Biggest Australian Wool Buyer to Set up Shop in China

Biggest Australian Wool Buyer to Set up Shop in China

The Italian-based Schneider group, Australia?s biggest buyer of fine wool, will open a top-making mill in China in early 2004 to capitalize on China?s cheaper production costs.

?I don?t think any player in this industry can ignore China,? said Schneider?s Don Belgre in an Australian Broadcasting Corporation interview. ?We are actually going to increase our turnover as far as buying Australian greasy wool is concerned, so for the Australian wool grower that?s a positive.?

China currently purchases about 40 percent of Australia?s annual wool production. Belgre says Schneider plans on purchasing one-third more Australian wool once the mill is up and running.

Staff contact: Rita Kourlis Samuelson, ext. 29

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