Bangladesh Textile Manufacturing News

Related General Manufacturing Industry News

• Febuary 2023, Saudi’s MODON announces USD 1.1bn textile investments. These investments are distributed over 125 industrial contracts in 19 industrial cities, covering a total area of more than one million square meters. According to Al-Argoubi, the textiles and men’s supplies sector is experiencing high growth in the Kingdom.
• October 2022 - Nykaa enters the Gulf nations through its first global partnership with Apparel Group. The Apparel Group of Dubai will hold 45% of the company's shares, while Nykaa will control 55% of the partnership's shares. The Indian cosmetics and clothing store Nykaa recently announced a partnership with the Apparel Group, a fashion and lifestyle retailer with headquarters in Dubai, to expand its presence in the GCC (Gulf Cooperation Council) nations.

• August 2022: Trelleborg AB, a Swedish engineering company, agreed to pay USD 1 billion in cash to buy Minnesota Rubber and Plastics, which is owned by KKR. In 2018, KKR bought Minnesota Rubber and Plastics from Norwest Equity Partners, which was also a private equity firm.
• August 2022: Huntsman Corporation said it had reached a final agreement with Archroma, a company owned by SK Capital Partners, to sell its Textile Effects division. The total enterprise value of the deal is about USD 718 million. This includes USD 125 million in net underfunded pension liabilities as of December 31, 2021, which will be taken on by the buyer.

March 2022 - Toray Industries, Inc. unveiled Toyoflon, a low-friction polytetrafluoroethylene (PTFE) with a property to resist friction and be used in high-strength textiles. According to Toray studies, the slide's durability is 25 times greater than its current counterparts, and friction has decreased by more than 50%. Due to its performance advantages, increased surface pressure, and ability to be smaller and lighter, the new textile is expected to witness a rise in adoption.

February 2022 - Esquel Group and Everbright Environment signed a strategic collaboration agreement to leverage Esquel's 40-plus years of experience and expertise in manufacturing, energy, and wastewater management with Everbright Environment's leading waste-to-energy technology. This is expected to drive the adoption of sustainable manufacturing processes among the industry players in renewable energy and industrial wastewater treatment fields.

• Febuary 2023, Saudi’s MODON announces USD 1.1bn textile investments. These investments are distributed over 125 industrial contracts in 19 industrial cities, covering a total area of more than one million square meters. According to Al-Argoubi, the textiles and men’s supplies sector is experiencing high growth in the Kingdom.
• October 2022 - Nykaa enters the Gulf nations through its first global partnership with Apparel Group. The Apparel Group of Dubai will hold 45% of the company's shares, while Nykaa will control 55% of the partnership's shares. The Indian cosmetics and clothing store Nykaa recently announced a partnership with the Apparel Group, a fashion and lifestyle retailer with headquarters in Dubai, to expand its presence in the GCC (Gulf Cooperation Council) nations.

• August 2022: Trelleborg AB, a Swedish engineering company, agreed to pay USD 1 billion in cash to buy Minnesota Rubber and Plastics, which is owned by KKR. In 2018, KKR bought Minnesota Rubber and Plastics from Norwest Equity Partners, which was also a private equity firm.
• August 2022: Huntsman Corporation said it had reached a final agreement with Archroma, a company owned by SK Capital Partners, to sell its Textile Effects division. The total enterprise value of the deal is about USD 718 million. This includes USD 125 million in net underfunded pension liabilities as of December 31, 2021, which will be taken on by the buyer.

• April 2023: AM Mining, a joint venture between Arcelor Mittal Luxembourg and Nippon Steel Corporation, Japan to acquire Indian Steel Corpn for INR 897 crore. The acquisition of Indian Steel Corporation will likely enhance downstream capabilities and broaden its product portfolio as the company looks to capitalize on market opportunities presented by the steel industry, especially in high-value-added steel production besides capturing synergies across downstream operations.
• November 2022: AM Mining India completed the acquisition of Uttam Galva Steels. AM Mining India is a joint venture between ArcelorMittal and Nippon Steel. ArcelorMittal is a world-leading steel and mining company based in Luxembourg. Japan's Nippon Steel, on the other hand, is one of the world's leading integrated steel producers.

