d.gen Inc, Korea’s leading manufacturer of inkjet printing systems, is launching a new range ofPapyrus 740K printers at KoSign 2017 using Xaar 1201 printheads. The new printers are optimisedforprintingdye sublimation and blue back paper, and will be available for d.gen’s Korean and European customers.

 

Using six Xaar 1201 printheads for printing up to six colours, the new Papyrus 740Kprinters are capable of a1880mm print width and print speeds of up to 80 m2/h at 1200 dpi, 55 m2/h at 1800 dpi  and 40 m2/h at 2400 dpi. In addition, they come equipped with a mini-jumbo roll feeder designed with flexible tension control and a strong dryer incorporated to prevent contamination. Users looking for easy print controlwill find the touch panel of the Papyrus 740Ka useful feature, plus there is a fully integrated feeder, ‘take-up’ and dryer.

 

“We are delighted to be launching a new range of our trusted graphics and textile Papyrus 740K printers using Xaar 1201 printheads,” commentsd.gen's President & CEO, Mr. Kilhun Lee.  “We chose the Xaar 1201 printhead as it provides us with complete flexibility. It can print up to sixcolours and is compatible with a wide range of aqueous inks, such as graphic pigment, textile pigment, disperse dye and dye sublimation. In addition, it also provides very high productivity compared to other printheads in the market.”

 

Since its launch at drupa2016, take up of the Xaar 1201 printhead has been extremely good.  “I’m delighted to be present for the launch of d.gen’s new printer range with Xaar 1201 printheads,” adds Simon Kirk, Senior Product Manager at Xaar. “Customers in a number of markets are already benefiting from the very best combination of photo quality and productivity at an affordable cost delivered by the Xaar 1201. I’m delighted that d.gen’s customers in Korea and beyond are now also able to access these advantages.”

 

About the Xaar 1201

 

The Xaar 1201 is a versatile and compact greyscale printhead. It prints 1, 2 or 4 colours, delivers a high level of quality and performance, and is capable of handling aqueous and eco-solvent inks. Designed for easy integration by printer manufacturers, the Xaar 1201 features 1280 nozzles jetting variable drop sizes to produce high quality graphics on a wide range of substrates at an apparent resolution of up to 1440dpi.

 

Revitalizes the male grooming product portfolio 

  •  Under ‘One Park Avenue’, the brand to extend its global presence
  •  Unified premium imagery across products and markets 
  • Reviving Middle-East footprint and to be available in Bangladesh and Nepal
  •  Phase 2 expansion will cover other South Asian markets in the next six months 
  • Launches new Eau De Parfum with a new campaign – ‘Unleash your X Factor’
  • Targets to be the No. 1 player in the fragrance category

 

 

 

 

 

 

Raymond Group, the leading manufacturer, marketer and retailer of worsted suiting fabrics and ready-to-wear apparel, today announced ‘One Park Avenue’, a customer facing initiative for Park Avenue’s range of men’s grooming products. Resonating with the confident young male of today, One Park Avenue will entail a distinct brand, product and an aggressive Go-to-market strategy. The brand will soon make its way to international markets such as the Middle-East, Bangladesh and Nepal, with a phase 2 plan to enter South Asian markets of Sri Lanka, Bhutan and Myanmar in the next six months.

 

The men’s grooming category is undergoing a transformation and expanding into multiple formats and sub-formats. Park Avenue is seen as a mature and sophisticated brand that is recognized as a pioneer in the male grooming space.Under the One Park Avenue initiative, the brand will have synergies in terms of a Unified Visual Identity, repositioning itself with a wider grooming portfolio, premium international packaging and innovative products. The overall brand architecture will have blue, white and black colours across product categories. Additionally, the entire range will be available through exclusive brand outlets of Park Avenue apparel along with other sales & distribution channels across India and International markets. 

 

 

Launching the initiative Gautam Hari Singhania – Chairman & Managing Director, Raymond Ltd. said, “Changing customer preferences, improved lifestyles and growing consciousness among male consumers, presents us with huge opportunities in the FMCG space. After the acquisition of Ansell’s stake earlier this year, One Park Avenue is yet another significant step that will strengthen our FMCG play both nationally and internationally, which is an important driver for value creation for the Raymond group and an integral part of the Raymond Re-Imagined journey.

 

 

One Park Avenue is being led through the introduction of a new range of fine fragrances and new positioning statement “Unleash your X factor”. The new Eau De Parfums are masterblended by global perfumers with exotic ingredients and are available in 50ml and 100ml priced at Rs 399 and Rs 699 respectively.   

