POLYESTER COUNCIL PRES.: Donald Lehman, president of the North American Textile Polyester Business for Hoechst Celanese, has been elected chairman of the Polyester Council of America. Lehman has been with...
POLYESTER COUNCIL PRES.: Donald Lehman, president of the North American Textile Polyester Business for Hoechst Celanese, has been elected chairman of the Polyester Council of America. Lehman has been with Hoechst since 1969 and had previously served as president of the Textiles Fibers Group. He succeeds Richard Angiullo, vice president of sourcing for DuPont.
FAB PROFIT FALLS: Fab Industries Inc. reported fourth-quarter earnings dropped 51.1 percent to $2.4 million, or 40 cents a share, from $4.8 million, or 79 cents, a year ago. Sales for the three months ended Dec. 2 slipped 8.6 percent to $47.4 million from $51.8 million. For the full year, earnings of the maker of knit fabrics, laces and home textiles sank 37.7 percent to $9.4 million, or $1.57 a share, from $15.1 million, or $2.44. Sales were down 4.1 percent to $182 million from $189.5 million. The firm makes knitted textile fabrics, laces and finished home products. "We were squeezed between our suppliers raising prices on raw materials and our customers who weren't able to pay for the increases in a weak market," said Samson Bitensky, chairman, president and chief executive officer of Fab. "There was a distinct lack of business in certain areas. There were some bright spots, but not what we'd like to see. There's no push for long-term bookings. It's becoming a week-to-week business."
THINK ABOUT WOOL: As part of its new promotion package titled, "If You Think You Know American Wool, Think Again," the American Wool Council, based in Englewood, Colo., is offering a new brochure outlining its structure, goals and services. The AWC markets American-grown wool and wool products to both domestic and international textile, apparel and home furnishings businesses.
SCREEN PRINT AWARD: Hapco Screen Printing of Emmaus, Pa., has been named the winner of Monsanto's second-annual Acrilan screen-print contest. The contest highlights the work of high-quality printers on fleece made from Monsanto's Acrilan acrylic fiber. JML Productions, Brooklyn, N.Y., took second place, and H.H. Cutler, Granite Falls, N.C., was third.
Hermès is launching a Laundromat pop-up shop in NYC - dubbed Hermèsmatic - where customers can bring their old scarves to be dip-dyed by an expert. Get all the details on WWD.com. #wwdnews (📷: @donstahl)