Aloke Lohia, IVL group CEO said that, “Brazil, with its large spinning industry is a natural place for the textile industry to enjoy long-term growth due to its location and large population,†,“We intend to support the local spinning industry with a commitment to supply high-quality fibers to blend with cotton and reduce dependence on imports.â€
IVL reports the acquisition gives the company a fiber footprint in Brazil, and is located close to IVL’s polyethylene terephthalate site and a third-party purified terephthalic acid site in Brazil. The transaction is expected to close during the fourth quarter and is subject to regulatory approvals.
Thailand-based Indorama Ventures Plc (IVL) has entered into an agreement to purchase polyester staple fiber producer M&G Fibras Brasil. The plant has a polymerization capacity of 75,000 metric tons per year.
The Hong Kong Polytechnic University (PolyU) has developed new soft magnetorheological textiles that could have wide applications in future smart…
Levi Strauss has introduced a new clothing repair initiative designed to encourage high school students to take an active role…
Silk clothing and accessories brand Anaphe is unveiling ReWritten, a collection that reimagines denim using silk, femininity and effortless modern…
BGMEA has signed MoU with ActionAid Bangladesh to work together in supporting the sustainable transformation of the country’s readymade garment…
Rimaks has partnered with SM Denim to introduce BodyCast, a resin-based finishing technique that gives priority to the natural shape…
Deven Supercriticals has unveiled the commercial-scale operation of SUPRAUNO, marking a major milestone in the transition toward sustainable textile dyeing.