Moves to Australia
Further moves in the Australian market are indicated by the managing director of Feltex New Zealand, Ltd. Mr H. M. Titter. In the annual report, released after the announcement on Thursday of the joint venture with Pacific Carpets International Proprietary, Ltd, he said that all operating companies have invested people and money in establishing a stronger
business base across the Tasman. “These moves, regardless of the outcome of discussions for closer economic relations. were essential if the company is to continue to grow in its chosen fields of operation," Mr Titter adds. He said it is recognised that Feltex must become an Australasian company to maintain a satisfactory growth rate.
"This will be the dominant theme of the next 12 months
— to expand geographically rather than to diversify into hew spheres of operation." The joint-venture companies Hallmark Industries and Anzwood Holdings, manufacturers of non-woven products and veneer and panel products, have been the first ventures into manufacturing in Australia. “They will certainly not be the last."
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Press, 11 October 1982, Page 28
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169Moves to Australia Press, 11 October 1982, Page 28
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