MSYG wins Leadership in Innovation Award from the North Carolina Manufacturing Extension Partnership
Last week, Meridian Specialty Yarn Group (MSYG) won a top award from The North Carolina Manufacturing Extension Partnership (NCMEP) for Meridian’s commitment to building a new, world-class, state-of-the-art, textile plant in North Carolina at a time when other regional textile plants were closing or moving overseas.
At a ceremony and banquet held Wednesday, Nov. 14, MSYG was honoured with NCMEP’s Leadership Award for Innovation. The awards ceremony was held in conjunction with the North Carolina Manufacturing Conference, which took place Nov. 13 and 14 at the Durham Convention Center. Attending the ceremony to accept the award for MSYG were Tim Manson, the company’s president, Stephen Hudson, Senior Vice President of Sales, and Debbie Sigmon, Human Resources Director.
This is the fourth year in a row that NCMEP has recognized North Carolina companies for manufacturing excellence and exceptional performance across five categories: 1) Developing Markets, 2) Continuous Improvement, 3) Innovation, 4) Advanced Talent Management and 5) Sustainable Manufacturing.
MSYG was singled out for the Leadership in Innovation Award for a number of reasons, according to the following statement from NCMEP released on Nov. 14:
“Meridian Specialty Yarn Group (MSYG), like the rest of the textile market during 2001-2010, felt the impact of job and market losses, but survived by doing things that no one else would do. They could have closed their doors, but chose to invest in their people and the community. Currently they have 270000 square feet at their plant in Valdese and are in the midst of a major, multi-million-dollar expansion of another 116000 square feet, along with an extensive modernization of their existing plant. This will require the addition of at least 25 employees but it will make the facility one of the most modern yarn and fiber dyeing facilities in the world.”
Meridian’s new plant is expected to open this winter and the Leadership Award for Innovation reflects a tremendous amount of effort on the part of the employees and management, as well as the company’s owner, Meridian Industries.
“Over the past four years the employees and management team at MSYG have worked very hard bringing our vision of a world-class textile operation to life here in North Carolina,” said Manson. “ I am very grateful for their commitment and the tireless efforts that have brought us to this point in time. I also want to thank Dan St. Louis of The Manufacturing Solutions Center for nominating Meridian. I am very proud of this award, and see this as the beginning of great things ahead.
Meridian Specialty Yarn Group, Inc. (MSYG) is the leading specialty yarn manufacturer in the United States. At the company’s wet processing plant in Valdese, North Carolina, US, Meridian offers package dyed yarn, space dyed yarn, top dyed wool, yarn printing and twisting. At the novelty spinning operation in Ranlo, North Carolina, US, Meridian produces coarse count novelty yarn from various substrates using six different yarn formation technologies. The end uses for these yarns include home furnishings, carpeting, hosiery, industrial, craft and apparel. Meridian Specialty Yarn Group is a Meridian Industries, Inc. company.
Coats wins ICAEW Corporate Development Award
Coats, the world’s leading industrial thread manufacturer, has been recognised for its outstanding achievements in increasing growth and shareholder value by the Institute of Chartered Accountants in England and Wales (ICAEW). Coats was presented with the Corporate Development Award at the ICAEW Corporate Finance Faculty’s Annual Reception, held last night at Goldsmiths’ Hall in London.
The Corporate Development Award recognises London-listed companies whose innovative strategy have made the most effective use of M&A to grow their business, and increase shareholder value. ICAEW’s Corporate Finance Faculty, in collaboration with the M&A Research Centre at Cass Business School, devised a unique ‘best-in-class’ methodology to analyse the contribution of substantial acquisitions to the acquiring companies’ total returns and their overall corporate performance.
Simon Boddie, Chief Financial Officer, Coats, said: ‘A key part of our strategy for development and growth is to make acquisitions of companies with unique capabilities that can leverage off the existing Coats network. The businesses we have acquired are all performing well under our ownership and to have our success recognised externally with the ICAEW’s Corporate Development Award is very rewarding. We have a small in-house team which, together with support from our professional advisors, has been able to develop a previously underused corporate muscle and this award demonstrates we are stretching it well.’
Coats acquired Patrick Yarn Mill, a manufacturer of high-performance engineered yarns based in North Carolina, US, in December 2017. In June 2016 it acquired Gotex, a Spanish based company which designs and manufactures high performance fibres, yarns and tapes used in the telecommunications energy and oil and gas sectors. Also in June 2016, it acquired Fast React Systems, a global provider of software solutions to improve the operational efficiency of manufacturers, sourcing companies and retailers in the apparel and footwear industry. Coats entered the FTSE4Good UK Index in July 2018 and in June 2017 it re-entered the FTSE 250, having been a founding member of the FT 20 Index in 1935.
David Petrie, ICAEW Head of Corporate Finance, said: ‘It is essential that businesses continue to strive towards growth and advancement despite times of uncertainty. This year’s winner of the Corporate Development Award has done exactly that; Coats has engaged in numerous major deals and its innovative M&A strategy resulted in impressive growth numbers and increase in shareholder value.’