 

Commenting on this initiative and exciting prospects for the FMCG business, Giriraj Bagri, CEO – FMCG Business, Raymond Ltd. said “At Raymond we are leveraging synergies across our FMCG businesses to create a strong and monolithic FMCG play in our core categories. Simultaneously we are also utilizing cross organizational expertise to bring in efficiencies and cost optimization to help us invest more aggressively towards newer initiatives such as ‘One Park Avenue’. The idea of One Park Avenue is built on unique consumer insights backed by strong innovation that will drive consumer acquisition and enhance consumer relevance for our lead brand Park Avenue. Going forward, we hope to clock exponential growth and hence a coherent unified premium imagery and identity of Park Avenue has been created for offering the same product experience globally.”

 

 

RAYMOND GROUP’s FMCG PRESENCE  

Raymond announced the formation of its FMCG Group in 2016, with a vision to be a player of choice in the world of consumer goods, offering high quality products in both the Personal and Home Care categories. 

 

Raymond’s FMCG business currently has a strong retail presence through 0.25 million retail outlets, including 90,000 pharmacies in the country and also exports to South East Asia, Middle East and Africa. Given the strong hold in institutional sales, the business is a preferred supplier to over a 100 institutions in the country. Raymond Group recently acquired Ansell’s stake in brand KamaSutra, from joint venture entity JK Ansell Pvt. Ltd. This acquisition will pave the way for Raymond to further scale up the FMCG Business and unlock the immense potential of Brand KamaSutra globally. 

 

About Raymond Limited

Raymond is India’s largest integrated worsted suiting manufacturer that offers end-to-end solutions for fabrics and garmenting. Over the years, Raymond has been synonymous with quality, innovation and market leadership. It has some of the leading brands within its portfolio – Raymond Ready To Wear, Park Avenue, ColorPlus, Parx, Raymond Made To Measure amongst others. Raymond has one of the largest exclusive retail networks in the country with over 1000 stores across 400 towns. 

 

As a part of the diversified Group, we also have business interests in men’s accessories, personal grooming & toiletries, prophylactics, engineering and auto components across national and international markets. Having enjoyed the patronage of over a billion consumers, Raymond as a brand has been consistently delivering world class quality products to its consumers over the past nine decades. 

 

 

Visit us today at https://raymondnext.com/ to witness how we cater to the needs of 'The Complete Man'.  

 

Xaar, the world leader in industrial inkjet technology, is pleased to announce that its company Engineered Printing Solutions (EPS) has today, at InPrint 2017,signed COMEC Italia as European distributor for its full range of digital print products.

 

 

The new agreement will take full advantage of the existing relationship between EPS and COMEC, and builds on COMEC’s strong position in product printing in Europe to drive the digital conversion of product print and decoration.

 

 

The agreement, which was signed by Edgardo Baggini, MD of COMEC, and Julian Joffe, President of EPS,includes the new cylindrical object printer from EPS which had its European launch at InPrint 2017. This is a multi-colour, UV-LED, high-resolution system offering state-of-the-art digital printing technology including Xaar 1003 printheads.

 

 

This new printer from EPS is designed specifically for decorating cylindrical objects in vertical mode – including those that are flat walled or tapered – and is therefore the ideal printer for companies producing promotional products or cosmetics,craft brewers, wineriesand also other industries looking to offer their customers a short run option at high production rates of an average of 800 parts per hour (pph).

 

COMEC, based inCavaria, north-west of Milan, employs 64 people and has over 4000 sq m of manufacturing facilities,with a separate area for its digital printer business. The announcement builds on a 30-year relationship between both businesses, as EPS has been a distributor of COMEC pad print machinery in the US since 1985.

 

“We are delighted to announce that COMEC has become our distributor across Europe,” says Julian Joffe. “As a major player in the print machinery sector, they will be able to pass on the many advantages available through EPS product printing expertise, and provide a great return on investment for manufacturers in search of a direct-to-product printing system.”

Thursday, 16 November 2017 04:10

A.T.E. at Techtextil 2017

 

 

A.T.E. along with its principals showcased their capabilities to offer the latest technology solutions in technical textiles at the Techtextil India 2017 held at Mumbai from 13 to 15 September. Truetzschler Nonwovens (Germany), Karl Mayer (Germany/ Switzerland), LUWA (Switzerland/ India), Monforts (Germany), Mahlo, (Germany), Zimmer (Austria), and Guarneri Technology (Italy)had participated in the exhibition from the nonwovens, technical textiles, and processing sectors.

 

Truetzschler Nonwovens highlighted its capabilities to offer solutions applicable from razor thin hygienic webs to noise absorbent mats. Truetzschler Nonwovens provide customised solutions in fibre opening, web formation, web bonding, finishing, winding, and drying.

