Belmont Silks, the Silsden-based weaver of fabrics for tie manufacturers, has taken delivery of a new high-performance loom as part of its long term investment plan.

At a time when the textile and clothing industry generally has been suffering from an over-strong pound, Belmont is seeking to strengthen its position as a leading player by re-equipping with machinery that will allow it to respond more flexibly to the needs of UK and overseas customers.

Managing director Howard Rayner says: "We need the latest in computer controlled technology to maintain the strong position we have built up in what is a very specialist market.

"Last year we re-structured and brought in Yorkshire Fund Managers as our financial backers. The first fruits of the relationship can be seen in the looms now installed."

Belmont Silks is a long-established name in the textile industry, occupying a site which has been a home for Jacquard weaving for more than a century. Over the years the company has been through a number of changes in ownership, finally gaining its independence in a management buy-out in 1990.

The company's management team, led by Howard Rayner, has built up sales through the 1990s. With the looms now installed, and more to come next year, there is considerable scope for expansion.

Nigel Barraclough of York-shire Fund Managers helped to put together the financial package which is underwriting the growth of Belmont Silks. He says: "The company has an experienced management team, and in a niche market is very close to its customers. We were delighted to have the opportunity of backing Howard Rayner and his team."

Yorkshire Fund Managers has provided equity finance through the Midland Enter-prise Fund for Yorkshire and Humberside, and Barclays Bank has provided mortgage and overdraft facilities.

Converted for the new archive on 30 June 2000. Some images and formatting may have been lost in the conversion.