Feltex Purchases its Foxton Manufacturing Site

Wednesday, 14 July 2004, 2:47 pm
Press Release: Feltex

14 July 2004

Feltex Carpets Limited has today announced that it has purchased the Foxton property at which its New Zealand tufted carpet operations are based. Settlement of the purchase price will take place today. The purchase of the property provides the Company with the full control over one of its key manufacturing sites and the flexibility for future development and expansion on the site.

The company has leased the property since the 1980s. The purchase of the property will have a positive impact on earnings, as rental for the property will no longer be incurred.

ENDS

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