Northern Ireland's leading textile company, Adria Ltd, has announced details of a new yarn covering process, invented at its Research and Development Centre in the North West, which will be taken to the market in 2004. According to Carl Francis, CEO of Adria, the new yarn, to be brandedaril *, represents the biggest innovation in yarn in recent years.
The new process, which has been developed using the latest
technology, has unique features that permit the production of high quality and durable yarn products at a globally competitive cost. A new NI based joint venture company, to be called APW Yarn Technologies Ltd has been established to exploit the new yarn worldwide.
According to Carl Francis, Adria Chief Executive, this development represents an exciting time for Adria in the international yarn and fibres market. "Together with our joint venture partners, we believe this represents the biggest breakthrough in yarn development in recent years.
This has huge potential globally, both inside and outside the textile
The shareholders of the joint venture are Adria and CMT Plc, an international technologies company with operations in Australia, Europe and the USA. Possible locations for future investment will now be considered as the project is commercialised.
Dr Andrew Ives, Chairman of CMT Plc said, "We are very excited by our new partnership with Adria and we believe our combined expertise can commercialise this business opportunity internationally with great success.
We believe this will have a major impact beyond the textile sector."
Terry McCartney, Chairman of Adria, acknowledged the support of IRTU in the provision of R&D grants in the past. "This latest innovation comes after years of hard work and investment. It is a wonderful tribute to the
talent, creativity, and competitive spirit of the many people who make up Adria.
Graham McDowell of Invest NI said, "This is a particularly significant project not only for Adria but for the Northern Ireland Textiles and Apparel Industry, and demonstrates how
local companies, with help from Invest NI, can, through participation in our Compete programme, accelerate their entry to new global markets. I and my colleagues in the technical development unit, who worked closely with Adria
on this important project, congratulate the company and wish it every success with the future commercialisation of this process."