NILIT
18.4.2024 05:31:30 CEST | Business Wire | Press release
NILIT, the global leader in high-performance Nylon 6.6 fibers for the apparel industry and leader in sustainability, that owns the broadest line of sustainable Nylon 6.6 products, is announcing a new joint venture with Shenma Industry Co., Ltd. (hereinafter referred to as Shenma), a subsidiary of China Pingmei Shenma Group, a global leader in the industrial Nylon 6.6 market and a leading supplier to the automotive industry around the world. This new partnership represents a significant expansion of production capacity within China, also demonstrating NILIT’s ongoing commitment to support the growth of global customers and brands. This expansion is highlighted by multiple investments and cooperation designed to enhance production capabilities and deliver more innovative solutions to the textile industry.
“We are pleased to unveil this new greenfield joint venture in China with Shenma to introduce differentiated state-of-the-art technologies to support the local market,” says Ilan Melamed, NILIT Global General Manager. “This collaboration is set to produce premium specialized products in Fully Drawn Yarns (FDY), known for their outstanding strength and smoothness, and Air Textured Yarns (ATY), known for providing unparalleled softness for the textile market, providing quality and performance, all within a highly competitive cost structure. This partnership will open new opportunities in end uses such as home textiles and the automotive industry where strength, smoothness, and durability are essential.” The joint venture will include a new production site in Pingdingshan, the China Nylon City. The facility will be constructed to meet NILIT’s exacting Total Product Sustainability (TPS) standards for environmentally responsible production and is expected to yield a production capacity of 20,000 tons in the next few years.
This strategic partnership brings together the expertise, resources, and networks of NILIT and Shenma, both renowned enterprises in their respective fields. This joint venture combines NILIT's 50 years of global experience in the production and marketing of high-quality Nylon 6.6 yarns for apparel, and Shenma’s leadership excellence in the Chinese market. “With a shared commitment to excellence and innovation, we are poised to leverage our collective strengths to penetrate new markets and amplify our capabilities across China,” continues Ilan Melamed. The joint venture agreement was signed in a ceremony in Shanghai on April 18th attended by leaders from both parties including Mr. Li Mao, Chairman of China Pingmei Shenma Group, and Mr. Michael Levi, Chairman of NILIT Group.
This model of collaboration showcases the mutual benefits of such alliances, including market access, regulatory navigation, and competitive advantage, emphasizing the market leadership of the NILIT team in China led by Shay Kastoriano, NILIT Asia GM, and Shenma as a strong local partner in China.
Furthermore, in response to the increasing demand for NILIT's high-end products and the commitment to innovation and sustainability, NILIT is also accelerating its plans to double the production capacity at NILIT’s existing production site located in Suzhou SIP, where Shenma Industrials will be a minority shareholder. This strategic move is aimed at supporting the growing global market demand for NILIT's products, ensuring customers’ needs for advanced and innovative and sustainable materials are met.
About NILIT
Celebrating 50 years of excellence, NILIT offers the broadest collection of premium sustainable Nylon 6.6 yarns designed to empower the apparel industry’s shift to a more sustainable position. With production plants in 4 continents (North America, South America, EMEA and ASIA), NILIT is dedicated to creating innovative and sustainable solutions to advance the textile industry.
NILIT launched industry-first SENSIL® ByNature made using bio-gas from reclaimed landfill waste. SENSIL® BioCare is enhanced with a special technology proven to help lessen the persistence of textile waste in sea water and in landfills. SENSIL® EcoCare, crafted with recycled Nylon, improves circularity and LCA. SENSIL® WaterCare with embedded color saves up to 100% of the water used in the traditional wet dyeing process. Plus, the complete SENSIL® portfolio of products is manufactured according to NILIT’s Total Product Sustainability criteria. These responsible yarns give designers the beautiful, environmentally considerate performance fabrics they need to create apparel collections that respond to consumer demands.
About Shenma
As a leading enterprise in the global Nylon 6.6 industrial yarn industry, Shenma has a strong Nylon 6.6 raw material base, providing a solid guarantee for its industrial yarn production. Therefore, its outstanding industrial yarn production capacity is well-known. It is a leading supplier in the global automotive industry, winning the trust of many leading automotive brands with its key components such as airbags and tire cords.
