5 Feb 2014

Wool merger exploratory talks

12:47 pm on 5 February 2014

Exploratory talks are underway on a possible merger between two farmer-owned wool bodies.

They are the Primary Wool Co-operative and the investment company Wool Equities.

Primary Wool is on a roll after announcing the biggest profit in its history and seeing a steady increase in its membership, with more than 1100 farmers now in the co-op.

Wool Equities is struggling financially. It operates the Bruce Woollen Mill at Milton in South Otago, which was rescued from closure several years ago, as well as a small weaving plant in Palmerston North.