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india - PSF production to grow by 13 pc in 2008-09 [ 22 Jul, 2008]
The production of polyester staple fibre (PSF) in the country is expected to grow by 13 per cent in the year 2008-09, the Centre for Monitoring Indian Economy (CMIE) said in its monthly report here.
"Polyster staple fibre (PSF) production witnessed a growth of 11.1 per cent during 2007-08 which was over and above a growth of 26 per cent in 2006-07," CMIE said.
"We expect the same growth in production of PSF to continue in the year 2008-09, and it will grow by 13 per cent during the period," the report said.
Polyester filament yarn (PFY) production witnessed a healthy growth of 11.8 per cent during 2007-08 on top of a growth of 18.3 per cent in 2006-07, the CMIE report said.
PSF being the cheapest among all synthetic yarns is widely preferred for textiles.
"We are hoping that PFY production in year 2008-09 will grow by around 12.5 per cent," CMIE said.
The demand for viscose staple fibre (VSF), which is a close substitute of cotton has also grown in previous years.
In the year 2007-08, the growth in production of VSF has increased to 13.4 per cent from 7.8 per cent during the year 2006-07, the report said.
"We expect VSF production to grow by around 16 per cent during the year 2008-09," CMIE said.
Source: The Economics Times
Wellman raises polyester prices [ 21 Jul, 2008]
Wellman Inc. is raising prices on its polyester fiber products by another 4 cents per pound, effective Aug. 17.
Wellman says the increase is necessary to offset higher-than-expected costs for raw materials.
The move follows a price increase of 6 cents per pound that went into effect this month.
The company sells polyester to the apparel, home-furnishings, nonwovens, industrial and fiberfill markets. It is also a packaging manufacturer and plastics recycler. The company’s products include Fortrel-brand polyester fibers and PermaClear and EcoClear packaging resins.
Earlier this year, the company filed for Chapter 11 bankruptcy reorganization.
In October, Wellman hired Lazard Freres and Co., an investment bank with experience in mergers and acquisitions for chemical companies, to explore its options.
Wellman (OTCBB:WMAN) is based in Shrewsbury, N.J., but most of its management and corporate staff is in northern Lancaster County.
Source: Business Journal
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