retail sector news

5th Jun 2023

Janne Silonsaari is the chief financial officer (CFO) of Suominen Corporation. He was selected for the role on March 6, 2023. Born in 1980, Silonsaari holds a master's degree in economics and business administration. Before joining Suominen, he worked at Kemira Oyj for 16 years, where he held various positions in business controlling and leadership.

5th Jun 2023

Glatfelter Corporation has decided to close its Ober-Schmitten facility in Germany. This closure is a result of the ongoing financial underperformance of the facility's electrical and glassine specialty papers. The company has implemented this action as part of its broader turnaround strategy, which focuses on improving the overall financial...

5th Jun 2023

Freudenberg has recently completed the expansion of its facility located in Italy. The expanded facility has been transformed into a competence centre specifically focused on finishing and coating apparel interlinings. This development enables Freudenberg to enhance its order processing capabilities, providing customers with flexible services.

2nd Jun 2023

In FY22, Ludwigsburg-based filtration company Mann+Hummel posted a record high turnover of €4.8 billion, up from €4.2 billion in the previous fiscal. The company’s EBIT was €176 million in FY22, compared to the EBIT of €191 million in the previous fiscal. Furthermore, the EBITDA was €394 million in FY22, compared to €419 million in FY21.

1st Jun 2023

Carrington Textiles' development of Flamestat 250, a multifunctional flame retardant fabric with comfort as a priority, is a significant advancement in textiles. Combining the comfort of cotton and the durability of polyester is a notable achievement. Flamestat 250 meets multiple safety standards and provides protection against various hazards.

31st May 2023

Colorado has joined California, Washington, Oregon, and Illinois in enacting a law concerning the labelling of non-flushable wet wipes. Labelling of such products is important to prevent them from being flushed down the toilet, as they can cause damage to the environment. In order to raise awareness, the RFA launched the #FlushSmart campaign last...

30th May 2023

Magnus Jarlegren, presently the executive vice president of operations at Sweden’s Autoliv, Inc, will take over as the president of Autoliv Europe from June 1, 2023. He replaces Frithjof Oldorff, who is leaving for new opportunities. Jarlegren's operational excellence experience is expected to help navigate the firm in a challenging market.

30th May 2023

UK authorities are urging wet wipes manufacturers to reconsider labelling their products as ‘flushable’ to prevent sewer blockages and water pollution. Each year, 2.1-2.9 billion wet wipes, contributing to 94 per cent of sewer blockages, are flushed down toilets. Efforts to rectify this cost water companies an estimated £100 million annually.

29th May 2023

Raff Military Textile's efforts to strengthen ties with Latin America, specifically in the field of exporting military textiles, align with Turkiye's strategic opening strategy towards the region. Raff's participation in the Turkiye-Colombia trade delegation indicates its commitment to exploring opportunities for collaboration and expansion in...