 

Karl Mayer’s stand at Techtextil, Mumbai featured an impressive presentation and had fabric samples of a future building material made of textile-reinforced concrete. This composite enables lightweight, narrow concrete components to be produced using tough, carbon-fibre grids. The weft-inserted, warp-knitted textiles for the reinforcement are produced on Karl Mayer’s machines.

 

 

Monforts highlighted the 8500 TT stenter model and texcoat ranges.  Zimmer focused on the variocoat for multiple coating lines.   Mahlo exhibited the competency of weft straighteners suited for handling technical textile webs. Guarneri Technology highlighted the partnership of Voith with Guarneri in supplying Nipco technology rolls in its calendars and the exclusive tie-up with Voith for calendars highly suited for filtration fabrics, parachute fabrics, and various other technical textile end uses. Various finishing samples were shown to customers processed from TT, I, L and Y type calendars.

 

Customers like Ginni Filaments, Sutlej, Ruby Mills, Arvind ,Venkatalakshmi, Theni Guru Krishna, BKS, Oriental, Welspun, Indo Count, etc., visited the A.T.E. stall,  and showed a great deal of interest in the products and technologies offered by A.T.E.’s principals. 

 

 

The impressive footfalls and a large number of intensive technical discussions at the show is a sure sign of the growing interest of the Indian textile industry to seize the emerging opportunities in the technical textile sector, which is expected to grow at 12 per cent per annum to reach $23 billion by 2020 from the present $18.16 billion. The demand for technical textiles is expected to grow steadily during the period 2017-2020, due to broadening applications in end-use industries, such as automotive, construction, healthcare, and sports equipment and so on.

 

 

 

 

Thursday, 16 November 2017 04:01

Interactive Meeting on Protech

 

 

The Indian Technical Textile Association (ITTA) members have interactive meeting on PROTECH with NITRA on November 3, 2017 at NITRA, Ghaziabad. Shri Basant Lohia, Director, Tarasafe International Ltd. was the chief Guest.

 

Dr. Arindam Basu, DG NITRA made the presentation on NITRA activities and research & development  work recently carried out by NITRA. Dr. MS Parmar Joint Director (A) also presented the work related to COE and various developments in this field.

 

ITTA members discussed the areas where NITRA & ITTA can work together in the field of technical textiles particularly testing & evaluation services and CE Licensing. Members also requested for development of standards on technical textiles and their release from BIS, which can satisfy domestic as well as international requirements in fast manner. Sh. Mahesh Kudav, Venus Health & Safety and other ITTA members also needed support of NITRA in making use of technical textiles / PPEs mandatory as safety gears by the Government particularly labour department in various hazardous industries like cement / chemical etc. ITTA members were very much impressed about  the facilities available at NITRA specially in the field of protective and automotive textiles.  

 

Dr. Arindam Basu assured them the best services from NITRA and  all concerns raised by the ITTA members will be addressed by NITRA.    

 

 

 

 

SHRI ANANT KUMAR SINGH

Secretary (Textiles)

Ministry of Textiles

Government of India

Udyog Bhawan

New Delhi

 

Dear Sir,

 

Sub: Current challenges being faced by the Manmade fibre sector under the GST regime- reg

 

 

This has reference to the above mentioned subject on which the Ministry of Textiles and Ministry of Commerce and Industry, Government of India have been consulting with industry stakeholders and receiving their views.

 

At the outset, I would like to thank and congratulate you in connection with the recent increase of the effective duties on imports of fabrics. Your pro-industry initiative will protect the domestic segment from cheap imports and expand the domestic market for the local manufacturers. 

 

I would also like to bring to your kind notice and perusal of some of the anomalies under the GST regime and the difficulties being faced by the exporters which are as follows:

 

(i) GST Anomaly on inputs (Manmade Fibres) @ 18% and outputs (Yarns) @12%

 

Currently, GST on fibres is 18% whereas on the yarn stage it is 12% thereby creating accumulation of Input Tax Credit of 6% which remains unrebated. This has been creating an additional cost burden on the exporters post GST. Therefore the Council requests for reduction of GST on Manmade Fibres from 18% to 12% so that the Input Tax paid on Manmade fibre can be fully set-off at yarn stage.

 

 (ii) Unduly slow Refund process

 

As per the Section 16 of the IGST Act, 2017 the provisional refund of 90% of total refund claim should be paid within 7 days after giving the acknowledgement of the refund application.

