October 2022 - Bangladesh Textile Journal | News and Analysis | Research Articles

100 small factories are closed and more are on the queue due to difficulties in securing LCs

18/10/2022

LC for capital machinery down by 65%, may impact exports in the long run

New investment and business expansion in the country experience a sluggish pace after tightening import and global recession warnings, brought about b

18/10/2022

The global home textiles market is likely to reach $151bn by 2025 with a 3.51% growth rate

The global home textiles market is expected to grow at an annual rate of 3.51% between 2020-2025, media reported based on a study of TexPro. The marke

17/10/2022

RMG sector focuses on productivity enhancement to obtain competitiveness

The readymade garment (RMG) industry of Bangladesh is increasingly focusing on enhancing efficiency and improving productivity to become more competit

17/10/2022

Campaigners demand more from forced labour ban

More than 70 civil societies, human rights coalitions, and trade unions have released a joint statement on the European Commission’s proposals t

Canadian hemp textile manufacturer Bast Fibre Technologies (BFT) says it’s secured “major strategic financing” from cleantech investment company Ahlström Capital. BFT has not disclosed the sum to which it’s being funded by the Finnish venture capital firm, but it’s indicated that it will help facilitate the expansion of its manufacturing capacity at both its sites in North Carolina and Düsseldorf. “The market for natural fibres is set for rapid growth, and this highly strategic funding will help BFT to solidify its position and further accelerate its expansion to meet the increasing demand for tree-free, plastic-free fibres,” Jim Posa, BFT’s chief executive told media. With this financial backing, Bast Fibre has said it will produce over 10,000 metric tonnes of its Sero-branded hemp fibre by next year, and hopes to scale this up to more than 50,000 metric tonnes per annum by 2026. "Nonwoven companies, converters, and leading consumer goods companies are looking for viable natural fibre options to achieve their corporate sustainability initiatives as they move away from synthetics," Posa added. Ahlström Capital has indicated that it invested in BFT in a bid to “help drive sustainable development” within the textile sector. Speaking to the media, President and CEO, Lasse Heinonen said; “With a strong and experienced management team, BFT is well positioned to become a global leader in the production of sustainable bast fibres. We see sustainable value-creating opportunities in the company.” Noel Hall, BFT’s board chair commented “It is important for us to work with an investor that shares our values and our vision of moving away from synthetic materials in nonwoven applications. Ahlström Capital has several complementary portfolio holdings in the nonwoven and sustainable fibre industries, making it both a natural fit and value-added investor for BFT.”

17/10/2022

Canadian hemp fibre manufacturer secures funding

Canadian hemp textile manufacturer Bast Fibre Technologies (BFT) says it’s secured “major strategic financing” from cleantech investment company Ahlst

17/10/2022

Q1 of FY23: Apparel exports see a modest rise in top destinations

The exports of apparel items noticed a modest growth in the top destinations in the first three months (July-September) or first quarter (Q1) of the c

16/10/2022

Bangladesh can be Brunei’s right place for investment : Commerce Minister

Commerce Minister Tipu Munshi urged energy-rich Brunei to invest in Bangladesh by taking advantage of facilities that the country offers to foreign in

16/10/2022

Vietnam’s exports to CPTPP nations see 38.7% growth in Jan- Aug 2022

The value of Vietnam’s exports to member countries of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) rose by

16/10/2022

US cotton export may slash to 12.5mn bales in 2022-23; forecasts USDA

With world trade projected lower, the export forecast for cotton in the US for 2022-23 is 100,000 bales lower at 12.5 million bales while ending stock