Strong-wools firm

The Wool Board plans to launch a strong-wools company, Wool Interiors, this year and to have it operational by January 1.

It wants half the shares in the new joint venture held in trust for woolgrowers, with the balance held by the industry's research arm, the Wool Research Organisation of New Zealand (Wronz).

Wool Board chairman Bruce Munro says Wool Interiors will be a technology-focused brand marketing company that commercialises Wools of New Zealand's brands, associated in-market technical services and Wronz technologies.

- NZPA