#Yarn & Fiber

2022-05-12

SABIC announces first quarter results 2022

SABIC today reported its earnings for the first quarter of 2022. The company’s revenue for the first quarter reached SAR 52.64 billion ($ 14.04 billion), representing an increase of 3% compared to the previous quarter and a 40% increase year-on-year.

Net income during the first quarter totaled SAR 6.47 billion [$ 1.73 billion]. This was higher than the net income of SAR 4.97 billion [$ 1.32 billion] in the previous quarter and the net income of SAR 4.86 billion [$ 1.30 billion] in the first quarter of 2021.

Yousef Al-Benyan, SABIC Vice Chairman and CEO, said: “SABIC’s Q1 financial performance was robust, building further on last quarter’s good results. Our financial performance this quarter was driven by several factors, including higher product prices, our diversified portfolio and our strong, global presence.”

He added: “As we move forward, we will realize our global growth strategy by capturing competitive feedstock resources and expanding our global presence. In doing so, we will also commit to strengthening our financial position, maintaining our operational resilience, and meeting our ESG requirements.”

Among the major developments this quarter, SABIC announced the successful start-up of the Gulf Coast Growth Ventures (GCGV) world scale manufacturing facility in San Patricio County, Texas. It also completed its purchase of Clariant’s 50% share in Scientific Design, a leading catalysts producer and licensor of high-performance process technologies. This will unlock new growth potential for SABIC by strengthening and complementing the high-performance capabilities of its Specialties business.

During the first quarter of 2022, SABIC continued to drive greater sustainability and innovation across the global chemicals industry. The company recently introduced a new bio-based and ISSC+ certified LNP™ ELCRIN™ copolymer to help the consumer electronics industry achieve net-zero carbon emission goals.

In the reporting period, five innovative technologies created by SABIC were named among the winners of the annual Edison Awards, which honor the world’s most innovative new products, services and business leaders. The awards in four different categories reflects SABIC’s diverse range of innovative solutions.

SABIC’s commitment to adopting the highest Environmental, Social and Governance (ESG) Standards was also recognized during the first quarter of 2022, with the company claiming the “Best ESG” Award at the Saudi Capital Market Awards 2021.

Lenzing reports improved half-year results and advances strategic transformation

Despite a persistently challenging market environment in the first half of 2026, characterized by volatile energy and raw material prices, subdued global consumer demand and intensified competition from Asia, the Lenzing Group significantly improved its financial performance. Net result after tax more than doubled to EUR 35.6 million, compared with EUR 15.2 million in the first half of 2025. Free cash flow increased to EUR 45.8 million, while EBITDA amounted to EUR 239.2 million. Revenue totaled EUR 1.27 billion, compared with EUR 1.34 billion in the previous year.

BICO BCF yarn delivers impressive performance in field testing

In a joint development project with other partners, Barmag and Object Carpet have successfully tested BICO BCF yarn in the carpet manufacturing process. The results show that this innovative yarn technology offers significant performance advantages and opens up new possibilities for recycling-oriented carpet constructions.

Ministry of Industry Delegation visits NatureWorks’ second global manufacturing site at Nakhon Sawan Biocomplex

NatureWorks Asia Pacific Limited welcomed a high-level delegation led by Mr. Varawut Silpa-archa, Minister of Industry, to its manufacturing site at the Nakhon Sawan Biocomplex (NBC). The visit follows the successful inauguration of the site on April 29, 2026, and highlights the role of public-private collaboration in advancing Thailand’s sustainable industrial development and bioeconomy ambitions.

Sorona® and WGSN announce top bio-based material trends of 2027

Sorona®, the partially bio-based polymer from Covation Biomaterials (CovationBio™), and global trend forecasting authority WGSN today release the material trends shaping the textile industry through 2027 and beyond following a comprehensive examination of bio-based functional fiber applications and global data.

SHIMA SEIKI brings new flat knitting technologies to FEBRATEX 2026

Leading flat knitting solutions provider SHIMA SEIKI MFG., LTD. of Wakayama, Japan, together with its Brazilian representative BRASTEMA TECNOLOGIA TEXTIL LTDA., will exhibit at the Brazilian Textile Industry Fair (FEBRATEX 2026) this month. On display will be a roundup of SHIMA SEIKI computerized flat knitting technology, represented by WHOLEGARMENT® knitting machines, computerized flat knitting machines featuring a brand-new model with high productivity and excellent cost performance, a glove knitting machine and the latest digital solutions.

Trützschler’s latest spinning and card clothing innovations at CAITME 2026

From September 8 to 10, 2026, Trützschler will present its latest innovations in spinning and card clothing for state-of-the-art fiber processing at CAITME in Tashkent, Uzbekistan. Visitors are invited to meet the experts at Pavilion 2, Booth D50 and explore solutions designed to increase productivity, streamline processes, and ensure consistently high yarn quality. Key topics include the next-generation card TC 30i, the integrated draw frame IDF 3, the high-performance comber TCO 21XL as well as Trützschler Card Clothing’s new flat top series STEELTOP®.

Fashion for Good launches DW(O)R-X to navigate the emerging landscape of PFAS-free finishes

Fashion for Good announced the launch of Project DW(O)R-X, a collaborative initiative designed to benchmark PFAS alternative durable water- and oil-repellent (DW(O)R) chemistries. Responding to growing market demand for alternatives to PFAS‑based finishes, the project aims to generate reliable, comparable data that can support informed sourcing decisions and the assessment of emerging chemistries.