THE fibre and carpet yarn processing division of historic Kilbirnie company W & J Knox has been acquired by Italian company The Aquafil Group.

The new owners say the move will secure all jobs at the North Ayrshire manufacturing site and lead to new investment.

Under the agreement, Aquafil will acquire the business assets of the fibre division but W & J Knox will still own the land and buildings on the site with fibre and carpet yarn manufacturing continuing at Kilbirnie as before.

W & J Knox will retain its netting and marine support divisions as a standalone company, which is largely focused on servicing the fish farming sector.

All 71 jobs in the fibre division will be retained by Aquafil, who have indicated their intention to invest in their new Kilbirnie operation, which may lead to the creation of additional jobs.

According to Jim Traynor, managing director of W & J Knox, the acquisition is great news for the Kilbirnie manufacturing plant and its workers.

“This is a fantastic development as it enables a large international company with considerable resources to further develop and invest in fibre processing at Kilbirnie and exploit global markets to the benefit of all,” he said.

“It also means we can focus on our successful net manufacturing and marine services division and take this side of the business forward.” Established in 1778, W & J Knox is one of Scotland’s oldest manufacturing companies.

In more recent times netting has been manufactured for aquaculture, defence, sports and industrial applications, and fibre processing for the carpet yarn market.

Net manufacturing is complemented by Knox’s maintenance unit and a workboat support service for the aquaculture and other marine sectors.

Jim Traynor said: “This acquisition will ensure that this long and proud manufacturing tradition at Kilbirnie will continue for the foreseeable future, providing a real boost for the local economy.”