NZ Wool Testing Sold to AU
August 11, 2006
August 11, 2006 - The New Zealand Wool Testing Authority (NZWTA) will become fully Australian owned next month.
Farmer-owned investment company, Wool Equities, has agreed to sell its 50 percent stake to the Australian Wool Testing Authority, which already owns the other half of the business, for AU$2.5 million.
The NZWTA is one of two companies supplying testing and certifying services for the wool industry in New Zealand. The new owner says it will continue to manage the wool testing authority as a separate New Zealand company focusing on the needs of the local industry.
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