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Wool Equities may acquire Qualityarns

15
Mar '12
Wool Equities Ltd. has shown interest in acquiring Qualityarns New Zealand Ltd., a struggling woolen mill in Milton town.

The Chirstchurch-based company said it had signed a conditional agreement to buy the intellectual property and wool processing plant of Qualityarns.

Clifford Heath, Chairman of Wool Equities, said the company has initiated the process of purchasing the mill and they are meeting former staff of Qualityarns.

He said they are informing the former Qualityarns employees about the present status of talks and are trying to gauge how many of them were willing to work again.

Mr. Heath said a final decision about the mill's acquisition would be made next week.

Fibre2fashion News Desk - India


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