O'Connor-based insulation manufacturer Cool or Cosy Ltd announced plans to sell its transportable business subsidiary, Blue Ridge WA Pty Ltd, its former owner and current chief executive Alan Mackenzie.
As WA Business News reported in September, Blue Ridge generated nearly $4 million in sales in its first year of operation.
It is aiming to double and possibly triple sales in the current financial year, and will be moving to larger premises in Kewdale early next year to support its growth.
The full text of an announcement from Cool or Cosy is pasted below
Cool or Cosy today announced the sale of its transportable business subsidiary, Blue Ridge WA Pty Ltd, to its former owner and current CEO, Alan Mackenzie.
Chief Operating Officer, Ronald Sanders said "the sale was in line with previous announcements and would enable Cool or Cosy to focus on its traditional core businesses, Airconditioning and Insulation. The sale comes at a time when management is focussed on the development of the ducted air-conditioning sector which, to date, has shown encouraging signs".
"We have enjoyed working with Alan over this past year in helping him develop the business and we wish him every success for the future" he said.
