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Cavalier welcomes merger decision


10 June 2011


Cavalier welcomes merger decision


Cavalier Wool Holdings Ltd (CWH) is very pleased today to have received a positive final decision from the New Zealand Commerce Commission regarding their application to allow CWH to purchase the assets of New Zealand Wool Services Ltd (NZWSI).

This decision paves the way for CWH to negotiate the sale and purchase of the assets of the NZWSI business with confidence.

“Throughout the Commerce Commission process we presented a very strong economic model,” said Nigel Hales, CEO CWH.

“The merger of the wool scouring businesses is a positive step forward and is part of the structural changes that the industry requires to gain efficiencies, continuous improvement and remain competitive with our international woolscourer competitors.”

Hales said he was heartened by the level of support received from many within the industry who recognize the merger of CWH and the NZWSI scouring operations will deliver real benefits for the entire New Zealand wool industry.


Ends.


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