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Sateri

Summary

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Sateri is a business division of Royal Golden Eagle (RGE). It is a manufacturer of viscose rayon.[1]

Sateri
Company typeBusiness division (former public)
IndustryManufacturing
Predecessor
  • Sateri Holdings Limited
  • Bracell Limited
Founded2002
HeadquartersShanghai, China
Productsviscose yarns
OwnerRoyal Golden Eagle
ParentRoyal Golden Eagle
Websitewww.sateri.com

History edit

Sateri edit

Sateri is managed by Royal Golden Eagle and was founded by entrepreneur and philanthropist Sukanto Tanoto.[2][3]

Sateri started operating in 2002 when it began building a viscose staple fibre (VSF) mill near the city of Jiujiang in southeastern China. Sateri (Jiangxi) Chemical Fibre Co Ltd's plant went into commercial production in 2004.[4][non-primary source needed]

In 2010, Sukanto Tanoto established an intermediate holding company Sateri Holdings.[5][non-primary source needed] In the same year, Sateri Holdings became a listed company in the Hong Kong stock exchange.[6] The listed company owned the wood pulp and viscose staple fiber factories in Brazil and China respectively.[5][non-primary source needed]

Sateri's second[citation needed] plant – Sateri (Fujian) Fibre Co. Ltd in Putian – opened in 2013.[4][non-primary source needed]

In 2014, the listed company, Sateri Holdings, sold their Chinese factories to their controlling shareholder.[7] Those factories were under the Sateri business division.[4] Soon after, the listed company was renamed to Bracell Limited.[4] However, the listed company was also privatized in 2016.

In June 2015, Sateri launched its third[citation needed] mill in China – Sateri (Jiujiang) Fibre Co. Ltd. – by completing the acquisition of a plant from Jiangxi Longda.[4][non-primary source needed]

In May 2016, Sateri China Holdings bought a controlling stake in Linz (Nanjing) Viscose Yarn Co. Ltd.[8][9] The spinning mill, set up in 2007 by Austria's Linz Textil, makes high-quality viscose yarn products that are exported worldwide.[8]

In April 2019 Sateri acquired its fourth mill, the Jiangsu Xiangsheng Viscose Fiber company.[10]

Operations edit

According to the company, it does not use wood pulp from natural, ancient or endangered forests, forests of high conservation value or high carbon stock, or habitats of endangered species.[11] Sateri's Pulp Sourcing Policy[12] and Sustainability Policy[13] apply to all of its dissolving wood pulp suppliers.

The three plants in China have Chain of Custody certification from the Programme for the Endorsement of Forest Certification (PEFC) and are certified under ISO 9001 and ISO 14001.[citation needed] The company has stated that it has Swiss-based Oeko-Tex certification and describes its fiber products as "free from harmful substances" while "complies with European Union regulations."[14]

In the same year, Sateri, together with nine leading global viscose producers and two trade associations, founded the ‘Collaboration for Sustainable Development of Viscose’ (CV), an industry initiative to address sustainability challenges and drive market transformation.[15]

As part of the Royal Golden Eagle (RGE) group, Sateri plans to invest US$200 million over the next ten years into cellulosic textile fiber research and development. The investment revealed ahead of the Textile Exchange Sustainability Conference in Vancouver will support alternative cellulose or plant-based feedstock and closed-loop manufacturing solutions.[16]

Following the announcement, Sateri achieved a breakthrough in the commercial production of viscose using recycled textile waste in March 2020.[17] This is followed by the unveiling of Sateri’s Finex as its new product brand for recycled fiber. Finex, short for ‘Fibre Next,’ is an innovative next-generation cellulosic fiber-containing recycled content.[18]

In May 2020, Sateri began Lyocell production in Rizhao, Shandong, China.[19][20]

Ownership edit

Sateri's businesses were previously listed as "Sateri Holdings Limited" on the Hong Kong stock exchange from 2010[21] to 2016.[22] Sateri Holdings, as of 2010, was majority owned by Sukanto Tanoto and his family.[21]

In 2014 Sateri Holdings VSF businesses in China, were sold to Royal Golden Eagle, which was also controlled by the majority shareholder of the listed company, Sukanto Tanoto.[23][7][24][25] The listed company was renamed to "Bracell Limited" on 30 January 2015[26][non-primary source needed] and then also privatised by Royal Golden Eagle in October 2016.[22]

