Toray Textiles Europe Ltd (TTEL) UK based manufacturer of woven polyester, nylon and high performance synthetic fabrics has been also developing more specialist markets for its fabrics such as medical, industrial and automotive. The D2N2 Local Enterprise Partnership has offered a Â£123,000 grant to TTEL for its new technical textile business which required investing in new looms and ancillary equipment - creating eight new jobs.
TTEL directors approached the D2N2 Local Enterprise Partnership (LEP) for support at the time a new state-of-the-art loom was launched in Japan and TTELâ€™s Japanese parent company needed a pilot site to test it.
Richard Stephens, Managing Director of TTEL, said that as the European arm of a global Japanese textiles company they have to compete for investment with Torayâ€™s other sites around the world and historically, with the UK textile market shrinking, thatâ€™s not been easy. When Toray needed a pilot site to test a new loom, the timing couldnâ€™t have been better.
D2N2â€™s grant made all the difference in helping them secure the pilot with Toray which then enabled them to secure employment here in Mansfield, increase both their 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 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.
D2N2â€™s Â£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, added that they 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 now fully committed and no longer accepting applications.
Grants already approved will create over 400 new jobs and safeguard a further 350. The programme has inspired business owners in the D2N2 LEPâ€™s area to invest over Â£20million, alongside the grant support, to grow their businesses.
TTEL are a wholly owned subsidiary of Toray Industries Inc, the world leader in synthetic fibres and textile manufacture. Their aim is to fulfill their client's requirements through the innovation of their textile design, the quality of their textile production and the excellence of their customer service, so whatever textile requirements are there TTEL can be confident deliver the solution.
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