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