Archive for May, 2012

Buckeye Technologies CEO to Participate in Stephens Spring Investment Conference

Tuesday, May 29th, 2012

MEMPHIS, Tenn., May 22, 2012 (BUSINESS WIRE) — Buckeye Technologies Inc. BKI +1.80% today announced that John Crowe, Chairman and Chief Executive Officer, will participate in the Stephens Spring Investment Conference in New York on Wednesday, June 6, 2012, at 9:00 a.m. (ET).

A live audio webcast of Mr. Crowe’s remarks and a copy of presentation materials will be accessible at www.bkitech.com . To access the webcast, follow the link to the Stephens Spring Investment Conference. A replay of the audio webcast will be available until September 6, 2012.

Buckeye, a leading manufacturer and marketer of specialty fibers and nonwoven materials, is headquartered in Memphis, Tennessee, USA. The Company currently operates facilities in the United States, Germany and Canada. Its products are sold worldwide to makers of consumer and industrial goods.

SOURCE: Buckeye Technologies Inc.

        
        Buckeye Technologies Inc. 
        Steve Dean, 901-320-8352 
        Sr. Vice President and Chief Financial Officer 
        or 
        Shirley Spears, 901-320-8125 
        Investor Relations 

www.bkitech.com            

Source: www.marketwatch.com

Caught In A Fiberweb

Friday, May 25th, 2012

Stephen Bland picks out a share that may be worth a look.

Fiberweb (LSE: FWEB) is involved in the manufacturing of non-woven products, but I’m not too concerned with that. Here’s what matters above all in a value play — the numbers:

Share price 58p
52w high/low 68/39p
Cap £101m
Net tangibles 31/12/11 £133.6m
Net cash 31/12/11 £22m
Earnings per share (eps) 31/12/11 (loss) (1.8)p
Forecast eps 31/12/12 5.37p
Dividend 31/12/11 3.00p
Forecast div 31/12/12 2.67p
Price-to-tangible-book-value (P/TB) ratio 0.76
Forward price-to-earnings (P/E) ratio 10.8
Forward yield 4.6%
Directors own 1%
Other majors 48%

The company was reorganised last year involving the disposal of about 40% of their business and a rights issue following a period of poor performance exacerbated by excessive debt. The substantial disposal and the rights money served to turn round what was an onerous £151m net debt burden last year into £22m cash by December 2011. So this is very much a turnaround situation, but that alone is not the hook upon which I’m hanging my selection — this one exhibits a lot of classic value features to shore up the downside, one of the key points behind value investing.

As shown in my table above, it trades well below tangible book and has net cash, these being the two most powerful elements of value for my style, especially with smaller caps like this. The lesser elements of yield aren’t too bad at 4.6% forecast but the P/E is not at a value level right now. I mean at 10.8 forecast it’s not outrageously high but it’s not at the value player’s salivatory level of, say, 7 or less with the market as it is.

As a turnaround, though, the hope is for steeply rising profits in the near term of say three years or so — but clearly that involves some risk. The eps forecast for 2012 is for 5.37p, with 6.21p seen for 2013, but as usual with smaller caps there are very few analysts reporting here. Consequently, I don’t put that much faith in these figures. Anyone buying the shares has in my view to put more faith in the general idea that the revamping of the business will deliver strongly in future, rather than in specific amounts like these.

As a turnaround, the directorspeak should be given more than the usual cursory glance at the clichés, but unfortunately there isn’t too much guidance and it’s all rather nebulous with talk of expecting to make significant progress in 2012 and of seeing the benefits of the recent changes for years beyond, etc. I guess though it’s understandable not to want to stick your neck out too far… in case you get your head knocked off if things don’t pan out as expected.

The nature of the assets is always worth considering in a value play. Of the £133.6m tangible assets I show, net current assets including the net cash of £22m amounted to £59.2m. Fixed assets were £104.7m including £22.3m of land and buildings, £14.4m of deferred tax and £68.0m of equipment so no significant property element here, especially as they comment that market value does not differ significantly from book. The balance was non-current liabilities of £30.3m, most of which was a pension scheme deficit.

Final Foolish thoughts

I conclude that the asset situation is not as strong a value case as it might be where there is a really meaty property or cash element relative to the company’s market value. Here, the property and cash are both by coincidence around £22m each so, with the cap at £101m, even combined they don’t overwhelm it. But they are not irrelevant either, and trading below book is always attractive — it’s just that it’s even more so when the assets have a very large property and/or cash element or anything else that is very liquid and likely to be worth book at least on disposal.

Worth a scroot then, I’d say, but this is one for a value portfolio, not for farmers. Incidentally, farming is currently under discussion on the value board.

