Wool Equities in talks with Primary Wool Cooperative about uniting

Wool Equities, the South Island based company which markets and manufactures wool for its grower shareholders, is in talks with North Island-based farmer-owned Primary Wool Cooperative about the benefits of uniting.

The nation's largest wool cooperative, Palmerston North-based Primary Wool Cooperative, was formed in 2002 from the merger of Dannevirke-based East Coast Wool Cooperative and the wool division of Christchurch-based Combined Rural Traders.

Milton, Otago-based Wool Equities last year unsuccessfully tried to raise funds from its shareholders to buy scourer New Zealand Wool Services International. Shares in Wool Equities, which trade on the stock exchange's NZAX index for smaller companies, last changed hands at 12 cents, having advanced 9.1 percent this year.

BusinessDesk.co.nz

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