Home / Knowledge / News / Textiles / NZ wool spinner likely to cut jobs at Oamaru plant
NZ wool spinner likely to cut jobs at Oamaru plant
20
Apr '12
Summit Wool Spinners, New Zealand's biggest independent spinner, is likely to cut jobs at its Oamaru yarn plant in New Zealand.

Hit by low demand, the company, one of the biggest employers in Oamaru, is considering reducing production.

Although the company decreased the work hours of its 250 employees since Christmas, it failed to save enough to balance the loss in demand, said Phillip Howe, Production Manager of Summit.

He said that presently the company is reviewing its options, and would shortly start consultations with representatives of workers, before making any final announcement.

A few years ago, following announcement of the company's restructuring plans, 60 employees accepted voluntary redundancy, while rest of them accepted reduced shifts due to the introduction of the Government's nine-day fortnight scheme at the yarn plant.

Summit Wool Spinners supplies carpets and rug yarn to local as well as foreign markets.

Local farmers and entrepreneurs started the woollen mill in 1881, which was later on sold by Alliance Textiles to Sumitomo Corporation owned Summit Wool Spinners in 1992.

For past some time, the company has been enduring a slump in orders, Mr. Howe said, and added that high prices of wool and appreciation of New Zealand dollar against the US dollar are making the market tougher.

Fibre2fashion News Desk - India


Must ReadView All

Apparel/Garments | On 23rd Jun 2017

Alfredo Grassi to develop graphene-enhanced workwear

Alfredo Grassi, manufacturer of customised protective clothing,...

Courtesy: IMRG

Apparel/Garments | On 23rd Jun 2017

UK online retail sales up only 10.2 pc YoY in May 2017

UK online retail sales were up 10.2 per cent year-on-year (YoY) in...

Courtesy: Radicigroup

Textiles | On 23rd Jun 2017

Radici Chimica focuses on business continuity

Radici Chimica SpA, a strategic RadiciGroup company, is keen on...

Interviews View All

Akash Khetan
Narayan Tex Fab

I find it hard to find professionals in Surat

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Dinaz Madhukar
DLF Emporio and DLF Promenade

‘Each event and promotion is planned out keeping in mind the business of...

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...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Pranav Mishra
Huemn

Designers Pranav Mishra and Shyma Shetty’s Huemn is known for its...

Karan Arora
Karan Arora

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

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

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:
June 2017

June 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