Bremworth launches $6M expansion of cyclone-damaged Napier plant
Listed carpet manufacturer, Bremworth is undertaking a $6 million expansion at its Napier plant more than two years after the site was heavily damaged by Cyclone Gabrielle.
In a NZ Stock Exchange announcement this morning, Bremworth says Hewett, Julie Bohnenn, Murray Dyer and Trevor Burt have been appointed to the board.
Gone from the board are Paul Izzard, Katherine Turner and Dianne Williams. Outgoing chair George Adams and John Rae are staying on as board members.
The board revamp follows a bid launched two weeks ago by a group of shareholders to change the board. The group wrote to Adams seeking a special general meeting to install Hewett as the new chair. Adams had responded by agreeing to hold the meeting.
Today’s announcement means the group had mustered enough support among shareholders to force the board changes without a special meeting.
The NZX release says that “as a result of the constructive engagement since the 1 March 2025 notice requesting that a special shareholders meeting be convened to consider proposed director changes, the requesting shareholders have withdrawn their notice”.
Hewett, the outgoing co-chair of Silver Fern Farms and current chair of WoolWorks and Farmlands Co-operative, says Bremworth is at a crucial crossroads.
“We appreciate the hard work and dedication of the Board under George’s leadership during a very challenging period for Bremworth, and its settlement of the long-running insurance claims process. We will need to call on the experience of all directors as we take Bremworth into its new era, which demands a fresh approach to drive growth and earnings.
“The new directors and I are committed to bringing our collective agri, operating and governance experience and skills to stabilising the business, protecting shareholder value, and unlocking the potential of Bremworth,” says Hewett.
Outgoing chair George Adams says they look forward to working together as a board to realise Bremworth’s potential and deliver value for shareholders as we focus on creating the desirable and superior natural-fibre products that Bremworth is known for.
