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American firm Quantum Materials acquires Innegra

25th Oct 2023

Quantum Materials, LLC, has acquired the Innegra high-performance fibre portfolio to bolster its technical textile solutions. Quantum will showcase Innegra at the upcoming CamX show in Atlanta, GA. Allen Smith, CEO of QTI Fibres, sees this acquisition expanding opportunities beyond composites, benefiting the entire QTI company portfolio.

Pic: Kristina Schauman/LinkedIn
Finland’s Ahlstrom changes composition of board of directors

6th Oct 2023

Kristina Schauman has been appointed as a member of Ahlstrom's board of directors and chair of the audit committee. She is an independent board professional with experience in leading audit committees and serves on the boards of several listed companies. Schauman has a background in industrial manufacturing and has held CFO positions in various...

Pic: Ahlstrom/LinkedIn
Finland’s Ahlstrom announces changes in executive management team

15th Sep 2023

Finland-based Ahlstrom has appointed Niklas Beyes as CFO and Wolfgang Laures as COO, both joining the executive management team. Beyes, with experience in leading finance transformations, aims to support Ahlstrom's sustainable growth. Current CFO Jorn P Jensen is scheduled to exit on September 15 and Laures will assume the role of COO from October...

Pic: Ken Wolter / Shutterstock
US’ Donaldson posts gross margin of 34.1% in Q4 FY23

4th Sep 2023

In Q4 FY23, Donaldson Company achieved a gross margin of 34.1 per cent, up 130 basis points due to pricing benefits and stable input costs. Adjusted gross margin, excluding charges, was 34.3 per cent. Sales slightly declined by 1.2 per cent to $879.5 million, with the Mobile Solutions segment down by 4.8 per cent and Aftermarket sales fell by 6.7...

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GREAT funding to accelerate growth of India’s technical textile sector

31st Aug 2023

India's technical textile startups are buoyed by the new GREAT initiative. Industry experts believe that the scheme will fast-track growth and attract new entrepreneurs, meeting a longstanding demand for financial support in this sector. The ministry of textiles has also approved 26 engineering schools to introduce technical textile courses.

Pic: Toray
Japan’s Toray & partners expand circular economy programme

31st Aug 2023

Toray Industries, Nitto Seimo, and Maruha Nichiro Corporation's subsidiary Taiyo A&F are expanding their recycling programme aimed at resolving marine plastic pollution. The programme, initiated last November, involves recycling materials from fishing nets into new ones. The companies are now extending the programme to include used nylon fishing...

Pic: Ahlstrom
Ahlstrom signs agreement to divest Stenay plant to Accursia Capital

31st Aug 2023

Ahlstrom is set to divest its Stenay plant in France to Accursia Capital after receiving approval from employee representatives. The transaction, expected to be finalised by September end, is in line with Accursia Capital's strategy to develop the Stenay plant and ensure its sustained future, thus safeguarding jobs and enhancing the paper-based...

Christian Baier. Pic: Covestro
US’ Covestro appoints new CFO & labour director

28th Aug 2023

German company Covestro's supervisory board has appointed Christian Baier as the new CFO, succeeding Dr Thomas Toepfer on October 1, 2023. Dr Markus Steilemann, the CEO, will serve as interim CFO in September after Toepfer leaves on August 31, 2023. Dr Thorsten Dreier will become the labour director alongside his role as CTO from September 1, 2023.

Pic: Garware Technical Fibres
Net sales of Indian firm Garware Technical Fibres rise 7% in Q1 FY24

18th Aug 2023

Indian firm Garware Technical Fibres Ltd reported a 7 per cent rise in net sales to ₹325.7 crore in Q1 FY24, compared to ₹304.5 crore in Q1 FY23. Profit before tax grew 54 per cent to ₹57.1 crore, and net profit after tax increased by 52 per cent to ₹43 crore. The EPS for Q1 FY24 stood at ₹21.08, a 54 per cent growth over the previous year.

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