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Article: Growers reject wool board

Article from:
The Press
Article date:
August 22, 2000
Author:
Copyright

Wool growers have voted overwhelmingly in favour of restructuring the wool industry as recommended in the McKinsey Report.

More than 91 per cent of growers supported the report, which recommends dissolving the New Zealand Wool Board, reducing grower levies from 5 per cent to 1 per cent, and setting up commercial companies to market fine and strong wools.

The assets of Wools of New Zealand and Merino New Zealand will be used to establish the commercial companies, and growers will have the option of investing their share of the reserves in the companies or taking the cash.

Grower-funded research and development will continue with the remaining 1 per cent levy.

The report said mid-micron ...

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