Ethan Allen Announces Manufacturing Expansion
DANBURY, Conn.- (BUSINESS WIRE) - Ethan Allen Interiors Inc. ("Ethan Allen", the "Company", "We", or "Our") (NYSE: ETH) announced today it has acquired a former case goods manufacturing plant in Honduras. This Honduras facility is 164,000 square feet situated on 18 acres with access to essential raw materials, major highways, a modern seaport, and state of the art communications networks.
Farooq Kathwari, Chairman and CEO commented, "We are pleased that during the last three years we have repositioned many elements of our vertically integrated enterprise. Over the next twelve 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."
About Ethan Allen
Ethan Allen Interiors Inc. is a leading interior design company and a manufacturer and retailer of quality home furnishings. Ethan Allen offers free interior design service to its clients and sells a full range of furniture products and decorative accessories through ethanallen.com and through a network of approximately 300 Design Centers in the United States and abroad. Ethan Allen owns and operates seven manufacturing facilities in North America, including five manufacturing plants and one sawmill in the United States and one manufacturing plant in Mexico. Approximately seventy percent of its products are made in its United States plants. For more information on Ethan Allen's products and services, visit ethanallen.com.
This press release should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended June 30, 2011 (the "2011 Form 10-K") and other reports filed with the Securities and Exchange Commission. This press release and related discussions contain forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect management's current expectations concerning future events and results of the Company, and are subject to various assumptions, risks and uncertainties including specifically, and without limitation, those set forth in Part I, Item 1A "Risk Factors" of the 2011 Form 10-K. Accordingly, actual future events or results could differ materially from those contemplated by the forward-looking statements. The Company assumes no obligation to update or provide revision to any forward-looking statement at any time for any reason.
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