Home / Knowledge / News / Textiles / Cost reduction boosts polyester fibre producer's morale
Cost reduction boosts polyester fibre producer's morale
08
Oct '10
Wellman International, the manufacturer of polyester fibre has reduced its losses to €2.4 million in the year 2009, owing to the fall in energy costs and increase in its margins. The company has registered a single percent increase in revenue to €102.4 million during last year.

The company's earnings from ongoing operations have showed an increase as a result of the improvement in company's margins, reduction in the energy costs and freezing of labor wages. The company has emerged as the biggest manufacturer of premium polyester staple fibres in Europe. It manufactures polyester fibres using recycled raw materials.

The directors of the company were of the view that even though the energy costs have fallen in 2009, but the rise in prices of raw materials and less expenditure by buyers due to the economic crisis, have brought a number of difficulties for the company in 2010. The company is trying its level best to bring down the costs. It had incurred an operating loss of €2.8 million in 2008 and made an operating profit of €896,000 in 2009.

The company's pretax loss has been estimated at €2.2 million in comparison to €5.1 million in 2008. The loss retained for 2009 is €2.4 million as against a loss of €4.4 million in 2008.

The company utilizes PET bottles as raw materials for its Irish unit, which has the potential of manufacturing over 80,000 tons of fibre every year.

Fibre2fashion News Desk-India

Must ReadView All

Textiles | On 25th May 2017

Huntsman and Clariant to have merger of equals

Huntsman Corporation and Clariant have announced that their boards of ...

Courtesy: CBRE

Apparel/Garments | On 25th May 2017

European cities preferred for retailer expansion: CBRE

European cities were the preferred new destination for international...

Apparel/Garments | On 25th May 2017

Guess records $458.6 million revenue for Q1 2018

For the first quarter of fiscal 2018, the net revenue of American...

Interviews View All

Smith Vaghasia
Sanado India

Online remains the best destination for shopping

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search