Home / Knowledge / News / Textiles / Wool spinning mill of NZ's Qualityarns set for revival
Wool spinning mill of NZ's Qualityarns set for revival
11
Apr '12
A group of knitting firms and New Zealand based farmer-owned investment company Wool Equities have joined hands to buy and revive the Qualityarns wool spinning plant based at Milton in South Otago.

The historic woollen mill in Milton town, owned by Qualityarns, produced specialist knitting and weaving yarns. But, it was compelled to stop its processing activities in later half of 2011.

As stated by the company, several factors like inability to withstand competition from imported yarns flowing in as a result of trade agreements with China, as also high compliance costs of the Resource Management Act, Emissions Trading Scheme and Accident Compensation Scheme compelled it to cease operations.

The wool spinning plant, which is considered to be a foundation stone of New Zealand's non-carpet textile industry, has an ability to spin almost any type of yarn, and these yarns serve as inputs for several knitters and spinners.

It became difficult for these knitters and spinners to source such yarn from any other domestic source, after the mill closed.

Hence, a consortium of knitters, who purchased yarn from the mill, approached Wool Equities, which has resulted in a deal for purchasing and re-starting the plant next month onwards.

The machineries of the woollen mill were procured by the new consortium with absolutely no reservations, and the knitters group is expected to soon finalize other details of the deal.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 18th Jan 2017

China lays out plan to boost foreign investment

The Government of China has outlined measures to boost foreign...

Prime Minister Theresa May speaking on the UK government's negotiating objectives for exiting the EU. Courtesy: UK government

Textiles | On 18th Jan 2017

UK to pursue trade agreements with other countries

The United Kingdom will pursue free trade agreements with the EU and...

Courtesy: IMF

Textiles | On 18th Jan 2017

Risks to global growth outlook skewed to downside: IMF

Risks to the global growth outlook are two sided but are assessed to...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Sachin Sharma
Gem Enviro Management Pvt Ltd

There are no significant differences between virgin yarn and PET recycled...

Rahuul Jashnani
Jashn

‘Online economy has changed the whole dynamics of buying habits.’

Suresh Patel
Sidwin Fabric

Sidwin Fabric is a manufacturer and exporter of polypropylene textiles and ...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

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
January 2017

January 2017

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

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search