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29/01/2002
Textile company expansion to create 190 jobs in north west
One hundred and ninety jobs are to be created in Londonderry following the expansion of a local textile company.
Glenaden Shirts is investing £2.4 million in its Trench Road site to help design and market its expansion into the menswear clothing sector.
The announcement follows the recent launch of its own-brand product '1' into the UK market, described by Glenaden Managing Director Andrew Lowden as "an essential part of our development".
Mr Lowden said: "This development will ensure competitiveness and long-term growth in an industry which continues to be pressured by low-cost business. We see this expansion as another stage in the successful repositioning of the company from a volume manufacturer to a producer of small volume shirts capable of rapid turnaround runs of higher work content and increased styling detail at consistent high quality."
The company have been offered £610,000 in aid from the IDB's Selective Financial Assistance fund. IDB acting deputy chief executive, Lawson McDonald, said: "The decision by Glenaden to carry forward its expertise in the manufacture of shirts for quality-conscious retailers into the design and marketing of its own branded range of niche market product is an extremely important initiative for this ambitious company."
SDLP MLA Annie Courtney welcomed the move as "great news for the people of Derry". However, she pledged to "press" the trade and investment minister to improve job creation prospects in the north west.
Glenaden Shirts currently employs 150 people at the Trench Road site.
(GMcG)
Glenaden Shirts is investing £2.4 million in its Trench Road site to help design and market its expansion into the menswear clothing sector.
The announcement follows the recent launch of its own-brand product '1' into the UK market, described by Glenaden Managing Director Andrew Lowden as "an essential part of our development".
Mr Lowden said: "This development will ensure competitiveness and long-term growth in an industry which continues to be pressured by low-cost business. We see this expansion as another stage in the successful repositioning of the company from a volume manufacturer to a producer of small volume shirts capable of rapid turnaround runs of higher work content and increased styling detail at consistent high quality."
The company have been offered £610,000 in aid from the IDB's Selective Financial Assistance fund. IDB acting deputy chief executive, Lawson McDonald, said: "The decision by Glenaden to carry forward its expertise in the manufacture of shirts for quality-conscious retailers into the design and marketing of its own branded range of niche market product is an extremely important initiative for this ambitious company."
SDLP MLA Annie Courtney welcomed the move as "great news for the people of Derry". However, she pledged to "press" the trade and investment minister to improve job creation prospects in the north west.
Glenaden Shirts currently employs 150 people at the Trench Road site.
(GMcG)
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NI shirt company to receive major investment
A private equity group in Northern Ireland have announced that it has taken a major stake in a Londonderry based shirt factory. Glenaden Shirts is the only remaining volume shirt manufacturer in the UK and the investment from Amicus Capital Partners, will enable the company expand business in North America and Eastern Asia.
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A private equity group in Northern Ireland have announced that it has taken a major stake in a Londonderry based shirt factory. Glenaden Shirts is the only remaining volume shirt manufacturer in the UK and the investment from Amicus Capital Partners, will enable the company expand business in North America and Eastern Asia.
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Northern Ireland WeatherToday:A showery start with outbreaks most frequent north of Lough Neagh and through the morning, before dwindling during the afternoon as the northwest breezes ease and brighter spells of weak sunshine prosper. Maximum temperature 8 °C.Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
