Wools of New Zealand signs major deal in China
Wools of New Zealand has signed a partnership agreement with a leading Chinese manufacturer as the company looks to further grow demand in China and globally.
Approximately 2,100 farmers will vote in November on a proposed merger between grower-owned export and marketing company Wools of New Zealand (WNZ) and Primary Wool Co-operative.
Ahead of the vote, Primary Wool Co-operative will become the 100% owner of CP Wool with the purchase of Carrfields Ltd’s 50% shareholding.
Carrfields Ltd will turn its focus to specialist manufacturing of wool and hemp products through its majority ownership of the NZ Natural Fibres business alongside Hemp New Zealand and other minority shareholders.
“These strategic moves are the outcome of year-long talks between Carrfields Ltd, Primary Wool Co-operative and WNZ, which collectively handle 37% of New Zealand’s wool clip,” says James Parsons, chair of WNZ.
“Growers have been asking for consolidation and now they will get the chance to have their say. Together, we can deliver the vision and scale required to make a real difference to New Zealand’s struggling wool industry.”
Richard Young, chair of Primary Wool Co-operative and director of CP Wool, says the proposed merger marks the start of an exciting chapter for the wool sector and will act as a launch-pad for New Zealand to truly realise the full potential of wool.
“This proposed combined business will enable both businesses to realise their potential as a single grower-owned entity,” Young says.
“For CP Wool suppliers, it will be the link to greater customer intimacy via the Wools of NZ market-focused strategy. For Wools of NZ growers, CP Wool will bring the engine with its large bale numbers and network of stores that allows that strategy to come to life.
Craig Carr, managing director of Carrfields and chairman of CP Wool, says the wool industry needs leadership, investment and a strategic focus to deliver better outcomes for long term participants.
“In the current fast moving environment, we want to ratchet up our activity through NZ Natural Fibres and we have a number of exciting opportunities in front of us.”
He says Carrfields will continue working with its international brand partners in it drive to develop new markets for wool.
Meat co-operative, Alliance has met with a group of farmer shareholders, who oppose the sale of a controlling stake in the co-op to Irish company Dawn Meats.
Rollovers of quad bikes or ATVs towing calf milk trailers have typically prompted a Safety Alert from Safer Farms, the industry-led organisation dedicated to fostering a safer farming culture across New Zealand.
The Government has announced it has invested $8 million in lower methane dairy genetics research.
A group of Kiwi farmers are urging Alliance farmer-shareholders to vote against a deal that would see the red meat co-operative sell approximately $270 million in shares to Ireland's Dawn Meats.
In a few hundred words it's impossible to adequately describe the outstanding contribution that James Brendan Bolger made to New Zealand since he first entered politics in 1972.
Dawn Meats is set to increase its proposed investment in Alliance Group by up to $25 million following stronger than forecast year-end results by Alliance.
OPINION: Ageing lefty Chris Trotter reckons that the decision to delay recognition of Palestinian statehood is more than just a fit…
OPINION: A mate of yours truly recently met someone at a BBQ who works at a big consulting firm who spent…