Industry

Messe Frankfurt Estimates 2023 Sales Touching €600 million

Textile Insights July 11, 2023

International trade fair organiser Messe Frankfurt expects current year sales to touch €600 million, if everything continues in positive vein. “We expect another positive operating earnings performance in 2023. And we will be on track for an estimated €600 million in sales,” Wolfgang Marzin,

Industry

Rieter Selling No Longer Required Land In Winterthur

Textile Insights July 10, 2023

Switzerland headquartered and spinning machinery manufacturer Rieter AG, is selling the land, that is no longer required for operations at its Klosterstrasse plant in Winterthur, to Allreal also from Switzerland. Allreal will take over the land covering a total area of around 75,000 square metres at an agreed price of CHF 96 million, with the […]

Industry

ABB India Contributes To Growth Of TN Textile & Garment Sector

Textile Insights July 8, 2023

ABB India, a technology company said it is actively contributing to the sustainable growth of Tamil Nadu and that its energy-efficient motor and drive solutions are playing a pivotal role in driving the transition towards a greener and more sustainable future. In the textile industry, ABB has supplied over 3,000 energy-efficient motors and drives to […]

Industry

170 Tamil Nadu Open-End Spinning Mills Stop Production

Textile Insights July 6, 2023

Around 170 open-end spinning mills in Tamil Nadu stopped production by going on an indefinite strike citing various reasons including hike in power tariffs and increase in waste yarn prices, which have led to hike in production costs. “Open-end spinning mills are dependent on waste cotton from spinning mills and fabric waste from knitwear companies. […]

Industry

India Actively Considering CEPAs & FTAs – Piyush Goyal

Textile Insights June 27, 2023

Piyush Goyal, Union Minister of Textiles informed that India is actively considering the possibility of Comprehensive Economic Partnership Agreements (CEPAs) and Free Trade Agreements (FTAs) with various countries. He said that these agreements aim to enhance the market size and facilitate exporters and by entering into these agreements, India aims to tap into new markets,

Industry

Unspun Secures Funding For 3D Sustainable Weaving Technology

Textile Insights June 27, 2023

California and USA based textile and garment innovator Unspun has raised US $14 million in a first round of funding. The funding has been raised to particularly support Vega, its 3D sustainable weaving technology. The funding led by Lowercarbon Capital will help expanding Unspun’s production facilities for the 3D technology. According to Unspun, Vega technology […]

Industry

Uzbek Textile Company Joins ITMF As Corporate Member

Textile Insights June 22, 2023

Uzbekistan based Global Textile, which is a vertically integrated textile company, producing cotton, yarns and dyed knitted fabrics has joined International Textile Machinery Federation (ITMF) as a Corporate Member. Global Textile which started in 2018 has factories located near the largest Uzbekistan transportation hubs of Tashkent and Fergana. “The decision of Global

Industry

The Yarn Bazaar raises Rs 150 million in First Funding Round

Textile Insights June 21, 2023

The Yarn Bazaar, an online B2B managed marketplace, providing a one-stop solution for all yarn-related requirements, has raised Rs 150 million in a Pre-Series A Round. The investment was led by the Rajiv Dadlani Group and Equanimity Ventures and also saw participation from reputed Family Offices and HNI investors. The funding will primarily be used […]

Industry

Uzbek Textile Sector Implements Better Work Program

Textile Insights June 19, 2023

The Better Work program is being introduced in Uzbekistan with an aim to improve working conditions and competitiveness in the textile and garment industry of the country. A Memorandum of Understanding (MoU) was signed by the IFC, ILO, Uzbekistan Government, employers, and workers’ organisations, outlining the program’s terms. Better Work will focus on

Industry

Tool For Spinners To Evaluate Performance Vis-À-Vis Others

Textile Insights June 17, 2023

The Cotton Council International (CCI) has launched an essential new benchmarking tool – the COTTON USA Mill Performance Index for spinning mills, which allows mills to evaluate their performance vis-à-vis others and definitively show the positive impact of US cotton. The COTTON USA Mill Performance Index anonymously collects data from participating spinning mills and