Ten Cate, the textile and synthetics group, said that it is to concentrate on growing its specialist textile business, Netherlands daily Het Financieele Dagblad reported.

Loek De Vries, chairman, said in an interview with the newspaper that streamlining the company's activities would free up funds for strategic expansion in the specialist textile sector.

The statement follows the October announcement that Ten Cate has called off a search for a strategic financial partner. The company had hired ABN Amro bank to find a partner.