In the dynamic and global textile fiber industry with its various manufacturing processes and end-uses, news and information is breaking on a daily basis. International Fiber Journal is tracking stories relevant to our industry from manmade to natural to bio-based fibers, innovations in nonwoven, woven, braided and technical textiles, technologies for additives, bonding, coatings and polymers, and applications from apparel to hygiene to transportation, and more. Here we will post news stories relevant to textile fibers and their downstream applications on an ongoing basis. Please check back for regular updates. If you have news that you feel should be added to this summary report, please email it to Ken Norberg at [email protected].
Most recent update: January 28, 2026
Germany’s Kelheim Fibres to Close by March
The management of Kelheim Fibres GmbH announced that business operations will be terminated as of 31 March 2026. A continuation of the company beyond this date is not possible, the company said in a press release
The investor and sales process conducted within the framework of the self-administration did not
lead to a positive outcome. The potential strategic investor who most recently entered the process
has withdrawn from a potential investment at short notice. Independently of this, despite the
support of a large proportion of customers and restructuring measures already implemented, it was
not possible to achieve sufficient off-take volumes that would have been required for an
economically viable continuation of business operations. This also included the absence of orders
from a key customer.
Following completion of the ongoing run-out production, the necessary measures to initiate an
orderly shutdown process will be implemented.
Employees were informed about the decision and the further procedure on 26 January 2026 in the
course of an employee and works meeting. The Works Council and the self-administration have
agreed on a reconciliation of interests and a social plan. In addition, a transfer company will be
established to support employees in the transition to new employment relationships.
“The self-administration has examined all realistic options for continuation. As the required
commitments – including the approval of a key customer – were not in place, continuation is
unfortunately not economically viable. This is a difficult situation for the employees; the focus is now
on an orderly wind-down and the best possible support for the employees,” said the management.
New UNITEX Plant Opens in Trang Bang, Vietnam
UNITEX is expanding its capacity by a further 36,000 tons per year with a new filament yarn production plant. Once again, the Vietnamese company is relying on solutions from Barmag.
What makes it special is that the plant, which was inaugurated in Trang Bang at the end of January, is completely digitalized using Barmag’s atmos.io digitalization platform. This means that the entire material flow is digitally recorded and networked, and each individual package is individualized and documented with its personal characteristics. With the help of artificial intelligence, deviations in production are detected at an early stage so that operators can react immediately. Corrections in the material flow can be made in real time. The laboratory, which is digitally integrated into the process, safeguards interventions in the material flow. As a result, atmos.io increases efficiency on the shop floor and enhances process quality – and thus product quality as well. “With the atmos.io digitalization platform, we create a holistic solution that unifies the entire production process. This not only enables us to achieve consistently high overall equipment effectiveness (OEE), but also supports fast, well-informed decision-making and flexible adaptation to individual customer environments,” says UNITEX CEO Jack Dang, explaining his decision to choose atmos.io.
Three ANDRITZ Spunlace Lines Start Operating in China
Alar Silk Road New Materials and ANDRITZ have successfully commissioned three spunlace lines in crosslapped configuration at Alar’s facility in Aral City, Xinjiang, China. The new lines strengthen Alar’s capacity to produce high-quality nonwovens and support the development of a more resource-efficient and sustainable ecosystem for the region’s hygiene and medical industries.
The neXline spunlace lines from ANDRITZ process viscose and/or cotton fibers to produce nonwoven fabrics that meet stringent quality requirements for hygiene and medical end uses. The lines deliver excellent web uniformity, strong tensile properties, and high production rates, enabling Alar to meet the growing market demand. The latest Profile™ crosslappers help reduce operating costs by ensuring even fiber distribution.
ANDRITZ will continue to support Alar in further advancing its operations. The two companies plan to deepen their cooperation in innovation, digitalization, and energy efficiency to implement Alar’s goals and contribute to sustainable industrial development in the Xinjiang region.
Alar Silk Road New Materials Co., Ltd., is a leading producer of high-quality nonwovens for hygiene, medical, and care applications. Using the region’s rich cotton resources, the company develops advanced materials supported by strong technological capabilities. Alar also drives innovation in renewable raw materials, converting resources such as reed into high-value pulp, which supports circular economy goals. Through continuous collaboration and technological development, the company is building a modern, internationally competitive industrial base.
