needed.

prAna men’s Tri Thermal Threads Overshirt — made of Polartec Thermal Pro, this overshirt uses the advanced fleece technology to deliver a healthy dose of warmth, without the weight. On the outside of the fabric, densely knitted yarn creates a classic heather sweater look, while inside a soft velour finish adds extra coziness.

Santini Official UCI Rainbow Casual Jacket — as official producer of UCI race-wear and merchandise, Santini chose to use next-generation Polartec Power Air™ fabric to create a premium fleece product that was both performance oriented and ecologically friendly. Power Air provides extraordinary warmth and comfort with recycled yarn which is knit in an award-winning construction that dramatically reduces the shedding of microfibers.

Snow Peak Flexible Insulated Cardigan/Pullover/Shirt/Pants — made with Polartec Alpha insulation for lightweight, breathable warmth, these are the most iconic Snow Peak apparel items. Taking advantage of the flexibility of Alpha, these minimal designs are designed for maximum comfort.

Supreme Polartec® Overalls — Supreme chose Polartec 200 Series fleece for its functionality, employing it in a classic overall silhouette. Resilient, lightweight and warm, Polartec classic fleece is the original technical fleece, trusted for nearly 40 years.

Xenith Under the Lights Polartec® Delta™ Short Sleeve — made with Polartec Delta™ cooling fabric — which uses a unique composition and texture to disperse perspiration, reduce cling and increase airflow for evaporative cooling — this is an ultimate top for grueling workouts where sweat is inevitable and there is no room for distractions.

Every winner is an embodiment of Polartec fabric innovation and design inspiration, celebrating the science of fabric and the art of product design. The winners are being recognized with a Malden trophy and contribution of funds to promote their winning designs.

Posted November 9, 2020

Source: Polartec

Imports Set New “Peak Season” Record As Retailers Prepare For Holidays

WASHINGTON — November 9, 2020 — Imports likely saw their busiest “peak season” on record this summer and fall as retailers replenished inventories and stocked up for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

“Peak season is the Superbowl of the supply chain world each year as retailers make sure they have enough merchandise on hand to satisfy demand during the holidays, and this is the busiest we’ve ever seen,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Part of this surge was fueled by restocking after retail sales rebounded this summer and part could be making sure there aren’t shortages if we see panic buying again. The economic challenges of the pandemic aren’t over yet, but this clearly shows how an industry that has been under stress is fighting back in a positive way. Retailers don’t import merchandise they don’t think they can sell, so this is a good sign for the holiday season.”

“As we near the end of a difficult year in terms of health, trade and politics, we have witnessed record-breaking statistics that have been virtually unpredictable,” Hackett Associates Founder Ben Hackett said. “Imports hit all-time highs this summer and online shopping did the same. Whether similar patterns will continue in the coming months will be influenced to a large extent by the coronavirus pandemic and whether it will be brought under control by the arrival of expected vaccines next year.”

U.S. ports covered by Global Port Tracker handled an estimated 8.1 million Twenty-Foot Equivalent Units from July through October, the peak shipping season when retailers rush to bring in merchandise for the winter holidays each year. While subject to revision once October numbers become final, that would be an increase of 6.1 percent over last year and would beat the previous record of 7.7 million TEU set in 2018.

The peak season record includes a record 2.11 million TEU imported in September, the latest month for which after-the-fact numbers are available. That was a 12.5 per year-over-year increase and 0.1 percent higher than August’s previous record of 2.1 million TEU for the largest number of containers imported in a single month since NRF began tracking imports in 2002.

October imports were estimated at 2 million TEU, up 6.5 percent year-over-year and the fourth-highest month on record. With most holiday merchandise already in the country, November is forecast at 1.7 million TEU, up 0.2 percent year-over-year, and December is forecast at 1.58 million TEU, down 8.2 percent from last year.

Despite the new monthly records, 2020 is expected to total 20.9 million TEU, a drop of 3.4 percent from last year and the lowest annual total since 20.5 million TEU in 2017. The first half of 2020 totaled 9.5 million TEU, down 10.1 percent from last year.

January 2021 is forecast at 1.75 million TEU, down 3.7 percent from January 2020; February at 1.52 million TEU, up 0.9 percent year-over-year, and March at 1.59 million TEU, up 15.7 percent from March 2020 – the month the pandemic first fully hit the United States while factories in China remained closed by the pandemic there.

