Australian wool brokers to merge
17/02/2011
Estimates are that these two players will have a combined volume of 250,000 bales of wool, around 13% of Australia’s total output.
Elders and Landmark are the numbers one and two players respectively.
Quality Wool managing director, Mark Dyson, said he would become a major shareholder and a director of AWN and described the deal as a merger rather than a takeover. He added that both companies would continue trading under their existing names.
The merger comes only weeks after AWN managing director, John Colley, bought out a 55% stake in his company that nine Italian processors, including G Schneider, Ermenegildo Zegna and Loro Piana, had held.
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