The Corporate Finance Faculty is ICAEW’s centre of professional excellence in corporate finance contributing to policy development and consultations by international organisations, governments, regulators and other professional bodies.
Coats is the world’s leading industrial thread manufacturer and a major player in the Americas textile crafts market. At home in more than 50 countries, Coats employs 19,000 people across six continents. Revenues in 2017 were USD 1.5 billion.
Coats’ pioneering history and innovative culture ensure the company leads the way around the world: providing complementary and value added products and services to the apparel and footwear industries; applying innovative techniques to develop high technology Performance Materials threads and yarns in areas such as automotive, composites and fibre optics; and extending the crafts offer into new markets and online.
Headquartered in the UK, Coats is a FTSE 250 listed company on the London Stock Exchange. It is the Official Thread Supplier to the Royal Shakespeare Company.
- Each year we make enough thread to go into 8 billion pairs of jeans – that is one for every person on the planet
- Every month Coats produces enough thread to stretch all the way to the sun
- More than 450 million pairs of shoes are made every year using Coats’ thread
- More than 100 million car airbags are made using Coats’ Performance Materials thread every year
- In 1879 Thomas Edison used Coats’ thread in his experiments to invent the light bulb
- Our Red Heart knitting and crochet yarn brand has been named ‘America’s Most Recommended’ by the Women’s Choice Award for three years running
- Our flame retardant Performance Materials threads can withstand temperatures as high as 1,000 degrees Celsius
ICAEW connects over 147000 chartered accountants worldwide, providing this community of professionals with the power to build and sustain strong economies.
Training, developing and supporting accountants throughout their career, we ensure that they have the expertise and values to meet the needs of tomorrow’s businesses.
Our profession is right at the heart of the decisions that will define the future, and we contribute by sharing our knowledge, insight and capabilities with others. That way, we can be sure that we are building robust, accountable and fair economies across the globe.
ICAEW is a member of Chartered Accountants Worldwide (CAW), which brings together 11 chartered accountancy bodies, representing over 1.6 million members and students globally.
Aleph honoured with Future Textile Award once more!
A new recognition for Aleph and the LaForte integrated system came from WTiN, one of the industry European leading network, for the second time in 2 years. The awarding ceremony took place in Amsterdam During an international conference related to Industry 4.0 and innovation in textile materials.
The Awards intend to underline successes and remarkable breakthrough in textile industry and celebrate intuitions of Companies operating at international level.
The protagonist of this year award is the LaForte 200 Paper, super-wide format 340cm with sublimation inks that was presented at SGIA Expo recently. The printer gained the approval of the jury and was rewarded with Best Innovation Home Textiles Award 2018.
With this important achievement in home textiles, Aleph is looking forward to being in Frankfurt for Heimtextil 2019.
Created in 1999 in the area of Como, Italy, the heart of the Italian textile manufacturing excellence, Aleph is now a company with a solid know-how in the construction of printing machines and in the development of supporting software.
From large format textile printers to drying systems, from proprietary software to consumables, Aleph develops and manufactures technologically advanced products for each individual printing process, and offers reliable after-sales technical support services.
Outstanding corporate culture honoured
To advance innovations and invest time in ideas in order to push the boundaries of what is possible together: This is the winning recipe for the Corporate Culture Award’s special award “Best Culture of Innovation”, which Covestro received this Thursday. Out of 153 submissions, five winning companies were selected. The Serviceplan Group, the culture analyst Deep White, the HR consultancy Promerit and the ZEIT publishing group have created the award and presented it for the first time. The decisive factor for the award to Covestro was the innovation-driven, cross-border working method, which is expressed in the first in-house start-up competition “Start-up Challenge”. The competition selected a winning team from more than 500 international business ideas, which, with financial support, can set up its start-up in the company for a period of one year.
“Innovation at Covestro is the concern of every one of our more than 16000 employees, not just those in research and development,” says Markus Steilemann, CEO of Covestro. “We have created a culture of openness and appropriate fault tolerance as well as a comprehensive infrastructure for ideas: an Internet platform, regular international innovation festivals and a new internal start-up competition. For us, innovation means working together every day to push the boundaries of what is possible. That’s why we’re particularly proud to be recognized for this.”
The “Start-up Challenge” is to be continued in the coming year in order to further advance the company’s innovative culture.
With 2017 sales of EUR 14.1 billion, Covestro is among the world’s largest polymer companies. Business activities are focused on the manufacture of high-tech polymer materials and the development of innovative solutions for products used in many areas of daily life. The main segments served are the automotive, construction, wood processing and furniture, and electrical and electronics industries. Other sectors include sports and leisure, cosmetics, health and the chemical industry itself. Covestro has 30 production sites worldwide and employs approximately 16,200 people (calculated as full-time equivalents) at the end of 2017.