Tascot Templeton Carpets gets boost under TISS

30 Mar '09

2 min read

A loan of $1.5 million has been approved under the Tasmanian Industry Support Scheme to textile manufacturer Tascot Templeton Carpets at Devonport.

The Minister for Economic Development, Michael Aird said the loan is the first under the scheme's new, extended criteria.

He said changes to the TISS, announced last week, now offers the necessary support to businesses, such as Tascot, to maintain operations and employment through temporary downturns in business activity.

Mr Aird said it will assist the company with additional working capital to enable the ongoing manufacture and supply of high value woven carpets to Australian and international customers.

“Tascot is a long-established textile manufacturer that has been operating in Devonport since 1961 and has an international reputation,” Mr Aird said.

“Tascot employs 150 full-time equivalent staff in Devonport. A further 12 staff work in its sales and marketing office in Sydney and its product design and national marketing office in Melbourne.

“Tascot is a very big contributor to the North West economy with annual wages of $6 million spent in the local economy.

“As well, a further $2 million per annum is either spent or procured on goods and services in the greater Devonport area by Tascot.

Mr Aird said the TISS eligibility criteria had been widened to offer assistance to small, medium and large Tasmanian businesses.

“The extension not only supports investment projects and activities impacted by the current volatility in credit markets but also provides help to maintain operations and jobs through downturns.

“The scheme is aimed at helping Tasmanians businesses who are facing difficulties through no fault of their own because of the global credit crunch.

“It is about helping businesses to keep Tasmanians in jobs.”

Mr Aird said that historically Tascot has positioned itself in the club, pub and cinemas markets and became a market leader in these areas, particularly in Tasmania, South Australia, Western Australia and the Northern Territory.

“Tascot has now adopted a marketing strategy that is directed towards a broader range of customer industries.

“It now also focuses on hotel accommodation, Government commercial offices and the domestic residential market.

“Tascot has current contracts for refurbishment at Parliament House Canberra and the Darwin, Alice Springs and Hobart airports.

“The vast majority of Tascot's sales are to the Australian market with some sales are to New Zealand, Singapore, Hong Kong, Japan and Korea.”

Tascot Templeton Carpets

More Textiles News - Australia...