INDEPENDENT NEWS

NZ Yarn finalises acquisition Christchurch Yarns

Published: Fri 21 Nov 2014 12:33 PM
21 November 2014
NZ Yarn finalises acquisition Christchurch Yarns
NZ Yarn has today announced the acquisition of Christchurch Yarns has been finalised. The business will trade as NZ Yarn Limited effective immediately.
Elders Primary Wool (EPW) has secured a majority shareholding of approximately 58 per cent in the acquiring business NZ Yarn. The remaining 42 per cent shareholding is held by independent investors and growers.
Managing Director Glenn Wilcock will continue on in his role with NZ Yarn and Ross Callon has been appointed as Executive Chairman to oversee the strategic and financial direction of the business for the immediate future. All existing staff will be retained in the business with shared services being supplied by the EPW business.
“The appointment of Ross Callon will ensure we have a robust business platform in place. Our focus moving forward is on innovation, quality and manufacturing growth together with an integrated wool supply chain and strong financial management” commented NZ Yarn Director Stu Chapman.
“We have been meeting with local and international manufacturers and have strong commitments from them going into 2015. The success of NZ Yarn will greatly assist in growth opportunities for the New Zealand wool industry” commented Chapman.
“The commercial opportunities the acquisition brings are substantial for EPW, the Just Shorn programme and New Zealand wool generally.”
ENDS

Next in Business, Science, and Tech

Counterfeit Banknotes - Businesses Urged To Be Aware
By: New Zealand Police
Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening
By: Frog Recruitment
Tourism Employers Welcome Back Working Holidaymakers
By: Tourism Industry Aotearoa
Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans
By: Commerce Commission
Air New Zealand Celebrates Busiest Day Since COVID-19
By: Air New Zealand
Prices For Transport And Housing Rise In March 2021 Quarter
By: Statistics New Zealand
New Report Shows Impact Of Demands On Land In New Zealand
By: Statistics New Zealand
Government Report Shows Need For Urgent Protection Of Land For Food Production, HortNZ Says
By: Horticulture NZ
View as: DESKTOP | MOBILE © Scoop Media