Home / Knowledge / News / Textiles / D2N2 grant boosts Britain's Toray Textiles
D2N2 grant boosts Britain's Toray Textiles
26
Dec '15
A £123,000 grant from the D2N2 Local Enterprise Partnership for Derby, Derbyshire, Nottingham and Nottinghamshire in England, has enabled Mansfield-based textiles manufacturer Toray Textiles Europe to invest in new looms and ancillary equipment and create eight new jobs, British business websites have reported.

Toray Textiles Europe has been developing specialist markets, such as medical, industrial and automotive, for its fabrics.

When a further growth opportunity was identified, but one that would require new machinery to fulfil, directors approached the D2N2 Local Enterprise Partnership (LEP) for support. At the same time a new loom was launched in Japan and the firm's Japanese parent needed a pilot site to test it.

Richard Stephens, Managing Director of Toray Textiles Europe, said: “As the European arm of a global Japanese textiles company we have to compete for investment with Toray's other sites around the world and historically, with the UK textile market shrinking, that's not been easy. When Toray needed a pilot site to test a new loom, the timing couldn't have been better.

“D2N2's grant made all the difference in helping us secure the pilot with Toray which then enabled us to secure employment here in Mansfield, increase both our capability and capacity and produce new width fabrics to service customer demand.”

Since the installation of the eight new looms and new ancillary equipment the firm has been at full capacity and has employed eight new people in technical and production jobs. The project has been so successful that five more looms have been ordered to meet demand.

D2N2's £123,000 funding came from its Unlocking Investment for Growth (UI4G) programme. UI4G has been supported by the Regional Growth Fund and the European Regional Development Fund. UI4G grant awards are given by the D2N2 Local Enterprise Partnership Investment Panel, chaired by Board member Peter Gadsby. The aim of the fund is to create long term sustainable jobs.

David Ralph, Chief Executive of the D2N2 Local Enterprise Partnership, said: “We are pleased to have helped to create new jobs in a traditional sector which has faced difficulties but, more importantly, this investment has gone a long way towards safeguarding the current workforce and avoiding any negative impact on the local economy.”

UI4G is no longer accepting applications, but grants already approved will create over 400 new jobs and safeguard a further 350. The programme has inspired business owners in the D2N2 LEP's area to invest over £20million, alongside the grant support, to grow their businesses. (SH)

Fibre2Fashion News Desk – India

Must ReadView All

Textiles | On 29th Apr 2017

Textile sector may have uniform GST rate: Irani

The textile sector could have a uniform Goods and Services Tax (GST)...

Textiles | On 29th Apr 2017

EU rules needed to curb textile worker exploitation: MEPs

European Union (EU) rules are needed to oblige textile and clothing...

Apparel/Garments | On 29th Apr 2017

US retail operating growth to be 1.5-2.5% in 2017: Moody's

The forecast for operating income growth in the US over the next 12...

Interviews View All

Sonia Agarwal
Whitenife

‘The terms eco-friendly and organic are common but everyone perceives them ...

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Neel Sawhney
One Friday

‘The share of kidswear segment in the online sector is still small in...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X