Latest news with #Andritz
Zawya
11 hours ago
- Business
- Zawya
Mepco unit breaks ground on tissue manufacturing facility at Saudi's KAEC
Middle East Paper Company (Mepco), one of the largest paper manufacturers in the region, has announced that its key unit - Juthor Paper Manufacturing Company - has broken ground on TM6 - the second production line for tissue manufacturing at King Abdullah Economic City (KAEC) - near Jeddah. TM6, which is being set up at a total investment of SAR345 million ($92 million), will significantly expand Juthor's manufacturing output, increasing annual capacity to 120,000 tonnes and operating at a speed of 2,100 m per minute. Andritz, an Austria-based international technology group, will be assisting Juthor in the project by providing advanced plants, equipment, services, and digital solutions, to the group. It will also be responsible for the manufacture, supply, and installation of the facility within a two-year period. TM6 supports Saudi Arabia's Vision 2030 by advancing local manufacturing, reducing reliance on imports, creating skilled jobs, and adhering to world-class environmental standards. The groundbreaking ceremony was attended by senior representatives from different government and private entities like Modon and Economic Cities and Special Zones Authority along with the Juthor and Mepco senior leadership teams. Commenting on the launch, Musab Al-Muhaidib, the Chairman of the Board at Mepco Group, said: "The launch of TM6 is a testament to our unwavering belief in Saudi Arabia's industrial future. As we align with Vision 2030, this expansion strengthens our role in enabling local manufacturing and advancing the Kingdom's self-sufficiency in the tissue sector." The facility will utilise cutting-edge technology and sustainable manufacturing methods to align with Mepco's environmental goals, including efficient resource use and minimizing carbon emissions," he stated. Mepco Group President Eng. Faisal Haddawi said: "We do not simply build capacity - we build value, resilience, and trust. TM6 will accelerate our strategy for sustainable growth while deepening our contribution to the Saudi economy and regional markets." Juthor remains committed to continuous investment in manufacturing innovation to meet the growing demand for high-quality tissue paper products in the Kingdom and the wider Mena region, he added. Copyright 2024 Al Hilal Publishing and Marketing Group Provided by SyndiGate Media Inc. (
Yahoo
18-06-2025
- Business
- Yahoo
Are Industrial Products Stocks Lagging Andritz (ADRZY) This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Andritz (ADRZY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? Let's take a closer look at the stock's year-to-date performance to find out. Andritz is a member of our Industrial Products group, which includes 189 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group. The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. Andritz is currently sporting a Zacks Rank of #2 (Buy). Within the past quarter, the Zacks Consensus Estimate for ADRZY's full-year earnings has moved 0.9% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend. Our latest available data shows that ADRZY has returned about 43.1% since the start of the calendar year. In comparison, Industrial Products companies have returned an average of 0.9%. This shows that Andritz is outperforming its peers so far this year. One other Industrial Products stock that has outperformed the sector so far this year is Greif (GEF). The stock is up 3.5% year-to-date. For Greif, the consensus EPS estimate for the current year has increased 0.2% over the past three months. The stock currently has a Zacks Rank #2 (Buy). To break things down more, Andritz belongs to the Industrial Services industry, a group that includes 18 individual companies and currently sits at #143 in the Zacks Industry Rank. On average, this group has lost an average of 30.2% so far this year, meaning that ADRZY is performing better in terms of year-to-date returns. In contrast, Greif falls under the Containers - Paper and Packaging industry. Currently, this industry has 11 stocks and is ranked #30. Since the beginning of the year, the industry has moved -10.5%. Going forward, investors interested in Industrial Products stocks should continue to pay close attention to Andritz and Greif as they could maintain their solid performance. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Andritz (ADRZY) : Free Stock Analysis Report BioCryst Pharmaceuticals, Inc. (BCRX) : Free Stock Analysis Report Greif, Inc. (GEF) : Free Stock Analysis Report Coeur Mining, Inc. (CDE) : Free Stock Analysis Report Walgreens Boots Alliance, Inc. (WBA) : Free Stock Analysis Report Liberty Media Corporation - Liberty Formula One Series A (FWONA) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Yahoo
23-05-2025
- Business
- Yahoo
Andritz Equips Pacific Jeans to Recycle Denim Waste
International technology group Andritz has teamed with Bangladesh-based Pacific Jeans to help the latter's pursuit of more sustainable clothing production. The Austria-based company supplied and commissioned a Rexline tearing system for Pacific Jeans, which will allow the company to recycle waste generated during the cutting process of producing jeans. More from Sourcing Journal BGMEA Seeks 3-Month Delay for India's Land Port Ban on Garment Exports Bangladesh, US Engage in Free Trade Agreement Talks Chemical Textile Recycler Eeden Closes $20M Funding Round The Rexline tearing system offers a capacity of up to 800 kg. of fiber per hour, allowing Pacific Jeans to create and provide high-quality fibers to the spinning industry. Yarns from these fibers also will be used by the company to manufacture new jeans. The use of recycled fibers significantly reduces the carbon footprint and cost of clothing production versus using virgin cotton. The garment industry accounts for a large portion of Bangladesh's economy, earning around $50 billion in exports in 2024, according to the Export Promotion Bureau. The country ranks second behind China among the world's top clothing exporters. Fast fashion has been a major part of Bangladesh's garment exports, with brands such as H&M sourcing much of its product from the country. But Bangladesh also has started making moves to reduce its impact on the growing problem of global textile waste. In 2023, the country held its first Bangladesh Circular Economy Summit, gathering stakeholders from the South Asian nation along with global brands and governmental representatives to work toward a more circular garment industry. Pacific Jeans Group has produced premium denim in Bangladesh since 1984. The company has made a commitment to sustainability, working with partners such as Andritz to improve circularity and achieve a net-zero climate impact. 'It has been a pleasure to work with Andritz on this Rexline installation, which helps us to build our responsible supply chain,' said Syed M. Tanvir, managing director of Pacific Jeans. 'Bangladesh's dynamic clothing industry has great potential for post-industrial waste recycling. By transforming our cutting waste and reusing this recycled fiber in fabric production, we aim to close the loop and move the fashion industry towards a greener future.' Sign in to access your portfolio
Yahoo
15-05-2025
- Business
- Yahoo
Is Andritz (ADRZY) Outperforming Other Industrial Products Stocks This Year?
