FELTEX SELLS “DON”
(NS. Preet Association) AUCKLAND, June 12. Feltex New Zealand Ltd, is negotiating the sale of its furniture factory at Penrose to Airest Industries Ltd, the Auckland-based public furniture company. A statement by Feltex said it believed amalgamation and larger production units were desirable but that the
company preferred to maintain carpets as its major investment
Under the terms of the sale Feltex would accept a 25 per cent shareholding in Airest Industries. The statement expressed great confidence in the future of Airest under its managing director (Mr C. Renwick).
The “Don” furniture brand, previously marketed by Feltex, will be maintained by Airest. Feltex retains its steel furniture factory at Levin, as an adjunct to its contract carpet sales. The terms of the sale will be presented to the. forthcoming annual general meeting of Airest Industries for ratification.
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Bibliographic details
Press, Volume CXII, Issue 32941, 13 June 1972, Page 25
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140FELTEX SELLS “DON” Press, Volume CXII, Issue 32941, 13 June 1972, Page 25
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