We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
BASF (BASFY) and Inditex Unveil Recycled Nylon Loopamid
Read MoreHide Full Article
BASF SE (BASFY - Free Report) and Inditex announced a significant breakthrough in advancing recyclability within the textile industry. The introduction of loopamid, a polyamide 6 (PA6 or nylon 6) entirely derived from textile waste, represents a groundbreaking circular solution for nylon apparel. Zara, under the Inditex umbrella, has already incorporated this material into a jacket, marking a global release. Embracing a ‘design for recycling’ approach, all components, from fabrics and buttons to filling and zippers, are crafted from loopamid.
Loopamid signifies a ground-breaking solution by BASF to enhance circularity in the fashion sector and recycle polyamide 6 textile waste. This cutting-edge technology facilitates textile-to-textile recycling of post-industrial and post-consumer textile waste, accommodating various fabric mixtures like PA6 and elastane. The innovation allows for multiple cycles of recycling, maintaining material characteristics identical to conventional virgin polyamide.
BASF emphasizes the milestone achieved, stating that loopamid has the potential to revolutionize the PA6 market. BASF is in the process of scaling up its technology for commercial quantities. The collaboration with Inditex integrates loopamid into various garment components, with partners such as ModaRe, RadiciGroup, YKK and Velcro playing crucial roles in incorporating loopamid into fabrics, zippers, buttons and fasteners, among others.
Inditex highlights the importance of driving innovation for a more responsible industry. The collaboration demonstrates how technology can transform textile waste into a valuable resource. However, Inditex also emphasizes the need for the industry to enhance collecting and recycling capacities to achieve a circular solution for post-consumer waste on a larger scale.
The collaboration aligns with the sustainability goals of both companies. By 2030, BASF aims to double sales generated from circular economy solutions to €17 billion (nearly $18.47 billion), focusing on circular feedstocks, new material cycles and new business models. Inditex aims to have 100% of its textile products made exclusively from materials with a smaller environmental footprint by 2030, incorporating next-generation materials, recycled materials and organic and regenerative fibers.
Polyamide 6, commonly known as nylon 6, is a synthetic polymer widely used for its mechanical properties. BASF, a leading manufacturer of polyamide 6, has production sites across Europe, Asia and North America.
In the past year, BASF’s shares have lost 18.3% compared with the industry’s 16.5% fall in the same period.
Cameco has a projected earnings growth rate of 188% for the current year. The Zacks Consensus Estimate for CCJ’s current-year earnings has been revised upward by 12.5% in the past 60 days. The stock is up around 75.5% in a year.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.97, indicating a year-over-year surge of 248.3%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 57% in the past year.
ANDE beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 32.8%. The company’s shares have increased 45.4% in the past year.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
BASF (BASFY) and Inditex Unveil Recycled Nylon Loopamid
BASF SE (BASFY - Free Report) and Inditex announced a significant breakthrough in advancing recyclability within the textile industry. The introduction of loopamid, a polyamide 6 (PA6 or nylon 6) entirely derived from textile waste, represents a groundbreaking circular solution for nylon apparel. Zara, under the Inditex umbrella, has already incorporated this material into a jacket, marking a global release. Embracing a ‘design for recycling’ approach, all components, from fabrics and buttons to filling and zippers, are crafted from loopamid.
Loopamid signifies a ground-breaking solution by BASF to enhance circularity in the fashion sector and recycle polyamide 6 textile waste. This cutting-edge technology facilitates textile-to-textile recycling of post-industrial and post-consumer textile waste, accommodating various fabric mixtures like PA6 and elastane. The innovation allows for multiple cycles of recycling, maintaining material characteristics identical to conventional virgin polyamide.
BASF emphasizes the milestone achieved, stating that loopamid has the potential to revolutionize the PA6 market. BASF is in the process of scaling up its technology for commercial quantities. The collaboration with Inditex integrates loopamid into various garment components, with partners such as ModaRe, RadiciGroup, YKK and Velcro playing crucial roles in incorporating loopamid into fabrics, zippers, buttons and fasteners, among others.
Inditex highlights the importance of driving innovation for a more responsible industry. The collaboration demonstrates how technology can transform textile waste into a valuable resource. However, Inditex also emphasizes the need for the industry to enhance collecting and recycling capacities to achieve a circular solution for post-consumer waste on a larger scale.
BASF SE Price and Consensus
BASF SE price-consensus-chart | BASF SE Quote
The collaboration aligns with the sustainability goals of both companies. By 2030, BASF aims to double sales generated from circular economy solutions to €17 billion (nearly $18.47 billion), focusing on circular feedstocks, new material cycles and new business models. Inditex aims to have 100% of its textile products made exclusively from materials with a smaller environmental footprint by 2030, incorporating next-generation materials, recycled materials and organic and regenerative fibers.
Polyamide 6, commonly known as nylon 6, is a synthetic polymer widely used for its mechanical properties. BASF, a leading manufacturer of polyamide 6, has production sites across Europe, Asia and North America.
In the past year, BASF’s shares have lost 18.3% compared with the industry’s 16.5% fall in the same period.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
BASF currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the Basic Materials space are Cameco Corporation (CCJ - Free Report) , Carpenter Technology Corporation (CRS - Free Report) and The Andersons (ANDE - Free Report) , each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cameco has a projected earnings growth rate of 188% for the current year. The Zacks Consensus Estimate for CCJ’s current-year earnings has been revised upward by 12.5% in the past 60 days. The stock is up around 75.5% in a year.
The consensus estimate for CRS’s current fiscal year earnings is pegged at $3.97, indicating a year-over-year surge of 248.3%. CRS beat the Zacks Consensus Estimate in all of the last four quarters, with the average earnings surprise being 14.3%. The company’s shares have rallied 57% in the past year.
ANDE beat the Zacks Consensus Estimate in three of the last four quarters and missed one, with the average earnings surprise being 32.8%. The company’s shares have increased 45.4% in the past year.