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ACQUISITION OF IQ TEXTILES
Allied Textiles is delighted to announce that they have today completed the acquisition of the principal trading assets of IQ Textiles Limited (in administration).
IQ Textiles is a long established direct coating operation with extensive production facilities in Prestonpans, East Lothian, Scotland. Tough trading led to the appointment of administrators in mid September.
Allied will continue production at the Prestonpans site, with the IQ employees transferring with the acquisition.
Production will continue as normal, with the aim of continuing to provide a high level of service to the IQ customer base.
Mark Haigh, General Manager of JB Broadley will be working closely with the current management team on the day to day running of the business with immediate effect.
Coating Applications Group, a division of Allied, produces direct coated fabrics for a range of markets. The acquisition of IQ extends the technical and production capability available to the group, providing access to a broader range of products and markets.
Allied Tetxiles Group, is a broad grouping of predominantly UK based textile businesses. More information is available on the group at www.allied-textiles.com.
For further information, contact
Stewart McGuffie
Chief Executive
Tel: 01924 443366
E: smcguffie@allied-textiles.com
Date: 13-10-2009
JB BROADLEY
Arrangements were concluded earlier today for Allied Textiles to sell the Transfer Coated division of JB Broadley to Dartex Coatings Ltd.
The production of direct coated products, for both air bags and other markets are unaffected and will continue to be supplied by JB Broadley under the management of Mark Haigh.
As part of these arrangements, Dartex will take control of the transfer coating capabilities on the JB Broadley site and will have access to all the skills and experiences of the existing business and staff. This will ensure that customer requirements continue to be met in full.
Dartex are a privately held company with its headquarters in Long Eaton, Nottingham. They are specialists in transfer coated products and lamination. They have similar operations in the USA centred in Rhode Island.
Commenting on the transaction, Shaun Ambrose-Jones, Chief Executive of Dartex Coatings, said “We are delighted to have reached agreement with Allied in this transaction, It gives us access to a broader range of products, capabilities and customers, and will allow us to build on our established reputation for customer service and innovation.”
Stewart McGuffie, Chief Executive of Allied said “We concluded some months ago that consolidation in the market for transfer coated products was inevitable, and were keen to find a quality partner who were able to support our existing customer base. We have established a good rapport with the team at Dartex, and are confident that they are the right owner to move this part of the business forward. It also allows us to strengthen the focus on our other business areas of yarn preparation, direct coating, dyeing, finishing and weaving.”
Any queries should be addressed to:
Shaun Ambrose-Jones, Chief Executive – Dartex Coatings Ltd - (0115) 983 7676
Mark Haigh, General Manager – JB Broadley – (01706) 603 661
Stewart McGuffie, Chief Executive – Allied Textiles Ltd – (01924) 443 366
Date: 04-08-2009
MAYFIELD YARNS
A fire last night broke out at the Mayfield Yarns factory in Derbyshire.
Local fire fighters were called to the scene and were successful in quickly bringing the blaze under control.
As a result, production started as normal this morning and customer deliveries are unaffected.
The damage was contained to a limited area of the factory which is used to store raw materials. No personal injuries were sustained.
Police are now investigating the cause of the blaze.
The effective operation of safety systems, rapid response of the local fire service and a quick response from local management limited the impact of the blaze.
Any queries related to the blaze should be directed in the first instance to:
Stewart McGuffie
Chief Executive
Allied Textiles Ltd
Tel: 01924 443366
E: smcguffie@allied-textiles.com