Slow progress on wool merger

Meetings between the leaders of two organisations promoting strong-wool marketing options have so far proved fruitless.

A call for the groups, Growerco and the newly named Onewool, to talk to each other about merging was made by woolgrowers attending the Wool Board's October annual meeting.

Growerco director Edwyn Kight said meetings had been held but Onewool was still developing its proposal and it was hard to make progress.

Onewool chairwoman Mavis Mullins said she did not think Growerco offered a solution to the strong-wool industry.

Growerco has reported solid support for its proposal from more than 800 growers at meetings last month. It is asking growers to pledge to supply 50,000 tonnes of wool and says it has indications of support from 25 per cent of all growers, but has delayed producing a prospectus until it has enough wool committed.

Onewool is made up of the 380-grower East Coast Wool Cooperative, the Federation of Maori Authorities, Wrightson and carpet-maker Feltex.

- NZPA