AN American manufacturer has bought a major stake in furniture manufacturer Centurion.
The La-Z-Boy Chair Company, the third largest furniture manufacturer in the USA, has invested £2 million in Centurion preference shares and taken a 22 per cent stake in the company.
Centurion, based in Leyland, is a leading manufacturers of leather sofas and chairs and exports 70 per cent of its products. Said Peter Ward, Centurion's chairman: "The investment strengthens our existing licensing arrangements with La-Z-Boy and will allow us to fully participate in their plans for growth in the rest of Europe."
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