Business
KARL MAYER: Transformation focused on the future
The global textile markets are facing significant structural changes and a continued economic downturn. KARL MAYER is actively meeting these challenges and realigning itself - with clear decisions that ensure long-term innovative strength and competitiveness. In future, the long-established family company will be focusing once again on its core business areas - warp knitting, warp preparation and technical textiles.
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Autoneum again achieves revenue growth in the 2024 financial year
In the 2024 financial year, the global automotive industry recorded a slight decline in production of –1.1%* compared to the previous year. In this weakening environment, Autoneum increased its consolidated revenue in Swiss francs by CHF 36.4 million to CHF 2 338.7 million. Excluding translational effects from the conversion of local currencies into Swiss francs, revenue rose by CHF 96.1 million or 4.2% to CHF 2 398.5 million, which is in the middle of the guidance of CHF 2.3 billion to CHF 2.5 billion.
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Americhem expands research and development capabilities with new laboratory facility in Silvassa, India
Americhem, Inc. has announced the opening of a new research and development center in Silvassa, India. This new facility, located at Olive Industrial Park, will enhance Americhem's ability to provide faster and more localized service to customers throughout India and Southeast Asia. The 4000-sf center will offer specialized testing services for masterbatch color development, particularly for melt spinning and textile manufacturing customers. Additionally, it will provide field and technical services to support customer-specific requirements.
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Rieter reports a strong increase in order intake for the 2024 financial year, with a sharp decline in sales
At CHF 725.5 million, order intake was significantly higher than in the same period of the previous year (2023: CHF 541.8 million), representing an increase of 34%. This was the fourth consecutive quarter of year-on-year growth. As expected, the Rieter Group ended financial year 2024 with lower sales than in the previous year. According to preliminary, unaudited figures, total sales amounted to CHF 859.1 million, which is around 39% down on the previous year (2023: CHF 1 418.6 million).
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adidas finishes successful year with better-than-expected fourth quarter results
adidas today announced preliminary results for the fourth quarter of 2024. In Q4, currency-neutral revenues increased 19%. In euro terms, the company’s revenues grew 24% to € 5,965 million (2023: € 4,812 million). Excluding Yeezy sales in both years, currency-neutral revenues increased 18%. The company’s gross margin increased 5.2 percentage points to 49.8% (2023: 44.6%). Operating profit reached € 57 million in the quarter (2023: operating loss of € 377 million).
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SGL Carbon decides to restructure its Carbon Fibers business unit
The Board of Management of SGL Carbon SE today decided, with the approval of the Supervisory Board, to restructure the loss-making Carbon Fibers business unit. SGL Carbon will significantly reduce the business activities of Carbon Fibers and focus on a profitable core. Individual solutions are being developed for all Carbon Fibers sites, including the closure of unprofitable sites.
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Industrial yarn producer sees growth potential in tire cord sector
The Chinese Junma Group has expanded its HMLS capacities by 20 positions, hence becoming one of the largest tire cord manufacturers in China. At present, the company has 64 positions of HMLS systems, all of which are from Oerlikon Barmag.
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Business
Strategic growth: RUDOLF signs MOU to acquire Proeza in Mexico
RUDOLF has announced the formal signing of a Memorandum of Understanding (MOU) to acquire Proeza in Mexico. This strategic acquisition marks a significant milestone for RUDOLF, enabling the company to leverage Proeza’s established strengths and extensive market presence.
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Oerlikon reports third quarter 2024 results, highlights strong execution in a challenging market landscape
In the third quarter of 2024, Oerlikon reported a stable operational Group EBITDA margin, despite challenging market conditions, thanks to a focus on pricing, cost management, and efficiency across both divisions. Group order intake saw a 4% year-over-year decline at constant FX, attributed to temporary market softness in Surface Solutions, while orders in Polymer Processing Solutions showed signs of stabilization.
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Itema completes the acquisition of Schoch & Co Srl
Itema, leading global provider of advanced weaving solutions, has completed the acquisition of Schoch, historic company active in the production and supply of accessories for textile machines, such as reeds, drop wires and other components. The operation completes the integration process already started in 2019 with the acquisition of 80% of the company's shares and, following the agreement reached with the heirs of the founding family, Itema acquires the remaining 20% and becomes the sole shareholder of the Italian subsidiary Schoch & Co Srl.
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Business
Rieter places bond for a total of CHF 65 Million
Rieter has today placed a bond of CHF 65 million with a term of five years and a coupon of 3.5%. The net proceeds of the issue will be used for general corporate purposes. “The bond also extends the maturity profile of our debt financing and increases the diversification of the investor base as well as our strategic flexibility,” said Oliver Streuli, Rieter Group CFO.
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Rieter's new machine business will decline dramatically in 2024
The market environment in the reporting period was characterized by restrained investment in new machinery in almost all regions except China. Demand for consumables, wear & tear and spare parts weakened slightly due to the low spinning mill capacity utilization. The noticeable downturn in consumer sentiment had a further dampening effect throughout the entire textile value chain.
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Autoneum presented corporate strategy and medium-term targets with planned revenue growth up to CHF 3 billion
At the Capital Markets Day held in Czechia, Autoneum presented its new “Level Up” strategy, outlining comprehensive initiatives for the Company’s future growth and revised medium-term targets. Autoneum targeted revenue growth up to CHF 3 billion and an EBIT margin of 6% to 8% over the business cycle. The event also featured presentations on sustainability and innovation, along with plant tours in Bor and Volduchy, offering valuable insights into Autoneum’s sustainable production processes.
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