Textile Bonding Closes Doors
October 3, 2024
Textile Bonding
AUCKLAND, NZ — David Neville Stampa, Director, has closed Textile Bonding Co. Ltd. in Auckland, NZ and will sell off its equipment.
For at least 45 years, Textile Bonding was a factor in the blackout market and sold its products worldwide, especially to hospitality specialists in the USA as well as to other wholesalers in Australia and New Zealand.
Over time, China, India and Vietnam became tough competition for Textile Bonding due to their much lower cost structure and Stampa decided to quit the business.
“Textile Bonding was regarded as an important resource by many, and it will be difficult to replace it as a blackout source,” an industry veteran told F&FI.
“The big picture in my opinion is how western democracies view/support exporting manufacturers when compared to their Asian competitors,” Stampa says. “Differing public policies relating to energy, compliance, employee benefits, subsidies, financial and tax support go some way to explaining why there’s little manufacturing left in the Western world.”
“Five years on from Jacinda Ardern cancelling gas and oil exploration, we have a massive shortage and doubling of costs while Asian producers apparently benefit from cheap Russian oil and gas,” Stampa explains. (Ardern was the 40th Prime Minister of New Zealand).
“Also of significance is the decreased demand from the EU and residual effects of covid policies worldwide dampening demand at a time when there is an inherent reluctance to investment in inventory.”
For at least 45 years, Textile Bonding was a factor in the blackout market and sold its products worldwide, especially to hospitality specialists in the USA as well as to other wholesalers in Australia and New Zealand.
Over time, China, India and Vietnam became tough competition for Textile Bonding due to their much lower cost structure and Stampa decided to quit the business.
“Textile Bonding was regarded as an important resource by many, and it will be difficult to replace it as a blackout source,” an industry veteran told F&FI.
“The big picture in my opinion is how western democracies view/support exporting manufacturers when compared to their Asian competitors,” Stampa says. “Differing public policies relating to energy, compliance, employee benefits, subsidies, financial and tax support go some way to explaining why there’s little manufacturing left in the Western world.”
“Five years on from Jacinda Ardern cancelling gas and oil exploration, we have a massive shortage and doubling of costs while Asian producers apparently benefit from cheap Russian oil and gas,” Stampa explains. (Ardern was the 40th Prime Minister of New Zealand).
“Also of significance is the decreased demand from the EU and residual effects of covid policies worldwide dampening demand at a time when there is an inherent reluctance to investment in inventory.”