Home / Knowledge / News / Textiles / Structural changes at Wool Partners International
Structural changes at Wool Partners International
18
Mar '11
Wool Partners International (WPI) and PGG Wrightson (PGW) announced that they have reached agreement on the future direction of WPI.

Following the conclusion of the Wool Partners Co-operative capital raise WPI will soon revert to being 100% owned by PGW. However, given the strong desire shown by growers to take a greater role in their industry, PGW has agreed to support the development of an alternative to the Wool Partners Co-operative (WPC) proposal. This work has been colloquially termed “WPC Plan B”.

“While the WPC proposal ultimately did not achieve the level of support that it was targeting, 30% of growers clearly believe that grower ownership of the wool industry is important. In conjunction with WPI, we remain committed to helping growers achieve this goal,” said George Gould, Managing Director of PGW.

“In committing to this outcome we do have to recognise that WPI will be a PGW owned business and we have consequently agreed a number of changes to the Board which reflect the balance between our ownership and our commitment to future grower ownership.”

These changes will see George Gould appointed as Chairman of WPI, Bill Thomas and Jeff Grant appointed as new directors to the WPI Board and Mark Shadbolt continuing as a director. The remaining WPI directors, Theresa Gattung and Keith Sutton, have stepped down from the Board, while Craig Norgate resigned from the board last month.

As a further reflection of PGW's commitment to advance grower involvement in WPI, Mark Shadbolt will also remain a director of WPI's wholly-owned marketing subsidiary, Wools of New Zealand.

Mr Shadbolt welcomed PGW's support. “We've said that we need grower ownership in the wool industry if we are to create a structure that will allow us to secure sustainably better wool prices for growers. We're busy working up details on what a WPC Plan B might look like and have begun consulting with growers on this. We are delighted with the commitment shown by PGW and their willingness to continue to allow grower involvement in the running of WPI.”

WPI Chief Executive Officer Iain Abercrombie has also announced that he will be stepping down from the business at this time to pursue other opportunities. During his tenure, WPI has succeeded in pulling together an integrated value chain for wool including the wool brokering business of PGW, the exporting business of Bloch & Behrens and the Wools of New Zealand marketing arm and has overseen the launch of Laneve into the US and European markets.

The success of these strategies has become evident in recent months as WPI has secured brand royalties from manufacturing partners internationally and has started offering added-value contracts to growers in New Zealand.

Mr Gould acknowledged the outstanding work Theresa Gattung, Keith Sutton, Craig Norgate and Iain Abercrombie have done on behalf of WPI and growers alike.

A new Chief Operating Officer, Craig Osborne, has been appointed to lead the WPI business. Having been raised on a Manawatu sheep farm, Mr Osborne comes to the role with a 20-year career in agriculture and agricultural co-operatives.

“It's a privilege to be asked to lead this business and an exciting time to be joining it,” said Mr Osborne. “WPI has a very good business which I think others in the industry are now starting to recognise. There are a lot of opportunities in front of us and I look forward to pursuing those and working with growers to help facilitate WPC Plan B.”

PGG Wrightson (PGW)

Must ReadView All

Textiles | On 22nd Apr 2017

Strong rupee & weak trade to affect textile exporters

Textile and apparel exporters' earnings and EBITDA margins will be...

Textiles | On 22nd Apr 2017

Myntra acquires InLogg

With an aim to strengthen supply chain and logistics, Flipkart-owned...

Textiles | On 22nd Apr 2017

Aditya Birla Group launches new variant Liva Crème

After its successful launch of high quality fabric Liva in 2015,...

Interviews View All

Pinkesh Jain
Everflow Petrofils Ltd

‘An innovative technology which India needs desperately is the...

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Mukesh Agarwal & Rajesh Agarwal
Madhuram Fincap Pvt Ltd

Increasing prices and lack of demand main issues facing industry

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Judy Frater
Somaiya Kala Vidya

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

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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
April 2017

April 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