Carpet maker 'to buy textiles firm'

One of the largest carpet making firms in the world is about to bid for a textile firm that is setting up a factory next door to its own.

Egyptian company Oriental Weavers revealed to Fibre2Fashion that it is looking to buy into Rosetex, which is building its factory on land adjacent to its own plant.

Investment relations manager at Oriental Haitham Moneim told the news provider: “This planned acquisition of the Rosetex facility, which is located next door, is part of Oriental Weavers' expansion strategy."

He added that the plan to buy Rosetex will be discussed at the company's annual general meeting on March 21st, with the acquisition likely to add "further enhancements in [the] production process".

Many carpet firms could be set for better times ahead as wall-to-wall carpet has been described as becoming fashionable again.

Director of Adrienne Chinn Design Company Limited Adrienne Chinn said recently that such flooring has been out of vogue for the past 15 years but is coming back into favour now.

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