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Consortium revives New Zealand wool spinning plant

09
May '12
Qualityarns NZ Ltd , a producer of wool knitting and weaving yarns has been revived, due to efforts of a consortium of Wool Equities and a few knitting companies.

The wool spinner stopped its plant late last year, blaming high compliance costs and competition from imported yarns.

Wool Equities, which is body owned by farmers has a 77 percent stake in the consortium and has invested NZ $300,000 to restart the unit.

The spinning plant is expected to restart by the end of this week.

Fibre2fashion News Desk - India


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