Global Fibre Industry, Fibre Resources, Fibre News & Fibre Industry Articles

Burkina Faso firm secures US$ 151mn loan to buy cotton

2012-01-24T04:36:00.000-08:00

Burkina Faso’s largest cotton firm, Societe Burkinabe des Fibres Textiles (Sofitex), has secured a loan of 77 billion CFA francs (US$ 151 million) to fund its cotton purchases for the 2011-12 season, Chief Executive Officer of the firm Jean Paul Sawadogo said.

Mr. Sawadogo said loan obtained from 10 local lenders would facilitate speedy payment to cotton growers.

The amount to be taken on credit this season by Sofitex is a seven percent rise over the loans secured during last season, Roger Dah-Achinanon, Managing Director of Ecobank Transnational Inc. (ETI)’s Burkinabe unit, which was also among the banks that extended the loan, said.

Burkina Faso Government had announced in April last year that it would procure cotton from farmers at a price of 245 CFA francs per kg.

Sofitex has started procuring the crop from December 2011. Mr. Sawadogo said the firm’s cotton-seed production for the 2011-12 season is expected to grow by five percent to 300,000 metric tons.

Mr. Dah-Achinanon revealed that Sofitex has already returned around 75 percent of its last season’s loan. Coris Bank International, United Bank for Africa Plc (UBA)’s Banque Internationale du Burkina, Groupe Banque Atlantique, Banque Sahelo Saharienne pour l’Investissement et le Commerce, Bank of Africa Burkina Faso and Societe Generale SA’s unit are the other lending partners, he informed.

For more details please visit : Burkina Faso firm secures US$ 151mn loan to buy cotton @ Fibre2fashion

Fiber producer DAK promotes Young to President, CEO

2012-01-17T04:04:00.000-08:00

DAK Americas LLC (DAK) announced that Jorge Young is promoted to the position of President and Chief Executive Officer. Young assumes the position of President and C.E.O. with the retirement of Hector Camberos.

Upon retiring from Fiber producer DAK Americas' USA, Camberos (who has held the position of President since DAK's creation in 2001) will move and return home to Argentina and assume the leadership of DAK Americas' Argentina PET Business. Furthermore, he will be very active in the strategic growth initiatives and new business developments of Alfa, DAK's parent company, in South America.

Camberos stated, “I am pleased to hand over the leadership to Jorge Young to continue the growth of DAK Americas into its second decade and still be able to contribute and help further expand DAK and Alfa in South America.”

During Young's tenure with DAK Americas he oversaw the tremendous growth of the PET Resin Business to become the largest PET Resin producer in North America and the second largest worldwide, growing capacity to over 4.3 Billion lbs/yr.

Young has been with DAK Americas since it was established and has been serving as the Executive Vice President - PET Resins since 2007 and Vice President of Finance and Administration prior. Young will lead DAK Americas Executive Team which will also be expanded and included the following changes:..........

For more details please visit : Fiber producer DAK promotes Young to President, CEO @ Fibre2fashion

Chinese textile output skyrockets between Jan-Nov

2012-01-10T05:09:00.001-08:00

Output of the Chinese textile sector, compromising of large and medium sized units, leaped 27.5 percent year-on-year to 4.95 billion Yuan in the first eleven months of 2011.

These textile units individually posted annual revenues of above 20 million Yuan, said the National Development and Reform Commission.

In the same period, industrial added value of China’s big-size textile enterprises rose 10.5 percent in the first eleven months of 2011. The growth rate was 0.6 percentage points faster than the first half.

China's yarn production registered 26.32 million tons in the period, up 12.4 percent year on year and cloth output stood at 56.8 billion meters, up 13.2 percent.

Chemical fiber production rose 14.9 percent to 30.74 million tons and apparel output grew by 8.5 percent year on year to 23 billion units.

For more details please visit : Chinese textile output skyrockets between Jan-Nov @ Fibre2fashion

India to invest Rs 1bn in advanced Bt cotton project

2012-01-09T02:49:00.000-08:00

India’s Ministry of Agriculture has given its nod for developing an advanced version of Bt cotton that will be resistant to multiple pests and diseases.

The Rs. 1 billion project aims to not only provide the cotton crop with viral immunity, but also create genes that are resistant to jassids – a leaf hopping pest.