NRF is awaiting additional economic data before releasing its annual holiday spending forecast. But consumers surveyed for NRF by Prosper Insights & Analytics plan to spend an average $997.79, down $50 from 2019 as they focus on gifts rather than purchases for themselves. NRF is urging consumers to shop safe and shop early to avoid overcrowding stores and to take advantage of early holiday discounts.

Global Port Tracker, which is produced for NRF by the consulting firm Hackett Associates, provides historical data and forecasts for the U.S. ports of Los Angeles/Long Beach, Oakland, Seattle and Tacoma on the West Coast; New York/New Jersey, Port of Virginia, Charleston, Savannah, Port Everglades, Miami and Jacksonville on the East Coast, and Houston on the Gulf Coast. The report is free to NRF retail members, and subscription information is available at NRF.com/PortTracker.

Posted November 9, 2020

Source: The National Retail Federation (NRF)

The United States Fashion Industry Association (USFIA) Statement on 2020 Election

WASHINGTON — November 11, 2020 — On behalf of the U.S. fashion industry, we applaud the historic number of Americans who voted in the 2020 election. Many brands and retailers supported get-out-the-vote initiatives, and gave our employees time off to vote. We are pleased that the turnout on November 3rd reflects our vibrant American democracy.

USFIA congratulates President-elect Joe Biden on his election as the 46th President of the United States. We also congratulate Kamala Harris on her glass-ceiling-shattering election as the first woman, Black woman and Indian-American to be the Vice President-elect. We look forward to working with the incoming Biden Administration and the Congress to find solutions to the challenges before us — especially solutions to stop COVID-19 and to support the economy. We believe that a fresh approach to trade policy and to American participation in global alliances will support the recovery today and for the future.

Posted November 9, 2020

Source: The United States Fashion Industry Association (USFIA)

Introducing SleepCharge: A New Sleep Technology Designed For High Performance Rest And Recovery

NEW YORK CITY — November 15, 2020 — SleepCharge powered by Nanobionic, a new brand focused on enhancing sleep performance, launches November 15 exclusively in Walmart stores nationwide and on Walmart.com. SleepCharge uses Nanbionic’s patented far-infrared technology in its fabric applications to enhance and recycle the body’s energy, in a scientifically proven way, that ultimately stimulates local blood flow, and as characterized by the FDA, provides for an overall general wellness of being. As such, SleepCharge performance bedding offers better sleep, enhanced recovery and an overall more efficient sleep cycle. The launch collection includes a mattress protector, pillow protector, mattress pad, sheet set and comforter. Additional product launches will roll out in the coming months.

What is Nanobionic?

Nanobionic is a soft coating made of far infrared emitting minerals that can be applied to any type of surface, such as clothing, bedding, foam, leather or textile product. The minerals in the coating get activated with body heat — energy — emitted by your body and return back this enhanced energy to make you a hybrid engine — a real source of usable and recyclable energy. Returned energy increases local blood flow allowing your body to enhance recovery, improve athletic performance and promote a more restful sleep. Nanobionic is also the recipient of NASA’s coveted iTech award for best product innovation

How does Nanobionic work within SleepCharge’s product range?

Far infrared is more emissive than infrared, offering 90-percent efficacy in restoring energy. Given the nature of the blend of nanobionic minerals, the technology is highly emissive, meaning it works up to three inches away from your body. This means everything from mattress toppers to sheets and pillows will provide health & wellness benefits while asleep.

How are the products made?

Nanobionic is made through several steps. First, we ethnically source the most far infrared emitting minerals available to create the proprietary formula. After the formula is isolated and the minerals are mixed, everything is then melted into a liquid form. Finally, the nanobionic liquid mineral compound is applied directly to the fabrics and textiles from which we create SleepCharge products.

Does the power of the technology fade over time, use and washing?

Nanobionic is near permanent, with very little loss of efficacy after loads of washes, making SleepCharge a long-lasting solution to improving healthy sleep.

SleepCharge will launch in all Walmart stores nationwide, and on Walmart.com on November 15, 2020.

Posted November 9, 2020

Source: Nanobionic

Hong Kong Polytechnic University Scholar Receives Guanghua Engineering Science And Technology Award

HONG KONG  — November 8, 2020 — Professor Xiao-ming TAO, Chair Professor of Textile Technology and Director of the Research Centre for Smart Wearable Technology, Institute of Textiles and Clothing, The Hong Kong Polytechnic University (PolyU), was honored with the 13th Guanghua Engineering Science and Technology Award by the Chinese Academy of Engineering (CAE). The award presentation ceremony was held in Beijing November 8.

