Redundancies With the closure of the Braybrook yarn plant, the Company is proceeding with the consultation process which will result in redundancies of approximately 185 employees. At its New Zealand woven carpet operation in Christchurch, the reduction in operating capacity will result in about 30 redundancies.
In Melbourne, as a result of a further evaluation of the overhead structure of the business, an additional 20 positions are likely to be made redundant. These redundancies are in addition to the previously announced 46 management redundancies.
The plant rationalisation will lead to Feltex having surplus real estate in Melbourne which will be sold as soon as possible. The value of this disposal has not yet been assessed.
All the rationalisations announced today are Feltex initiatives. The Board reiterates its commitment to ensuring that all necessary decisions will be made to ensure the Company's future performance is maximised for Feltex shareholders.
The Feltex operation includes wool scouring plant, six spinning mills, three tufted carpet mills, a woven carpet mill and offices in New Zealand, Australia and the United States. Feltex sells woollen carpets primarily in New Zealand and Australia. It also exports carpet to the US, Europe and Asia and woollen yarn to the US.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
