Ethan Allen Buys Honduras Plant

October 26, 2011  by in UnCategorized   

By Home Furnishings Business in Case Goods on October 27, 2011

Ethan Allen (NYSE: ETH) has acquired a former case goods furniture plant in Honduras.

The 164,000-square-foot facility is situated on 18 acres with access to essential raw materials, major highways, a modern seaport and state-of-the-art communications networks.

"We are pleased that during the last three years we have repositioned many elements of our vertically integrated enterprise," said Chairman and CEO Farooq Kathwari in an announcement of the deal. "Over the next 12 months we expect this facility to enable us to manage further growth through its support of our existing North American manufacturing operations in Vermont, New Jersey, North Carolina, and Mexico.

"Our plans are to maintain our existing manufacturing operations in North America supplemented by offshore sourcing plus this new facility in Honduras."