02 Jan 2018

Aquafil to conquer America. Press: L’ Adige.

After Phoenix, two more carpet recycling plants to produce raw materials for ECONYL® fiber. Revenues of around $530 million.

TRENTO – Italy. Press: L’Adige 30/12/2017 Industria.

There is not only the new plant in Phoenix, Arizona, a $10 million plant under construction. Aquafil – listed at the stock exchange – also has an extensive investment program in the United States and in particular two other carpet recycling plants, one in Sacramento, California, the other in Ohio or Texas. “We intend to open several recycling plants in the United States,” confirmed Chairman and CEO of Aquafil, Giulio Bonazzi. “In Phoenix, the plant is under construction. In Sacramento, we have identified several equipped areas owned by large real estate companies, such as in Phoenix. The third plant  could be in Ohio, Texas or Georgia.” Aquafil already owns plants in Cartersville, GA. “The goal is to recycle used carpets, separating the nylon from the rest of the spent carpet. The recycled raw material is then sent to Slovenia, where we produce ECONYL® yarn.” The yarn produced with this system that supports a circular economy is the flagship product of Aquafil, so much so that it also inspired the abbreviation for the Star segment of Piazza Affari: Ecnl. Currently, 30% of Aquafil’s revenues come from ECONYL® fibers, but the intention is to increase the share. The company will close 2017 with a turnover between 525 and 530 million euro, an increase of about 10% from 2016. The growth prospects have been confirmed by the study of Equità Sim Spa, a company specializing in the analysis of listed companies, which recommends to buy the stock, thanks to “good market fundamentals”. Among the positive short-term indicators, the Equità Sim cites the expected doubling of production in China and, precisely, the + 50% expected in the production of ECONYL® fiber. Aquafil’s “green” yarn is conquering space especially among the fashion and sportswear brands. On January 30, Aquafil meets in assembly to complete the structure of the company and update the Statute.  “We are proceeding with the putting into operation of the company” concludes Bonazzi.  F. Ter.