January 25 2015 Latest news:
Tuesday, January 21, 2014
Norfolk-based KL Technologies (KLT) has acquired an historic German textile business with a turnover of €20m (£16.5m). Bamberger Kaliko, founded in 1863, employs 118 staff at its textile finishing plant at Bamberg, just north of Nuremberg in Germany. Mark Littlewood, chief executive of KLT, said the acquisition would strengthen the King’s Lynn firm’s position in the textile market. The company already owns PIL Membranes and Barnsley-based Nanoflam.
“Kaliko is a perfect fit with our existing textile businesses, which are already significant suppliers into the industry,” said Mr Littlewood.
“We’re excited about this further expansion of our textiles business and look forward to working closely with the team in Bamberg to grow the business.”
Aviva will embark on a cost-cutting drive leading to 1,500 job losses if its £5.6bn takeover of Friends Life wins the backing of shareholders.