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

Textiles | On 2nd Dec 2016

Indian currency crisis impacts global cotton market

The currency crisis in India, marked by insufficient supply of new...

Huang Wei from Fiber Raw Material Dept of Sinopec Chemical Commercial Holding speaking at the Forum

Textiles | On 2nd Dec 2016

Huge potential for nylon consumption: Experts

There is huge potential for increase in nylon consumption said...

Apparel/Garments | On 2nd Dec 2016

Aditya Birla Group to establish apparel unit in Odisha

Aditya Birla Retail and Fashion Ltd. (ABFRL) is establishing a new...

Interviews View All

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Pratik Bachkaniwala
Palod Himson Machines

Fabric processing machines are picking up

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Suresh Patel
Sidwin Fabric

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

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer Prathyusha Garimella is known for blending...

Wendell Rodricks
Wendell Rodricks

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

Jay Ramrakhiani
Occasions Elegance Wear

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

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
December 2016

December 2016

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

SUBSCRIBE


Browse Our Archives

GO


Advanced Search