Fibremakers closes yarn factory

Press, 28 April 1980, Page 20

Fibremakers closes yarn factory

PA .Wellington Fibremarkers - New' Zealand. Ltd, will close the yarn processing factory -in Wellington which it has been operating under a two-year-lease. The company’s general manager (Mr R. S. Maclean) said in a press statement that the closure had been made inevitable by the Government’s removal of import controls and tariffs. The tim-j ing of the closure has been determined by - a decline in' the level of current and forward orders. “In accordance with the; original recommendations ofi the Industries' Development)

i Commission, Fibremakers had entered into manage- • ment of the Wellington faci tory with the intention of • spreading, over two years, a J programme of restructuring •land integration with the (company's fibres operations. 11 “The Government action iin removing both import controls and tariffs has frustrated -this intention and (hastened an urgent review jof the action needed to pro-i tect the viable segments of' Jthe business,” he said. J “The inevitable result' is; redundancies and we are inow negotiating a redun-i ■jdancy package for abouF forty-five employees,” Mrj iMaclean said/ ■ *■ |