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


New Zealand Woolscourers applies for clearance

New Zealand Woolscourers applies for clearance

The Commission has received an application from Auckland businessman Mr David Ferrier seeking clearance by him and his wholly owned company New Zealand Woolscourers Limited to acquire the wool scouring and wool dumping assets of Godfrey Hirst NZ Limited, as well as up to 100 percent of the shares in Cavalier Wool Holdings Limited and some of Godfrey Hirst's wool scouring assets at Napier. The application also contains an undertaking that Mr Ferrier will subsequently divest the wool dumping assets of Godfrey Hirst.

Cavalier Wool, which is 92.5 percent owned by Cavalier Bremworth Limited and 7.5 percent by interests associated with Mr David Ferrier, operates wool scours at Napier and Timaru. Godfrey Hirst operates wool scours at Napier and Invercargill.

In considering the application, the Commission's role is to determine whether the acquisition has the effect of substantially lessening competition in a market.

A public version of the application is available on the Commission's website under public registers. Background

The proposed acquisition involves a series of transactions which would result in the wool scouring businesses of Godfrey Hirst and Cavalier Wool coming under common ownership.

In the application, clearance is sought for:

(a) Mr David Ferrier, through his wholly owned company New Zealand Woolscourers, or any interconnected body corporate, to acquire up to 100 percent of:

(i) the wool scouring assets of Godfrey Hirst, or any interconnected body corporate, comprising the assets located at Clive (near Napier), Clifton (near Invercargill), 50 shares in Lanolin Trading Co Limited, stock and lanolin; and/or

(ii) the wool dumping assets of Godfrey Hirst, comprising the plant and equipment located at Clive, Clifton, Christchurch and Dunedin; and/or

(iii) up to 100 percent of the shares in Cavalier Wool, or any interconnected body corporate; and/or

(b) Cavalier Wool (in which Mr Ferrier related interests will have a shareholding giving rise to a substantial degree of influence), or any interconnected body corporate, to acquire the 2.4m wool scouring line at Clive and land and buildings located at Main Road, State Highway 2, Clive, Hawkes Bay, an assignment of the contract for wool scouring with Godfrey Hirst and 50 shares in Lanolin Trading Co Limited.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Financial Markets Authority: Online Investing Platforms Transform Attitudes To Investing

Eight out of 10 New Zealand investors have a more favourable view of investing and financial markets after using online investing platforms, according to research released today by the Financial Markets Authority - Te Mana Tātai Hokohoko... More>>

Barfoot and Thompson: Auckland Housing Prices Shrug Off Winter Concerns

Auckland house prices shrugged off the normal winter downturn, concerns about increasing prices and warnings of possible future interest rate rises in July.
“Mounting concerns about the prices being paid and possible future interest rate increases did nothing to dampen July trading... More>>

Stats NZ: Sharp Falls In Unemployment And Underutilisation

The seasonally adjusted unemployment and underutilisation rates fell to 4.0 and 10.5 percent, respectively, in the June 2021 quarter, Stats NZ said today. The unemployment rate continued to fall from its recent peak of 5.3 percent in the September 2020 quarter... More>>

ASB: Labour Shortage Sting Set To Cause Issues For Years According To Latest Quarterly Economic Forecast

There are positives and negatives in the latest ASB Quarterly Economic Forecast as New Zealand continues to bounce back strongly from COVID-19. The closed border is putting additional strain on the country’s labour market... More>>

Transport: July 2021 New Vehicle Registrations Boosted By EV Rebate Scheme
Motor Industry Association Chief Executive David Crawford says that July 2021 sales of new vehicles were boosted by the recently introduced rebate scheme. July 2021 registrations were 15,053 units compared to 12,263 units for July 2020... More>>

ASB: New Support Finder Tool Helps Connect Customers With Thousands In Government Support

ASB research alongside benefit numbers from the Ministry of Social Development shows an increased number of Kiwis are struggling financially, and many may not be aware they’re eligible for government support... More>>