Home / Knowledge / News / Textiles / Wools of NZ to raise NZ$10mn from strong wool growers
Wools of NZ to raise NZ$10mn from strong wool growers
06
Nov '12
To improve its prospects for establishing itself as a central wool marketing body, Christchurch-based global wool marketing firm Wools of New Zealand intends to raise NZ$ 10 million from strong wool growers by issuing shares valuing NZ$ 1 per unit.
 
The firm relied on wool market development fee for its funding since 2010, till PGG Wrightson transferred its assets to the Wools of New Zealand Trust, a 100 percent grower-owned entity last year in an attempt to establish a central promotional body for the wool industry.
 
The firm would be required to raise a minimum NZ$ 5 million, of which around NZ$ 1.87 million would be utilized to pay-off the loan it obtained from its shareholder, Wools of New Zealand Trust. The rest of the money raised would be used for devising marketing and royalty earning programmes and in developing supply chains.
 
The idea is to invite growers to be a part of a program where they would be required to contribute 15 cents/kg for their annual strong wool production to a Wool Market Development Committee, till 2018, till the firm becomes capable to support itself.
 
According to Wools of NZ Chairman Mark Shadbold, the plan is not an innovative idea and it cannot be expected to bring an instant solution to the issues being faced by the strong wool growers in New Zealand.
 
However, he said other primary sectors that joined such programs and invested in the same to aid creation of innovative products and processes have been compensated for their efforts.
 
The offer is open till December 14 and both individual and corporate strong wool growers can subscribe to the same in ratio of one share for every two kg of annual production.
 
The last effort to develop a marketing body failed as Wool Partners Cooperative could not raise NZ$ 55 million required to set itself in motion.
 

Fibre2fashion News Desk - India


Must ReadView All

Europe fights against microplastic release from textiles

Textiles | On 18th Jan 2018

Europe fights against microplastic release from textiles

The European Commission, the institution of the European Union, has...

Egypt starts building biggest textile city in Al-Sadat

Textiles | On 18th Jan 2018

Egypt starts building biggest textile city in Al-Sadat

Egypt has started construction of the biggest city for textiles and...

Vietnam targets $20 bn from export of footwear, bags

Apparel/Garments | On 18th Jan 2018

Vietnam targets $20 bn from export of footwear, bags

Vietnam targets to earn around $20 billion from the export of...

Interviews View All

Manfred Mentges
Sedo Treepoint GmbH

We see a higher demand in colour management systems, as customers see big...

Top executives
Textile industry, India

Such fairs are a must for industry to showcase new innovations

Milind Khandwe
Hindoostan Innovation Centre

‘Modern technical textile is an indispensable tool for science and...

Sandip Bhojani, Manthan Patel

Krypthm Tradelink LLP is a Surat-based manufacturer of westernwear....

Urmil Arya

Sushila International, a well established textile organisation established ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kai Poehler
Voith Paper GmbH & Co. KG

The glass mat industry is growing by five to eight per cent annually. Kai...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Jay Ramrakhiani
Occasions Elegance Wear

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

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

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 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
68.8%
No
13.5%
Skip
17.7%

Total Votes: 96

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.5%
No
29.2%
Skip
7.3%

Total Votes: 96

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.5%
No
9.4%
Skip
3.1%

Total Votes: 96

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.3%
No
8.3%
Skip
9.4%

Total Votes: 96


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