Australia's Lempriere locks up 75 percent of NZ Wool Services, scuttling scouring monopoly

Wed, 19 Sep 2012

By Paul McBeth Sept. 19 (BusinessDesk) - Australian wool merchant and processor Lempriere Holdings has locked up three-quarters of New Zealand Wool Services International, scuttling a local joint venture’s plan to create a national wool scouring monopoly. The Melbourne-based company bought 64 percent of the New Zealand scourer out of receivership and entered into a lock-up agreement with WSI managing director Michael Dwyer, four senior employees and a retired employee for a further 11 percent, WSI said in a statement. The Australian compa...

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