Through deep cooperation with these automotive brands, Shenma's reputation has been highlighted internationally. These partnerships demonstrate that Shenma is able to meet the strict quality and safety standards required by top manufacturers such as General Motors, Ford, Toyota, and Volkswagen. These partnership relationships not only highlight Shenma's commitment to the Nylon 6.6 supply chain, but also demonstrate Shenma's deep commitment to partners and customers.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240417236937/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Ant International Secures Payment Institution Licence from the Central Bank of Brazil4.9.2026 16:41:00 CEST | Press release
Expanding the company’s capability to support local partners with FinAI solutions Ant International, the leading global digital payment, digitisation, and FinAI solutions provider, today announced that it has received a Payment Institution (PI) licence from the Central Bank of Brazil. “With the Central Bank's invaluable support, we are ready to step up more reliable and comprehensive global payment and account services to enterprises, platforms and SMEs in the country's dynamic digital economy, in ever deeper collaboration with its highly developed payments ecosystem and financial services industry,” said Rodrigo Reif, General Manager, Ant International Brazil. Ant International provides cross-border payments and account services, embedded credit and treasury services, and other finAI and blockchain solutions to clients across Asia, Europe and the Americas. The company processes over 20 million transactions daily, connecting 2 billion consumer accounts to 150 million global merchants v
Bending Spoons completes the acquisition of Airtable4.9.2026 14:30:00 CEST | Press release
Bending Spoons S.p.A. (NASDAQ: BSP) has completed the previously announced acquisition of Airtable, the platform used by more than 500,000 organizations to reshape how teams organize data and manage critical workflows. “Airtable continues to grow because customers value its best-in-class flexibility,” said Luca Ferrari, Bending Spoons CEO and co-founder. “Teams can bring all their data, context, and AI agents together in one place, shape their workflows around their specific needs, and progressively expand their use of the platform over time. As we take the reins, our focus will be on sustaining that growth by investing heavily in Airtable’s product, customer support, and go-to-market capabilities.” “I’m proud of what the Airtable team has built and excited to see the business enter this next chapter,” said Howie Liu, co-founder of Airtable. “I’m confident Bending Spoons has the resources and long-term perspective to help Airtable continue delivering exceptional value to its customers
EQT to acquire McGill and Partners, a leading specialty (re)insurance broker for USD 2.0 billion, from Warburg Pincus4.9.2026 13:48:00 CEST | Press release
Warburg Pincus and McGill and Partners have reached an agreement with EQT that will see Warburg Pincus sell its majority stake to EQT McGill and Partners founders, management team and colleagues will re-invest alongside EQT, retaining a meaningful ownership stake in the firm going forward as they continue to serve clients globally Maintains commitment to firm’s independent model and culture of ownership, developed organically since its founding in 2019 EQT will partner with Steve McGill and the management team to accelerate organic growth, including via talent recruitment, further development of technology and data capabilities, and expansion of innovative digital solutions EQT and McGill and Partners are pleased to announce that EQT X ("EQT") has entered into a definitive agreement to acquire a majority stake in McGill and Partners from Warburg Pincus for USD 2.0bn. Founder and Chief Executive Officer Steve McGill will continue to lead the firm, while Chairman John Lloyd will remain a
A Race Is Never Won Alone: With La Tavolata, Barilla Brings the Paddock Family Together on the Monza Grid4.9.2026 12:18:00 CEST | Press release
A nearly 100-meter-long dinner table hosted more than 200 guests for an evening celebrating collaboration, trust and the bonds built beyond competition. On Thursday evening ahead of the Formula 1® Italian Grand Prix, Barilla transformed one of the sport’s fastest and most competitive environments into a place where the Paddock Family took center stage. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260902463001/en/ La Tavolata by Barilla on the starting grid of the Monza circuit. More than two hundred people gathered around a single table: drivers, Team Principals, mechanics, engineers, strategists, safety and medical car drivers, personal trainers, tire technicians. The individuals whose collaboration, precision and trust shape every race, every decision and every performance. A nearly 100-meter table set with plates and pasta. With the first-ever Tavolata organized by Barilla and F1, people from across the Formula 1® ecosy
Aqara Showcases The New Smart Lighting Series and Immersive Smart Home Experience at IFA 20264.9.2026 11:30:00 CEST | Press release
Aqara, a global leader in IoT, today announced a new lineup of smart lighting products and a global community platform for smart space creators, at IFA 2026 in Berlin. The announcements reflect Aqara's ongoing vision for AI-driven spatial intelligence — spaces that understand their users and adapt to how people actually live in them. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260904365343/en/ Aqara Showcases The New Smart Lighting Series and Immersive Smart Home Experience at IFA 2026 The new lighting series — spanning indoor and outdoor use — integrates seamlessly with Aqara's existing ecosystem of sensors, switches, and hubs, bringing complete whole-space lighting scenarios and automated controls to life. The new Aqara products showcased include the Floor Lamp T1, LED Downlight T2, LED Strip T2, Outdoor String Lights H1, and Permanent Outdoor Lights H1. In addition, the company will present Aqara Builder, a platform fo
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom