Asian caprolactum markers, the SE and FE were flat in the third week of August while selling indications for high end Japanese goods surged on the week. In China, offers for liquid spot were stable while solid goods offers rose during the week.
Sinopec August contract price nomination was raised to 11,700 Yuan a ton (US$1,770 a ton) for liquid goods while Fibrant’s August contract was at 11,800 Yuan a ton (US$1,780 a ton) for liquid goods.
Vietnamese textile and garment export has just managed to touch US$13.15 billion, an increase of 4.7 percent. The figure is much lower compared to the same period previous year. The three major markets of Vietnam include the US, Japan and South Korea, according to the Ministry of Industry and Trade report.
JMBT Beteiligungen AG is a 100% subsidiary of Jakob Müller Holding AG and an affiliate of Jakob Müller AG in Frick, Switzerland a manufacturer of fabric manufacturing equipment has acquired 100 percent of the share capital of Benninger AG from Benninger Holding AG, a move that adds dyeing and finishing expertise to the Swiss company's current knitted and woven narrow fabric capability.
For Jakob Müller AG, the deal enables the firm to expand into an associated business field and profit from Benninger's current experience the textile-finishing sector.
Dogi a warp knitted stretch fabric manufacturer acquires Knitwear Treiss, a women’s knitwear manufacturer based in Mataro, near Barcelona. Treiss designs and produces a range of womenswear and counts retail giant Inditex, owner of the Zara brand, amongst its customers. Last year, it posted a profit of €3 million on the back of a €22 million turnover.
Dogi was acquired by Sherpa Capital in 2013 and the investment firm, which has paid €7 million for Treiss, said last year that it was initiating a drive towards further growth that would include acquisitions and joint ventures.
Eastman Chemicals Company in partnership with Unifi launches a new bicomponent polyester fibre, which allows much finer fibres to knitted into performance fabrics for the active apparel market. Avra is a new family of performance fibers enabled by a proprietary spinning technology which enables a ribbon-shaped synthetic fiber with a variable combination of shape and size.
Pakistan’s spinning mills importing fabric waste are forced to pay 17% sales tax and 5% withholding tax at the import stage, which they cannot recover due to overall zero-rating status of the textile sector, according to industry people. About a tenth of the total spinning sector uses textile waste as a raw material, said the industry officials.
Indian designers working to give the country's weaves a new context and a new avatar which will help to go a long way to help the craft in reaching out to a whole new audience. This will change the perception of Indian textiles, said Payal Khandwala, who is known for her handwoven silk, khadi, cotton and linen.
Khandwala on the sidelines of Lakme Fashion Week (LFW) Winter/Festive 2016 where she showcased her bridal line in association with Lakme Salon said that this, in turn, will support artisans that survive in dismal living conditions and have very poor wages.
The Philippines’ Department of Science and Technology (DOST) is working on a project with textile experts and weavers to produce a line of everyday office wear that incorporates indigenous textiles and designs for government employees to soon become a reality.
DOST said that the project will not only spice up the uniforms worn by some 1.5 million government employees, but also revive a 12-year-old law that requires office outfits that promote nationalism and boost the country’s rich tropical fabrics industry.
Textiles Minister Smiriti Irani has spoken to Andhra Pradesh Chief Minister N Chandra Babu Naidu for providing land and other facilities to set up India’s first integrated textiles city in Andhra Pradesh. With Naidu’s Telugu Desam Party being an ally of the ruling National Democratic Alliance at the Centre, the proposal, mooted by the NITI Aayog, is likely to be accepted, according to sources.
The central government has already initiated the process of identifying land, technology and expertise for the same.
In Qianqing, PC (65/35) 32s yarn prices US cent 1 a kg in the third week of August while 45s PC combed yarn prices were stable during the week. 32s PV (65/35) were flat on the week.
Blended yarn prices changed course in line with the movement in fibre prices. PC yarns prices in China were adjusted lower for some specs and in line with a new fall of cotton prices. PV yarn prices remained firm as VSF prices continued to move up while PSF remain stably firm.
