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Monday, December 12, 2005

State Government Ensures Future of Tascot Templeton Carpets -

State Government Ensures Future of Tascot Templeton Carpets - Brenton Best, MHA - Tasmanian Government Media Releases

The State Government has put together a package of assistance to ensure Tascot Templeton Carpets at Devonport continued operating and the jobs at the company were safe, Member for Braddon, Brenton Best MHA said today.


?The parent company Ulster Carpets have indicated that they would concentrate their business in their core geographic region,? Mr Best said.


?That left the operation at Devonport precariously placed with a buy out of the company by local management as the most logical way of ensuring the company?s future.


?This has been achieved with State Government assistance.


?The other option was total closure and all parties wanted to avoid that at all costs.


?This is a very desirable outcome as it secures the 175 jobs at the Devonport operation.


?Historically the company has been a viable business and its future prospects are bright.


?The State Government has provided an assistance package of $1.818 million to help secure the management buy out.


?The package comprises a $1.6 million fully secured loan assessed at commercial rates and over $218,000 in industry assistance grants.


?I?m absolutely delighted that we have been able to secure the 175 jobs at Tascot and ensure that an important Tasmanian business continues into the future.


?Tascot has been an important part of the North West community since 1961 and the business has recently undergone a restructuring process that has seen its viability markedly improve.


?Without this assistance to facilitate the management buy out the staff would have been facing a very uncertain time in the lead up to Christmas.


?The good news today will no doubt be a welcome early Christmas present for everyone involved,? Mr Best said.




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