Eastman has announced that it has entered into a definitive agreement to embroidery thread yarn acquire Industrias del Acetato de Celulosa S.A. (INACSA), a Spanish producer of cellulosic yarn. The INACSA yarn business and assets are expected to support continued growth of Naia cellulosic yarn for the apparel market and will become part of the global fibres segment supply base. ldquo;With the acquisition of INACSA, Eastman gains a well-respected yarn producer and a European site that will enhance our ability to support the global textiles supply chain. We look forward to welcoming the INACSA employees to the Eastman team,rdquo; Brad Lich, executive vice president and chief commercial officer of Eastman said in a press release.
Subject to receipt of required regulatory approvals and satisfaction of other customary closing conditions, Eastman will acquire the entire yarn business and assets from INACSA, including the plant and assets in La Batllograve;ria, Spain, formulations and intellectual property and customer contracts. The acquisition is expected to be completed in the third quarter of 2019. ldquo;This bolt-on acquisition is consistent with the companyrsquo;s growth strategy and objective of delivering superior value through disciplined and balanced uses of cash for dividend payments, debt repayment, share repurchases, and organic and inorganic growth initiatives,rdquo; Lich added.Conitex Sonoco is set to premiere its new printed barcode and QR code capabilities at the International Textile Machinery Associationrsquo;s (ITMA) 2019 trade show, in hall 7, booth D225. The leading textile and garment technology expo will be held from June 20-26, 2019, at Barcelona. The company manufactures paper cones and tubes for textile yarn packaging. With an already vast combination of colour and design printing options for positive identification, Conitex Sonocorsquo;s barcode and QR code printing capabilities will allow automated textile mills to identify and track specific yarn data from packaging to delivery and beyond, the company said in a press release. Further to the companyrsquo;s mission to offer the finest paper cones and tubes in the textile carrier industry, Conitex Sonoco will also display their dimensionally accurate and perfectly balanced carrier design, trusted to perform flawlessly with the newest spinning technology. Offering a full range of sliver cans for all applications domestically and internationally, Conitex Sonoco will showcase their rectangular sliver can, an ideal design for automated spinning lines, at ITMA 2019. The only manufacturer of sliver cans in the United States, Conitex offers customisable options for their performance grade sliver can line as well as a standard grade option.
Specialists in textile packaging, the company will also display their popular LoadRunner corrugated yarn pallet. Ideal for single-ship and export, the LoadRunner corrugated pallet is lightweight yet durable, eco-friendly and ISPM-15 exempt and features custom cut dividers used to positively locate and secure yarn packages for a quality delivered product every time. ldquo;Conitex Sonoco works diligently to keep our paper cones and tubes at the forefront of the latest technological advances. We are pleased to offer our high-tech customers the ability to add barcode and QR code identification printed directly onto their cones and tubes,rdquo; Michel Schmidlin, COO at Conitex Sonoco said.
In all countries where the technology exists, our ability to meet exceptionally low tolerances coupled with the ability to craft a perfectly balanced textile cone and tube makes Conitex Sonoco the supplier of choice for the fastest spinning machines in the world,rdquo; Agustin Marin, VP of converting at the company said. (GK)
