Immediately following Completion, the total share capital of the JV Company shall be HK$200 million, of which the LN Co, Founder Co, HongShan Venture and HongShan Motivaton shall contribute HK$58,000,000, HK$52,000,000, HK$62,728,000 and HK$27,272,000 in cash respectively, accounting for 29%, 26%, 31.36% and 13.64% of the total share capital of the JV Company respectively.

The Group has been adopting the core strategy of “Single Brand, Multiple Categories, and Diversified Channels” to leverage its competitive advantages in the industry, and has achieved impressive results in the highly competitive Mainland China market. Having said that, the development of overseas markets, especially in the Belt and Road regions, is also part of the Group’s long-term development strategy. At the same time, the Group is aware of the uncertainties in the overseas markets. The business models in the overseas market also differ substantially from the models in the Mainland China market. The Group has considered that expanding into international markets requires collaboration with a partner which possesses extensive multinational resources. This requires the establishment of a new framework with an independent team, rich in overseas resources and experience, to take responsibilities of developing the international business operations with clear business and financial objectives.

HongShan has accumulated extensive investment experience since its establishment in 2005. It has a strong team of professional investors with deep industry insights and cross-border investment networks that may provide resources and services to portfolio companies, deploy key resources to enterprises that engage in transnational businesses during their development stage, and provide them with services such as business empowerment, talent development, digitalisation support and media management.

The formation of the JV Company leverages on the appeal of the Company’s founder, Mr. Li, to provide leadership in the positioning and direction of the Li Ning Brand’s development in the Territory. Moreover, the Company and Mr. Li together will hold 55% of the JV Shares, enabling the Company to effectively safeguard the reputation of the Li Ning Brand and to maintain sufficient influence over the JV Group. On the other hand, by bringing in HongShan, the JV Group may enjoy HongShan’s transnational resources and business experience which are expected to help the JV Group to accelerate its development effectively. In this joint venture, LN Co has the option to acquire all the JV Shares from HongShan Co in the future (subject to compliance with the relevant Listing Rules requirements), so as to realize the Company’s control over the JV Company.

The JV Parties can complement each other’s strengths and leverage on their respective reputations, brands, channels, talents and other resources in this joint venture, in order to empower the JV Group to be competitive and flexible in its business operations, and be more effective in risk management of the markets in the Territory. In the short term, the Company will prioritize its operations in Mainland China market to further increase the market share of its core business and to enhance the competitiveness of its brands in the key business segments.

Posted: October 22, 2024

Source: Li Ning Company Limited

The new facilities, acquired from Gear Cleaning Solutions, are set to begin operations October 21, 2024, and will adhere to the rigorous NFPA 1851 standards, ensuring the highest level of compliance. With Texas being one of only two states (including California) where NFPA 1851 compliance is mandated by law, this expansion marks a significant milestone for Gear Wash, allowing the company to meet the critical needs of first responders in one of the nation’s largest states.

“We are thrilled to establish our first locations in Texas,” says Taylor Burke Gilman, president of Gear Wash. “This expansion is a game-changer for our company and the communities we serve. Our advanced methods, equipment and technologies will give first responders in Texas the utmost confidence in their protective gear. We’re here to ensure their safety, and now we can do so with even greater impact.”

Gear Cleaning Solutions has built a stellar reputation for its NFPA 1851-compliant services, strong relationships with manufacturers, and comprehensive administrative and quality assurance support. These attributes align perfectly with Gear Wash’s mission, making the acquisition a strategic fit that enhances the company’s ability to deliver top-tier PPE care nationwide.

“As a firefighter-owned business, we’ve always treated our customers like family, knowing just how important this work is,” said Rick Johnson, previous owner of Gear Cleaning Solutions. “It’s hard to step away from something we’ve worked so hard on, but we believe it’s the right choice for us and for the future of Gear Cleaning Solutions. We’re confident Gear Wash shares our values and will help us continue to grow while keeping firefighter safety at the forefront.”

With the addition of these Texas facilities, Gear Wash now operates 12 brick-and-mortar locations and one mobile unit across the country. This expansion further solidifies the company’s commitment to providing comprehensive PPE solutions—from inspection and cleaning to repair and alteration — managed by trained and certified professionals who understand the critical importance of protective gear in fire services and other high-risk environments.

Gear Wash also offers temporary gear rentals, ensuring that first responders are never without the protection they need. This seamless, efficient process makes it easier than ever for departments to maintain compliance, extend the life of their gear and, most importantly, keep their personnel safe.

