Financial Results

Reported EBITDA at Indorama Ventures slips 68% in Q2

Textile Insights August 12, 2023

Reported EBITDA at Indorama Ventures slipped 68 percent year on year to US $321 million in the second quarter of 2023, but rose 7 percent over the earlier quarter. The Thailand headquartered company recorded revenues of $4 billion in the reporting quarter, again down 27 percent from a year ago

Technical Textile & Nonwoven

Andritz Showing Novel Nonwoven Solutions At Techtextil India

Textile Insights August 12, 2023

Germany nonwovens technologies supplier Andritz will be showing its innovative nonwovens production and textile solutions at Techtextil India in Booth K12, Pavilion 2 & 3. The stall will highlight technologies for wipes, textile recycling, needlepunch, and textile calendering. The company will focus on its comprehensive technologies for all types of wipes: Airlace,

Machinery

Optima 3D Delivers ITMA Display Loom To US University

Textile Insights August 12, 2023

Optima 3D is delivering the special weaving technology it demonstrated at ITMA 2023 for installation at the University of Maine’s Advanced Structures and Composites Center (ASCC) in USA. The 3D weaving system consists of an Optima 3D Series 600 shuttle weaving machine with an integrated 2,688-hook Stäubli SX jacquard and harness. “It is also complemented […]

Export

Bangla Garment Exports Get UK Duty Free Status Post LDC

Textile Insights August 11, 2023

Bangladesh garment exports to the UK will continue to receive duty free status posts for a three year period following its transition out of the Least Developed Country (LDC) status in 2026. The South Asian country will be eligible to export 92 percent of tariff line products duty-free, which also includes apparels, when accessing the […]

Financial Results

Oerlikon Group Sales Drop 4.4% In Q2

Textile Insights August 11, 2023

In the second quarter ending June 30, 2023, Oerlikon Group sales dropped slightly by 4.4 percent year on year, to CHF 702 million, mainly driven by postponements in Polymer Processing Solutions’ filament orders. However, the Switzerland based group’s sales rose 3.6 percent from a year ago quarter, including 5.9 percent from Riri at constant exchange […]

Corporates

Indorama Almost Triples Brazilian PET Recycling Facility

Textile Insights August 11, 2023

Indorama Ventures which is one of the biggest producers of recycled Polyethylene Terephthalate (PET) resin in the world, has almost tripled its recycling capacity at its Brazil facility The capacity of the recycling facility has been increased from 9,000 tons to 25,000 tons per year of PET made from post-consumer recycled (PET-PCR) material. The project […]

Apparel, Fashion, Retail

Bangladesh Now Has 200 LEED Certified Garment Units

Textile Insights August 11, 2023

The Bangladesh garment industry reached the milestone of having 200 LEED (Leadership in Energy and Environmental Design) certified green factories. The LEED certification given by the US Green Building Council (USGBC) is internationally recognised as a symbol of excellence in sustainable building practices. In 2022, a total of 30 garment factories received LEED

Cotton

Textiles Ministry Defers QCO On Cotton By 90 days

Textile Insights August 11, 2023

The Ministry of Textiles issued a notification in which the government has postponed the implementation of the Quality Control Order (QCO) on cotton for three months. The QCO which applies to ginned cotton and unprocessed or also called kapas, will now be implemented from November 27, as stakeholders in the cotton and textile industry had […]

Machinery

Monforts Bags Significant Number Of Orders From South America

Textile Insights August 10, 2023

German textile stenters manufacturer Monforts said it has secured a significant number of major orders from textile manufacturers in Central and South America recently. Among new orders are those for three Montex stenters delivered to the AustralTex Group in Argentina and a further Montex range to denim manufacturer CIT in Brazil. Guatemala’s Global Textiles placed […]

Event

Bluesign Unveils Sustainable ‘Impact’ Service For India

Textile Insights August 10, 2023

Bluesign has unveiled Impact, a service which is tailored for the Indian textile industry. This was announced at Bluesign seminars themed ‘Sustainable Textile Manufacturing – the bluesign Way,’ held in Bengaluru & Tiruppur. According to Bluesign, amid the evolving global textile landscape, India is poised to transcend its reputation as a price-sensitive market and