Oerlikon Manmade Fibers Segment Achieves Substantial Increase in Q3 Orders & Sales

The Manmade Fibers Segment of the Oerlikon Group recorded significantly higher orders and achieved a historical high in sales. The Segment once again achieved significant quarterly growth in top line, increasing its third-quarter 2018 order intake by 38.3% over the year before to CHF 260 million and recording a historical high in quarterly sales, up 58.6% to CHF 314 million. The Segment continued to secure orders and sales in the filament equipment market, primarily in China. The magnitude of orders in recent months has resulted in a pipeline with the delivery lead time reaching into 2021. A healthy demand in this market is expected to continue in the upcoming quarters.

Continue reading

Lenzing to Acquire Remaining 30% of Its Chinese Operation

The Lenzing Group intends to acquire the remaining 30% of its Chinese subsidiary Lenzing (Nanjing) Fibers Co. Ltd. (LNF) from its state-owned joint-venture partner NCFC. After closing of the transaction, the Lenzing Group will hold 100% of LNF. The underlying structured selling process was initiated by the JV partner in a state controlled bidding process, and the Lenzing Group received the Share Purchase Agreement draft. The closing of transaction documents is expected for the end of October. The acquisition will have a negative impact on net profits of the Lenzing Group of approximately 21 million euro for the fiscal year 2018. The purchase of shares supports Lenzing’s strategic growth as

Continue reading

Japan’s MMF Production Falls 7.1% in September

The Japan Chemical Fibers Association reported that the nation’s production of man-made fibers in September 2018 decreased by 7.1% compared to the same month of last year to 71,138 tons. (provisional) Of this, synthetic fibers fell 8.6% to 54,847 tons. Acrylic staple fiber production increased by 2.5% to 10,710 tons, thus increasing for the fifth consecutive month since May. The production of polypropylene staple fiber also grew by 5.2% to 5,548 tons. Meanwhile, production decreased for polyester filament (down 7.5% to 9,176 tons) and polyester staple fiber (down 6.1% to 7,087 tons). This year, monthly polyester filament production increased only in May and July, and that of PSF decreased for

Continue reading