Tandus To Sell UK Manufacturing Operations
The purchaser, Interior Projects Solutions Limited, will continue to manufacture carpet products for distribution throughout Europe. Under a separate agreement the purchaser will be the exclusive distributor of the company's products, under the Monterey, C&A and Crossley brand names, in several European countries. Additionally, certain products manufactured in the Wales facility will continue to bear the C&A brand.
"After careful consideration it was determined that the sale of Tandus Europe Ltd. was in the best interest of both the Company and its former Wales based employees," said Leonard F. Ferro, chief financial officer, Tandus. "The distribution agreement allows the company to reach significantly more of the European market then was possible with its internal sales force. We are pleased to be able to partner with Interior Projects Solutions to effect the sale and the ongoing distribution arrangement."