A portion of the fund would also be utilized to develop farm tools including cotton-picking machines.

Speaking to fibre2fashion, Dr. Swapan Kumar Datta, Deputy Director General (Crop Science) at Indian Council of Agricultural Research (ICAR) said, “There is a proposal for working on the latest technology of Bt cotton and combining it with the other genes of traits that are required for cotton improvement, in partnership with the private sector, agricultural research universities and ICAR.”

Elaborating further, he says, “It will be a national programme and this project will address all issues of advancements of biotechnology in organic cotton as well as indigenous cotton varieties. Many of our varieties that do not have Bt technology are not in demand owing to preference for Bt cotton that provides protection against several pests and diseases. As a result, many of our indigenous varieties are not being used by the farmers.”

Explaining the rationale for the new project, he says, “There is huge demand from Europe for organic cotton and they love to receive organic cotton from India. This issue needs to be addressed so that we can have an integrated approach for research in cotton and the value added product will always fetch higher price. Eventually, this will benefit farmers as they will get higher prices for their superior quality cotton.”

For more details please visit : India to invest Rs 1bn in advanced Bt cotton project @ Fibre2fashion

ICAC estimates global cotton use to decline by 2%

2012-01-04T04:02:00.000-08:00

The International Cotton Advisory committee (ICAC) presented Global cotton production is forecast 8% higher in 2011/12, compared with 2010/11, at 26.8 million tons, whereas consumption could decline by 2% to 23.9 million tons.

As a result of the projected surplus of 2.9 million tons, global cotton stocks could rebound to 11.9 million tons by the end of 2011/12. This recovery follows two seasons of relatively tight global stocks.

Almost 40% of the gain in global stocks this season could take place in China, due to the rebuilding of the national reserve. Between October 8 and December 30, 2011, a total of 2.1 million tons of domestic cotton were purchased for the China national reserve. Daily purchases are continuing.

There is no limit to the amount of domestic cotton to be purchased by the national reserve this season. In addition, it is reported that about one million tons of non-Chinese cotton has been bought for the reserve; this cotton will be shipped to China over the next few months.

For more details please visit : ICAC estimates global cotton use to decline by 2% @ fibre2fashion

India to post record cotton output in 2011-12 season

2012-01-03T04:51:00.000-08:00

India is poised to have a record cotton production of 34 million bales of 170 kg each in 2011-12 season, according to the apex cotton body of India.

Dhiren N Sheth, President of Cotton Association of India (CAI), said while the production is not expected to be below 34 million bales, the consumption may not cross 25 million bales, thus, there would be a huge carry-over stock left for next year.

He cited widespread rains in the cotton growing regions, increase in cotton acreage as farmers received good price last season, and higher usage of Bt cotton as the factors that have spurred the production of cotton in India this season.

He stated that the seasonal conditions that existed in 2010-11 were favourable for growth of cotton and it acted as a catalyst for farmers to increase the acreage of cultivation under cotton this year.

Farmers also cultivated cotton on additional area as cotton gives higher net returns compared to other crops that grow during the same season, he added.

In addition to higher yields, farmers also benefited owing to a decline in production costs after they started cultivating cotton with Bollgard II technology. Today, Bollgard I and Bollgard II technologies together account for nearly 90 percent of India’s total area under cotton cultivation.

Actually, the surge in India’s cotton production in the last few years can be traced to the rapid increase in area under GM cotton. The uptrend continued in 2010-11, when the country produced 32.5 million bales of cotton, Mr. Sheth said.

For more details please visit : India to post record cotton output in 2011-12 season @ Fibre2fashion

China to become third largest para-aramid producer

2011-12-27T03:52:00.000-08:00

Next to the United States and Japan, China is likely to become the world’s third most leading manufacturer of para-aramid, a strong and heat resistant synthetic fibre, by 2015, President of China Bluestar Chengrand Chemical Co Ltd, Mr. Cao Xianjun has said.

Mr. Cao informed that Bluestar Chengrand, an arm of China’s largest chemical firm – China National Chemical Corp (ChemChina), now has an annual capacity to produce 1,000 tons of para-aramid fibre, which finds great utility in aerospace industry and with military, and is also used in components for ships, automobiles and high-speed trains.