The biennial award is China’s most prestigious award for Chinese engineers and scientists who have made significant contributions to engineering technology and engineering management. Since the establishment of the award in 1996, more than 250 individuals from across the spectrum of engineering disciplines have been recognized for their outstanding achievements. This year, 41 awardees were selected from 296 candidates and Professor Tao is one of the three award recipients from Hong Kong. All the three Hong Kong awardees were nominated by the Hong Kong Academy of Engineering Sciences (HKAES).

Professor TAO is internationally recognized for her leading research work on intelligent fibrous materials, nanotechnology, photonic fibers and fabrics, flexible electronic and photonic devices, smart washable technology, yarn manufacturing and textile composites. She has conducted numerous research projects and published more than 800 scientific publications including over 300 international journal papers and seven research monographs.

“I feel proud and deeply honored to receive the national award. We extend our heartfelt thanks to CAE for recognizing our research efforts and to HKAES for its nomination; this is, indeed, a great encouragement to us. Alongside rapid technological development, we are also seeing artificial intelligence, industrial automation, and digitalization as major trends which are enormously transforming the mode of operation of traditional manufacturing industries,” Professor TAO said. “We, as scientists and a close partner of the industry, will continue to leverage our strengths in research and development as well as the world’s leading technologies to develop innovative solutions and help foster the development of the industry for the benefit of the community as a whole,” she added.

Professor TAO has led a team of prolific inventors of new technologies and obtained 34 international and national patents. Over ten of the invented technologies have been licensed to companies worldwide for industrial applications. One of them is the Nu-torque single spun yarn technology that has been used by 11 yarn manufacturing companies for producing new textile and apparel products.

Professor TAO was the Head of the Institute of Textiles and Clothing of PolyU from 2003 to 2011. Under her guidance, the Institute became one of the leading fashion and textile departments in the world. Working closely with industry, Professor TAO successfully led the PolyU team to win a grant of over HK$330 million to host The Hong Kong Research Institute of Textiles and Apparel. She also founded the Nanotechnology Centre for Functional and Intelligent Textiles and Apparel in 2004 and the Research Centre for Smart Wearable Technology in 2018.

Posted November 8, 2020

Source: Hong Kong Polytechnic University

H&M’S New Heat Up Tech With THERMOLITE® Is The Secret To Smart Seasonal Style

STOCKHOLM — November 5, 2020 — This season H&M introduces pieces that bring the smart solution to staying warm with great personal style. Heat Up Tech is a collection of men’s layering pieces using THERMOLITE®, a new lightweight technology for warmth without the bulk. It’s about the perfect pile and fleece designs for an urban street style look, as well as thermals as a base layer all season long. Heat Up Tech with Thermolite will drop at H&M stores worldwide, as well as at hm.com, on November 12.

“Innovation is at the heart of what we do with menswear at H&M. Heat Up Tech with Thermolite uses new technology for true functionality as well as that essential utilitarian look. These pieces will become the foundation of your cold weather wardrobe, whatever your personal style,” said Ross Lydon, head of Menswear Design at H&M

This season’s layered look is more than just about style: it’s also about the smartest ways to keep warm whatever the day brings. H&M has created Heat Up Tech with Thermolite to introduce the latest heat-retaining technologies to the everyday wardrobe.

Thermolite uses hollow fibers that trap warm air, creating an insulating layer. Those hollow fibers are crucial, resulting in a lightweight fabric that’s cuts out all the bulk. For H&M’s design team, it’s a chance to make the sharpest functional pieces that will become the foundation layer of the winter look.

Pile is a key texture for the season, like the pile zip-up vest in either off-white or olive green with a nylon chest pocket and neck trim. It’s a versatile piece that adds contrast and warmth to winter layering. There’s also a pile zip-up jacket, as well as a pile half-zip jacket, all with a turtleneck to help keep out the cold.

Fleece jackets and half-zip sweaters bring streamlined warmth and protection, while tapered leg joggers in cotton and Thermolite have toggles at the ankle to further keep in the warmth. Meanwhile thermal crewneck T-shirts, both long and short sleeve, and long johns are the essential base layer pieces at the core of the winter wardrobe.

Heat Up Tech will drop at H&M stores worldwide, as well as at hm.com, on November 12.

Posted November 6, 2020

Source: H & M Hennes & Mauritz AB

Sponsors