McGuckian pads out his stakeholding at hi-tech makers of bombproof knickers
Published 11/12/2011 | 05:00
Irish Continental Group chairman John McGuckian has upped his stake in a company that makes bomb proof underpants for soldiers serving in Afghanistan.
McGuckian, an enormously wealthy Northern Irish industrialist, owns Cooneen Textiles. The company is involved in a joint venture with Watts & Stone to produce specialist clothing for armies and security services.
Last year, Cooneen Textiles increased its stake in Cooneen Watts & Stone from 50 per cent to 76 per cent.
The company has recently developed an armoured silk boxer short product that minimises the effect of bomb explosions on soldiers' groin regions. Cooneen won a $9m contract with the US marines to supply each soldier with four pairs of the ballistic boxers last April.
The British army already uses specialist underpants designed to protect privates' privates from improvised explosive devices in warzones. around the world. The textiles firm also supplies the Irish Army with clothing.
Sunday Indo Business