INDEPENDENT NEWS

Feltex Carpet Merger

Published: Tue 28 Mar 2000 03:00 PM
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

Next in Business, Science, and Tech

Media reports regarding possible transaction to acquire Stuff
By: NZME
Plan of action to protect seabirds
By: New Zealand Government
Fairer rules for tenants and landlords
By: New Zealand Government
Official Cash Rate unchanged at 1 percent
By: Reserve Bank
Avocados at lowest price in almost three years
By: Statistics New Zealand
Endangered seabirds need strong fishing rules
By: Forest And Bird
Call for zero bycatch, 2016 a bad year for seabirds
By: Forest and Bird
REINZ welcomes banning of rental bidding with RTA proposals
By: REINZ
Landlords will not be able to protect neighbours
By: NZ Property Investors Federation
Proposed changes to tenancy rights are trickle down
By: Manawatu Tenants' Union
Reserve Bank predicts further economic slowdown
By: New Zealand National Party
Reserve Bank gets it right by keeping OCR steady
By: ACT New Zealand
XE Data Update - RBNZ Official Cash Rate decision
By: XE Money Transfer
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media