The firm proposes to set up a production line with a capacity to produce another 10,000 tons of para-aramid per annum and to install new machinery to support production of composite materials out of para-aramid and intends to invest around three billion yuan or US$ 476 million for the same.

For more details please visit : China to become third largest para-aramid producer @ Fibre2fashion

CACP suggests Maharashtra govt to help cotton growers

2011-12-26T05:24:00.001-08:00

The Commission for Agricultural Costs and Prices (CACP), the body that recommends the minimum support prices (MSP) for various agricultural commodities, including cotton, has suggested that the Maharashtra State government should announce some relief package for cotton growers in the State on its own, with some help from the Centre.

The suggestion has come in response to reports about the farmers in the State asking for an increase in the MSP of cotton.

Currently, the MSP for long staple variety of cotton has been fixed by the Centre at Rs. 3,300 a quintal, while the cotton prices in Maharashtra and adjoining Gujarat are around Rs. 4,000 a quintal.

Cotton prices have dropped from a record high of Rs. 7,000 a quintal in March this year owing to a drop in demand from both domestic and export markets.

Another reason for the drop in prices is the estimated harvest of 35.6 million bales (1 bale = 170 kg) of cotton during the current season that began in October, higher than the 32.5 million bales produced last year.

Comparing the situation of Maharashtra cotton growers with those of Gujarat, Dr. Ashok Gulati, Chairman CACP, told fibre2fashion, “The biggest problem with Maharashtra is that the irrigation level in cotton is pitiably low to the extent of less than 5 percent. Their productivity is half of Gujarat. On the other hand, Gujarat has 50 percent of area under cotton under irrigation and productivity is double of Maharashtra. Therefore, cotton cultivators in Gujarat make profits at the same MSP whereas Maharashtra farmers make very little profit or even loss.”

For more details please visit : CACP suggests Maharashtra govt to help cotton growers @ Fibre2fashion

NatureWoven Compostable Signage is now available

2011-12-22T03:56:00.000-08:00

Need a sign? Say goodbye to petroleum-based synthetics and embrace a new digitally printable eco-friendly solution. NatureWoven now offers a picture perfect solution to the digital imaging industry that is environmentally friendly and compostable for today’s world.

NatureWoven products can be used for indoor and outdoor applications and are manufactured from 100 percent natural plant fibers and latex. These materials require a fraction of the energy to manufacture compared to synthetic products and absorb large amounts of CO2 during growth.

As consumers are inundated with billboards, banners and point-of-sale signs, NatureWoven reduces the toxic waste and offers environmental signage materials for brands.

“Our products begin life as plants, become signage and then complete their lifecycle as natural fertilizers that improve soil quality,” said Matt Devlin, NatureWoven’s VP Business Development – North America.

“This fundamental shift towards sustainable raw materials in printing options has never been done before and should be embraced by the industry. It’s refreshing when brands such as Patagonia and Whole Foods use our products simply because it’s the right thing to do.”

For more details please visit : NatureWoven Compostable Signage is now available @ Fibre2fashion

Mechanism to Foster growth of Peruvian Tangius cotton

2011-12-21T05:07:00.000-08:00

The Peruvian government has proposed a mechanism to protect farmers cultivating the Tanguis cotton variety against volatility in global cotton prices.

The mechanism will be implemented by the Agriculture Ministry (MINAG) in conjunction with Ministry of Economy and Finance and National Association of Cotton Producers (ANPAL), said the Agriculture Minister - Luis Ginocchio Balcazar,.

This program is expected to increase the competitiveness of Tangius cotton farmers as well as strengthen their marketing prowess.

As part of this initiative, cotton farmers producing the Tangius quality will be provided direct financing lines at preferential interest rates for the next cotton crop.

Customs checks will also be strengthened in order to prevent entry of textile and clothing which can harm the interests of cotton farmers.

The Agriculture Ministry would urge the government to implement an anti-dumping legislation on goods which impact Tangius cotton farmers.

A dialogue with the Ministry of Commerce would be started to ensure compliance of rules of origin, governing inputs of textile and apparel exports to the US under the North American Free Trade Agreement (NAFTA).

