Home / Knowledge / News / Textiles / Elders to close its wool trading arm
Elders to close its wool trading arm
01
Sep '11
Agribusiness firm Elders will be closing its wool trading arm. The company says it is very expensive to carry on the wool trading business.

However, the company's wool broking division will continue to function. It will sell wool on behalf of the producers, but the company will no longer buy wool at any of the auctions.

The wool trading division of the company was comparatively small, but one which required a lot of capital, according to Malcolm Jackman, Elders CEO.

He said that the company was allocating AUD 20 million for trading in wool, and that money can now be utilized in the firm's other trading divisions, that give a much better return.

The latest decision of Elders comes after it exited from wool processing operations, following the sale of its stake in Nanshan wool combing plant in China about a year ago.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: SGS

Textiles | On 1st May 2017

SGS develops test for microfibre in laundering

SGS Global Softlines has developed a new testing service to assess...

Textiles | On 1st May 2017

FESPA to showcase digital, screen, textile industries

Stage is set for FESPA 2017 at the Hamburg Messe, Germany during May...

Courtesy: Copenhagen Fashion Summit

Textiles | On 1st May 2017

Copenhagen Summit to focus on commitment to change

Copenhagen Fashion Summit 2017, a business forum on sustainable...

Interviews View All

Arvind Saraf
Triveni Sarees

e-Commerce is still evolving fast with constant flux and surprises

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Sanjay Desai & Ashish Mulani
True Colors

Digital textile printing will be the technology of the future

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Iago Castro Asensio
RCfil Distribuciones S.L.

Iago Castro Asensio, International Business Manager of RCfil...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Bani Batra

Bani Batra’s couture wedding collection is inspired by traditional Indian...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
April 2017

April 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search



X