March 20 20
Workwear

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TMG PURCHASES GERMAN COMPANY ALONGSIDE CARRINGTON

MGC, a joint venture founded in June 2017 between Carrington Textiles, based in the UK, and TMG, one of Portugal’s biggest textile companies, has purchased the German group Melchior Textil GmbH, so far property of the HOS-Group. “A new and exciting stage of our development with which we shall strengthen even further our market position”, states Manuel Gonçalves (in the picture), MGC director and member of the executive board at TMG.

According to those involved, the acquisition benefits all parts: Melchior Textil will now part of a vertical structure, availing of a solid and sustainable production base; on the other hand, MGC guarantees the long-term production of its industrial units through the strategic integration of the acquired company.

MGC manufactures 18 million metres of fabric every year in Portugal, and adding Carrington’s productive capacity (32 million metres), the total reaches a stunning 50 million metres of fabric each year.

“Melchior was an obvious choice to us, given its reputation in the workwear market. We had been analyzing the possibility of consolidating our relationship with Melchior for a while now, and it will be strategically favourable for our future”, reveals John Vareldzis, director of MGC and CEO of Carrington.

Manuel Gonçalves said, in its turn, that “we are looking forward to the beginning of this new and exhilarating phase of our development, where we shall strengthen our position in the market even further. That will generate new investments as the partnership deepens”.

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