FELTEX AND Y. FALLS
Exchange Of Plants (N.Z. Press Assn;—Copyright). MELBOURNE, Sept. 30. Felt and Textiles of Australia, Ltd., will sell its worsted spinning, weaving, and cloth finishing division plant to Yarra Falls, Ltd., and buy in return that company’s topmaking and combing plant. Yarra Falls will pay £300,000 to Felt and Textiles on extended terms. In addition it will pay for the exchange of stocks associated with the plants. The deal will mean that Yarra Falls will stop making wooltops in Victoria and will specialise in the worsted and woolspinning fields. Spinning To Cease Felt and Textiles will cease spinning worsted yarn and weaving worsted cloth in Australia. It will concentrate on the further development of James, Seymour and Company in the field of wooltop manufacture for local and overseas markets. Directors of both companies expect that the degree of specialisation Will add to efficiency and eventually show substantial benefits in the profits of each company.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19641002.2.192.8
Bibliographic details
Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
Word Count
157FELTEX AND Y. FALLS Press, Volume CIII, Issue 30561, 2 October 1964, Page 17
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.