#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.

B.I.G. Yarns achieves EcoVadis Platinum Rating, ranking among top 1% of companies worldwide

B.I.G. Yarns, the carpet yarn brand of B.I.G. and a leading manufacturer of polyamide (PA), polypropylene (PP) and polyester (PET) yarns for contract, automotive, and high-end residential applications, has been awarded the EcoVadis Platinum Medal, placing the company among the top 1% of more than 130.000 companies assessed globally.

Stability in volatile markets: Heimtextil 2026 launches with 3,000 exhibitors and design expertise from Patricia Urquiola

Heimtextil opens the new season with 3,000 exhibitors from 66 countries – maintaining stability while becoming even more international. The new hall layout increases visibility and connects supply and demand even more efficiently. At the opening, architect and designer Patricia Urquiola and Rosa Bertoli, Global Design Director of Wallpaper magazine, talk about AI, innovative materials and future-oriented design for modern living environments.

January 2026 marks Asahi Kasei’s restart of Bemberg production in restored sections of the Nobeoka facility

Beginning January 2026, production at the Asahi Kasei Nobeoka facility – Bemberg’s only production site – will gradually resume, marking a new chapter following the partial shutdown caused by the April 2022 incident. This progress is the result of significant investments and continuous work toreinforce safety measures, restore full operational capacity, and establish long- term stability.

MUNICH FABRIC START: Between Attitude and Sensuality

The future begins where we reimagine it. After seasons of restraint, Spring.Summer 27 marks a conscious counter-trend: optimism, sensuality, and creative freedom are replacing pragmatism and neutrality. Physical presence and individuality are regaining importance – as a response to uncertainty, exhaustion, and algorithmic predictability. The overarching theme of PLEASURE stands for fashion as an emotional space, as an expression of attitude and cultural reflection. Colours, surfaces, and materials become vehicles for self-confidence and joie de vivre.

organIQ seek: smart alternative to potassium permanganate

CHT Group announces new technical findings within its organIQ seek platform that significantly advance the transition toward permanganate-free denim bleaching. Through extensive industrial testing and application research, CHT confirms that organIQ seek can now be used with remarkable effectiveness as a substitute for potassium permanganate in spray bleach, while remaining aligned with sustainability expectations and cost realities in the European market. At the COLOMBIATEX in Medellín as well as at the Exintex in Puebla and the Kingpins Show in Amsterdam the CHT Group will present organIQ seek as an alternative to potassium permanganate.

PERFORMANCE DAYS: Focus topic shifts to the beginning of the value chain

Following the last Focus Topic in October 2025, which placed Textile-to-Textile Recycling at its core, PERFORMANCE DAYS continues to drive the conversation around circularity – this time with an expanded and more upstream perspective. The upcoming Focus Topic, “Textile to Textile: The Role of Collectors and Sorters,” presented during the spring edition on March 18–19, will spotlight one of the most essential yet often overlooked components of a functioning circular textile system: the efficient collection and sorting of post-consumer textiles.

Proven performance, optimised costs – the new RE 6 EL

Nowadays textile companies increasingly need to produce small production runs and respond to market changes with instantaneous pattern changes in order to operate profitably – meaning they require machines that offer maximum flexibility, reliability and cost efficiency. KARL MAYER understands the challenges of the market and is launching its new RE 6 EL. The Raschel machine offers the core strengths of the classic RSE 6 EL and essentially the same performance parameters, but has been further cost-optimised largely due to local production advantages. This makes the newcomer an efficiency champion in production, especially when it comes to frequent pattern changes.