Milton-based Bruce Woollen Mill Ltd. has become operational again after the erstwhile QualitYarns owned mill was purchased by a consortium led by Christchurch-based Wool Equities Ltd.
The woolen mill specializes in knitting and weaving yarns and the new owners are confident of the mill surviving in the current troubling times for the NZ wool processing industry.
Cliff Heath, Chairperson of Wool Equities that owns a 77 percent stake in the consortium, said the mill has already bagged three months worth of orders.
He said the output of the mill will largely go into making of home textiles and apparels, and hence it should not be affected by the slowdown currently experienced by carpet processors.
He added that there is good demand for quality New Zealand made woolen products and the country's wool garment industry is also performing well.
Bruce Woollen Mill was established as Bruce Wollen Manufacturing Company in 1897, to scour, card, spin and weave wool into blankets, rugs and fabrics. It was acquired by Alliance Textiles in 1962 and was later bought by QualitYarns Ltd., which stopped processing activities at the mill last year.
Fibre2fashion News Desk - India