Source:  www.fool.co.uk

New oral hygiene applications for nonwovens

Tuesday, May 22nd, 2012

By  Tara Hounslea

IntelliDent, a division of E4 Technologies, has launched an antimicrobial toothbrush shield in pharmacies throughout the US. The disposable, breathable and fast drying Toothbrush Shield was designed to replace the plastic snap-on caps which the company says have been found to trap and breed bacteria.
Made from antimicrobial SMS nonwoven material that wicks away moisture from the toothbrush, the shield was found to provide a 99.9% effective barrier from bacterial and viral transfer of both airborne and surface microbial contact by laboratory tests. It is slit and ultrasonically welded to form a pocket for a toothbrush.
“Being a person on the go, I carry my toothbrush everywhere. I knew a plastic cap wouldn’t protect my toothbrush, but couldn’t find an alternative. I also knew I couldn’t be the only one facing this issue,” said Susan Klinsport, CEO of IntelliDent. “Inspired to find a solution, I invented the Toothbrush Shield. Now it’s easy to protect your toothbrush – traveling, at work, at home and everywhere in between.”
Ms Klinsport founded the company in 2010 to bring to market oral care products designed to make simple routines healthier.  The US-based Centers for Disease Control (CDC) strongly advises against storing toothbrushes in closed plastic containers, as the humid conditions are more conducive to bacterial growth.
The product was named as one of the five finalists of INDA’s Visionary award in January this year.

Source:  ei.wtin.com

 

TAIWAN: Yarn maker Acelon building $35m lyocell plant

Monday, May 21st, 2012

Author:

Acelon Chemicals & Fiber Corp has started construction on a US$35m plant in Changhua County that will make Greencell branded lyocell cellulosic fibres and nonwoven fabric.

The company estimates that the new plant will begin production in the first quarter of 2013, and will generate revenues of up to $12m in its first year. It will be its fourth production facility.

The move is a departure for Acelon, which is a leading producer of nylon and polyester yarn for applications including apparel, swimwear, underwear, sportswear and outerwear.

Source:  www.just-style.com

Kenactiv Innovations, Inc. Launches Activat Fiber Technologies Platform to Meet Rapidly Increasing Demand for Sustainable Woven and Nonwoven Fiber Products

Thursday, May 17th, 2012

Kenactiv Innovations, Inc. launches Activat Fiber Technologies with the platform Activat1 (pictured), which includes bast-fiber products that are suited to all nonwoven manufacturing processes.  (PRNewsFoto/Kenactiv Innovations, Inc.)SCOTTSDALE, Ariz., May 16, 2012 /PRNewswire/ — Kenactiv Innovations, Inc., a leading innovator and manufacturer of sustainable biobased performance fibers and products, announced today the launch of its Activat Fiber Technologies platform to meet rapidly increasing demand for sustainable fiber products by the textile, automotive, healthcare, plastics, packaging and consumer products industries.

(Photo: http://photos.prnewswire.com/prnh/20120516/NY08061 )

Activat Fiber Technologies applies Kenactiv’s innovative and customizable processing and treatments to kenaf, jute and flax fibers to create sustainable solutions for manufacturers seeking high performance yet sustainable alternatives to synthetic and other natural fibers. The AFT platform includes Activat1 bast-fiber products and feedstocks from kenaf, flax and/or jute, which are suited to all nonwoven manufacturing processes.  ActivatBL, bast fiber and core blend products offer excellent performance and value for paper and pulp applications.  Kenactiv Innovations, Inc. is the premier US manufacturer offering kenaf, jute and flax which each have unique performance profiles and suitability for different applications.

As demand for woven and nonwoven textiles increases, so does demand for sustainability in these applications.  A large margin of the nonwovens market is for single use items such as home maintenance and beauty product wipes and healthcare products. With an eye toward controlling  landfills, recyclable and biodegradable or compostable materials are increasingly called for by manufacturers and consumers. Biobased fibers such as kenaf, flax and jute offer the sustainability profile manufacturers and consumers demand with no sacrifice in performance.

“While manufacturers have for some time recognized the sustainability and performance benefits of biobased fibers for these industrial and consumer applications, supply chain stability and quality control have been obstacles to their use,” said Richard W. Elsey, President and COO of Kenactiv Innovations, Inc. “With large scale agricultural capacity right here in the US and the largest bast fiber processing operation in North America–plus additional capacity abroad–Kenactiv Innovations is uniquely able to meet both the volume and quality demands of large scale manufacturers.”

