Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Feltex Carpet Merger

Feltex Carpets/Shaw Industries Australia move heralds new opportunities

Feltex Carpets today announced its intention to combine with Australian carpet manufacturer Shaw Industries Australia Pty Ltd, creating the biggest carpet manufacturer in Australasia.

Feltex Carpets Chief Executive Chris Davis said the move would strengthen the business positions of both organisations and create positive new opportunities for staff, customers and suppliers.

Combining the two businesses will make the group one of the world’s biggest wool carpet companies and will strengthen its position in synthetic carpets in Australasia. It will have nearly 1700 staff and a projected turnover in excess of NZ$400 million.

“The amalgamation will strengthen significantly the Feltex brand in Australia and boost Shaw’s presence in New Zealand, enabling the new combined business to perform strongly in increasingly competitive domestic and international markets. The two businesses have complementary product portfolios which will enable us to provide all customers with a wider product choice, better supply and greater flexibility,” Mr Davis said.

The Managing Director of Shaw Industries Australia, Sam Magill, said “this amalgamation represents a very exciting development for Shaw in Australia and opens the opportunity for us to enhance our already strong position in the Australian carpet market and benefit from Feltex’s expertise in the woollen carpet sector. In particular, we will benefit in the woven, aircraft and export market sectors. ”

Feltex manufactures and markets leading wool carpet brands including Feltex Classic, Kensington, Stevens Bremner and Heritage from its two carpet and four yarn sites throughout New Zealand. Feltex has more than 900 employees.

Shaw Industries Australia is the second largest carpet manufacturer in Australia with more than 800 staff and five manufacturing sites in Victoria. Shaw Industries Australia specialises in synthetic carpets and also has a strong wool market position. Its major brands include household names such as Invicta, Minster and Redbook.

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Dry: Beef + Lamb Launches Drought Resources

The resources include a fact sheet outlining strategies to manage and mitigate the effects of drought, coping with stress on the farm and advice on feed requirements and animal welfare during the dry period. More>>

ALSO:

InternetNZ: Net Neutrality Failure In US "Will Hurt All Users"

InternetNZ Chief Executive Jordan Carter has condemned the decision by the United States communications regulator to undo 2015 open Internet rules, warning that all Internet users will end up worse off as a result. More>>

ALSO:

Mycoplasma Bovis: More Properties Positive

One of the latest infected properties is in the Hastings district, the other three are within a farming enterprise in Winton. The suspect property is near Ashburton. More>>

ALSO:

Manawatū Gorge Alternative: More Work Needed To Choose Route

“We are currently working closely and in partnership with local councils and other stakeholders to make the right long-term decision. It’s vital we have strong support on the new route as it will represent a very significant long-term investment and it will need to serve the region and the country for decades to come.” More>>

ALSO:

ScoopPro: Helping PR Professionals Get More Out Of Scoop

Scoop.co.nz has been a fixture of New Zealand’s news and Public Relations infrastructure for over 18 years. However, without the financial assistance of those using Scoop in a professional context in key sectors such as Public Relations and media, Scoop will not be able to continue this service... More>>