#Man-Made Fibers

2025-12-11

Ascend Performance Materials secures court approval for restructuring and appoints new CEO

Ascend Performance Materials has reached a major milestone in its Chapter 11 process: the U.S. Bankruptcy Court for the Southern District of Texas has confirmed the company’s Plan of Reorganization. Ascend expects to emerge from Chapter 11 by year’s end with a significantly improved capital structure. In parallel with the restructuring progress, Ascend announced a leadership change.

Patrick Schumacher has been appointed Chief Executive Officer, succeeding Phil McDivitt. McDivitt, who has led Ascend since 2017 and oversaw the company's global expansion, will remain as a special advisor to ensure a smooth transition.

CEO Schumacher brings more than 25 years of experience in chemicals and industrials, including senior roles at Olin Corporation and Celanese. He emphasized his commitment to driving Ascend’s operational and financial resurgence, supported by the company’s resilient workforce.

McDivitt highlighted the momentum built in recent years and expressed confidence that Schumacher is the right leader as Ascend enters its next phase.

Ascend continues to operate normally as it completes final steps toward emergence and refocuses on profitable growth in high-performance materials.

ITMA Asia 2026: How Barmag is reshaping the future of man-made fiber production

The textile industry is entering a groundbreaking era. Manufacturers face rising energy prices, growing sustainability demands, increasing labor shortages, and an unprecedented need for flexibility. For a globally active textile industry, where competitiveness is closely linked to production efficiency and cost leadership, this means that technology is no longer merely a means of improving operational processes – it is increasingly becoming a strategic differentiator.

Greater efficiency for tomorrow’s textile industry

From September 24 to 27, 2026, Barmag, together with BB Engineering (BBE), will present innovative solutions for the efficient and sustainable production of synthetic yarns at the Egy Stitch & Tex Expo in Cairo, Egypt. Under the motto “A New Era. Powered by Innovation.,” experts from Barmag and BBE will present technologies spanning the entire textile value chain — from melt to yarn — at the ATAG Ltd. booth (Hall 1, Booth C1).

The LYCRA Company expands its co-creation vision through an immersive Lifestyle District at Intertextile Shanghai.

The LYCRA Company, a global leader in fiber and technology solutions for the apparel industry, is reimagining the trade show experience at Intertextile Shanghai Apparel Fabrics Autumn Edition, which opened today in China. Building on the success of last year's ALL IN concept, the company has expanded its co-creation vision into a 356-square-meter Lifestyle District featuring partners Jingzili New Material, JYT Textile, Lianxingfa Knitting, and Trend Textile. The district is part of a larger 895-square-meter pavilion showcasing a total of 19 co-exhibitors. Together, they demonstrate how innovations in fiber, fabric, and garments can be combined to create compelling solutions for both work and play.

SHIMA SEIKI to showcase flat knitting and digital design solutions at Egypt Stitch & Tex

Leading Japanese computerized flat knitting technologist SHIMA SEIKI MFG., LTD. of Wakayama, Japan, together with its sales representative in Egypt, TTS (EL MASRIA FOR TRADE & TECHNICAL SERVICES), will participate in the upcoming 24th International Exhibition for Textile & Carpet Machineries, Printing Technologies and Accessories (Egypt Stitch & Tex) to be held in Cairo, Egypt this month.

Coats Digital launches AI-powered GSD RealMotion for motion analysis

Coats Digital has launched GSD RealMotion, an AI-powered solution designed to provide apparel manufacturers with greater visibility into factory-floor operations. By analysing shop-floor video and applying Coats Digital’s GSD methodology, the solution turns video recordings into structured, motion-by-motion method studies.