RINGGOLD, Ga. - Tapistron International, Inc. (OTC BB:TAPI) announced the sale of its new simultaneous cut and loop TAPISTRON carpet manufacturing system to Formosa Chemical and Fibre Corporation in Taiwan, Republic of China.
Formosa Chemical and Fibre Corporation makes a broad range of carpets, carpet tiles and rugs for the residential, commercial and transportation markets.
This transaction marks the first delivery of the Company's TAPISTRON machine technology to this important market, officials said.
Rodney C. Hardeman, Jr., President and CEO stated, "We are most pleased to have a Company of the quality of Formosa Chemical and Fibre Corporation initiate the production of TAPISTRON carpets and rugs in this region of the Asia-Pacific market. By adding to existing production sites in Thailand, Hong Kong, and Japan, we believe our unequaled technology and proven product profitability will continue to attract leading manufacturers in the region," he concluded.