 

Whereas the current GST refund procedure is extremely slow. After the sending the goods from manufacturing units to Customs, it takes about 7 days for Customs clearance and have “Let Export” orders. Another 7 days will be taken for getting the shipping bills generated/ signed from the Customs department. Post shipment exporters have to file returns in GSTR – 1 and after that they have to apply for GST refund through one of the existing 2 procedures of either paying IGST or without paying IGST by submitting Bond or LUT in Form GSR RFD – 11. For issuing the acknowledgement of the refund application, it takes 14 to 21 days. As per the existing procedure, the refund will be affected only after 7 days from the date of issuing of Refund Application Acknowledgement. This entire procedure takes almost 45 to 60 days time.

 

This has blocked substantial amount of working capital and creating problem of liquidity shortage with the exporters for maintaining their existing business. GST refund on Exports which had taken place/executed in July 2017 has not been fully refunded yet. Hence, it is requested that Government should devise appropriate mechanism to shorten the procedure and expedite disbursal of the GST refund to the exporters.

 

(iii) Accumulation of huge unrebated Input Tax Credit (ITC)

 

12% GST on yarns and 5% on Fabrics has created huge accumulation of unrebated ITC at fabrics stage.  This has been creating an additional cost burden with the weavers post GST and also increasing the cost of fabrics making these fabrics uncompetitive. Section 54 (3) of the CGST Act 2017 allows refund of unutilised ITC in the case of (a) zero rated supplies made without payment of tax and (b) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies. Government should address this anomaly urgently to encourage the MMF textile segment.

 

 (iv) Inadequate Duty Drawback Rates to the MMF textile products

 

Post-GST, there are various duties such as transmission charges, electricity duty, cross subsidy on electricity bills, water cess, LBTs, road tax, labour cess, etc. which are not subsumed with GST. Average percentage of such duties/ taxes of the MMF textiles is over 5% which are unrebated. Current Duty Drawback rates are deficient to the taxes/duties paid by the exporters in this segment. Therefore it is requested that Government should consider revising the DBK rates suitably.

 

It is hoped that you will agree with the above mentioned issues and therefore request you to kindly recommend favourably to appropriate authorities for addressing the above anomalies suitably in the interest of the MMF sector. Your kindness and support will go a long way in shaping the future of the Manmade fibre textiles segment in the country.

 

Thanking you.

 

Yours faithfully,

 

SRI NARAIN AGGARWAL

CHAIRMAN

 

C.C.    1.         SMT. PUSHPA SUBRAHMANYAM

                        Additional Secretary

Ministry of Textiles

Government of India

Udyog Bhawan

New Delhi

 

2.         SHRI SUBRATA GUPTA

Joint Secretary

Ministry of Textiles

Government of India

Udyog Bhawan

New Delhi

 

3.        MS. ADITI DAS ROUT

Trade Adviser

Ministry of Textiles

Government of India

Udyog Bhawan

New Delhi

 

 

Ref. CH/ MOC /98                                                                       2nd November, 2017

 

MS. RITA TEAOTIA

Secretary (Commerce & Industry)

Ministry of Commerce and Industry,

Udyog Bhavan,

New Delhi

  

Respected Madam,

 

Sub: Current challenges being faced by the Manmade fibre sector under the GST regime- reg

 

 

This has reference to the above mentioned subject on which the Ministry of Textiles and Ministry of Commerce and Industry, Government of India have been consulting with industry stakeholders and receiving their views.

 

At the outset, I would like to thank and congratulate you in connection with the recent increase of the effective duties on imports of fabrics. Your pro-industry initiative will protect the domestic segment from cheap imports and expand the domestic market for the local manufacturers. 

 

I would also like to bring to your kind notice and perusal of some of the anomalies under the GST regime and the difficulties being faced by the exporters which are as follows:

 

(i) GST Anomaly on inputs (Manmade Fibres) @ 18% and outputs (Yarns) @12%

 

Currently, GST on fibres is 18% whereas on the yarn stage it is 12% thereby creating accumulation of Input Tax Credit of 6% which remains unrebated. This has been creating an additional cost burden on the exporters post GST. Therefore the Council requests for reduction of GST on Manmade Fibres from 18% to 12% so that the Input Tax paid on Manmade fibre can be fully set-off at yarn stage.

 

 

(ii) Unduly slow Refund process

 

As per the Section 16 of the IGST Act, 2017 the provisional refund of 90% of total refund claim should be paid within 7 days after giving the acknowledgement of the refund application.

 

Whereas the current GST refund procedure is extremely slow. After the sending the goods from manufacturing units to Customs, it takes about 7 days for Customs clearance and have “Let Export” orders. Another 7 days will be taken for getting the shipping bills generated/ signed from the Customs department. Post shipment exporters have to file returns in GSTR – 1 and after that they have to apply for GST refund through one of the existing 2 procedures of either paying IGST or without paying IGST by submitting Bond or LUT in Form GSR RFD – 11. For issuing the acknowledgement of the refund application, it takes 14 to 21 days. As per the existing procedure, the refund will be affected only after 7 days from the date of issuing of Refund Application Acknowledgement. This entire procedure takes almost 45 to 60 days time.