Posted: October 21, 2024

Source: Gear Wash

“With this partnership, the two best products on the market come together to create a win-win situation for all involved. technotrans and enesty complement each other perfectly in terms of technology, enabling us to offer customers unique, tailored solutions for their applications,” says Nicolai Küls, head of the Plastics Division & Managing Director of technotrans solutions GmbH in Meinerzhagen. Jonathan Franke, Commercial managing director of enesty GmbH, highlights the sales benefits: “We benefit enormously from technotrans’ international presence and its extensive sales network. Especially in countries where we are not yet represented, this partnership opens up great opportunities for us.”

As part of the collaboration, technotrans will in future rely on enesty’s water distribution systems, marketed under the orcinus brand, and promote them alongside its own products. In return, enesty will integrate technotrans’ compact temperature control units and innovative cooling systems into its orcinus system — a cutting-edge complete temperature control solution, specially designed for injection molding. The optimal coordination of thermal management and water flow control offers users numerous advantages in terms of productivity and energy efficiency. Within the system, it improves cooling efficiency and heat exchange during the injection molding process, significantly reducing cooling and cycle times, and thereby lowering CO₂ emissions per produced component. This mutual technological complement allows both partners to focus more strongly on their core competencies.

Tailor-made complete solutions from a single source

The strategic partnership is based on long-term collaboration without a fixed end date. In the future, customers will be able to access comprehensive thermal management systems through contacts at both technotrans and enesty, receiving everything from a single source. Initial joint projects have already been successfully completed, with many more to follow. Both companies also plan to make joint appearances at international trade fairs to present their synergies and product portfolios to a wider audience.

“technotrans and enesty are united by deep technical expertise and years of application experience. This results in unbeatable complete solutions that combine process optimisation, energy efficiency, and operational reliability,” says Küls.

Posted: October 21, 2024

Source: technotrans solutions GmbH

Freudenberg’s investment of more than 42 million euros in the Morinda facility marks the company’s largest financial commitment in India to date. The new plants are equipped to serve both domestic and international markets, reinforcing Freudenberg’s dedication to India’s “Make in India” initiative. The facilities will cater to key sectors such as automotive and industrial manufacturing, ensuring the company remains competitive by optimizing material flows and leveraging modernized equipment.

Speaking at the inauguration, Dr. Mohsen Sohi, CEO of Freudenberg Group, remarked: “Our investment in the new facilities in Morinda reflects Freudenberg’s strong commitment to the Indian market and the ‘Make in India’ vision. This expansion not only aligns with our global growth strategy but also boosts our ability to serve customers with greater efficiency, innovation, and quality. As we celebrate 175 years of Freudenberg’s legacy of excellence, we are proud to further strengthen our presence in India.”

Sustainability is a core focus of the new facilities. Energy-efficient machinery and eco-friendly practices, such as photovoltaic cells that supply 15 percent of the plant’s energy needs and water-recharging stations, have been incorporated to reduce the environmental footprint.

Sivasailam. G, managing director at Freudenberg Performance Materials India and director & CEO of Freudenberg Regional Corporate Center India, added, “The inauguration of our new manufacturing plants in Morinda showcases our long-term commitment to sustainable growth in India. By bringing our operations together in this advanced facility, we aim to create new job opportunities and nurture local talent. This investment helps us better serve our customers across different industries, offering high-quality products and solutions made in India for both domestic and international markets.”

Freudenberg’s expansion in Morinda is set to generate significant job opportunities, with plans to grow the local workforce by 20 percent, adding approximately 200 new positions. The site will also serve as a global engineering hub, attracting top talent from regional universities, particularly around Chandigarh.

Posted: October 18, 2024

Source: Freudenberg Group

The renowned company based in Shijiazhuang in north-eastern China specializes in the processing of recycled staple fibres and focuses on high efficiency and low water consumption. An ISOSIZE and an earlier generation KARL MAYER sizing machine are already in production in its warp preparation department. Pinhua Garments has now invested in another innovative warp preparation solution, a PROSIZE with VSB Size Box. With the signing of the contract, the state-of-the-art sizing equipment celebrates its premiere on the Chinese market.

At the trade fair, the experts from Pinhua Garments first learned about the possibilities of the Smart Size Box HSB and expressed great interest in this latest development for the sizing sector. The advantages of the advanced solution include less unplanned downtime and maintenance costs, and therefore more efficient, but also quality-assured production processes.  Like all PROSIZE Size Boxes, the Smart Size Box enables a cover factor of up to 100% at a maximum sizing speed of 160 m/min, with 200 m/min also possible as an option.

