Tenon on a tear as US housing recovers, says Edison report

Tue, 10 Sep 2013

By Pattrick Smellie Sept 11 (BusinessDesk) – Taupo-based moulded wood products manufacturer Tenon is due for further share price growth as preparations made for the recovery of the US housing market start to bear fruit, says Edison Investment Research in a new report on the company. With 87 percent of its sales in North America, Tenon has struggled with losses in recent years with the high kiwi dollar and the collapse in US housing starts following the severe market shakeout that occurred in the wake the sub-prime mortgage crisis, one of the...

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