The Industrial Products group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Andritz (ADRZY) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? By taking a look at the stock's year-to-date performance in comparison to its Industrial Products peers, we might be able to answer that question. Andritz is a member of our Industrial Products group, which includes 190 different companies and currently sits at #9 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different sector groups. The average Zacks Rank of the individual stocks within the groups is measured, and the sectors are listed from best to worst. The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. Andritz is currently sporting a Zacks Rank of #2 (Buy). Within the past quarter, the Zacks Consensus Estimate for ADRZY's full-year earnings has moved 8.3% higher. This is a sign of improving analyst sentiment and a positive earnings outlook trend. Based on the latest available data, ADRZY has gained about 42.7% so far this year. Meanwhile, the Industrial Products sector has returned an average of -1.3% on a year-to-date basis. This shows that Andritz is outperforming its peers so far this year. Another Industrial Products stock, which has outperformed the sector so far this year, is Insteel Industries (IIIN). The stock has returned 37% year-to-date. In Insteel Industries' case, the consensus EPS estimate for the current year increased 34.8% over the past three months. The stock currently has a Zacks Rank #1 (Strong Buy). Looking more specifically, Andritz belongs to the Industrial Services industry, which includes 18 individual stocks and currently sits at #167 in the Zacks Industry Rank. On average, stocks in this group have lost 7.4% this year, meaning that ADRZY is performing better in terms of year-to-date returns. On the other hand, Insteel Industries belongs to the Wire and Cable Products industry. This 3-stock industry is currently ranked #14. The industry has moved -4% year to date. Andritz and Insteel Industries could continue their solid performance, so investors interested in Industrial Products stocks should continue to pay close attention to these stocks. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Andritz (ADRZY) : Free Stock Analysis Report Insteel Industries, Inc. (IIIN) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research Sign in to access your portfolio
Fibre2Fashion
01-05-2025
- Business
- Fibre2Fashion
Austria's Andritz's orders surge 20%, revenue declines 6.6% in Q1 2025
Austria's technology group Andritz has achieved strong order growth during the first quarter (Q1) of 2025, with order intake increasing by almost 20 per cent year-over-year (YoY). The growth in orders during Q1 was primarily fuelled by strong performances in the Pulp & Paper segment, up 51.7 per cent and Hydropower which rose by 14.3 per cent YoY. However, the overall revenue of the group declined by 6.6 per cent YoY to €1,761 million (~$1.88 billion) as the Pulp & Paper segment saw a revenue decline of 22.5 per cent and Metals revenue went down by 6.3 per cent, reflecting the challenging market conditions throughout 2024. Andritz has reported an increase of 20 per cent YoY in Q1 2025 order intake, led by strong growth in Pulp & Paper and Hydropower. However, revenue declined 6.6 per cent to €1,761 million (~$1.88 billion) due to weakness in Pulp & Paper and Metals. Net income fell to €89 million (~$95.2 million). Andritz reaffirmed its 2025 guidance and noted no immediate impact from rising global tariffs. In contrast, Hydropower segment reported 23.3 per cent increase in revenue, while Environment & Energy rose by 6.2 per cent, both benefitting from the execution of a strong order backlog. In Pulp & Paper, Q1 2025 saw significant project wins, including major pulp mill orders from the US and Japan, as well as a new contract for a complete pulp mill in China, reflecting continued momentum in the renewables sector, Andritz said in a press release. The net income of the group decreased to €89 million (~$95.2 million) on the back of lower EBITA, a reduced financial result, and slightly higher amortisation resulting from recent acquisitions. The comparable EBITA of €145 million saw a decline of 5.9 per cent in Q1 2025. Despite the drop in absolute earnings, the group's profitability remained stable, with the comparable EBITA margin holding at 8.2 per cent, slightly up from 8.1 per cent in the same period last year. The operating cash flow of the group declined to €73 million in Q1 2025, primarily due to an increase in working capital related to ongoing projects. In February 2025, Andritz acquired LDX Solutions, a North American provider of emission reduction technologies and related services. The acquisition broadens Andritz's environmental technology portfolio and expands its footprint in the US market. LDX Solutions will be integrated into the Environment & Energy business area, added the release. 'Considering the uncertain economic environment, we are overall satisfied with our business performance in the first quarter. The robust order intake underlines the trust our customers place in our technologies. We are happy that we could further increase the share of our service business to stabilize our revenue and profitability. So far, we have not seen any impact on our business from rising global tariffs, but we are observing this issue closely,' said Joachim Schonbeck, chief executive officer (CEO) at Andritz. Andritz reaffirmed its 2025 guidance, projecting revenue between €8.0 billion and €8.3 billion (~$8.56-$8.88 billion). Supported by ongoing initiatives to enhance competitiveness and a favourable revenue mix driven by the expanding service business, the company expects its comparable EBITA margin (excluding non-operating items) to range between 8.6 per cent and 9.0 per cent. Fibre2Fashion News Desk (SG)