For more details please visit : Mechanism to Foster growth of Peruvian Tangius cotton @ Fibre2fashion

Jharkhand govt sanctions Rs 69.5mn to boost tasar silk

2011-12-19T04:14:00.000-08:00

To boost tasar silk production, the government of east Indian State of Jharkhand has sanctioned Rs. 69.5 million.

The funds were approved at a meeting of the State Cabinet chaired by Chief Minister Arjun Munda.

During the current fiscal, the government would spend Rs. 53 million on developing and rearing silkworm varieties that produce good quality tasar silk.

The remaining amount of 16.5 million would be released next fiscal, according to Cabinet Secretary Aditya Swaroop.

Jharkhand is one of the leading sericulture States in India. The State government’s support is expected to help in research and development of high-yielding silkworm varieties.

For more details please visit : Jharkhand govt sanctions Rs 69.5mn to boost tasar silk @ Fibre2fashion

ABY Indonesia will ramp up its capacity by 20%

2011-12-15T02:42:00.000-08:00

ABY, the Overseas Spinning Business of the Aditya Birla Group, a US $35 billion corporation headquartered in India, has set itself on a growth drive. The business growth will be driven by expansions in volume and by the penetration of higher-value segments through its recently launched portfolio of branded products.

With 5 manufacturing units spread across 3 countries - Indonesia, Thailand and Philippines, ABY has a strong presence in the global cellulosic yarn trade. This growth initiative is in sync with the strategy of developing value-added products to meet customer requirements worldwide.

According to Mr. Vikram Rao, Business Director, Overseas Spinning and Acrylic Fibre Businesses, Aditya Birla Group, “Around the core of our operational excellence, our endeavour is to build a sustainable business through innovation and deliver added value to our customers, keeping the end-consumer in mind. We believe that this position helps us to further build on our differentiation in the market space.”

For more details please visit : ABY Indonesia will ramp up its capacity by 20% @ Fibre2fashion

100% Made in Italy Partnership for XLA Elastomeric Fiber

2011-12-08T04:33:00.000-08:00

Aquafil, Europe’s market-leading and second worldwide player in the production of Nylon 6 for textile flooring, and Carvico, leading manufacturer of warp-knitted stretch fabrics, announced the new XLAnce Fibre Italia Joint Venture.

Following its creation, XLAnce Fibre Italia has completed a transaction with The Dow Chemical Company and its affiliates (“Dow”) to purchase the trademarks associated with XLA polyolefin based stretch fiber and to acquire an exclusive license under the related intellectual property for crosslinked polyolefin based stretch fiber for woven and knitted textile articles.

The transaction also includes the acquisition of Dow’s XLA fiber production lines, machinery and equipment based in Dow’s Tarragona (Spain) site.
In the coming weeks XLAnce Fibre Italia will transfer to Italy the production lines acquired from Dow. The beginning of production is scheduled for the third quarter of 2012.

The new joint venture, 50/50 owned by each company, is strategic for both Carvico and Aquafil as it will allow the re-launch of XLA, a particularly innovative fiber with an important growth potential.

For more details please visit : 100% Made in Italy partnership for XLA elastomeric fiber @ Fibre2fashion

CITTA to Advise Andalusian Textile Companies

2011-12-06T04:55:00.000-08:00

The Textile Technology Centre of Andalusia (El Centro Tecnológico del Textil de Andalucia or CITTA) has launched a new business advisory service for companies to help them improve their commercial position. Andalusia is the most populous and the second largest in area of the autonomous communities of Spain.

Under the new service, CITTA will prepare a comprehensive report about the position of the textile companies in the market and guide these companies to attune their production with customer demand, and thus enhance their efficiency.

The Innovation and Development Agency of Andalusia (IDEA) will be funding the project, which emanated from the need to set up a management model that works in the constantly evolving and changing textile market.

For more details please visit: CITTA to Advise Andalusian Textile Companies @ Fibre2fashion

Cotton Prices in India May Fall to Rs. 32,000 a Candy

2011-12-02T01:49:00.000-08:00

In view of the limited demand and arrival of new cotton in India, the prices of cotton are likely to fall further.

The prices of cotton have fallen down from Rs. 39,000 per candy (1 candy = 356 kg) a month ago to around Rs. 35,625 per candy on December 1.

