Tuesday, 29 May 2012

SIL Holdings - Press release

1st May 2012

W.T.Johnson have agreed to sell their shares in world renowned worsted fabric manufacturers John Foster and Charles Clayton to their Bradford based partner in the businesses SIL Holdings Limited (SIL).

W.T.Johnson and SIL Holdings Limited came together to rescue John Foster and Charles Clayton from administration. Through this collaboration the businesses have been rebuilt and now stand on a firm financial footing with revitalised collections selling globally and exhibiting at Premier Vision Paris.

SIL Holdings Limited own anther specialist fabric manufacturer, William Halstead Limited, and the three companies will be consolidated and operate from Stanley Mills in Bradford.

Mr Andrew Seal Managing Director of SIL Holdings Limited commenting on the merger said “I would like to thank W.T.Johnson for their participation, assistance and support over the last three years. W.T.Johnson will continue to dye and finish for the group.”

Mr Paul Johnson Managing Director of W.T.Johnson said “We have achieved our original aim which was to save these UK manufacturing businesses. We believe that this has not only been in our interest but also in the interest of the textile infrastructure in Yorkshire. As a result we are now happy to sell to SIL Holdings Limited who have the necessary manufacturing experience and resources to build on this new start. W.T.Johnson now prefer to concentrate their efforts on the continuing development of their core business of commission dyeing and finishing.

No comments:

Post a Comment