DANBURY, CT — Ethan Allen Interiors Inc. announced Oct. 27 that it has acquired a former casegoods manufacturing plant in Honduras. The Honduras facility is 164,000 square feet and is situated on 18 acres of land.
Ethan Allen Chairman and CEO Farooq Kathwari said, "We are pleased that during the last three years we have repositioned many elements of our vertically integrated enterprise. Over the next 12 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."
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. The home furnishings company says approximately 70 percent of its products are made in its United States plants.
Earlier this month, Ethan Allen reported net sales for the third quarter ended Sept. 30 increased 12.2% over the prior year, to $184.9 million. Its Retail division net sales increased 16.7% to $141.2 million, including comparable design center net sales growth of 14.9%. Net income for the quarter was $6.8 million, up from $3.8 million the prior year.
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