References edit

  1. ^ "Nordic pulp firms see future in turning birch trees into fashion". Reuters. 13 March 2016. Retrieved 17 July 2019.
  2. ^ Whitfield, Tony. "Sateri gains CDP merit". Ecotextile News. Retrieved 2020-09-11.
  3. ^ "Royal Golden Eagle to invest $200 million into cellulosic textile fiber research and development". www.lesprom.com. Retrieved 2020-09-11.
  4. ^ a b c d e "Milestones". Sateri. Archived from the original on 2017-02-17. Retrieved 2017-02-17.
  5. ^ a b "History and Reorganization" (PDF). Global Offering (Prospectus). Sateri Holdings. 26 November 2010. p. 80. Retrieved 17 July 2019.
  6. ^ "Vale and Sateri fail to excite on securities trading debut". South China Morning Post. Hong Kong. 9 December 2010. Retrieved 17 July 2019.
  7. ^ a b 賽得利擬向控股股東售中國黏膠短纖業務. "港股直擊" section. Finet (in Chinese (Hong Kong)). Hong Kong. 30 October 2014. Retrieved 10 May 2019.
  8. ^ a b "Sateri acquires controlling stake in viscose yarn producer Linz (Nanjing)" (Press release). Sateri. Archived from the original on 17 February 2017.
  9. ^ "BRIEF-Linz Textil Holding closes sale of Linz (Nanjing) Viscose Yarn". Reuters. 31 May 2016. Retrieved 10 May 2019.
  10. ^ "Sateri Acquires Viscose Mill in Jiangsu, China". PaperFirst. ENP Publishing. 7 May 2019. Retrieved 17 July 2019.
  11. ^ "Our Commitment". Sateri. Archived from the original on 2017-02-17. Retrieved 2017-02-17.
  12. ^ "Pulp Sourcing Policy". Sateri. Archived from the original on 2017-02-18. Retrieved 2017-02-17.
  13. ^ "Sustainability Policy". Sateri. Archived from the original on 2017-02-18. Retrieved 2017-02-17.
  14. ^ "Certifications". Sateri. Archived from the original on 2017-02-17. Retrieved 2017-02-17.
  15. ^ "China viscose sector sets sustainability roadmap". www.just-style.com. 2018-08-16. Retrieved 2020-09-11.
  16. ^ Glover, Simon. "RGE invests US$200m in textile fibre innovation". Ecotextile News. Retrieved 2020-09-11.
  17. ^ "Sateri Achieves Breakthrough in Commercial Production of Viscose Using Recycled Textile Waste - Bio-based News -". Bio-based News. 2020-03-24. Retrieved 2020-09-11.
  18. ^ "Sateri's new recycled fibre Finex now in stores". www.innovationintextiles.com. Retrieved 2020-09-11.
  19. ^ "Sateri begins lyocell fibre production in China". www.just-style.com. 2020-05-28. Retrieved 2020-12-22.
  20. ^ Friedman, Arthur (2020-06-08). "Sateri Enters China's Viscose Market With New Recycled Fiber". Sourcing Journal. Retrieved 2020-12-22.
  21. ^ a b "Billionaire-controlled Sateri shares flat on HK debut". Reuters. 8 December 2010. Retrieved 10 May 2019.
  22. ^ a b Bracell私有化完成 今退市. Ta Kung Pao (in Chinese (Hong Kong)). Hong Kong. 24 October 2016.
  23. ^ 賽得利獲控股股東洽購黏膠短纖業務. online "instant news". Hong Kong Economic Journal (in Chinese (Hong Kong)). 16 September 2014. Retrieved 10 May 2019.
  24. ^ 賽得利擬向控股股東售中國黏膠短纖業務. "港股直擊" section. Finet (in Chinese (Hong Kong)). Hong Kong.
  25. ^ "COMPLETION OF THE DISPOSAL OF THE VISCOSE STAPLE FIBER BUSINESS IN THE PRC" (PDF) (Press release). Hong Kong: Sateri Holdings. 17 December 2014. Retrieved 10 May 2019 – via Hong Kong Exchanges and Clearing Limited.
  26. ^ "CHANGE OF COMPANY NAME AND STOCK SHORT NAME AND AMENDMENT TO THE BYE-LAWS OF THE COMPANY" (PDF) (Press release). Hong Kong: Bracell. 26 February 2015. Retrieved 10 May 2019 – via Hong Kong Exchanges and Clearing Limited.

External links edit

  • Official website of Sateri (in English and Chinese)
  • Official website of Bracell (in English and Portuguese)