On November 30, the price of Shankar-6 cotton in Gujarat was Rs. 35,000, in Maharashtra it was Rs. 34,000, in Andhra Pradesh it was between Rs. 34,500 to Rs. 35,000, while in Punjab it was between Rs. 32,500 to Rs. 33,000.

“The international as well as the domestic demand is less, so it is quite obvious that the prices will fall,” Mr. Anand Popat, Secretary of Saurashtra Ginners Association exclaimed while speaking to fibre2fashion.

For more details please visit: Cotton Prices in India May Fall to Rs. 32,000 a Candy @ Fibre2fashion

RadiciGroup to Partake at Floor Covering Fair - Domotex

2011-12-01T02:43:00.000-08:00

RadiciGroup will be exhibiting at Domotex 2012, the world's leading trade fair for floor coverings, to be held in Hanover from 14 to 17 January 2012.

During the event, RadiciGroup will be introducing its latest yarns and staple products for the contract and residential sectors, starting with Radifloor PA6 and PA66 BCF yarn. Because of its performance characteristics, this Radifloor product has earned a dominant position in the European high quality floor covering market.

At the trade show, RadiciGroup will also focus on Radifloor nylon 66 products, in particular the 1000 and 1300 dtex lines, which during 2011 were substantially redesigned and redeveloped with significant investments in the production lines at the Radici Fil SpA plant in Villa d’Ogna (BG), Italy.

In the Radigreen polyamide and polyolefin artificial grass yarn range, the focal points will be the My Radigreen line - an “All-in-One” exclusive combination of straight and textured monofilament, specially developed for residential and commercial synthetic turf applications -, the new and exclusive Radigreen MFL PE monofilament shapes, and the Radigreen MFL PA line of nylon monofilament available in straight and textured versions.

For more details please visit : RadiciGroup to Partake at Floor Covering Fair - Domotex @ Fibre2fashion

Researchers in India Advise Farmers Not to Stock Cotton

2011-11-30T02:42:00.000-08:00

Researchers working on the National Agricultural Innovation Project (NAIP) in India have advised farmers not to stock their production and sell cotton at current prices.

NAIP has eleven partner institutes which work on the project for establishing and networking of agricultural commodity prices with market intelligence in India. The aim of NAIP is to increase the income of the farmers and creating awareness among them regarding the market scenario.

Researchers working on the project advise the farmers when to sow a certain crop and when to preserve or store the crop, keeping in mind the prices of the commodity likely to be available at the time of harvest.

Fibre2fashion spoke to Dr. RL Shiyani, Professor & Head and Prof. MG Dhandhalya, Assistant Research Scientist, at the Department of Agricultural Economics, Junagadh Agricultural University (JAU), which is one of the 11 NAIP partner institutions.

The researchers stated, “Our advice to farmers is to sell their cotton at current prices and not to stock their production, because there is no chance of increase in cotton prices in the next few months.”

Please visit Researchers in India Advise Farmers Not to Stock Cotton For more info. By Fibre2fashion

Octa Fibre From Teijin Offers Unique Properties

2011-11-28T23:11:00.000-08:00

Teijin Fibers Limited, the core company of the Teijin Group's polyester fibers business, has developed an unprecedented polyester fiber with a unique, highly modified cross-section with eight projections aligned in a radial pattern around a hollow fiber.

The new fiber, named Octa after its octopus-like appearance, offers rapid sweat absorption and drying, low weight, heat shielding/insulation and useful bulkiness. Octa will be marketed from April 2012 for innerwear, fashion apparel and many other uses.

The voids between the eight projections result in a highly functional fiber for sweat absorption, rapid drying and bulkiness. The voids also improve heat shielding and insulation properties, as well as create the lightweight feel of hollow yarn at roughly half the weight of yarn of similar thickness. Octa can also be used in combination with other fibers through false twisting, combined filament processing and two-strand yarn spinning.

Modified cross-section fibers enable new functions to be added and the appearance and texture of original fibers to be altered. Teijin Fibers' lineup includes a polyester fiber with a triangular cross-section offering a glossy appearance, a hollow, thin-walled polyester fiber that traps large quantities of non-flowing air for thermal insulation, a polyester fiber with a cross-section of four flat peaks for superior sweat absorption and quick drying, and a false-twisted polyester fiber with an irregular cross-section.

