Wool growers asked to put money into another international marketing venture

Thu, 01 Nov 2012

Nov. 1 (BusinessDesk) - Strong wool growers are being asked for up to $10 million to step up the scope of international marketing firm Wools of New Zealand. Wools of New Zealand has been funded by the wool market development fee since 2010 and wants to raise $10 million by issuing shares to wool growers at $1 apiece. The marketing company was spun out of PGG Wrightson into a grower's trust last year and is the latest attempt to build a central promotional body for the wool sector. The Christchurch-based company needs to raise at least $5...

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