Business
Lenzing lays the foundation stone for world’s largest lyocell fibers plant
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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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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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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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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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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Business
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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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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Business
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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First half of 2019 characterized by low demand in the new machinery business
In the first half of 2019, Rieter posted an order intake of CHF 378.3 million (first half year 2018: CHF 511.8 million). This represents a decline of around 26% compared to the previous year period. As already reported, the main reason was low demand in the new machinery business (Business Group Machines & Systems: -34%). Rieter understands that market share remained unchanged at the previous year’s level of around 30%. Order backlog as at June 30, 2019 was CHF 295 million (December 31, 2018: CHF 325 million).
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STOLL groundbreaking ceremony
STOLL, leading manufacturer of flat knitting machinery and one of the largest Reutlingen-based companies, will relocate the company headquarters from Stollweg 1, Reutlingen, to the industrial area of Reutlingen-Betzingen. The planned construction project is divided into two phases: in addition to the existing production buildings a development and customer center will be built.
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