Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Primary Wool makes key international appointment

Primary Wool makes key international appointment

The farmer-owned wool procurement and marketing company, Primary Wool Cooperative Ltd, has taken a major step forward in its objective of linking New Zealand wool growers directly with European and United Kingdom woollen mills.

It has appointed a highly experienced British wool executive to the key position of northern hemisphere wool marketing representative.

Englishman Graham Sugden has had 25 years experience in dealing with woollen mills throughout UK and Europe.

In his new role he will forge relationships between Primary Wool and European/UK woollen mills, opening the way for Primary Wool to lock New Zealand growers into direct back-to-back contractual arrangements with the mills.

Managing director Brian Murray, says Sugden will enable the cooperative to fulfil the vertically-integrated market structure that growers have been talking about and seeking for years.

"This appointment is a massive step forward for Primary Wool because it enables us to bypass the years of footwork and groundwork that would otherwise be needed to build relationships with the mills," he says. "We already have back-to-back contracts between growers and New Zealand mills that are steadily expanding, but being able to put these contracts directly in place in the international arena is a huge step forward for New Zealand wool growers and for our cooperative."

Mr Murray says there has been a very positive response from wool producers to the need to become shareholders in Primary Wool, and the number of shareholders in the company has doubled in six months.

But he says that's not enough, and the cooperative is determined to have more growers fully subscribing their shareholding. Wool producers who take up their full entitlement in the cooperative are able to receive the full cash benefits arising from the cooperative's distribution of proceeds.

© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news