Nonwovens

7th Aug 2023

In Q2 FY23, Glatfelter reported net sales of $357 million but a GAAP net loss of $36.6 million due to industry-wide market weakness and customer destocking. Airlaid materials' sales rose, and composite fibres' revenue also increased. Spunlace revenue decreased but EBITDA nearly doubled. The company lowered its full-year EBITDA forecast to...

7th Aug 2023

Believe Diapers is rebranding to Believe Baby and expanding its sustainable product line made from 100 per cent renewable and biodegradable bamboo. The new offerings include toddler training pants, Bottoms Up, launching in Fall 2023. Founder and CEO Joe Masi emphasised the commitment to alleviating diaper shortage with planet-friendly products.

3rd Aug 2023

First Quality Enterprises has completed the acquisition of Domtar Corporations' Dryden Mill. The mill will operate as Dryden Fibre Canada, ULC within First Quality Group. There are no planned changes to the mill's employees or operations, and the new owners look forward to growth and strengthening relationships with local communities and partners.

1st Aug 2023

Belgium-based company Ontex Group's H1 FY23 revenues soared to €892 million, a 15 per cent YoY increase. Adjusted EBITDA reached €84 million, a 2.1-fold rise YoY, while operating profit was €36 million, a stark contrast to the €84 million loss in H1 FY22. Free cash flow also rebounded to €4 million, compared to a deficit of €59 million in H1 FY22

1st Aug 2023

Procter & Gamble (P&G) reported a net sales rise of 2 per cent to $82 billion in FY23. In Q4 FY23, net sales were up 5 per cent to $20.6 billion, bolstered by robust organic sales growth across all segments. Diluted net EPS grew 2 per cent annually and 13 per cent quarterly. The company’s gross margin in Q4 FY23 increased by 380 basis points.

31st Jul 2023

Finland-based company Metsa Group reported sales of €3,116 million in H1 FY23, down from €3,416 million in H1 FY22. Operating result also fell to €402 million from €589 million. In Q2 FY23, the company saw a similar trend with sales at €1,481 million, down from €1,822 million in Q2 FY22. The company's profitability and cash flow also declined.

28th Jul 2023

Mann+Hummel has signed an agreement to acquire a majority stake in Suzhou U-Air Environmental Technology (U-Air). This move strengthens Mann+Hummel's presence in China and Southeast Asia, catering to the increasing demand for air filtration products in the region. The transaction is expected to be completed in 2023, pending regulatory approvals.

28th Jul 2023

Indorama Ventures and Polymateria have been honoured with the INDA Innovation Award for their groundbreaking collaboration in developing Biotransformation technology for wipes. The partnership with Polymateria brings a real-world solution to waste management and aligns with Indorama Ventures' commitment to optimise the earth's resources sustainably.

21st Jul 2023

Private equity investors Cornerstone Investment Management and Kartesia have jointly acquired Ecowipes Group, a prominent producer of eco-friendly wet wipes. This purchase reflects their commitment to environmental, social, and governance (ESG) investing. Ecowipes is known for pioneering sustainable and biodegradable wet wipes made from natural...