Home / Knowledge / News / Textiles / NZ wool spinner likely to cut jobs at Oamaru plant

NZ wool spinner likely to cut jobs at Oamaru plant

20
Apr '12
Summit Wool Spinners, New Zealand's biggest independent spinner, is likely to cut jobs at its Oamaru yarn plant in New Zealand.

Hit by low demand, the company, one of the biggest employers in Oamaru, is considering reducing production.

Although the company decreased the work hours of its 250 employees since Christmas, it failed to save enough to balance the loss in demand, said Phillip Howe, Production Manager of Summit.

He said that presently the company is reviewing its options, and would shortly start consultations with representatives of workers, before making any final announcement.

A few years ago, following announcement of the company's restructuring plans, 60 employees accepted voluntary redundancy, while rest of them accepted reduced shifts due to the introduction of the Government's nine-day fortnight scheme at the yarn plant.

Summit Wool Spinners supplies carpets and rug yarn to local as well as foreign markets.

Local farmers and entrepreneurs started the woollen mill in 1881, which was later on sold by Alliance Textiles to Sumitomo Corporation owned Summit Wool Spinners in 1992.

For past some time, the company has been enduring a slump in orders, Mr. Howe said, and added that high prices of wool and appreciation of New Zealand dollar against the US dollar are making the market tougher.

Fibre2fashion News Desk - India


Must ReadView All

Pic: Shutterstock

Textiles | On 5th Aug 2021

US manufacturing activity grows in Jul; textile mills report fall: ISM

Economic activity in the US manufacturing sector grew in July, with...

Pic: Shutterstock

Textiles | On 5th Aug 2021

UK inflation to hit 3.9% in early 2022, 2% in 2023, predicts NIESR

UK consumer price inflation will reach 3.9 per cent early next year,...

Pic: Shutterstock

Apparel/Garments | On 5th Aug 2021

Prime Content| Why China's share in global apparel exports will drop this year?

China's share in the global apparel exports market went down from...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Blockchains will be in heavy use by early adopters by 2025

International apparel brands, Head honchos

International apparel brands
Head honchos

Launched first collection at onset of Covid

Textile Industry, Head honchos

Textile Industry
Head honchos

The pandemic has reinstated need for organised retail spaces in Tier II...

Raiyan Islam,

Raiyan Islam

Founded in 1981 by Sayeeful Islam, Concorde Garments Group is a market...

Emmi Berlin,

Emmi Berlin

With the support of the first investors - Finland's Technical Research...

Ritu Oberoi,

Ritu Oberoi

Mumbai-based Forsarees is a socially driven business enterprise, working...

Shujaul Rehman, Garware Technical Fibres

Shujaul Rehman
Garware Technical Fibres

Garware Technical Fibres Ltd (formerly Garware-Wall Ropes Ltd) is a...

Dave Rousse, INDA

Dave Rousse
INDA

INDA, a global association of the nonwoven fabrics industry, has been...

Shlomzion Chen, Seevix

Shlomzion Chen
Seevix

Seevix Material Sciences Ltd, which develops and manufactures synthetic...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Anjali Bhaskar has an experience of 12 years in the fashion industry. She...

Megha Kumari & Jigar Mali, Label Megha & Jigar

Megha Kumari & Jigar Mali
Label Megha & Jigar

New Delhi based label Megha & Jigar blends India's unique handcrafts...

Abhishek Bajaj & Samiksha Bajaj, Samshek

Abhishek Bajaj & Samiksha Bajaj
Samshek

Samshek is a fashion forward tech brand which combines digital experience...

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

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search