Home / Knowledge / News / Textiles / Propex Fabrics Inc net revenues rise 14.9% in Q1 2005

Propex Fabrics Inc net revenues rise 14.9% in Q1 2005

17
May '05
World's largest primary carpet producer & a leading marketer of polypropylene synthetic fabrics company Propex Fabrics Inc announced first quarter 2005 financial results.

Business Combination
Prior to December 1, 2004, we were owned by BP p.l.c. and operated under the name of Amoco Fabrics and Fibers Company in the U.S. and other names in our international locations. We were acquired by an investor group that includes investment entities affiliated with The Sterling Group, L.P., Genstar Capital, L.P., and Laminar Direct Capital, L.P., BNP Paribas Private Capital Group, through Paribas North America Inc., certain members of our senior management and certain other investors on December 1, 2004, and became a stand-alone company operating under the name Propex Fabrics Inc.


-- The conversion from LIFO to FIFO accounting;
-- Postretirement benefit cost reductions due to BP retaining liability for the current retiree eligible employees and our limiting the remaining plan;
-- Pension cost reductions due to BP retaining certain German pension liabilities;
-- Reduced depreciation resulting from purchase accounting adjustments to reduce the value of long- lived assets resulting from the allocation of negative goodwill;
-- Amortization of the new non-compete agreement between us and BP and other intangibles newly created as a result of the acquisition; and
-- Substitution of the new debt structure in place of the prior affiliate debt.


Must ReadView All

Pic: Shutterstock

Textiles | On 23rd Sep 2020

Jakarta eyes 0.4% growth in textile-chemical-pharma sector

Indonesia has targeted 0.4 per cent growth in the chemical,...

Pic: Shutterstock

Apparel/Garments | On 23rd Sep 2020

Sri Lankan apparel sector could lose 100,000 jobs in 2020

The Sri Lankan apparel industry could lose up to 100,000 jobs this...

Pic: Shutterstock

Retail | On 23rd Sep 2020

Ascena Retail achieves key milestones in restructuring

The US bankruptcy court for the Eastern District of Virginia recently ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Value of 'Made in India' should get more importance

Asim Dalal, Indo Count Retail Ventures

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Top executives, Textile industry

Top executives
Textile industry

Denimsandjeans India 2018

Umang Banthia,

Umang Banthia

Established in 2005, SL Banthia Textiles manufactures coated fabrics....

Davide Maccabruni,

Davide Maccabruni

Schärer Schweiter Mettler (SSM) manufactures and supplies textile...

Zennure Danisman,

Zennure Danisman

Since its inception in 1953, Orta Anadolu has been weaving a denim...

Michael Jaenecke, Messe Frankfurt

Michael Jaenecke
Messe Frankfurt

From May 14 to 17, international exhibitors will present the entire...

Paige Mullis, Glen Raven Inc

Paige Mullis
Glen Raven Inc

Paige Mullis discusses the expansion plans of Glen Raven Inc in India, and ...

Chunyi Zhi, City University of Hong Kong

Chunyi Zhi
City University of Hong Kong

<div><b>Chunyi Zhi</b>, associate professor in the Department of Materials ...

Divvya and Nidhhi Gambhir, Walnut

Divvya and Nidhhi Gambhir
Walnut

<b>Divvya and Nidhhi Gambhir</b> started their career with the launch of...

Cigdem Akin, Cigdem Akin

Cigdem Akin
Cigdem Akin

She has carved a niche for herself as the national brand of Turkey. Her...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

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

Leave your Comments


September 2020

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


Advanced Search