Registration Open for the World of Wipes® International Conference 2026
INDA, the Association of the Nonwoven Fabrics Industry, announced that registration and exhibit space reservations are now open for the World of Wipes® (WOW) International Conference, taking place June 29–July 2, 2026, at the Grand Hyatt Nashville in Nashville, Tennessee.
Recognized as the premier global event dedicated exclusively to the wipes industry, WOW 2026 will bring together industry leaders, innovators, brand owners, suppliers, and technical experts from around the world. This year’s theme, “Redefining Wipes: Smart. Sustainable. Scalable,” reflects the industry’s rapid evolution and focus on advanced technologies, sustainability, and growth-ready solutions.
Attendees will gain critical insights into sustainable packaging trends, legislative and regulatory developments, technical standards, emerging raw materials, chemistries and formulations, brand-owner perspectives, global market dynamics, consumer insights, disruptive technologies, and the impact of today’s challenging business environment.
WOW 2026 Highlights Include:
- Pre-Conference Webinars: Gain essential insights into key topics shaping the wipes industry ahead of WOW 2026.
- Wipes Development Course | June 29–30: Participate in 12 expert-led sessions presented by Heidi Beatty, Chief Executive Officer, Crown Abbey, covering the full lifecycle of wipes development—from product concept through commercialization.
- Exhibits & Evening Receptions | June 30–July 1: Explore an engaging exhibit showcasing the latest innovations from leading-edge suppliers during two networking-focused evening receptions.
- Lightning Talks | June 30–July 1: Exhibitors deliver fast-paced, five-minute presentations highlighting their new products, technologies, and solutions prior to the evening receptions.
- World of Wipes Innovation Award® | June 30 & July 2: Celebrate excellence and innovation in wipes by honoring products that leverage nonwoven fabrics and technologies to enhance performance and expand applications. Award nominations are open through April 27. Finalists will present on June 30, with the award winner announced on July 2.
Additional conference details, including the full technical program, will be released at a later date.
For registration, exhibit space, or sponsorship opportunities, visit www.worldofwipes.org.
Harrisons Strengthens Offering With New Wet Wipes Launch
For the first time in its 135 year history, Harrisons, a leading UK manufacturer of nonwoven wipes, has launched a set of fully in-house manufactured wet wipes.
- Harrisons develops new B2B wet wipe offering, including Surface Disinfectant
Wipes, Probe Wipes, Hand Sanitiser Wipes and Hand & Tool Wipes. - Wet wipes to expand both the Harrisons Industrial Range and Harrisons Hygiene Range, and includes plastic-free wipes.
- All new wet wipes will be manufactured in Britain.
The expanded offering bolsters Harrisons’ support for key sectors of the economy, including foodservice, janitorial, facilities management, industrial, aerospace, automotive, and printing.
The new products, each of which is available in a variety of formats, include:
- Surface Disinfectant Wipes that disinfect hard surfaces easily. They are highly
effective against bacteria and viruses and fragrance-free. - Probe Wipes that deliver quick, effective disinfection of temperature probes
and small food-contact utensils. Food-safe, they are being made available with
70% Alcohol or as Alcohol & Quat Free. - Hand Sanitising Wipes that provide quick, convenient hand hygiene in busy
environments. Highly effective against viruses and bacteria and
dermatologically tested for skin-friendliness, a plastic-free version of the wipes
is available. - Hand & Tool Wipes that tackle oils, grease, paint, adhesives, and grime,
making on-the-spot cleaning simple without the need for water or harsh
chemicals. Enriched with Aloe vera, they clean effectively while caring for skin,
and are available with both smooth and dual-textured material.
All Harrisons wet wipes are manufactured in Britain, rigorously tested in-house,
and independently audited to multiple relevant EN standards in a UKAS
accredited laboratory to ensure consistent, compliant performance across
applications.
Oerlikon strengthens Michigan footprint
Oerlikon announced that it will continue to invest in its Michigan operations and is evaluating options for enlarging manufacturing capacity in 2028 to meet growing customer demand.
“Oerlikon’s Michigan operations are a cornerstone of our North American strategy,” said Michael Suess, Executive Chairman of Oerlikon. “Our ongoing commitment to Michigan builds on the major investment we made in 2017 and we continue to strengthen our advanced materials capabilities to serve high-growth industries. We are also assessing further expansion in the region to meet future customer needs.”
Oerlikon’s commitment to Michigan began with a significant investment in 2017, marked by the groundbreaking of its advanced materials manufacturing and R&D center in Plymouth Township. The 80,000-square-foot facility, which opened in 2018, consolidated critical powder production capabilities, created approximately 80 skilled jobs and reinforced Michigan’s role as a hub for advanced manufacturing and innovation.
