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We are working to increase demand for wool – AWI Chairman
19
Nov '10
The Australian wool industry research, development and marketing organisation Australian Wool Innovation (AWI) reported on a year of change and progress at its Annual General Meeting.

Chairman Wal Merriman stated the company had reduced its annual operational and project spend from $85 million to $44 in two years, with an operating surplus of $16 million for the 2009-10 financial year.

“We are working to increase demand for wool. This is being done according to the 70:30 off farm: on farm spending split woolgrowers so strongly endorsed at WoolPoll. With the first major marketing campaigns in over a decade now underway and strong reserves to fund research and development, I am very optimistic for the future of this great natural fibre,” Mr Merriman added.

AWI CEO Stuart McCullough spoke of the role woolgrowers played in helping plan the transition of the company to a commercially-focused organisation.

“Under a new Strategic Plan AWI is increasingly in partnership with processors, brands and retailers who want to use wool. These partnerships are aided by our off and on- farm research and development which works to increase the profitability of growing wool,” he added.

The meeting heard how progress was being made across key areas identified by woolgrowers; flystrike prevention, lice, wild dogs and shearer and shedhand training.

In accordance with last year's successful vote to conduct director elections every two years, no election of directors took place at this year's AWI AGM. Three of the current board positions will be open for election at the 2011 AWI AGM.

Australian Wool Innovation Limited

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