Cavalier to sell scouring interest, focus on carpets

Wed, 26 Sep 2018

By Gavin Evans Sept. 27 (BusinessDesk) - Cavalier Corp is close to selling its stake in New Zealand’s only wool scourer as part of a plan to reduce debt and free up capital to invest in carpet manufacturing. The firm owns 27.5 percent of Cavalier Wool Holdings, alongside global giant Lempriere Wool, Accident Compensation Corp and Direct Capital. The scourer, known as CWH, operates plants in Napier and Timaru with a combined capacity of 100 million kilograms annually. Cavalier said it will receive about $13.5 million in cash from the sa...

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