The Ministry of Commerce announced that negotiations were taking place for a 40,000 sq/ft extension to the Jeremiah Ambler Ltd factory at Hillhead Road.
The Larne Times reported that the factory, which was to spin synthetic and natural fibres, was expected to provide employment for 280 people.
Jeremiah Ambler had been manufacturing in Northern Ireland since 1947 when the yarn producing company became established in Carrickfergus.
The Carrick plant employed 400 workers.
Jeremiah Ambler (Ulster) Ltd, spinners and weavers was founded on August 8, 1946 and had its registered office in Belfast.