 

This has blocked substantial amount of working capital and creating problem of liquidity shortage with the exporters for maintaining their existing business. GST refund on Exports which had taken place/executed in July 2017 has not been fully refunded yet. Hence, it is requested that Government should devise appropriate mechanism to shorten the procedure and expedite disbursal of the GST refund to the exporters.

 

(iii) Accumulation of huge unrebated Input Tax Credit (ITC)

 

12% GST on yarns and 5% on Fabrics has created huge accumulation of unrebated ITC at fabrics stage.  This has been creating an additional cost burden with the weavers post GST and also increasing the cost of fabrics making these fabrics uncompetitive. Section 54 (3) of the CGST Act 2017 allows refund of unutilised ITC in the case of (a) zero rated supplies made without payment of tax and (b) where the credit has accumulated on account of rate of tax on inputs being higher than the rate of tax on the output supplies. Government should address this anomaly urgently to encourage the MMF textile segment.

 

 

 

 

 

 

 

 

 

(iv) Inadequate Duty Drawback Rates to the MMF textile products

 

Post-GST, there are various duties such as transmission charges, electricity duty, cross subsidy on electricity bills, water cess, LBTs, road tax, labour cess, etc. which are not subsumed with GST. Average percentage of such duties/ taxes of the MMF textiles is over 5% which are unrebated. Current Duty Drawback rates are deficient to the taxes/duties paid by the exporters in this segment. Therefore it is requested that Government should consider revising the DBK rates suitably.

 

It is hoped that you will agree with the above mentioned issues and therefore request you to kindly recommend favourably to appropriate authorities for addressing the above anomalies suitably in the interest of the MMF sector. Your kindness and support will go a long way in shaping the future of the Manmade fibre textiles segment in the country.

 

Thanking you.

 

Yours faithfully,

 

 

SRI NARAIN AGGARWAL

CHAIRMAN

 

 

 

Visited the Aditya Birla Group Textile Research Application Development Centre at Kharach in Gujarat-

 

 - Met with Mr. Dilip Gaur Managing Director Grasim, Mr. Vinod Tiwari COO Grasim, of the Aditya Birla group in Mumbai-

 

-Visit aimed at strengthening cooperation between India and Sweden in the area of smart textiles-

 

-Visit is a follow up to the joint statement by Prime Minister Stefan Löfvén and Prime Minister Modi and its implementation in the areas of innovations and research-

 

-Additionally explore areas for collaboration in the dairy sector and food safety -

 

 Mr. Sven-Erik Bucht Minister for Rural Affairs from the Ministry Of Enterprise And Innovation Sweden arrived in Mumbai today to discuss a joint project on smart textiles involving potentially Aditya Birla Group, Swedish company Domsjö and the two governments as well as the EU.

 

The Minister visited the Aditya Birla Group Textile Research Application Development Centre at Kharach, in Gujarat which is India's pioneer in viscose staple fibre (VSF), a man-made, bio-degradable fibre with characteristics akin to cotton. The prime aim of this visit is to boost development on smart textiles from using viscose staple fibre (VSF), cellulosic fibre and pulp as an alternative to cotton and hence the Aditya Birla group is a natural fit with its easily blendable cellulosic fibre.

 

Mr. Bucht also met with Mr. Dilip Gaur Managing Director Grasim, Mr. Vinod Tiwari COO, pulp and fibre business Grasim (Adity Birla Group) in Mumbai to discuss an innovative project and how to best to keep up with the growing demand for textiles with an alternate sustainable solution to cotton. The minister will also discuss the current efforts to create a circular bio-economy in Sweden and its benefits. Special emphasis will be given on how sustainable production of biomass can increase its use within a number of different sectors of society. The objective is to reduce climate effects and the use of fossil-based raw materials and to launch a discussion on a smart way of living without using up the earth’s finite resources.

 

Sweden strongly believes that the textile industry is about to take a giant step from being a supplier of fabrics to becoming a positive force in the development of a responsible society. Sustainable textiles are necessary to improve people’s everyday lives, the health care sector and the environment. It takes an open environment where people from many different backgrounds can meet, get involved and collaborate to find a sought-after solution and this is exactly what we are hoping for from this visit by coming together for the betterment of the society and lessen the environmental impact of the textile industry.

