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Feltex Purchases its Foxton Manufacturing Site
14 July 2004
Feltex Purchases its Foxton Manufacturing Site
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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