Browsing: Spinning

On August 15, JMBT Beteiligungen AG acquired 100 per cent of the share capital of Benninger AG from Benninger Holding AG. With this acquisition Jakob Müller AG is expanding its position in the textile finishing sector. As a result of its integration in the Jakob Müller Group, Benninger will benefit from the sound structures and common ground with regard to technology, production and sales and can therefore extend its operations.

The number of UK companies manufacturing textiles and apparel rose sharply last year, according to a new report of the UK Fashion and Textiles Association (UKFT). confirming the growing momentum of ‘Made in Britain’ movement. The number of firms producing textiles and apparel rose to 7,880, a 7.6 per cent increase from previous year. The biggest increase came from a rise in the number of apparel manufacturers, up 10.7 per cent to 3,830 companies, while the number of textile firms had increased by 4.9 per cent year on year to touch 4,030.

The WTO has launched a new World Trade Outlook Indicator (WTOI) designed to provide ‘real-time’ information on trends in global trade. The WTOI was unveiled in Shanghai, China recently, ahead of a meeting of G20 trade ministers. Combining a variety of trade-related indices, WTOI is designed to give an early signal of the current direction of world trade and where it is likely to go in the near future. In this way the WTOI should signal turning points in world merchandise trade volume. It complements existing tools such as the WTO’s longer-term trade forecasts, and other statistical releases. WTOI gives a headline figure to show performance against trend.

The global yarn production increased in Q1/2016 quarter-on-quarter. Thereby, output in Asia and South America rose on a quarterly basis, while it decreased in Europe. On an annual basis, the global yarn production in Q1/2016 improved versus Q1/2015 with positive growth rates in Asia and Europe. Global yarn stocks fell in Q1/2016 quarter-on-quarter. Yarn stocks were reduced in Asia and South America, while they remained unchanged in the other regions. Year-on-year, global yarn stocks increased. Yarn orders in Europe and South America improved quarter-on-quarter and year-on-year.

T he fight for survival of the once well-known name in stitching suits—S Kumars—has come to an end at the High Court, which has ordered its closure. The Bombay High Court has ordered liquidation of S Kumars’ nationwide assets and ordered the banks to appoint an official liquidator to recover debt. The company owes Rs 4,500 crore to 134 banks, including State Bank of India and ICICI Bank, and other financial institutions. Passing the judgment on July 1, Justice BP Colabawalla gave four weeks’ time for the company to appeal against the order, and in the meanwhile, directed the banks to appoint the official liquidator to take charge of all the assets, properties, stock-in-trade, books of accounts and bank accounts of the company.

The announcement of portfolios for Prime Minister Narendra Modi’s new-look Cabinet saw some big portfolio changes among the existing ministers. In one such change, Smriti Irani will now take charge as Textiles Minister. She has taken over from Santosh Kumar Gangwar, who has now been given the Finance department. Ajay Tamta will also be given an active role in the Textiles Department. Irani was earlier the Minister of Human Resource Development. She joined the Bharatiya Janata Party in 2003. She became Vice President of the Maharashtra Youth Wing in 2004.

Demand for coated fabrics in the US is forecast to increase 2.1 per cent per year to 650 million square yards in 2020. Coated fabric usage is highly dependent on two factors: the production of end products and the level of competition from alternative materials, such as leather, plastic and rubber sheeting, and uncoated fabrics. These and other trends are presented in Coated Fabrics, a new study from The Freedonia Group, a Cleveland-based industry research firm.