 

The visit is part of the follow up to the joint statement by Prime Minister Stefan Löfvén and Prime Minister Modi and its implementation in the areas of innovations and research. It is also a follow up to the Make in India event in Stockholm where Mr. Dilip Gaur, MD & Head Pulp and Fibre Grasim Industries (Aditya Birla Group) were a part of the Indian delegation led by Mr. Suresh Prabhu

 

 

Minister of Commerce & Industry of India, which aimed at exploring synergies and avenues of partnership between Indian and Swedish industries.

 

Speaking about the collaboration between India and Sweden, Consul General for Sweden Ms. Ulrika Sundberg said “It is inspiring to see the broad range of engagement between Sweden and India particularly Maharashtra, stretching from business and infrastructure to environment, health, skills development, culture and in this instance smart textile. Textile and other closely related industries today have an important challenge when it comes to R&D and production in an environmentally friendly and socially responsible way. With a joint project on smart textiles we will prioritize the environment and work actively to integrate this in all parts of the production line. For us, sustainability, durability, quality and functionality are all important factors for developing a circular bio-economy and I truly hope this visit enhances cooperation in tackling the same for a sustainable and healthy future”

 

Speaking about his visit, Minister Sven-Erik Bucht said “We are keen to explore the possibility of a joint project within the area of smart textiles using viscose staple fibre (VSF), cellulosic fibre and pulp as an alternative to cotton. Together, we need a broader approach to address the challenge of climate change and we would like to share our experiences, thoughts and ideas about the practice of a circular bio economy which will help us assume our common responsibility to the environment. My visit to the Aditya Birla group is a part of the bilateral ambition to increase cooperation and trade as well as create synergies and partnerships between the two countries.  The Swedish government is heavily involved in developing textile based on sustainable raw materials and we are very interested in supporting the further development of a globally successful textile industry. This in turn will help create jobs in both countries and will also lead to a sustainable and healthy future”

 

Apart from Mumbai and Gujarat Minister Bucht will also visit Pune tomorrow and meet with Swedish companies followed by a round table discussion with i.a. Alfa Laval, DeLaval and Tetra Pak on challenges and opportunities of the food processing and dairy sector as well as its export potential. In the evening he will attend a networking dinner hosted by the Consulate General in Pune

 

 

About The Consulate General of Sweden: Established in September 2012, the jurisdiction of the Swedish Consulate General covers Maharashtra, Gujarat and Goa – an area comprising of 173 million people. The Consulates major role in India is to develop bilateral trade relations and also grow finer insights into the Indian system through a gamut of institutions and representatives from varied industries and the regional governments. Its prime aim is to broaden and deepen this coalition with special emphasis on trade and investments. It also focuses on spreading information on Swedish innovations, technologies and services and how they could benefit India. The Consulate works closely with the Embassy of Sweden in Delhi, Business Sweden and the Swedish Chamber of Commerce as Team Sweden to help liaise and increase business contacts between Swedish and Indian companies within certain strategic sectors, such as Energy & Environmental Technology, Health Care & Life Science and ICT. 

 

Boutique Living introduces Fahrenheit sheets, for the first time ever in India, with a break through patented technology called Outlast. These fine quality sheets are made using 360 TC, which is the most balance fabric construction.

 

Every night, human body undergoes a notable temperature change which sometimes causes discomfort while sleeping This interesting technology is induced in the fabric to enable absorption and release of heat, enabling temperature control, acting differently on 2 different users in the same environment with different body needs, for comfortable sleeping.. The Fahrenheit sheets are the most advisable option after a hard day’s work, earn yourselves those eight hours of undisruptive sleep. Add Fahrenheit sheets to your daily needs, for a healthy sleep.

 

The Fahrenheit sheets use a technology called Outlast®, imported from USA, made up of thousands of microscopic “beads” called Thermocules™. Each one of these Thermocules™ is designed to absorb, store, or release heat based on your ideal sleeping temperature. This technology was devised for nasa, with the intention to provide comfortable sleep support for space users.  As human skin temperature increases, the technology will absorb that excess heat to reduce overheating. The technology will then store the excess heat away from your body until your skin temperature begins to drop. When this occurs, the stored heat is released back to keep you at perfect temperature. What you get is a an undisrupted night’s sleep with bedding that helps you sleep cooler, sweat less, and wake up feeling refreshed. 

 

Fahrenheit is designed to automatically adjust each sleeper’s ideal skin temperature. With the unique ability to react to each sleeper's comfort needs enabling temperature control, Boutique Living bed linen ensures that both you and your partner will sleep comfortably all night long.

