Consultant tells Feltex hearing he turned down shares as payment a year out from float

Thu, 03 Apr 2014

April 3 (BusinessDesk) – An Australian engineering consultant specialising in ‘lean manufacturing’ says he turned down an offer of shares in Feltex Carpets in the year before its initial public offering because he was concerned for the company’s future. John Blakemore, principle of Sydney-based Blakemore Consulting International, had been hired by US carpet maker Shaw Industries in 1999 to audit and advise on the adoption on lean manufacturing practices at its Australian unit, which was subsequently acquired by Feltex. He went on to advise th...

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