#Man-Made Fibers

2025-12-11

Ascend Performance Materials secures court approval for restructuring and appoints new CEO

Ascend Performance Materials has reached a major milestone in its Chapter 11 process: the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the company’s Plan of Reorganization. Ascend expects to emerge from Chapter 11 by year’s end with a significantly improved capital structure. In parallel with the restructuring progress, Ascend announced a leadership change.

Patrick Schumacher has been appointed Chief Executive Officer, succeeding Phil McDivitt. McDivitt, who has led Ascend since 2017 and oversaw the company's global expansion, will remain as a special advisor to ensure a smooth transition.

CEO Schumacher brings more than 25 years of experience in chemicals and industrials, including senior roles at Olin Corporation and Celanese. He emphasized his commitment to driving Ascend’s operational and financial resurgence, supported by the company’s resilient workforce.

McDivitt highlighted the momentum built in recent years and expressed confidence that Schumacher is the right leader as Ascend enters its next phase.

Ascend continues to operate normally as it completes final steps toward emergence and refocuses on profitable growth in high-performance materials.

Rieter sees Barmag integration on track as orders and sales rise

The first half of 2026 was shaped by the successful completion of the largest acquisition in Rieter’s history. The Man-Made Fiber Division enables entry into the growth segment of man-made fibers and sustainably strengthens Rieter’s market position in the Asia region. The expanded Group is now the world’s leading system supplier for the processing of natural and man-made fibers. In the first half of the year, initial cost savings in material costs and operating expenses have already been realized. The targeted synergies are expected to amount to at least CHF 20 million by the end of the 2028 financial year. Due to the completion of the acquisition on February 2, 2026, the first half of the year for the Man-Made Fiber Division only amounts to five months.

Barmag Fuzhou Customer Day concludes successfully, boosting high-quality chemical fiber growth in Fujian & Guangdong

Barmag hosted its Customer Day themed “A New Era. Powered by Innovation.” in Fuzhou on June 28, welcoming nearly one hundred invited customers from Fujian and Guangdong provinces. Georg Stausberg, CEO of Barmag Group, attended along-side the sales and R&D expert China team to jointly present integrated solutions covering the entire man-made fiber value chain.

AMSilk and Ajinomoto Foods Europe expand partnership to enable industrial-scale production of silk proteins

AMSilk GmbH (“AMSilk”), a global leader leader in biotech produced silk materials, today announced a significant expansion of its partnership with Ajinomoto Foods Europe (AFE), marking a key step in scaling the industrial production of its silk proteins. Building on the collaboration first established in 2023, the two companies have now entered into a long-term manufacturing and supply agreement, enabling the transition from industrial validation to dedicated, large-scale production.

EU ban on destroying unsold clothing and footwear now in force

The European Union's ban on the destruction of unsold clothing, clothing accessories and footwear has entered into force. Since July 19, 2026, large companies across the EU have been prohibited from destroying unsold textile products, while medium-sized companies will be required to comply with the same rules from 2030.

Eastman Naia™ brings its inside-out denim vision to Kingpins New York

Following its debut at Kingpins Amsterdam, Eastman Naia™ brings the next chapter of its denim story to Kingpins New York, taking place July 22–23. At Booth Green 7, Naia™ presents its denim proposition built around three complementary design directions: Performance Denim, Fashion Denim and Authentic Denim.