New Zealand - Wool Services International wants to join scouring plan

Wool Services International (WSI) wants to buy some of the plant and equipment to be sold as part of a planned reduction of wool scouring factories.



The Godfrey Hirst wool scouring plant in Invercargill will close, under a plan revealed by carpet maker Cavalier Corporation yesterday.



Cavalier owns 92.5 percent of Hawke's Bay Woolscourers and Canterbury Woolscourers, while David Ferrier owns the rest.



Mr Ferrier planned to buy Godfrey Hirst's scouring business in New Zealand, and close the Invercargill plant and half a unit in Napier, according to Cavalier.



The plan, subject to Commerce Commission approval, included the formation of a joint venture with Cavalier's wool scouring business.



WSI said it was an important step forward for the wool industry, which had seen a substantial reduction in sheep numbers reduce the wool available, and subject to regulatory approvals it would purchase some of the items to be sold.



WSI's plants near Hastings and Christchurch would be available for commission wool scouring, the company said.



Source: The National Business Review