For more info please visit : Octa Fibre From Teijin Offers Unique Properties @ Fibre2fashion

Cornell’s Scientists Fashioning Electronic Future for Cotton Fiber

2011-11-28T21:47:00.000-08:00

The latest breakthrough in cotton fiber research has scientists envisioning hospital gowns that monitor medical patients and jerseys that test athletic performance, according to Cornell University fiber scientist Juan Hinestroza, co-author of a new study that reveals how everyday cotton can be turned into high-tech fabric.

Hinestroza, professor of fiber science in Cornell’s College of Human Ecology, is part of an international team that developed transistors using natural cotton fibers, gold nanoparticles and polymers. The research builds on his previous work indicating such technology is possible, and will be published in the December 2011 issue of the journal Organic Electronics.

The innovation represents a significant step forward because it lays the groundwork for creating even more complex devices, such as cotton-based circuits, Hinestroza said. This would allow fabrics to sense body temperature, automatically heat up or cool down, track heart rate and blood pressure in high-risk patients, and monitor the physical effort of high-performance athletes.

For more information please visit : Cornell’s Scientists Fashioning Electronic Future for Cotton Fiber @ FIbre2fashion

Giulio Bonazzi succeeds Andreas Eule as CIRFS President

2011-11-23T23:02:00.000-08:00

Giulio BONAZZI, CEO of Aquafil, has been unanimously elected by the European Man-Made Fibres Association (CIRFS) members to take on the role of President.

He succeeds Andreas EULE, CEO of Cordenka, whose mandate has expired but who will remain a member of the Board as past-President.

Andreas EULE comments:
“I am delighted that Giulio BONAZZI has been elected to follow me as CIRFS President.

“He has been actively involved in CIRFS for several years, most recently as its Vice-President. He has a very successful record in the man-made fibres industry, leading a successful company which is the global leader in its products. Giulio BONAZZI understands the positive contribution that CIRFS makes to the industry’s development and how CIRFS can help the industry meet its current and future challenges.”

Giulio BONAZZI adds:
“Andreas EULE has given a strong lead to CIRFS in his period as President, in showing how it can continue to play a key industry role by constantly adjusting to changing needs. I look forward to carrying on this mission over the next three years.

More at : Giulio Bonazzi succeeds Andreas Eule as CIRFS President @ Fibre2fashion

‘Bhilwara textile industry needs to adopt sustainable means’– Mr Sharma, RSWM

2011-11-23T04:47:00.000-08:00

Another interesting presentation at the recently concluded ‘International Conference on Manmade Fibre Textiles’ came from Mr Ajay Sharma who is GM (New Product Development) - RSWM Ltd, a division of the LNJ Bhilwara Group.

It is said that the very first manufacturing of blended polyester/viscose yarn in India was begun by the erstwhile Rajasthan Spinning and Weaving Mills Ltd (RSWM Ltd) in the renowned manmade fibre textile hub of Bhilwara.

He put up a strong presentation on the challenges faced by the cotton fibre textile industry and as to why synthetic textiles have better growth opportunity over cotton textiles.

He said, “India is the third-largest cotton producer in the world. Area of cotton cultivation is significantly larger than any other country in the world accounting for about 25 percent of global cotton area, but average yields are the lowest among the top-10 global cotton producers.

For more details please visit : ‘Bhilwara textile industry needs to adopt sustainable means’– Mr Sharma, RSWM @ Fibre2fashion

Battle For Zimbabwean Cotton Intensifies

2011-11-22T03:33:00.000-08:00

The fight for Zimbabwe’s cotton continues to get acute as newer firms join the race to serve as contractors for seed cotton for the ongoing season.

In all 14 companies – Cargil, Sino Zimbabwe, Cotton Company of Zimbabwe, Olam, Alliance, Parrogate, Viridis, Romsdal, Insing, Grafax, CottZim, Fahad, Jimmac Zimbabwe Cotton and Southern Cotton Company – have registered themselves to serve as seed cotton contractors for 2011-12 season.

Serving as contractors, these firms would distribute seeds required by farmers for undertaking cotton cultivation, by setting up distribution points across the country, the Agricultural Marketing Authority (AMA) said.

As stated by AMA, Zimbabwe’s cotton consumption till October 31 this year came to be 249.904 million kg as against the consumption of 93.44 million kg during the corresponding period of last year.

