Industrial group moves into textiles - sportstextiles: Lea SportsTextiles

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Industrial group moves into textiles

07/10/2010
Alberta-based diversified industrial service company GRIT International has announced that it plans to move into textiles.

The company has focused on energy, mining and engineering, but has confirmed plans to buy a 75% stake in US textile manufacturer Obion Textiles, in line with the strategy to grow through acquisitions. The price of the deal was not disclosed.

Obion will be run by a still-to-be-created GRIT subsidiary. It currently produces textiles for the apparel market.


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