Window treatment manufacturer Kresta has completed the sale of a factory in Perth for $3.8 million, and plans to use most of the new funds to reduce debt.
In a statement Kresta said $3.1 million would be used to pay back bank debt, and the balance of $700,000 would be applied to the company's working capital.
The company said another set of factory sales were also set to be inked today, with $1.1 million of the proceeds going to reduce debt and the $1.2 million balance going toward working capital.