Zimbabwe’s cotton exports are expected to grow by 20 percent from last year’s 326,400 bales to 408,000 bales during this fiscal. The rise in exports is greatly supported by a rise in production which is attributable to legislative reforms that have brought stability to the sector.....

More news on :: Battle For Zimbabwean Cotton Intensifies @ Fibre2fashion

Synthetic Fibre Industry Pleads for Uniform Cenvat in India

2011-11-20T23:25:00.000-08:00

The synthetic fibre industry has requested the Government for a 4 percent common Cenvat (Central Value Added Tax) rate on all types of textile fibres, with an alternative to stay in the Cenvat chain or not.

The synthetic fibre and fibre intermediates stated that industry's pre-budget memorandum for the Union Budget 2006-07, the mandatory 16 percent duty at the fibre and filament yarn stage imposed on the synthetic textile sector has created the problem of Cenvat accumulation at the blended yarn stage.

According to the memorandum, this has removed the profitability and working capital of the spinning industry and removed its strength to generate reinvestable surplus for further growth.

As per the Memorandum, the National Textile Policy of 1985 and New Textile Policy in 2001 had zoomed in "fuller fibre flexibility," which denoted that there should be no limit for use of any fibre by any section of the industry.

For more details please visit: Synthetic Fibre Industry Pleads for Uniform Cenvat in India at fibre2fashion

Cotton Traders: Cotton Trading Resumes in Karnataka

2011-11-16T04:26:00.000-08:00

Cotton trading has resumed in the south Indian State of Karnataka, as the Karnataka Chamber of Commerce and Industry (KCC&I) and the Karnataka Cotton Traders’ Association (KCTA) have withdrawn their strike.

The two organizations have called-off their strike following an assurance from the State government to address the issues raised by the two bodies.

Earlier on November 10, the two organizations had given a call to suspend cotton trading demanding simplification of the process of refunding the VAT collected on purchase of cotton. The two organizations had also demanded reduction of VAT on buying of cotton from the present 5 percent to 2 percent and decrease in the levy of additional cess from the present 1.5 percent to 1 percent.

The State government has sought a month’s time to resolve the issues raised by the two organizations. KCC&I has, however, said that the organization would again agitate if the demands are not met by December 10, 2011.

Fibre2fashion News Desk - India

For more details please visit : Cotton Traders: Cotton Trading Resumes in Karnataka @ Fibre2fashion

Lenzing Sees Good Development In First Nine Months

2011-11-16T04:10:00.000-08:00

In the first nine months of 2011, the Lenzing Group succeeded in significantly improving all relevant indicators in comparison to the previous year, and is thus performing in line with the expectations defined in the half-yearly report.

Consolidated sales in the first nine months of 2011 climbed 23.9% year-on-year, from EUR 1,285.5 mill. to EUR 1,592.2 mill. A total of 3.5 percentage points of this increase can be attributed to the higher fiber shipment volumes, whereas 13.6 percentage points are the result of the higher average fiber selling prices. Growth in other business areas as well as the full consolidation of the Paskov pulp plant over three quarters also contributed to the rise in consolidated sales.

EBITDA in the first three quarters of 2011 improved by 55.3% to EUR 362.9 mill. from the prior-year level of EUR 233.6 mill. This corresponds to an EBITDA margin of 22.8% (Q1-3 2010: 18.2%). The operating profit (EBIT) in the first nine months of 2011 was up 71.6% to EUR 289.7 milll. (Q1-3 2010: EUR 168.8 mill.), equivalent to an EBIT margin of 18.2% (Q1-3 2010: 13.1%). The profit for the period climbed to EUR 217.9 mill. from EUR 122.8 mill. in the previous year, an increase of 77.5%.

“Following the outstanding second quarter, the market for standard viscose fibers weakened as expected in the third quarter. Nevertheless, we were able to post third-quarter earnings which matched the very good first quarter of 2011“, says Lenzing CEO Peter Untersperger. “This was primarily due to the quantitatively higher share of the specialty fibers Lenzing Modal and TENCEL along with their stable price development. New record shipment volumes were achieved with Lenzing Modal“.

For more deetails please visit : Lenzing Sees Good Development In First Nine Months @ Fibre2Fashion