Corporates

Khandoker Rafiqul Islam Appointed New President Of BGMEA

Textile Insights August 25, 2024

The Bangladesh Garment Manufacturers and Exporters Association (BGMEA) has appointed Khandoker Rafiqul Islam as its new President following the resignation of S. M. Mannan (Kochi). Mannan stepped down due to his need for long-term medical treatment. An emergency meeting was held on August 24 at

Corporates

Oerlikon Neumag Takes Over Truetzschler BCF/IDY Service

Textile Insights August 25, 2024

Oerlikon Neumag, part of the Swiss Oerlikon Group’s Polymer Processing Solutions Division, will now handle customer services and spare parts for Truetzschler’s carpet yarn (BCF) and industrial yarn (IDY) systems. This transition follows a recent agreement with Truetzschler Group, which is shifting focus to spinning, card clothing and nonwovens. Oerlikon Neumag,

Corporates

Inflection Point Ventures Achieves 33% IRR With Full Exit From Fashor

Textile Insights August 25, 2024

Inflection Point Ventures (IPV), a leading angel platform with over Rs 720 crore invested in 200+ startups, has exited its investment in Fashor, securing a 33% IRR and 3.75X MoM return within 54 months. This success highlights IPV’s strategic prowess in nurturing startups and timing exits. Mitesh Shah, Co-Founder of IPV, stated, “Our data-driven exit […]

Corporates

BTRA And ARCI Sign MoU To Advance Carbon Fibre Development In India

Textile Insights August 25, 2024

BTRA and ARCI have signed a significant Memorandum of Understanding (MoU), marking a new chapter in India’s growth journey in carbon fibre development. This strategic partnership aims to drive innovation in sustainable mobility by leveraging the strengths of both organizations. Through this collaboration, BTRA and ARCI are set to accelerate the development of

Corporates

Vardhman Textiles And EY Parthenon Launch GreenWeave Initiative

Textile Insights August 22, 2024

Vardhman Textiles Ltd., a leading Indian textile manufacturer, has announced a joint initiative with EY Parthenon (EYP), a global leader in strategy consulting services, named “GreenWeave.” Through this collaboration, EYP will serve as Vardhman’s trusted strategy advisor, guiding them in value creation through Environmental, Social, and Governance (ESG) and Net

Corporates

Trützschler Discontinues Man-Made Fibers Division

Textile Insights August 22, 2024

Trützschler Group has ceased its Man-Made Fibers Division, ending production of machines and systems for BCF and IDY yarns. The company will now concentrate on spinning, card clothing, and nonwovens. To support existing customers, Trützschler has partnered with Oerlikon for ongoing service and spare parts. Oerlikon, a global leader in the BCF and IDY sectors, […]

Corporates

Thermax Textile Plans Major Stake Sale In SBAC Bank

Textile Insights August 22, 2024

Thermax Textile Mills, a sponsor shareholder of SBAC Bank PLC, has announced plans to sell the majority of its stake in the bank. Thermax Textile is part of the Thermax Group, led by Chairman Abdul Kadir Molla, who currently holds a 4.27% stake in SBAC Bank PLC. A senior official of the private bank confirmed […]

Corporates

Sanathan Textiles Refiles IPO Papers For Rs 800 Cr

Textile Insights August 22, 2024

Sanathan Textiles, a yarn products manufacturer, has refiled its preliminary IPO papers with SEBI for the third time, aiming to raise Rs 800 crore. The IPO will feature a fresh issuance of equity shares worth Rs 500 crore and an offer-for-sale of Rs 300 crore by promoters. The company initially filed draft papers with SEBI […]

Corporates

Rohit Aggarwal To Lead Lenzing As CEO From Sept 1

Textile Insights August 22, 2024

The Lenzing Group, a leading supplier of regenerated cellulose fibers, will welcome Rohit Aggarwal as CEO, effective 1 September 2024. He succeeds Stephan Sielaff, who will depart at the end of August by mutual agreement with the Supervisory Board. Rohit Aggarwal brings decades of experience in the textile and chemical industries, with a strong track […]

Corporates

Puma Appoints Johan Kuhlo As Managing Director For GCC

Textile Insights August 19, 2024

Puma has appointed Johan Kuhlo, 43, as the Managing Director for the Gulf Cooperation Council (GCC) region, effective September 1. In his new role, Kuhlo will oversee key markets, including the UAE, Saudi Arabia, Qatar, Kuwait and Oman. He will report directly to Puma’s CEO Arne Freundt. Kuhlo, who has been with Puma since 2015, […]