Kenactiv Innovations is a specialist in the natural and enzymatic technologies required to process bast fibers to achieve the fiber length, consistency and tensile strength these demanding applications require while also maximizing their sustainability and cost benefits. Choosing Activat fiber products over petroleum-based or other synthetic and natural fibers offers manufacturers proven operational cost savings, improved risk mitigation, environmental hazard and toxicity reduction, reduced water consumption and decreased emissions.  Kenaf composite and nonwoven automotive products, for example, reduce automobile weight increasing fuel efficiency. And by replacing conventional plastics and fiberglass with biobased alternatives, the vehicle’s overall carbon footprint is further reduced.

The Company offers highly customizable treatments and processes including enhanced or selective absorption, antimicrobial, fire retardance, high flash, water resistance, woolenization and dye compatibility to satisfy customers’ unique design specifications. “Coupled with our diverse raw fiber offerings and processing capacity, we can provide sustainable solutions across a broad spectrum of woven and nonwoven textile applications,” according to Elsey.

For further information regarding Activat Fiber Technologies and products, please contact Jack Galvin EVP of Sales, at jgalvin@kenactiv.com.

About Kenactiv Innovations, Inc.

Kenactiv Innovations, Inc. was founded in 2008, as BioTech Mills, Inc., to innovate and bring to market sustainably sourced and manufactured kenaf and natural fiber products. Kenaf is a fast growing, annually renewable plant that, when combined with the Company’s innovative technologies, has myriad environmentally beneficial applications. The Company’s NafCor products derive from kenaf’s highly absorbent inner core and include DrillWall for the energy industry and  FiberZorb hazard and spill remediation products.  Kenactiv’s versatile Activat fiber products are manufactured from the stalks’ outer bast fiber layer for woven and nonwoven textiles, plastics, packaging, automotive and consumer applications.  The Company’s Kenaf Environmental Solutions products include HMactiv and BCactiv  agricultural and environmental management solutions.

SOURCE Kenactiv Innovations, In

Media market to exceed US$17 billion in 2012

Monday, May 14th, 2012

The market for filtration media will exceed US$17 billion in 2012, says market report company McIlvaine in its Air/Gas/Water/Fluid Treatment and Control World Markets report.

The McIlvaine report adds that the liquid cartridge segment will account for nearly one third of the total while nonwovens and membranes account for almost half the market. Carbon black and other media make up the remainder.
Just fewer than 10% of the total media market will consist of media for masks, respirators and vacuum cleaners. There is wide range of media used in this segment, from inexpensive face masks and paper vacuum bags to the expensive, high efficiency media used in respirators.
The fluid power and mobile segment is dominated by vehicle applications, where fuel filtration filters will account for much of the US$1.4 billion in this segment. The indoor air and gas turbine segment is over US$2 billion and media for the intake for gas turbines and other rotating machinery represent 8% of this total market. (more…)

Israel Pyramid Rules Turn Insurers Into Buyout Targets: Real M&A

Sunday, May 13th, 2012
By Sharon Wrobel on May 10, 2012

Israel’s proposed regulations requiring simplified corporate structures are giving foreign private-equity firms the chance to acquire some of the country’s biggest insurance providers at a bargain. (more…)

New Bostik Egypt plant in full production

Saturday, May 12th, 2012

By             David Stevenson
Fri May 11 2012, 11:42 AM

 

A month after opening and Bostik Egypt, a next generation manufacturing plant in Cairo, is said to be meeting its regional customers’ disposable hygiene adhesive needs and is in full production.

Czech Pegas plans dividend of EUR 1.05 per share

Thursday, May 10th, 2012

May 10 (Reuters) – Czech nonwoven textiles maker Pegas Nonwovens will pay a 1.05 euro per share dividend from 2011 profits, up from 1.0 euro the year before, it said on Thursday.

The total payout will reach 9.69 million euros, and the record date is Oct. 19, with payment coming on Oct. 30. (Reporting by Jan Korselt)

Pegas Nonwovens appoints Jan Sýkora to board of directors

Thursday, May 10th, 2012

By             Nora Wilmsmann
Wed May 9 2012, 12:10 PM

Pegas Nonwovens, a manufacturer of polypropylene/polyethylene nonwoven textiles for the hygiene, industrial, construction, agricultural, medical and other specialised sectors, has appointed Jan Sýkora as a non-executive director of the company’s board of directors.
The final appointment of Mr Sýkora is subject to approval at the Annual General Meeting of Shareholders, which will take place on June 15, 2012.
Mr Sýkora is currently serving as a chairman of Wood & Company, a leading independent Central and Eastern European investment bank. He also serves on various boards of both public and not for profit companies including the Prague Stock Exchange, International School of Prague, Amrest and Young Presidents Organization.