Indonesia Textiles News

Related General Manufacturing Industry News

Feb 2022: Cotton & Textiles Holding Company partnered with Rieter Group and signed a contract.

Jan 2022: Mediterranean Textile Co. reinvented Giza Cotton to expand its market possibilities and relevance to emerging market trends.

• In Feb 2021, The Indian Government has announced the setting up of seven mega textile parks in the next three years. The government has also decided to rationalize the duties on raw material inputs to manmade textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %.
• In Feb 2021, Paraguay's Ministry of Industry and Commerce announced that it will be investing USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

• February 2023: Huntsman Corporation (NYSE: HUN) announced that it has completed the sale of its Textile Effects division to Archroma, a portfolio company of SK Capital Partners. The agreed purchase price was USD 593 million in cash plus assumed pension liabilities. Huntsman expects the net after-tax cash proceeds to be approximately USD 540 million before customary post-closing adjustments.
• December 2022: India and Canada are negotiating a free trade agreement (FTA) to boost bilateral trade. The Indian textile industry has suggested various rules related to the agreement. The conditions of the proposed FTA will determine if it will help get more export orders. Currently, India’s apparel exports to Canada are negligible.
• August 2022: Huntsman Corporation, an American multinational manufacturer and marketer of chemical products, has announced that Archroma, a global leader in sustainable specialty chemicals and solutions and a portfolio company of the US-based private investment firm SK Capital Partners, has entered into a definitive agreement to acquire the Textile Effects business.

• Jun 2023: In order to expand its production, E and H Precision will set up a new factory. The new factory is called “Factory 3”, which is the fourth location in Thailand. The factory covers an area of 3,500 sqm and houses 24 CNC Lathe Machines with Centerless Grinding Machines and Ultrasonic Wash Machines. The main purpose of the factory is to produce the lathe-turned parts for the automotive transmission as well as the injectors for the Japanese and the United States markets.
• Nov 2022: Middle market private equity firm One Equity Partners announced the acquisition of precision machining service providers Evans Industries Inc. and Little Enterprises LLC by Momentum Manufacturing Group, a leading North American metal manufacturing services provider. The purchases extend Momentum's capabilities, increase the company's exposure to mission-critical end markets, and add close to 160 qualified team members.
• Jan 2022: The Precision Machining division of the Mercedes Benz Truck Factory was purchased by Balu Forge Industries Ltd (BFIL) from Mannheim, Germany. The purchase will be integrated into BFIL's brand-new machining facilities in Belgaum, Karnataka, and will solidify the business's status as a global leader in precision manufacturing. BFIL will also be able to produce crankshafts and other precision machined parts for original equipment producers of class 7 and class 8 trucks and heavy-duty vehicles due to the expansion.

Jun 2022: Vancouver-based BM Group acquired LE Steel Fabricators Ltd. This acquisition will give them the opportunity to enter an existing sector from a different angle while carrying out more substantial repair and restoration operations. Additionally, BM Group's clients benefit from cost reductions, efficiency, and other advantages as a result of its strong financial position and varied portfolio of companies.

Apr 2022: Terex announced the acquisition of Steelweld, a large parts manufacturer based in Northern Ireland. The acquisition of Steelweld will support Materials Processing's growth strategy by increasing its manufacturing capacity in Northern Ireland.

October 2023: Alphacam GmbH, a German provider of 3D printing services, and Evolve Additive Solutions, a Minnesota-based maker of 3D printers, have established a strategic alliance. As a result of this collaboration, Alphacam will provide customers in Europe with parts created using the Selective Thermoplastic Electrophotographic Process (STEP).

October 2023: For applications involving industrial change, Siemens is making available on its Xcelerator marketplace a digital twin for machine tool processing from the German company DMG MORI. The announcement is noteworthy because it unites machine tool maker DMG MORI with industrial juggernaut Siemens, both of whom have their headquarters in Germany and are major players in the global Industry 4.0 game. The latter has worked with the Software AG-led ADAMOS collective and has long been a supporter of cooperative operational technology (OT) solutions.

July 2023: A brand-new, cutting-edge production facility for Mazak India, a division of Yamazaki Mazak Corporation, a well-known global leader in manufacturing technology, was officially opened in Pune. The ceremonial launch of Mazak India's new plant was a huge success and demonstrated the company's dedication to quality, innovation, and client satisfaction. Mazak India is prepared to take the lead in determining the direction of the Indian manufacturing industry's future as the manufacturing journey gets underway.

• July 2023: ArcelorMittal Nippon Steel India( AM/ NS India) - a joint venture between ArcelorMittal and Nippon Steel, two of the world's leading steelmakers - and Festo India, the world's leading manufacturer and supplier of automation technology and specialized education, announced the signing of a Memorandum of Understanding( MoU) at the Festo Corporate Center in Stuttgart, Germany. The cooperation will concentrate on the development of the New Age Makers Institute of Technology( NAMTECH), an ArcelorMittal Nippon Steel India education initiative aimed at delivering an integrated model of high-quality engineering and specialized education, with special emphasis on manufacturing and sustainability. NAMTECH will start operating an interim campus in the Research Park at IIT Gandhinagar, Gujarat, from August 2023.
• September 2022: Tata Group approved the amalgamation of all its metal companies into Tata Steel. The companies to be intermingled into Tata Steel are Tata Steel Long Products( TSLP), Tinplate Company of India Limited( TCIL), Tata Metaliks Limited( TML), TRF Limited( TRF), Indian Steel and Wire Products Limited( ISWP), Tata Steel Mining Limited( TSML) and S&T Mining Company Limited. The scheme of amalgamation is subject to approval from majority shareholders of transferor and transferee companies, competent authorities as defined in each scheme, Securities and Exchange Board of India( SEBI) and stock exchanges piecemeal from other nonsupervisory and government warrants, as per a recent Tata Steel filing.

Feb 2022: Cotton & Textiles Holding Company partnered with Rieter Group and signed a contract.

Jan 2022: Mediterranean Textile Co. reinvented Giza Cotton to expand its market possibilities and relevance to emerging market trends.

• In Feb 2021, The Indian Government has announced the setting up of seven mega textile parks in the next three years. The government has also decided to rationalize the duties on raw material inputs to manmade textiles by reducing the customs duty rate on caprolactam, nylon chips, and nylon fiber and yarn to 5 %.
• In Feb 2021, Paraguay's Ministry of Industry and Commerce announced that it will be investing USD 1.1 million in the manufacturing sector, mainly benefiting the clothing, textiles, and footwear industries, among other areas related to assembly operations.

• In February 2022, Element Six UK Ltd collaborated with II-VI Inc. Through this collaboration, II-VI licenses Element Six's intellectual property and necessary equipment would produce high-quality single-crystal diamonds to expand its core competency in diamond technology.
• In July 2021, Element Six UK LTD and the University of Warwick entered a partnership to develop the next generation of synthetic diamond-enabled technologies. Under this partnership, Element Six applied its renowned expertise and capabilities in advanced material solutions.