Since then, Oerlikon has continued to invest in Michigan, supporting the aerospace, energy and automotive industries with high-performance materials and surface solutions. The company’s ongoing investment will focus on expanding manufacturing capacity, advancing materials expertise and supporting workforce development in the state.
The Plymouth site plays a critical role in the U.S. supply chain, providing essential materials for strategic industries and helping secure skilled jobs in the region.
Oerlikon is working closely with the State of Michigan and local partners to ensure that strategic know-how and advanced manufacturing capabilities remain in the region, while positioning the business to meet increasing demand in additive manufacturing and surface coatings. The company is currently evaluating options for an additional plant in Michigan, with a decision expected in 2028.
Barmag Honored as Gold Partner
At this year’s supplier conference held by polyamide yarn manufacturer Yongrong on January 17, Barmag was honored with the Gold Partner Award. The company presents the award to suppliers who make a significant contribution to the sustainable growth and success of the group.
The Yongrong Holding Group’s supplier conference 2025 took place in Fuzhou, China, under the motto “Shaping the future together with a focus on value.” As a long-standing strategic supplier, Barmag was invited and represented by Hou Xiaoguang, Head of Barmag China, and Felix Chau, Head of Sales China.
Barmag and the Yongrong Group have maintained a partnership-based business relationship since 2004, which has developed from a strategic to a value-adding collaboration over more than two decades. In the field of polyamide yarn production, the Yongrong Group is now one of Barmag’s most important customers worldwide.
While the company initially used mainly standard equipment from Barmag, the focus is now on customized, innovative solutions that have been jointly developed and continuously optimized. High-quality, cutting-edge technology from Barmag, combined with the Yongrong Group’s forward-looking strategy, has contributed significantly to the successful development of both partners.
In the future, both partners intend to further intensify their cooperation. The focus will be on developing environmentally friendly and intelligent production processes for the nylon industry, as well as a new model for a high-quality and sustainable industry.
B.I.G. Yarns Achieves EcoVadis Platinum Rating
B.I.G. Yarns, the carpet yarn brand of B.I.G. and a leading manufacturer of polyamide (PA), polypropylene (PP) and polyester (PET) yarns for contract, automotive, and high-end residential applications, has been awarded the EcoVadis Platinum Medal, placing the company among the top 1% of more than 130.000 companies assessed globally.
With an overall score of 86/100, B.I.G. Yarns reaches the highest distinction awarded by EcoVadis, one of the world’s most trusted and widely used sustainability assessment platforms. The rating is based on rigorous third-party evaluation across four key pillars: environment, labor & human rights, ethics, and sustainable procurement.
This achievement confirms that B.I.G. Yarns’ sustainability strategy is delivering measurable, industry-leading results and reflects years of investment in responsible operations, transparent governance, and climate-conscious innovation.
NIRI Celebrates 20 Years of Nonwovens Innovation
Since 2005, Nonwovens Innovation & Research Institute Ltd. (NIRI) in the UK has grown from a university spin-out into an internationally-recognized commercial consultancy – helping more than 450 companies enhance product performance, achieve their sustainability goals, reduce costs and improve efficiency.
Professor Stephen Russell and Chris Fowler first met in 2003. As one of the leading minds in nonwovens, Steve was heading a research group at The University of Leeds while Chris, with a background in running innovative medical technology companies, was looking for an investment opportunity. Their complementary skillsets led to the establishment of NIRI – as a spin-out of the university – with Chris as Managing Director and Steve as Technical Director.
Recognizing the need for world-class talent to support real-world, commercial product development, NIRI has always had a clear focus on attracting driven individuals who are passionate about technical textile development.
NIRI has helped improve more than 1,000 products, including novel blood plasma filters for the NHS, more discreet hygiene products, ballistic protection for soldiers, virus filtering masks, longer-lasting mosquito nets, and plastic-free alternative components.
The products NIRI develop for customers not only solve the technical challenge of meeting specific performance characteristics but are also commercially viable. Crucial to helping clients achieve innovation within commercial timescales, to optimize time-to-market for new product development and existing product enhancement, NIRI prioritize investment in facilities and equipment: from expansion out of university premises in 2017, through to the opening of Innovation House in 2023 – a £1.2 million investment. This latest move more than doubled the size of NIRI’s facilities, with seven new laboratories and significantly increased R&D capabilities.
