Fast Retailing Shares Drop as Uniqlo Japan August Sales Fall 
ByteDance Secures $29.6 Billion Loan to Boost AI Investment 
Honda Targets $9.4 Billion in Cost Cuts as China EV Competition Intensifies 
Thomson Reuters C-Track Cyberattack Hits Courts Across U.S. and Canada 
Berkshire Hathaway Eyes Bigger Stakes in Japan’s Top Trading Houses 
GSM Eyes US, Europe Expansion Ahead of 2028 Hong Kong IPO 
MongoDB Stock Sinks 14% as Atlas Growth Misses Expectations 
OpenAI Launches GPT-6 Astra With Advanced AI Agent Capabilities 
Adobe Names Anil Chakravarthy CEO as AI Push Accelerates 
Anthropic Nears $15 Billion Credit Deal Ahead of IPO 
South Korea, US Discuss Chip Investments Amid Tariff Plans 
CATL Shares Fall as Hungary Plant Faces Safety Halt 
Milei Threatens Falkland Oil Firms With Sanctions 
Tesla Cybercab Launch Puts Robotaxi Ambitions in Focus 
Volkswagen Approves 50,000 More Job Cuts in Major Restructuring 
US Tech Giants’ AI Bond Boom Raises Euro Zone Borrowing Risks 
OpenAI Rejects Apple Trade Secret Theft Claims 
Add as a preferred source on Google
The National Council of Textile Organizations (NCTO) and the American Fiber Manufacturers (AFMA) announced a merger of their respective organizations effective April 1, 2018.
|
|||
NCTO Chairman William V. “Bill” McCrary Jr., Chairman & CEO, William Barnet & Son, Spartanburg, S.C. said, “The NCTO merger with AFMA strengthens the U.S. textile industry’s ability to influence federal policy. It brings new members and financial resources to NCTO and extends the organization’s political reach.”
“It also cements NCTO’s status as the voice of every facet of the U.S. textile production chain, a fact that will help NCTO to more effectively influence federal policies that affect U.S. textile investment, production and workers,” McCrary added.
AFMA Chairman Mark Ruday, Senior Vice President, DAK Americas, Charlotte, N.C. said, “AFMA’s merger with NCTO will allow U.S. fiber producers to keep the sector’s seat at the federal policy table.”
“As a multi-billion industry with tens of thousands of employees, it is critical that the U.S. man-made fiber sector stay engaged in Washington,” Ruday continued.
Noting that NCTO constantly monitors and engages in all major textile policy matters that impact the entire production chain, including key international trade negotiations, congressional initiatives and federal procurement and regulatory matters, Ruday said, “Merging with NCTO will ensure the U.S. fiber manufacturers have an effective voice on policy matters affecting the sector.”
The merged organization will be called by the name National Council of Textile Organizations, and NCTO President & CEO Auggie Tantillo will continue in that position.
NCTO is a Washington, DC-based trade association representing the U.S. textile industry.
Four councils, Fiber, Yarn, Fabric & Home Furnishings, and Industry Support comprise NCTO’s leadership structure. Each represents a major sector of the U.S. supply chain and elects its own officers who make up NCTO’s board of directors.
AFMA is an Arlington, Va.-based trade association representing U.S. companies that manufacture synthetic and cellulosic fibers.
- U.S. employment in the textile supply chain was 550,500 in 2017.
- The value of shipments for U.S. textiles and apparel was $77.9 billion last year, a 16% increase since 2009.
- U.S. exports of fiber, textiles and apparel were $28.6 billion in 2015.
- Capital expenditures for textile and apparel production totaled $2.4 billion in 2016, the last year for which data is available.
Attachments:
http://www.globenewswire.com/NewsRoom/AttachmentNg/2f41dc3d-01ea-4915-93f2-f292047c8322
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c6f9abe1-79e4-4bab-a267-59da66cd395c
Lloyd Wood National Council of Textile Organizations 202-822-8028 [email protected]
