Wrightson pulls out of wool venture

As recently as last week the company says it confirmed its involvement with the project at grower meetings in the South Island.

However MD Allan Freeth says it has become clear that the two organisations share different visions.

"Wrightson believes that the majority of growers, like Wrightson, wish to see a commercial solution for their strong wool company.

"Wrightson will continue to build and extend its own strong wool services and invest in the implementation of its integrated fibre management (IFM) strong wool business."

Currently 18% of the company's strong wool is handled under its IFM business, whereby Wrightson facilitates direct supply contracts between wool growing clients and wool processors and end users.

Wrightson says the announcement to pull out of the strong wool project does not affect plans to set up a fine wool joint venture with Merino New Zealand.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Smith leaves Wrightson board
Special Report: Greener Pastures For Rural Stocks
Wrightson looks to bio-tech field for growth