• September 2023: Kirloskar Ferrous Industries Limited (KFIL), one of the leading castings and pig iron manufacturers in India, announced the acquisition of Oliver Engineering Pvt. Ltd. Oliver Engineering is engaged in the business of ferrous casting and machining with its manufacturing facility located in Village Sandharsi, Tehsil Rajpura, State Punjab. Its present castings capacity is 28,000 MT per annum. KFIL also produces various grades of pig iron such as SG iron grade, basic steel grade, and foundry grade.
• February 2023: Hindustan Aeronautics Limited and Bharat Forge Limited signed an agreement for the development and production of aerospace-grade steel alloys. The memorandum of understanding (MoU) was signed at the Aero India show in Bengaluru.
• January 2023: Auto components maker Bharat Forge Ltd announced that J S Auto Cast Foundry India Private Ltd., its step-down subsidiary, entered into a business transfer agreement with Indo Shell Mould Ltd. (ISML) for acquiring their SEZ Unit at SIPCOT, Erode in Tamil Nadu, for an unspecified amount. This acquisition strengthens JS Auto's presence in the casting sector, expands the product offering and client base, and enhances its footprint in the Indian manufacturing landscape.

• March 2023: DEWALT, a Stanley Black & Decker brand, announced the expansion of its TOUGHSYSTEM® 2.0 storage portfolio with the introduction of three new products - an Adaptor, Deep Compact Toolbox, and 3-Drawer Toolbox - providing users with greater connectivity to other storage modules and convenient access to tools. The new TOUGHSYSTEM® 2.0 Adaptor (DWST08017) allows users to build a versatile and customized storage solution through expanded compatibility.
• March 2023: Hilti announces a strategic partnership with Canvas, a construction robotics company that has developed a robotic drywalling solution aiming to empower people to build in bold new ways. This collaboration brings together leaders in intelligent jobsite robotics who share a common vision: that robotic tools will unlock untapped potential and drive a new era of productivity and safety for skilled trade workers.
• June 2022: Bosch Power Tools launched the GWS12V-30 12v Max brushless 3-inch angle grinder, another addition to grinding technology. GWS12V-30 grinder offers user endurance for handling heavy-duty cutting applications on various jobs and provides optimized gear structure, brushless motor, and fast breaking time to maximize battery runtime.

• March 2023: Phillips Machine Tools announced a strategic partnership with JFY International to broaden its solution portfolio for metal processing customers. JFY International, a member of the TRUMPF Group, is a full-service provider of sheet metal processing solutions, offering CNC bending, punching, shearing, 2D laser cutting machines, and even automation, from a single machine to a fully automated line. Through its partners, JFY International guarantees professional consulting, quick responses, and excellent on-time services.
• December 2022: EIT Manufacturing, the largest innovation community in the industry in Europe, and AMT - Advanced Machine Tools, the new biennial event with the latest innovations in machine tools, machinery deformation, cutting and forming, instruments, components, and accessories, and its auxiliary industry, join forces to foster innovation and digital transformation in the metal industry. By signing this collaboration agreement, EIT Manufacturing, and AMT give industrial manufacturing specialists in Europe access to a world of opportunities.
• September 2022: HELLER Machine Tools announced a strategic partnership with TITANS of CNC, Inc. The key points of the agreement include cooperation in machining technology, process, and practical application. TITANS of CNC agreed to install two 5-axis machining centers into their Texas facility: the HF 5500 with the fifth axis in the workpiece and the CP 6000 with the fifth axis in the tool - and a Round Pallet Storage System.

November 2022: Novolipetsk Steel (NLMK) Lipetsk, one of the main production sites of NLMK Group, Russia's biggest producer of steel and high-valued steel products and steel makers, has upgraded its Blast Furnace No. 3 dedusting system, achieving a 99.9% dust capture rate. As a result of NLMK's ongoing environmental improvements, all of its blast furnaces now have advanced dedusting systems that are on par with the best global technologies.

December 2022: Metalloinvest has completed the modernization of kiln No. 4 at Lebedinsky GOK's pellet plant. The kiln's design capacity has increased by almost 10%, to 2.5 million metric tons of pellets per year. At the same time, gas and electricity consumption have been reduced, which will have a positive impact on production costs.