The blue chip firm of Ulster Carpets is planning to make a major investment in a new purpose-built plant, it was disclosed today.

The textile company has plans to relocate from its existing premises at Garvaghy Road in Portadown to a 20-acre green field site on the outskirts of the town.

But so far the company, which employs just over 700 people, has not identified a firm date for work to start.

A spokesman for the firm confirmed that the move was proposed “in the long term, depending on the economic situation and technological developments”.

He added: “We purchased the site some years ago with a view to moving some time in the future.

“It’s a case of waiting until the time and the marketing conditions are right. The long-term aim is for a purpose-built factory at Carn Industrial Estate, about two miles from our current premises.

“We have an outline plan for such a factory and the details have still not been added. It is on the long finger and we will continue to invest in our Garvaghy Road premises, in new technology and in expansion.”

He added that a purpose-built factory would have the advantages of technological developments and environmental concerns like renewable energy.

“We are a Portadown-owned company with the concerns of the town and its people at heart,” he said.

“Ulster Carpets started in the town in 1938 and our main ethos is to react and adapt to the market.

“We are confident in the future and plan to stay and develop in Portadown, despite the stiff, worldwide competition.”

Meanwhile, Ulster Carpets has become the first company in Northern Ireland and the first textile company in the UK to achieve the Carbon Trust standard.

Working with the Carbon Trust since 2001 to reduce emissions, the company has now reduced its carbon footprint by 44%.

At its peak in 2002, Ulster Carpets employed more than 1,500 people at its Portadown plant.