Jobs secure after buyout

WORKERS at a Hallam carpet manufacturer have been assured their jobs are safe after their company was bought out.
The future of New Zealand based company Feltex had up until recently looked uncertain with the carpet manufacturer owing about $120 million to the ANZ bank.
The Hallam South Road company was placed in receivership on 21 September.
However, last Tuesday, 3 October, Australian carpet maker Godfrey Hirst announced that it had purchased the company.
Godfrey Hirst finance director Jim Walsh said they were pleased that the process had reached a successful conclusion.
“The outcome will ensure that in the immediate future certainty is returned to all employees, customers and suppliers in Australia.”
“Our overarching strategy is to build on the good brands of Feltex, invest in its future and provide the best management practices and skills to help grow the Feltex business,” Mr Walsh said.
Feltex has about 500 employees at its carpet making plants in Victoria.