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

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, […]

Corporates

Sailuda Expands Production Capabilities With New Oerlikon Neumag BCF Plant

Textile Insights August 18, 2024

Chinese automotive supplier Sailuda is enhancing its production process by commissioning an Oerlikon Neumag BCF (Bulked Continuous Filament) plant, allowing the company to produce its own BCF yarns. This backward integration enables Sailuda to control the entire production chain, from yarn to finished car carpets, ensuring superior quality and consistency. Sailuda, a key

Corporates

Shinkong Invests US$10M in Ambercycle’s First Facility

Textile Insights August 15, 2024

Shinkong Synthetic Fibers Corporation, a global leader in polyester production, has invested US$ 10 million in Ambercycle’s inaugural state-of-the-art commercial facility. This investment will expand global production capacity for Ambercycle’s premium material, made from end-of-life textiles, and marks a significant milestone in the three-year collaboration between the two

Corporates

Lenzing Wins Platinum In EcoVadis CSR Rating

Textile Insights August 15, 2024

The Lenzing Group, a leading supplier of regenerated cellulose fibers for the textile and nonwovens industries, has achieved platinum status in EcoVadis’ CSR rating for the fourth consecutive year. This top-tier recognition places Lenzing in the top 1% of companies globally evaluated by EcoVadis, which assesses corporate social responsibility across environment, fair

Corporates

RSWM Launches “For All Reasons, For All Seasons” Campaign

Textile Insights August 14, 2024

RSWM Limited, a leading player in the textile sector and part of the LNJ Bhilwara Group, has introduced its new digital campaign, “For All Reasons, For All Seasons.” This initiative highlights RSWM’s six-decade legacy of enhancing Indian lives with premium textiles. The campaign features a poignant short film that illustrates how RSWM’s yarns and fabrics

Corporates

Indorama Ventures To Close PTA Plant In Montréal-Est

Textile Insights August 14, 2024

Indorama Ventures’ Combined PET business segment has announced plans to discontinue operations at its Purified Terephthalic Acid (PTA) plant in Montréal-Est, Montral, Canada with preparations for the closure set to begin in September 2024. This decision follows significant shifts in the polyester industry, notably due to new constructions and ongoing overcapacity in

Corporates

RSWM To Set Up New Production Unit In J&K

Textile Insights July 31, 2024

In a major boost for industrial growth in Jammu and Kashmir, RSWM Limited has announced its plans to establish a new production unit in the region. This move comes after the company received government approvals under the New Central Sector Scheme for Industrial Development of Jammu and Kashmir, 2021. RSWM has been allotted 32 acres […]