And NIRI continue to look to the future, with investment into biopolymer processing and development; in R&D focused on high performance PFAS replacement, and further investment this year in polymerization facilities.
Most recently, NIRI launched the Technology & Innovation Hub, allowing start-up companies to co-locate alongside state-of-the-art facilities, complemented by support services and access to NIRI’s commercialization expertise through bespoke packages to help start-ups and scale-ups accelerate innovation to commercially viable technologies.
NIRI remains committed to its original commercially-driven ethos. Helping clients reduce costs and improve efficiency is at the heart of development and innovation.
A.Celli Upgrades Shalag’s ATB Spooling Line
Italian company A.Celli and North Carolina based Shalag continue their partnership with the upgrade of a spooling line to improve both performance and safety.
The collaboration between A.Celli and Shalag dates back to 2014, with the supply of the first spooling line. Since then, the bond has progressively strengthened over the years through additional spooling and nonwoven lamination lines. This long-standing relationship is now continuing with a new project involving the upgrade of a spooling line.
The equipment, dedicated to processing Air-Through Bonded nonwoven, required an increase in performance and enhanced safety standards. The main modifications include layout upgrade, the implementation of a new software package with advanced control features, and the updating of safety devices. Once completed, the upgraded line will be installed at the Shalag facility, with commissioning planned for Summer
Shalag, established in 1983 in North Carolina, is an international producer of nonwoven materials.
Harper Hygienics Introduces Kindii Water Care
Harper Hygienics recently introduces Kindii Water Care, a new line of baby wipes created to meet the needs of the most sensitive skin from the very first day of life. Kindii Water Care is designed with simplicity, safety, and gentleness in mind, combining a minimalist formula with carefully selected, skin-friendly materials.
Kindii Water Care wipes are made with 99.9% water and contain only three ingredients, including grapefruit extract, known for its natural preservative properties. The fragrance-free formula gently cleanses delicate baby skin without irritation and is dermatologically tested, making it suitable for newborns and infants.
The wipes are produced from 100% natural viscose fibers derived from plant-based cellulose, in line with the brand’s commitment to responsible care. They are fully biodegradable, free from microplastics, and designed to naturally decompose, helping reduce environmental impact and support more sustainable everyday choices.
With Kindii Water Care, the brand reinforces its philosophy that less is more – offering parents a product that provides effective hygiene, exceptional gentleness, and peace of mind, while remaining mindful of the planet.
Covation Biomaterials to Shift Focus to Next-Gen BioMaterial
Covation Biomaterials LLC announced that it has agreed to sell its interest in Primient Covation LLC (known as “CovationBio PDO” and “Primient”), the world’s largest producer of 100 percent bio-based 1,3 propanediol (BioPDO). Following the transaction, Primient will continue to supply CovationBio with BioPDO under a long-term supply agreement for the production of partially bio-based Sorona® polymer, used globally as a sustainable solution for the apparel and home goods industries. Moelis & Company acted as the exclusive financial advisor to CovationBio on this transaction.
Along with this shift, CovationBio is reinforcing its position as a biomaterials leader by driving the next wave of emerging biomaterials as it prepares for commercialization of its latest product, bioPTMEG, in 2026.
The newest breakthrough from CovationBio is bioPTMEG, a 2nd generation bio-based polyether glycol that is derived from corn cobs, an ingredient that does not compete with primary food sources. bioPTMEG will serve as a drop-in replacement for traditional petroleum-based polytetramethylene ether glycol (or PTMEG), while providing substantial sustainability benefits for applications that use spandex, polyurethanes, and thermoplastic elastomers, such as athletic and performance apparel, footwear components, industrial elastics, and automotive parts and accessories.
INDA Announces Future Dates and Locations for FiltXPO™ and IDEA® Events
INDA, the Association of the Nonwoven Fabrics Industry, announced the future dates and locations for its FiltXPO™ and IDEA® events, reaffirming its long-term commitment to serving the global filtration, nonwovens, and engineered materials communities.
As part of this announcement, INDA confirmed that IDEA®, its flagship conference and exhibition, will return to its traditional three-year cycle following IDEA®27. While IDEA®27 will take place two years after the most recent IDEA® in 2025, this two-year timing is a one-time occurrence. INDA will maintain its long-standing cadence and value for this event moving forward. IDEA®27 will take place March 23-25, 2027 in Kansas City, Missouri.
