Business news

Beti developing innovative eco-friendly yarn

Metlika, 26 July (STA) - Beti, a leading European manufacturer of dyed polyamide yarns, is developing an innovative eco dye yarn made of waste plastic bottles in what it hopes will be a major development breakthrough.

Maja Čibej, the CEO of the Metlika-based company, says the EUR 10,000 project involves optimised dye process that will reduce consumption of water by almost a third, cut CO2 emissions and save energy.

The input material for the yarn will be fully recycled polyester made from waste plastic bottles, Čibej told the STA, adding that development of further similar products was also planned.

The company has applied the project to a call for sustainable business transformation by the SPIRIT investment and entrepreneurship promotion agency.

It will be part of a strategy of the company's sustainable development until 2025, a document that is to be completed by August. The eco-friendly yarn is to be launched onto the market next year.

Beti generates more than 90% of its sales abroad, mainly in the US, EU, Russia, Belarus and Israel. It has also been boosting its sales in Germany.

The company has sold its underwear, nightwear and bathing costumes brand to the Metlika family business Konfekcija Julija.

It has recently installed its first two robotised machines. It plans EUR 200,000 in capital expenditure this year.

The company has been impacted by the coronavirus pandemic, seeing what Čibej described as a "dramatic slump" in the second quarter as sales fell almost 40% year-on-year to EUR 1.7 million.

This was as orders were down in particular from the US and Russia, while they have since started to recover in Europe.

The company posted a loss for the first half of the year. Considering the current state of the order book, sales this year will be down by at least a fifth, the CEO estimates.

The headcount was reduced by about 20% from 165 at the start of the year, most of which was through attrition. Further redundancies are not planned for now. Staff have also been put on reduced hours.