Business
Oerlikon shareholders approved all resolutions via the Independent Proxy
A total of 71.95% of share capital were represented at the 47. Annual General Meeting of Shareholders (AGM) via the authority that was granted by shareholders to the Independent Proxy, Proxy Voting Services GmbH. Shareholders did not attend the AGM in person in line with the ordinance from the Federal Council of Switzerland in the fight against the coronavirus.
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Global economic conditions deteriorated and Trevira had to face a decline in new orders in all segments of both business units (fibres and filaments). With a total turnover of approximately 208 million Euros in 2019, this result was below expectations.
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Within the context of the foundation stone laying ceremony held on Friday, November 15, 2019, the Lenzing Group officially launched construction work in Thailand right on schedule to build the world’s largest lyocell production plant.
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Freudenberg, the global technology group has signed a final agreement to acquire 100 percent of the shares of Filc. Filc is a producer of needle punch nonwoven textiles and laminated materials with a focus on the automotive and construction industry. Privately-owned Filc is headquartered in Škofja Loka, Slovenia, and operates two more production sites in Mengeš and Lendava, Slovenia, as well as a sales office in Dayton, OH, USA. Filc has roughly 360 employees. The transaction is subject to approval by the antitrust authorities.
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The cumulative order intake recorded by Rieter Group in the first nine months of 2019 of CHF 524.5 million (2018: CHF 749.8 million) was down by 30% compared to the prior-year period. In the third quarter of 2019, order intake was CHF 146.2 million (Q3 2018: CHF 238.0 million).
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Indorama Ventures acquires Californian PET recycler Green Fiber International
Indorama Ventures Public Company Limited (IVL), a global chemical manufacturer, has acquired Green Fiber International Inc. (GFI), a recycling company in Fontana, California, USA. The facility produces Recycled Polyethylene Terephthalate (rPET) Flakes. The acquisition has a combined capacity of 40,000 tonnes/annum.
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Freudenberg acquires technology from innovative startup
The Freudenberg global technology group has acquired the activities of the startup FRICTins GmbH from Wolnzach, Germany – including FRICTins’ innovative technology to increase the friction coefficient.
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Business
Itema S.p.A. announces the agreement for significant stakes in Schoch
Itema, multinational company part of Radici world of companies manufacturing advanced weaving solutions including weaving machines, spare parts and integrated services, announced on September 19th that the company has signed the agreement for the taking over of Schoch group.
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Lenzing solid in a significantly more challenging market environment
The Lenzing Group continued its solid business development in the first half of 2019. Despite a significantly more challenging market environment with historically low prices for standard viscose, Lenzing recorded a slight increase in revenue. The disciplined implementation of the sCore TEN strategy and the focus on specialty fibers continue to have a positive impact. Thanks to ongoing high demand for sustainably produced specialty fibers and positive currency effects, the impact of low standard viscose prices was largely offset in earnings.
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Further EvoQuench PA POY systems destined for China
Oerlikon Barmag recently signed contracts for two orders with a total of 120 spinning positions for manufacturing polyamide POY yarn with Chinese yarn manufacturers. What makes this so special is the fact that all positions will be equipped with the EvoQuench radial quenching system for polyamide.
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Business
SGL Carbon increases sales in the first half-year 2019
Against the backdrop of a slowing global economy, SGL Carbon held up well in the first half of 2019. Sales revenue grew by approximately 6 percent compared to the previous year to reach 562 million euros. Adjusted for a positive one-time effect of around 4 million euros in the prior year, Group recurring EBIT reached nearly 38 million euros, approximately 2 million euros below prior year’s first half.
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Oerlikon Manmade Fibers Segment increased order intake and sales in 2019
Resilient performance with Group sales growth in a challenging environment. Guidance adjusted due to lack of visibility of market recovery.
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Teijin completes acquisition of Renegade
Teijin Limited announced today that it has completed the acquisition of all the shares of Renegade Materials Corporation (Renegade), a leading North American supplier of highly heat-resistant thermoset prepreg for the aerospace industry. The acquisition was completed on August 1, Eastern Standard Time.
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