IDEA® is the largest nonwovens and engineered materials exhibition in the Americas, bringing together global industry leaders, innovators, and decision-makers. In addition to the exhibition, IDEA® features a robust conference program that addresses key industry hot topics, with a strong emphasis on sustainability, market trends, and emerging technologies.
FiltXPO™ is a conference and exhibition focused exclusively on the filtration industry. The technical conference program delivers in-depth insights into filtration science, applications, and advancements, while the exhibition provides a comprehensive showcase of innovations across the full spectrum of air, water, gas, and oil filtration components and technologies. FiltXPO™ 2026 will be held October 28-29, 2026 in Minneapolis, Minnesota.
Future Dates and Locations
FiltXPO™ 2028
March 29–30, 2028
Charlotte Convention Center
Charlotte, North Carolina
IDEA®30
March 26–29, 2030
George R. Brown Convention Center
Houston, Texas
FiltXPO™ 2030 (Co-located with IDEA®30)
March 26–29, 2030
George R. Brown Convention Center
Houston, Texas
The co-location of FiltXPO™ and IDEA®30 in 2030 will provide expanded opportunities for cross-industry engagement, knowledge exchange, business development across the filtration and nonwoven sectors, and synergies for both exhibitors and visitors.
To view 2026 INDA events and professional development courses, visit: INDA | Full Events Calendar
NONWOVENN Acquired by CorpAcq
One of the world’s leading nonwoven fabric-tech companies, UK based Nonwovenn, has been acquired by CorpAcq, the Altrincham-based business acquisitions compounder backed by TDR Capital.
The acquisition also marks the successful exit of BGF, the UK and Ireland’s most active growth capital investor.
Founded in 2003 by the current Chairman David Lamb, Nonwovenn manufactures and supplies technical fabrics for niche markets. The company has a strong focus on harm reduction with its product range including materials for protective clothing and wound treatment. Following an initial multi-million-pound investment in 2016, BGF has supported the business through a period of significant growth.
The company has increased its annual turnover from £19m in 2016 to £46 million in 2025 and has continued its strong growth into 2026. The business has now celebrated 19 consecutive years of profit and is a significant exporter of goods. It is a major employer in Somerset and recently invested a further £1.5 million in research and development to enhance its CBRN (chemical, biological, radiological and nuclear) protective solutions.
www.nonwovenn.com
EDANA Unveils the Professional Development and Events 2026 Calendar
EDANA, the international association for the nonwovens and related industries, announced its comprehensive 2026 calendar. This year, headlined by the return of INDEX™26, the world’s premier
nonwovens exhibition, will have a robust schedule of professional development courses designed to equip the workforce for a sustainable and innovative future.
To view the other events for this year, click here…
Michelin Acquires Cooley Group and Tex Tech Industries
Michelin has reached agreements to acquire Cooley Group, a specialist in industrial coated fabrics, and Tex Tech Industries, a leading manufacturer of specialty textiles and fabrics.
The two companies represent strong strategic fits with the France-headquartered Michelin Group, which has pioneered engineered materials for more than 130 years, drawing on a deep know-how in polymer composites.
In addition to its well-known tires, the group manufactures components for critical applications in demanding fields as varied as mobility, construction, aeronautics, low-carbon energies and healthcare. With 129,800 employees worldwide, Michelin is active in 175 countries.
Celebrating its 100th Anniversary in 2026 and headquartered in Rhode Island, Cooley is recognized for its expertise in high performance polymer coated fabrics and is vertically integrated, with capabilities in weaving, knitting, and polymer extrusion. The company designs and manufactures polymeric solutions for a wide range of applications including healthcare devices, waterproofing, water and chemical containment, and other custom mission-critical environmental solutions.
Tex Tech Industries, founded in 1904 and headquartered in Kernersville, North Carolina, is a designer and manufacturer of specialty textiles, fabrics and coatings for a wide range of industries and niche applications. The company has created solutions for some of the most demanding applications including thermal protection systems for space vehicles, fuselage burn-resistant aircraft materials, aircraft seat fire-blocking textiles and custom fabrics for composite applications.
Michelin is already a leader in coated fabrics in Europe with brands such as Orca and these two acquisitions will substantially accelerate its expansion into new markets and regions and increase Michelin’s Polymer Composite Solutions business revenue by around 20% to roughly $280 million.
