Cygnet Texkimp provides specialist knowledge and bespoke machinery for the global technical fibre and fabric, after receiving one third of funding for the scheme from the Textiles Growth Programme has decided to make investment of £1 million to expand its machinery and materials research centre.
The Textiles Growth Programme forms part of the Regional Growth Fund (RGF) and is a dedicated grant growth programme designed to drive investment in Britain’s textile supply chain, with a focus on the North of England.
It will use the cash to develop six new pieces of technology for the technical fibre market, including two advanced testing lines and a ground-breaking multi-axis filament-winding and linear fibre-placement machine.
The company’s plans include doubling the size of its research centre by creating a purpose-built clean room where customers can run full-scale, secure product trials. This major investment in R&D gives them and their customers the tools to be first to market with the best new technologies and is expected to have a significant impact on the future performance and direction of global technical fibre industries, said Luke Vardy, technical director of Cygnet Texkimp.
Their approach will be to partner with their customers in the technical fibre manufacturing market to develop a series of new and novel technologies that offer more capability than ever before.
The investment will also create nine new jobs over the next two years as the Cheshire based engineering company increases capacity across its R&D, mechanical and electrical design and software engineering functions.
Bren Hutchinson, Cygnet’s Group Finance Director said that the funding from the Textiles Growth Programme has helped them to accelerate their investment in areas where they expect to see most growth in the coming decades, therefore enabling them to grow sales and jobs for Cygnet Texkimp and for their supply chain in the UK sooner than planned.
According to figures supplied by the Textiles Growth Programme, the global market for technical textiles was worth £88 billion (USD 134 billion) in 2012 and is expected to grow to £105 billion (USD 160.38 billion) by 2018.
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