Godfrey Hirst ends fight to overturn approval of wool scour monopoly

Thu, 01 Dec 2016

By Jonathan Underhill Dec. 2 (BusinessDesk) - Godfrey Hirst says it will abandon its fight to overturn the regulatory approval for a wool scouring monopoly in New Zealand involving NZX-listed rival Cavalier, despite judging it a "major blow to the wool industry and competition generally in New Zealand". The Australian-owned carpet maker this week lost a bid to overturn plans to consolidate ownership of New Zealand's remaining scouring plants when the Court of Appeal dismissed its appeal against earlier decisions by the Commerce Commission...

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