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Merger of two NZ scouring companies one step closer

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The New Zealand Commerce Commission has issued yet another ‘Draft Determination’ on the merger of Cavalier Woolscourers and New Zealand Wool Services International the two remaining scouring companies in New Zealand.

The Commission again stated that it is likely that it will approve the merger. According to Nigel Hales, CEO Cavalier Woolscourers ‘the fact that they have issued a second draft determination is unpresidented as we understand. But shows the level of thoroughness that they are going to complete their investigation.

‘This is the fifth time that the Commerce Commission or High Court has stated that it will approve the merger. While we need to wait until 13th November until they release their final decision, it is looking more likely that the merger will proceed.’

Mr Hales added that ‘we will proceed with the planned merger in the way that has been described throughout the Commerce Commission process. It is still our intention to have the Kaputone plant moved to the Timaru site in-time of the new wool processing season in mid-January.

‘We are currently in a six month testing scheme to measure our COD discharge levels at Awatoto as we are aiming to comply with the EU Eco Flower criterion for woolscouring by mid-January 2016. At this halfway point, we are on-track to gain accreditation. However we are adopting a cautious approach as the body that controls EU Eco Flower in the UK is changing in late December’.

 

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