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| NILIT Announces Strategic Expansions, Including a Joint Venture with Shenma in ChinaMIGDAL HAEMEK, Israel, Apr. 17 /BusinessWire/ -- 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.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. View source version on businesswire.com: https://www.businesswire.com/news/home/20240417236937/en/
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