‘Business as Usual’ for Wool Partners International

18 February 2011

Wool Partners International (WPI) and PGG Wrightson Limited (PGW) have today announced that it is business as usual for WPI in the aftermath of the Wool Partners Co-operative capital raising not proceeding to a successful outcome.

PGW Managing Director, George Gould, said that he would be meeting with the WPI management and Board in the next few days to explore all of the options now available to WPI.

WPI Chairperson, Theresa Gattung, said that this is potentially an exciting crossroads for WPI, with one of the options available being to work with the very significant grower commitment shown in the recent capital raise.

“Thousands of growers have pledged significant capital to secure grower participation in the strong wool industry and together with PGW, WPI look forward to working with that grower contingent,” said Ms Gattung.

WPI will keep its growers in the market informed over the next few days as further decisions are made.

“PGW is committed to seeing WPI reach its full potential and we look forward to playing a part in that,” said Mr Gould.

ENDS

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