The wool sector in New Zealand is worried over the possible implications of Cavalier Wool, buying off the scouring operations and other assets of New Zealand Wool Services International.
The wool sector fears that a monopoly like situation could be created, which does not bode well for the holistic growth of the New Zealand wool industry.
The Commerce Commission in its preliminary draft has acknowledged the fact that, the purchase by Cavalier would create a monopoly like situation in the scouring industry.
Cavalier is a wool processor as well as carpet producer, while New Zealand Wool Services International is New Zealand's biggest wool exporter.
In a bid to find an answer to the concerns raised by the wool sector, the Commerce Commission is holding a two-day conference on a draft decision to allow Cavalier Wool to buy the scouring operations.
Fibre2fashion News Desk - India
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