 

 

 

·         Sales up 25 percent to EUR 2.4 billion

 

·         EBITDA pre exceptionals increased significantly by 35 percent to EUR 347 million

 

·         EBITDA margin pre exceptionals increased to 14.4 percent

 

·         Net income pre exceptionals grew by EUR 29 million to EUR 106 million

 

·         Guidance for the full year 2017 refined and lower end of range lifted: EBITDA pre exceptionals between EUR 1.25 billion and EUR 1.3 billion expected

 

Following an excellent third quarter of 2017, specialty chemicals company LANXESS is still on course for the highest earnings in its history.



Global sales increased by 25.1 percent or EUR 483 million to EUR 2.4 billion. A year earlier, they amounted to EUR 1.9 billion. EBITDA pre exceptionals improved by 35 percent to EUR 347 million, compared with EUR 257 million in the prior-year quarter. The contributions from the acquired Chemtura businesses as well as higher volumes had a particularly positive effect. The EBITDA margin pre exceptionals in the third quarter of 2017 stood at 14.4 percent, which was considerably above the value of 13.4 percent reported in the prior-year period. 



“LANXESS is in full swing. Our clear strategic focus on high-margin specialty chemicals is increasingly paying off, and in operational terms we are performing very well in our new setup. It is particularly pleasing that all regions and all our specialty chemicals segments are seeing considerable earnings growth,” said Matthias Zachert, Chairman of the LANXESS Board of Management. 



Due to one-time exceptional charges, net income was EUR 55 million, after EUR 62 million in the prior-year quarter. These one-time effects resulted primarily from the consolidation of the production of lubricant precursors and the associated discontinuation of production at the Ankerweg site in Amsterdam (Netherlands). Net income pre exceptional increased by 37.7 percent to EUR 106 million, compared with EUR 77 million in the prior-year quarter. 



After the strong figures of the third quarter, the Group is refining its earnings forecast for 2017 and lifting the lower end of the range by EUR 25 million. LANXESS now expects EBITDA pre exceptionals of between EUR 1.25 billion and EUR 1.3 billion. This would be a record for the Cologne based company, as its highest operating result to date is the roughly EUR 1.2 billion achieved in 2012.



Continuous portfolio management

After the consolidation of production of chrome chemicals and lubricant precursors, LANXESS drives the announced optimization of its portfolio. The Group sold the non-core business with chlorine dioxide disinfectant solutions to the Canadian Superior Plus Corp. The chlorine dioxide business, with its headquarters in North Kingstown, USA, and around 40 employees, was part of the Clean & Disinfect division acquired from Chemours in August 2016. 



Sales substantially higher year on year across all segments

Sales of the 
Advanced Intermediates segment in the third quarter of 2017 were EUR 479 million, 10 percent or EUR 44 million above the prior-year figure of EUR 435 million. EBITDA pre exceptionals increased by nearly 5 percent or EUR 4 million to EUR 87 million, compared with EUR 83 million a year earlier. Higher volumes in the Advanced Industrial Intermediates business unit had a particularly positive effect. The EBITDA margin pre exceptionals was 18.2 percent, against 19.1 percent in the previous year. 



Sales in the new 
Specialty Additives segment climbed by a very significant 124 percent or EUR 265 million to EUR 478 million, compared with EUR 213 million in the previous year. EBITDA pre exceptionals amounted to EUR 77 million up EUR 42 million or 120 percent on the prior-year level of EUR 35 million. This substantial earnings increase was mainly due to the integration of the Chemtura additives business. The EBITDA margin pre exceptionals of 16.1 percent was slightly below the prior-year level of 16.4 percent.



Sales in the 
Performance Chemicals segment rose by 11 percent or EUR 36 million in the third quarter of 2017 to EUR 364 million, against EUR 328 million a year earlier. EBITDA pre exceptionals advanced by EUR 9 million or 16.1 percent to EUR 65 million, compared with the prior-year level of EUR 56 million. All business units increased their sales volumes. The Clean and Disinfect specialties business acquired in the previous year made a significant contribution to the good earnings. The EBITDA margin pre exceptionals increased to 17.9 percent from 17.1 percent previously.



In the 
Engineering Materials segment, sales increased by 36.6 percent or EUR 94 million to EUR 351 million, up from EUR 257 million a year earlier. EBITDA pre exceptionals increased by a considerable EUR 22 million or 52.4 percent to EUR 64 million, compared with EUR 42 million a year earlier. In the High Performance Materials business unit, the positive earnings development resulted from higher volumes and the trend toward higher-margin products. The high-margin urethane business acquired as part of the Chemtura acquisition also contributed to the earnings increase. The EBITDA margin pre exceptionals was 18.2 percent, up from 16.3 percent in the prior-year quarter.



