Carrington has taken the step to expand its European production capacity as part of a wider investment strategy. The JV will expand Carrington's current production capacity in Europe to more than 50 million metres. This will also see £10m spent on a new research and development laboratory, machinery and infrastructure, at its Pincroft production facility in Lancashire, UK, over the next two years.
The partnership will benefit from Carrington's management and technical expertise and TMG's local infrastructure and support network.
"TMG is an obvious choice of partner for us given its long textile tradition, our excellent relationship and history of working together. Although we had been evaluating the possibility of cementing our relationship with TMG for some time, the UK's decision to leave the EU has now made this move strategically advantageous for the future," said John Vareldzis, managing director at Carrington. "We look forward to the commencement of the new venture, where we will be able to enhance the current production capacity and technical capabilities. This new investment will perfectly complement further enhancements to our existing manufacturing capabilities at Pincroft, which will continue to be our main production site," he added.
"This partnership is the culmination of more than 15 years of working closely with Carrington. This is fantastic news for our customers as it will greatly improve our manufacturing competitiveness. The input from Carrington, their expertise and experience, will also provide a major boost in the development and production of future products. It is a decision that will benefit everybody concerned," said Manuel Gonçalves, executive board director at TMG. (RR)
Fibre2Fashion News Desk – India
| On 21st May 2022
China-South Korea bilateral trade has exceeded $360 billion,...
| On 21st May 2022
India's readymade garment (RMG) exports have registered a growth of...
| On 20th May 2022
After US treasury secretary Janet Yellen called for tariffs cuts on...
Biggest learning was adaptability
Hopeful that issue will be resolved by first half of 2022
Uniform designing is a numbers game
Nextil Group is one of the world’s largest knitted and elastic fashion...
Juan Pares Boj
Textil Santanderina is a cutting-edge textile company located in...
<span style="font-size: 12px;">Blue Bite was created to deliver the best...
Dr. Sean Blamires
Evolution and Ecology Research Centre
Using spider silk for clothing may not seem to be an attractive...
German company Dilo Group is one of the leading equipment suppliers of...
Wearable Technology Lab, University of Minnesota
A new study led by researchers at the University of Minnesota's Design of...
Label - Bite Studios
BITE Studios is a Sweden-based luxury womenswear label with a mission to...
Label Anju Modi
Filmfare Award winner for best costume designer,<b> Anju Modi </b>is...
Label - Avalone
<div>Tokyo-based fashion brand Avalone, founded by Susumu Miura in 2013...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.