In addition to the Smart Size Box feature, the Size Box VSB was the subject of the exchange with Pinhua Garments Co. The innovative sizing equipment works with a highly efficient application technology that uses up to 10% fewer sizing additives compared to the immersion bath process. This saves costs, energy during desizing and waste water. In addition, the ability to control the yarn tension by the sizing system is an important advantage in view of the demanding processing of cotton. This performance convinced Pinhua Garments: The company ordered a PROSIZE with VSB Size Box.

“This investment is a reinforcing vote of confidence and I’m pleased to see our customer willing to grow with KARL MAYER through different generations and developments of machines,” says Gabriel Chiu, Regional Sales Manager at Warp Preparation Business Unit.

Posted: October 18, 2024

Source: KARL MAYER GROUP

TSS serves some of the largest e-commerce and retail brands and has been a pioneer in print-on-demand services over the past decade, catering to online brands, high street retailers, and promotional businesses. By integrating Kornit’s MAX technology and the newly added Apollo platform, TSS has optimized its production processes to better meet the demands of the rapidly growing online market.

“Creativity, innovation, and automation are at the core of our business, allowing us to consistently deliver unmatched quality to leading brands worldwide,” said Adam Golder, T-Shirt & Sons. “The Kornit Apollo is a game-changer in on-demand production. It delivers exceptional results that speed up our time-to-market and optimize production runs. With the Apollo joining our existing fleet of MAX systems, we’re well-positioned to meet the evolving demands of our customers and scale our business even further.”

Ronen Samuel, CEO at Kornit Digital, added, “Manufacturers like TSS are transforming their operations to meet the needs of an increasingly demanding market. As a print-on-demand leader, TSS relies on both speed and quality for success. With the adoption of Apollo, TSS is not only streamlining its operations but also scaling production to new heights.”

Posted: October 18, 2024

Source: Kornit Digital

The majority of the capital comes from longtime investors, including Michael Marks, Carbitex’s executive chairman. Marks, with 40 years of experience leading and transforming technology companies, including Flextronics and Tesla, is currently a founding managing partner at Celesta Capital and has served as a board director for more than 20 companies.

“Carbitex has made significant progress, assembling a capable team and laying a solid foundation for future growth,” Marks said. “I’m impressed by their progress and confident the company is set for an exciting future.”

After returning to an operational role as Carbitex’s President in 2023, founder Junus Khan led the company’s restructuring, including the appointment of Patrick Sinner to vice president of Brand Product Development in 2023, and Filippo Sartor to vice president of Global Sales and Sam Gardner to the role of vice president of Engineering and Operations earlier this year. Since then, the company has realigned with its vision and with a team prepared to drive innovation and growth.

“I’m proud of what our team has accomplished,” Khan said. “We’ve tackled hard challenges head-on and built a stronger, more agile Carbitex. This investment positions us to take the next step, and I’m excited about the breakthroughs we have in store that will push the boundaries of performance footwear and advanced materials.”

Carbitex’s patented materials are integrated across multiple footwear categories including run, cycling, soccer, watersports, snowboard, and most recently, golf. The company partners with leading shoe brands including Altra, Speedland, Lake, Scott, PAYNTR Golf, and FootJoy, as well as bag and accessory brands Tumi, Pitaka, and Porsche Design.

Posted: October 17, 2024

Source: Carbitex

Sharing his thoughts on the launch, Rajeev Sonthalia, director, Birla Carbon, said: “The launch of the Asia Post-Treatment Plant at Patalganga marks a significant milestone in Birla Carbon’s journey toward creating and deploying cutting-edge technology solutions for our customers. Asia is an emerging market for the carbon black industry and the strategic location of this plant will encourage innovation with our partners.” He further added, “This brownfield facility will enable Birla Carbon to leverage its global reactor capabilities, operating at the highest yields and efficiency. The precision in the manufacturing technology ensures that our products meet the highest standards of quality and performance, catering to the specific needs of our diverse customers, both regionally and globally. And by doing so, we enrich the lives of our consumers and inspire trust with our partners.”

The Asia Post Treatment Plant facility’s advanced technology ensures precise control over reaction times, facilitating the production of ultra-high-performance grades that are tailored to specific customer needs. With its ability to meet stringent clean product standards, the APT facility offers a distinct advantage over traditional products, positioning Birla Carbon as a market leader in delivering sustainable, high-quality solutions.

