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

 

Commitment needed by wool growers on future

Media Release sent on behalf of Wools of New Zealand

5 December 2012

Commitment needed by wool growers to ensure sustainable, profitable wool future

A key objective of Wools of New Zealand is to build the company, evolving within five years to be a fully commercial grower-owned sales and marketing business.

Wools of New Zealand has spent considerable time meeting with all sectors of the industry in New Zealand and internationally building strong collaborative relationships and is now pursing commercial opportunities with supply chain participants for mutual benefit. The Directors are pleased with the cooperation and progress made to date. Wools of New Zealand is, for example, very supportive of the New Zealand scouring industry which underpins the quality and integrity of our fibre which supports the Company’s branded, market-pull strategy.

Despite the Company's efforts to build strong industry connections, the Company was disappointed to learn that, on 23 November, The Formary Limited (a Wellington-based company) filed legal proceedings against UK company Camira Fabrics Limited (First Defendant) and Wools of New Zealand Limited (Second Defendant).

The directors of Wools of New Zealand consider that the legal proceedings are frivolous and vexatious, an abuse of court process and entirely without any foundation in either fact or law. Legal advice received by Wools of New Zealand supports the Directors' view. Camira Fabrics has confirmed to Wools of New Zealand that it also believes that the proceedings are entirely without foundation.

The directors do not intend to allow these proceedings, which seem to have been filed with a view to disrupting the Wools of New Zealand Prospectus, to distract them from their goal of organising strong wool growers beyond the farm gate.

Wools of New Zealand urge’s growers to seriously evaluate the Wools of New Zealand investment offer and make a considered decision aimed at underpinning your wool returns and ensuring the long term viability of the sheep industry.

The Prospectus closes on 14 December 2012.

Only growers who commit and invest will own the assets of Wools of New Zealand including the brands.

Copies of the prospectus and investment statement including a downloadable share application form can be found at www.ourwool.co.nz

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Myrtle Rust: Infections Found At 26 Sites

The affected properties include private gardens, plant nurseries and retailers and an orchard. The stats stand at: 21 properties in Taranaki, 3 in Northland and 2 in Waikato. More>>

Burgers To America: BurgerFuel Opens In The USA

BurgerFuel Worldwide are excited to announce the opening of their first USA based restaurant in Indianapolis, hot off the back of the Indy 500. More>>

English On Budget: Businesses Over-Egg Corporate Tax Cuts

Cutting New Zealand's 28 percent corporate tax rate is "not a panacea in the way business groups sometimes market it," says Prime Minister Bill English. More>>

ALSO:

Auckland Port To Recapture Gas: Union Calls On Ports To Stop Spewing Methyl Bromide

The Maritime Union of New Zealand welcomes the decision by Ports of Auckland to stop releasing methyl bromide emissions into the air. The move to fully recapture the toxic gas after fumigation sets a new benchmark for industry best practice. More>>

ALSO:

Retail: Banks Shoes Calls In Receiver

Banks Group, which runs 14 stores across the country under the brands including Banks Shoes and Shoe Connection, has been tipped into receivership at the request of director John Bank. More>>

ALSO: