English Fine Cottons is investing £4.8m into a north-west based textiles company that plans to revive the cotton spinning industry.
The new venture will bring over 100 jobs, and regenerate a former Victorian cotton mill in Tameside.
The investment fund, Greater Manchester Combined Authority (GMCA), has given a further £1m through its N Brown RGF6 Textile Growth Programme (TGP). Additionally there is a £2m loan from the Greater Manchester Combined Authority investment fund.
General Manager of English Fine Cotton, Andy Ogden stated that the company was proud to have won the government grand.
“There is a strong demand across the world for luxury goods with the ‘Made in Britain’ stamp, and English Fine Cottons has the pedigree for the job”, Ogden said.
“Our roots are in technical textile manufacturing and we are in the perfect location – able to draw on a local workforce with the necessary skills and expertise”.