Ethan Allen Expands Manufacturing in North Carolina
February 17 2022 - 4:50PM
Ethan Allen Interiors Inc. (“Ethan Allen” or the “Company”) (NYSE:
ETD) today announced that it has further strengthened its
vertically integrated enterprise. Through its subsidiary, Ethan
Allen Operations, Inc., the Company purchased certain property,
plant and equipment assets of Dimension Wood Products, Inc. Founded
in 1981 and located in Claremont, North Carolina, Dimension Wood
Products, Inc. is a manufacturer of wood frames and machined parts
used in upholstery manufacturing and has been a supplier to Ethan
Allen.
Farooq Kathwari, Ethan Allen’s Chairman,
President and CEO, commented, “We are pleased to have completed the
asset purchase with Dimension Wood Products, Inc. Their talented
associates, workshop and machinery will help us to further increase
our control over raw materials, purchased parts, and labor costs
while maintaining our high-quality standards.”
ABOUT ETHAN ALLEN
Ethan Allen Interiors Inc. (NYSE: ETD) is a
leading interior design company, manufacturer and retailer in the
home furnishings marketplace. The Company is a global luxury home
fashion brand that is vertically integrated from product design
through home delivery, which offers its customers stylish product
offerings, artisanal quality, and personalized service. The Company
provides complimentary interior design service to its clients and
sells a full range of home furnishings through a retail network of
design centers located throughout the United States and abroad as
well as online at ethanallen.com. Ethan Allen owns and operates
nine manufacturing facilities located in the United States, Mexico
and Honduras, including one sawmill, one rough mill and a
lumberyard. Approximately 75% of its products are manufactured or
assembled in these North American facilities.
For more information on Ethan Allen's products
and services, visit www.ethanallen.com.
Investor / Media Contact: Matt McNulty Senior Vice
President, Chief Financial Officer and Treasurer
IR@ethanallen.com
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