CRAIGAVON-based Ulster Carpets has acquired the operations of Griffith Textile Machines (GTM) in Sunderland in a cash-deal move which consolidates a long-standing relationship between the two companies.
Formerly known as Bonas Griffith, GTM is a leading innovator of technical textile machinery, and combining the skills of both firms is expected to lead to significant improvements in carpet weaving technology.
The acquisition begins the second phase of a £35 million regeneration of all woven manufacturing facilities at Ulster Carpets' Portadown site.
Phase one saw the recent completion of a £8m dye house and energy centre, increasing manufacturing efficiency as well as bringing a number of major environmental benefits - a project the company says safeguards manufacturing jobs in Portadown over the long term.
David Acheson, head of strategic operations at Ulster Carpets, said: “Our ethos and future plans very much revolve around quality, design excellence and technical innovation, and Griffith Textile Machines fits this perfectly. We are delighted to have secured this purchase and are excited about the future prospects as the two businesses combine their skills.”
Dave Watson, GTM’s managing director, added: “With our shared strategic objectives and being such a clear fit, joining the Ulster Group was an obvious next step for both parties.
"We are thrilled with the rare opportunity to focus on developing innovative solutions based on our joint peerless technology. Joining the Ulster Group is the culmination of a 25-year business relationship and will encourage GTM to achieve its maximum potential to the benefit the group."
The acquisition, completed for an undisclosed sum, is being funded from Ulster Carpets Group's own cash reserves.