Recycling Europe Textiles Calls for Compulsory Recycled Content
Recycling Europe Textiles (RET), the European association representing the textiles reuse and recycling sector, has urged the EU Commission to introduce ecodesign rules mandating the presence of at least 10% of recycled fiber content in textile products from 2028.
RET believes that the upcoming European regulation on ecodesign for textile products is a decisive opportunity to accelerate the industry’s transition to a truly circular model. In a position statement published on January 7, the organization underlined that introducing mandatory recycled-content requirements is essential to strengthen the recycling industry and respond to the growing pressure on textile-waste collection and treatment systems in Europe.
FiltXPO™ 2026: Call for Conference Presentations
INDA, the Association of the Nonwoven Fabrics Industry, in partnership with AFS, the American Filtration and Separations Society, announced the call for presentations for the Advances in Filtration Conference, to be held October 28–29, 2026, as part of FiltXPO™ 2026 in Minneapolis, Minnesota.
Filtration professionals from industry, academia, and research institutions are invited to submit abstracts highlighting original research, emerging technologies, and practical advancements shaping the future of filtration. The two-day conference provides a focused forum for technical exchange and cross-sector collaboration.
Abstract Submissions Now Open
Abstracts may be submitted through the AFS website: https://sla.yt/e/afs-filtxpo26
Conference Focus Areas
Submissions are encouraged in the following topic areas:
- Artificial Intelligence in Filtration and Data Center Applications
- e-Mobility and Battery Technologies
- Nonwoven Media for Water Treatment and PFAS Filtration
- Sustainability and Environmental Considerations in Filtration
Presentation Formats
The conference will include both oral presentations and technical posters. All submissions will be peer-reviewed by the Conference Planning Committee, which will assign presentation formats based on content and program balance. Oral and poster presentations are regarded as equally important components of the technical program.
Building on the strong participation and engagement seen at FiltXPO 2025, the 2026 conference will again feature technical posters, providing an opportunity for subject matter experts, research institutes, and emerging researchers to share detailed findings and innovative concepts.
To submit an abstract and review submission guidelines, visit: https://sla.yt/e/afs-filtxpo26
Abstracts must be received by April 3, 2026. All submissions will undergo a peer-review process conducted by the Conference Planning Committee.
CFDA, Ralph Lauren Announce Two Grant Programs to Strengthen American Fashion Manufacturing
The Council of Fashion Designers of America (CFDA) announced two new initiatives designed to strengthen American fashion manufacturing, drive innovation, support workforce development, and promote economic growth in key apparel-producing regions across the country.
The CFDA x NY Forward Grant Fund, developed with funding from both the New York State Department of State and Ralph Lauren Corporation (Ralph Lauren), will provide partially matching grants to designers and manufacturers based in New York City’s Garment District. The U.S. Fashion Manufacturing Fund, created with Ralph Lauren as founding partner, will support apparel manufacturers nationwide. Both programs aim to help companies to modernize equipment, expand services, and train workers – building the capacity and resilience of American fashion manufacturing.
These programs build on the success of the CFDA’s Fashion Manufacturing Initiative (FMI), launched in 2013 in affiliation with the New York City Economic Development Corporation (NYCEDC), Andrew Rosen, and with the long-term support of Ralph Lauren, among others. To date, Ralph Lauren has contributed $2 million as FMI’s Premier Underwriter, enabling grants to 54 factories and positively impacting more than 2,000 jobs.
DyStar Announces Full Ownership Under Zhejiang Longsheng Group
DyStar, a leading specialty chemical company with a heritage of more than a century in product development and innovation, announced it is now fully owned by Zhejiang Longsheng Group following the resolution of its shareholder’s dispute. The milestone marks a new chapter of stability, governance clarity and long-term growth for the company.
The resolution was achieved through a series of agreements: the share buyback agreement dated Dec. 12, 2025, the framework agreement dated Dec. 12, 2025, and the amended and restated share purchase agreement dated Dec. 13, 2025, which amended the original share purchase agreement dated May 29, 2025.
Under the share buyback agreement, a total consideration of $688,879,511.69 was paid to acquire the 37.5% shareholding previously owned by KIRI Industries. Of that amount, DyStar contributed $426,519,921.56, while Zhejiang Longsheng Group Co. Ltd.’s wholly owned subsidiary, Sende International Capital Ltd., contributed $262,359,590.13.
On Dec. 30, 2025, the transaction was confirmed by the court-appointed receivers, Deloitte & Touche Financial Advisory Services Pte Ltd, with completion and closing effected the same day.
