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: Raymond

Apparel/Garments | On 28th Jun 2017

Raymond plans to invest Rs 1,400 crore in Amravati plant

Raymond, Indian textiles and apparel major, has decided to invest Rs...

Textiles | On 28th Jun 2017

GST and textiles industry: Analysis and opinion

The Goods and Services Tax (GST) is at long last all set to be rolled ...

Textiles | On 28th Jun 2017

India probing dumping of polyester yarn by China

Indian government is probing anti-dumping allegations against a...

Interviews View All

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Stefan Warnaar
Peak to Plateau

People are willing to pay for quality and performance

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Robert Brunner
Devereux

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

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:
July 2017

July 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