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Ownership Of Wools Of NZ Brand Changes Hands

18 August 2006

Ownership Of Wools Of New Zealand Brand Changes Hands

The board of the Wool Research Organisation of New Zealand Inc (Wool Research) announced today that it had purchased the Wool Interiors division from Canesis.

Wool Interiors administers the widely-recognised Wools of New Zealand brand which is licensed to manufacturers of New Zealand wool floor coverings around the world. Wool Interiors also delivers in-market support, technical advice and carpet technologies to New Zealand wool users, predominantly for carpet applications. The R&D capability of Wool Interiors will remain within Canesis.

“Wool Interiors’ marketing capability offers Wool Research the opportunity to add value to the New Zealand Wool industry and the recently formed Wool Industry Network through the targeted support it provides in key export markets around the world,” says Wool Research Chairman Mr Mike Peterson. Wool Interiors works with more than 140 licensed manufacturing partners located around the world who market Wools of New Zealand branded carpet and rug ranges, through more than 10,000 retailers. Canesis chairman Dr Andy Pearce said the board was pleased that Wool Interiors had been purchased by Wool Research which would continue to promote the visibility of the Wools of New Zealand brand internationally.

“The sale of Wool Interiors is consistent with Canesis’ strategy to re-focus its business as an R&D provider specialising in fibrous proteins, bio-based materials and innovative textiles,” says Dr Pearce.

Canesis will continue to undertake wool research projects on behalf of Wool Research and Meat & Wool New Zealand.

Despite the change of ownership, both Canesis and Wool Research see a continued close relationship between Wool Interiors and Canesis.

ENDS

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