Home / Knowledge / News / Textiles / Cavalier Wool applies for authorisation to buy Wool Services
Cavalier Wool applies for authorisation to buy Wool Services
09
Feb '11
The Commerce Commission has received an application from Cavalier Wool Holdings seeking authorisation to acquire up to 100 per cent of:

- New Zealand Wool Services International's wool scouring assets and stock or any interconnected body corporate of that company; and/or

- the shares in New Zealand Wool Services International.

When it receives an application for authorisation, the Commerce Commission must first determine whether the relevant acquisition has the effect of substantially lessening competition in a market. If it does not, the Commission may give clearance for the acquisition. If it does, the Commission must determine whether any benefits to the public of New Zealand arising from the acquisition outweigh the detriments due to the loss of competition. If there is a net positive public benefit the Commission must authorise the acquisition which may occur notwithstanding the loss of competition arising.

Cavalier Wool Holdings owns two wool scouring plants in Hawkes Bay and in Timaru. Cavalier Wool Holdings Limited is 50 per cent owned by Cavalier Corporation and 25 per cent by each of Direct Capital and ACC. Cavalier Corporation has other subsidiaries involved in wool procurement and in the manufacture of carpets.

New Zealand Wool Services International is both a wool scourer and a wool trader. It owns two scouring plants, one in Hawkes Bay and the other near Christchurch. Together Plum Duff and Woolpak Holdings own 63.87 per cent of the shares of New Zealand Wool Services International. Plum Duff and Woolpak Holdings are in receivership and the receivers have sought expressions of interest to acquire the shares in New Zealand Wool Services International.

Commerce Commission


Must ReadView All

Apparel/Garments | On 26th Jun 2017

GSTN registration reopens

E-commerce operators and TDS (tax deducted at source) deductors can...

Textiles | On 26th Jun 2017

Expedite release of ROSL pending claims: TEA to Centre

The Tiruppur Exporters' Association (TEA) has again urged Union...

Textiles | On 26th Jun 2017

'Export promotion schemes to continue under GST regime'

The export promotion schemes will continue under GST regime, said...

Interviews View All

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Asim Dalal
Indo Count Retail Ventures

Today, there is no other emerging market as India, "we make in India and...

Manuj Terapanthi
Texaura

Transparent supply chain and fair trade will boost sustainable market

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Giorgio Mantovani
Corman S.p.A

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

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Prathyusha Garimella
Prathyusha Garimella

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

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

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:
July 2017

July 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