In the 
ARLANXEO segment, sales increased by around 6 percent or EUR 42 million to EUR 717 million, up from EUR 675 million a year earlier. EBITDA pre exceptionals amounted to EUR 76 million, 17 percent or EUR 15 million down on the comparative figure of EUR 91 million. The decline in earnings was due to the significant volatility of raw material prices and a weak US dollar. The EBITDA margin pre exceptionals was therefore 10.6 percent, against 13.5 percent a year earlier.

 

Q3 2017 Key Data (figures in EUR million)

 

 

 

 

 

 

 

 

Q3 2016

 

 

Q3 2017

 

 

Change in percent

 

 

Sales

 

 

1,921

 

 

2,404

 

 

25.1

 

 

EBITDA pre exceptionals

 

 

 257

 

 

 347

 

 

35.0

 

 

EBITDA margin pre exceptionals (percent)

 

 

13.4

 

 

14.4

 

 

 

 

 

Net income pre exceptionals

 

 

77

 

 

106

 

 

37.7

 

 

Net income

 

 

62

 

 

55

 

 

(11.3)

 

 

Earnings per share pre exceptionals (EUR)

 

 

0.84

 

 

1.15

 

 

37.7

 

 

India’s apparel exports has shown a decline of 39 %( in US$ terms) for the month of October’17.There has been an overall decline of 5.94% in the exports of apparels from India as per the data released yesterday. AEPC has indicated earlier about the decline in exports in the coming days on account of the issues which have arose after the implementation of GST.

 

In the wake of dwindling apparel exports, AEPC has been engaging with the policy makers for an early resolution of the issue which is hampering the apparel industry, post GST roll out. It has already made several presentations to the Ministry of textile, Drawback Committee, NITI Aaayog, Parliamentary Standing Committee etc. As part of its outreach strategy, an AEPC delegation led by its Chairman Mr. Ashok Rajani met Chief Economic Advisor (CEA), Dr. Arvind Subramanian today to express concern on the decline of exports, post GST rollout. In his meeting with the Chief Economic advisor, Mr. Rajani informed him that for the period of Jul-Oct, overall exports have declined by 6% which is mainly on the account of sharp reductions in the effective drawback rate and RoSL rate and has not only reduced the total reimbursements of duties for the sector but has also affected the export prospects of the apparel sector drastically. 

 

Talking about his meeting with the CEA, Dr. Arvind Subramanian, Mr. Ashok Rajani Chairman, AEPC said, “For the period of Jul-Oct, there has been a drastic decline of 5.94% in the overall exports of apparels from India.  The apparel export industry has been severely handicapped by the sharp reductions in the effective drawback and RoSL rates. The drawback mechanism prior to the GST reimbursed both the customs duties and domestic taxes like central excise and service tax but after the implementation of the GST, the drawback rates are now only reimbursing the customs duties and for other duties the argument that is advanced is that those duties would be available as part of the credit chain”.


 “The important point is the principle of reimbursement of domestic non-GST and GST central taxes in addition to customs through the drawback mechanism. This requires an amendment in the drawback rules to provide for reimbursement of GST duties. We therefore urged Dr. Subramanian that pending these legislative changes, the total duty reimbursements to the apparel sector be retained at pre-GST stage of 7.5%drawback without input tax credits, plus 3.5% of RoSL. These pre-existing levels of reimbursement through the drawback and the RoSL routes may be maintained upto 31 March, 2018 to provide immediate relief to the reeling apparel sector”, informed Mr. Rajani.

 

In its meeting with the CEA, AEPC delegation informed him about the recommendation of the Drawback Committee for a composite rate for apparel sector without GST credits as an option. The AEPC delegation requested the CEA for an early expedition of the issue of composite rate for apparel sector as the move will benefit a large number of small scale exporters.

 

Earlier, in its   presentation to the Parliamentary Standing Committee, AEPC has asked for the extension of exemption of IGST on import under EPCG or Advance Authorization from 31st March, 2018 to December, 2018 to provide a longer window for investment decisions.

 

About Apparel Export Promotion Council (AEPC)

Incorporated in 1978, AEPC is the official body of apparel exporters in India that provides invaluable assistance to Indian exporters as well as importers/ international buyers who choose India as their preferred sourcing destination for garments. In recent years AEPC has worked tirelessly in integrating the entire industry - starting at the grass root level of training the workforce and supplying a steady stream of man power to the industry; identifying the best countries to source machinery and other infrastructure and brokering several path breaking deals for its members and finally helping exporters to showcase their best at home fairs as well as be highly visible at international fairs the world over. With AEPC's expertise and all the advantages that India has, it makes for a truly win-win situation - Indian exporters grow stronger each year in their achievements, skills and proficiency, while international buyers get superior solutions for their garment imports.

 

Web site: http://www.aepcindia.com/

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