AWI/AWS merger delayed
03/04/2007
The merger of Australian Wool Services (AWS) and Australian Wool Innovation (AWI) has been delayed following a statement form Australian Minister for Agriculture, Peter McGauran, that the decision on government support for the integration of the two companies has not yet been made. The AWI/AWS Integration Steering Committee put a proposal to the minister in January, asking for a response by the end of March.
Commenting on the delay, AWS chairman, Barry Walker, said, “In December we reached agreement with the IWS Pension Fund Trustees which cleared the way on the largest hurdle, the IWS Pension Fund liability,” adding, “Since then we have provided all the information that the minister and his department have sought and answered every question. However, analysis of the issues has been more complex and more time consuming than the minister’s staff could have assumed and the proposal remains with the minister for his decision.”
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