Sharing his thoughts on this new milestone, John Loudermilk, president and CEO, Birla Carbon, said: “The launch of our Asia Post Treatment Plant reflects our long-term commitment towards the industry and the businesses we serve. This facility enables us to support our customers more effectively while reinforcing Birla Carbon’s position as a thought leader in developing sustainable, high-performance carbon-based solutions for the future.” He further added, “This treatment facility strengthens our commitment to meeting global demand in high-growth sectors and leading the carbon black industry towards greater sustainability and efficiency. By prioritizing innovation and sustainability in every aspect of our operations, we are not just responding to current needs; we are anticipating future demand and setting new standards for quality, reliability, and environmental responsibility. Thus living our purpose to ‘Share the Strength'”.

In addition to its broader range of applications, including packaging inks and automotive and industrial coatings, the ATP facility is strategically designed to tap into niche markets such as toys and tool coatings, where the demand for low PAH products is rapidly growing.

Located in Patalganga, India, the plant provides key advantages such as proximity to emerging Asian markets. It serves as a key backup to Birla Carbon’s North Bend facility in the United States.

Posted: October 17, 2024

Source: Birla Carbon

Founded in 1989, Texollini is a U.S. textile manufacturer with expertise in synthetic fibers, offering capabilities from fabric production to dyeing, printing, finishing, design, and research and development. Its major clients include New Balance, Champion, Patagonia, and Alo Yoga.

The company expects that the acquisition will strengthen its synthetic fiber production technology and enable it to the growing near-shoring trend in the Central American region. Equipped with fully automated production lines, Texollini’s factory can handle the entire process, from fabric production to dyeing and printing, around the clock. Texollini’s product range encompasses more than 4,000 unique fabrics. Its monthly production capacity is also substantial, with 85 knitting machines capable of producing 1 million pounds of fabric and a dye house that processes 1.2 million yards of fabric each month. Texollini’s factory in Long Beach, Calif., is well-positioned with easy access to major transportation networks, including highways, sea, air, and rail, making logistics within the United States more convenient.

Hansae will leverage Texollini’s synthetic fiber development technology and expertise to expand its product categories and portfolio, including activewear, underwear and swimwear. In particular, to increase orders and profitability, it aims to expand high-value product lines like activewear.

Kim Ik-Whan, CEO of Hansae, said that Texollini is a company with outstanding technology and production capability, adding the acquisition is expected to further strengthen Hansae’s global competitiveness. He also expressed his commitment to ensuring that the company continues to invest and innovate to maintain its edge in the global fashion industry.

Posted: October 17, 2024

Source: Hansae Co. Ltd.

Beste and Rieter have signed an order to exclusively equip the newly founded spinning mill, FILUM S.r.l., in Bergamo, Italy, with the latest Rieter technology, including a complete ring spinning system. This is a pivotal step in the ITACO project, which encompasses every phase of cotton production — from the cultivation of organic cotton in southern Italy to spinning in Bergamo and garment manufacturing in the Prato region. Everything is done within a few hundred kilometers, providing unparalleled control over quality and sustainability, making Beste’s supply chain fully transparent.

From fiber preparation to winding, the new spinning mill will be exclusively equipped with the latest Rieter technology. With the fully electronic ring spinning machine G 38, equipped with the compacting device COMPACTapron, Beste produces combed compacted yarn that meets the highest standards required for its ITACO collection.

The all-in-one digital mill management system ESSENTIAL connects data throughout Beste’s new spinning mill, giving the company a comprehensive view of all relevant performance indicators from bale to package. The fully automated piecing robot ROBOspin ensures consistent performance of the ring spinning machines and minimizes personnel deployment. The fully automated roving bobbin transport system SERVOtrail Direct further reduces personnel requirements as no manual bobbin transport is needed.

Giovanni Santi, CEO of Beste, stated: “We engage with partners who share our philosophy and standards. Rieter machines meet our demand for the highest quality and enable us to produce yarns for our garments that embody the design and quality hallmarks of ITACO, our unique, fully traceable Italian cotton project.”

Roger Albrecht, head of the Rieter Business Group Machines & Systems, adds: “We are proud that Beste has chosen our technology to accelerate their growth momentum. Our ring spinning system perfectly fits into this complete Italian production chain, supporting the ITACO project’s vision of high-quality, sustainable garments.”

Posted: October 17, 2024

Source: Rieter Ltd.