Cashmere business sold to Chinese firm
17/06/2009
Scottish textile firm Dawson International is selling off its cashmere division, Todd & Duncan, to a Chinese company.
Todd & Duncan is 140 years old and employs 200 workers at its base in Kinross in central Scotland, where it spins cashmere yarn for top fashion houses.
The BBC has reported that it is being sold to the Ningxia Zhongyin Cashmere Company for £6.5m.
Dawson said the Chinese company would keep the Todd & Duncan name and would take on the existing workforce.
The company's chief executive, Andy Bartness, said: "Zhongyin are committed to manufacturing cashmere yarn from a Scottish base and maintaining a Scottish workforce."
Mr Bartness will act as a part-time consultant for the new company for a period of 18 months.
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