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

US merchandise trade with India, 2012–16; Courtesy: USITC

Textiles | On 27th Jul 2017

India becomes US’ 9th largest trading partner in 2016

In 2016, India became the United States’ 9th-largest single-country...

Textiles | On 27th Jul 2017

GST will lead to further increase of MMF prices

The Goods & Services Tax (GST) rolled out on July 1, 2017 is not...

Textiles | On 27th Jul 2017

Global yarn production improved 30% q-o-q in Q1: ITMF

In the first quarter of 2017, global yarn production rose by almost...

Interviews View All

Amardeep Singh
Orient Craft

'In export markets, the trend in terms of embroidery, is towards matte...

Abhimanyu Singh Rathore & Barbara Anna Kosiorek
Kannbar

‘Blending cultures is the true beauty of fashion, where one’s imagination...

Sanjay Yagnik
Maa Tex Speciality

‘We suggest reducing dosage of sizing chemicals to reduce sludge...

Kevin Nelson
TissueGen

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

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Mike Hoffman
Gildan Activewear SRL

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

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

July 2017

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Thanks for your valuable feedback. Claim your free latest sustainability e-book.


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



X