education institutional news

11th May 2023

Tempur Sealy is set to acquire Mattress Firm in a cash and stock transaction. The transaction is likely to be financed with nearly $2.7 bn in cash and $1.3 bn in stock consideration. This stock consideration involves issuing 34.2 mn shares of common stock. The value of the stock consideration is determined based on the closing share price on May 8.

10th May 2023

Kelheim Fibres and Santoni have created a sustainable menstrual underwear using advanced machine technology and high-quality viscose fibres. The Santoni XT-Machine allows for efficient production of different layers within the garment, while Kelheim's specialty fibres replace synthetic materials, promoting sustainability and innovation in the industry.

9th May 2023

Berry has reported a decline in net sales to $3.3 billion for Q2 FY23, primarily due to volume decline and decreased selling prices. The company’s operating income was $301 million and earnings per share was $1.42 under GAAP standards. Adjusted earnings per share were $1.96. All the company’s segments saw a decline in net sales in Q2 FY23.

8th May 2023

Finland-headquartered Ahlstrom has announced that it has appointed Wouter Hut as a member of its executive management team, with effect from June 1. Hut currently serves as the chief procurement officer at Ahlstrom and has been with the company since 2021. In his new role, Hut will be responsible for leading the procurement operations of the company.

8th May 2023

Glatfelter's sales in the first quarter were $378 million, slightly lower than the $381 million in the first quarter of 2022. However, the company has taken steps to position itself for growth and improve its long-term strategy. The recent refinancing transactions have provided them with greater financial flexibility and a well-capitalised position.

5th May 2023

Konraad Dullaert has been appointed as the EVP for science, innovation and sustainability at Ahlstrom, effective June 1. In this role, he will be responsible for overseeing innovation, sustainability, commercial excellence and marketing. His appointment reflects Ahlstrom's focus on advancing sustainability and innovation in its business operations.

5th May 2023

Andritz, an international technology group, has announced the successful start-up of a new velour loom at Foss Floors in Rome, United States (GA). The loom is designed to produce high-quality flooring made from recycled plastic, and the start-up occurred in early 2023. The 5.3 m loom, which is of type SDV, was delivered by Andritz to Foss Floors.

5th May 2023

Ashland expects weaker global demand dynamics to affect its sales in the range of $2.3 billion to $2.4 billion in FY23. Adjusted EBITDA is projected to range from $580 million to $610 million. Ashland has initiated inventory-control actions to reduce inventories for certain product lines, which may negatively impact adjusted EBITDA by $20 million in...

5th May 2023

Ontex Group has announced the completion of its divestment of its Mexican business activities to Softys, a personal hygiene company that is a wholly-owned subsidiary of Empresas CMPC. The transaction includes Ontex's manufacturing facility in Puebla, Mexico, its branded business in Mexico, and all related exports to certain regional markets.