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Glenaden-Amicus tie-up to swell

12
May '06
England's only surviving shirt maker has announced a major new venture in the North West. In the Waterside Glenaden Shirts is the only lasting shirt producer in the area and has jumped the trend of textile plant shutting down by adding its staff by 50 percent since change of management five years ago.

Amicus Capital Partners private equity group registered in Northern Ireland have now taken a noteworthy stake in the shirt company.

Andrew Lowden, Managing Director, Glenaden said, the accord is that Amicus Capital will work at the back of the existing management, developing the wisp of their business strategy.

Amicus Capital offers affluence of experience in fashion, textiles, and corporate finance, which they hope to attain.

Mr Lowden also conveyed the management's resolve to keep an industrialized base in Derry.

Gareth Scott of the TGWU said they hail investment, if it generates employment in Northern Ireland and will closely follow developments.


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