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Woolmark
set to acquire controlling interest
in Andar
10th July 2002
The Woolmark Company and Andar,
the New Zealand-based manufacturer
of textile processing equipment,
have announced that they have agreed
terms, subject to due diligence for
The Woolmark Company to acquire 80%
of the share capital of Andar.
Mr. James Irvine the Managing
Director of Andar will retain
shareholding in the Company and will
continue as Managing Director.
Andar is the market leader in the
manufacturing of wool scouring
equipment and also has a diversified
portfolio of technologies in water
treatment systems; carpet
manufacturing and other value-added
wool processing equipment. Andar's
manufacturing expertise in
engineering is fully backed by a
highly developed design and
consulting service.
The Woolmark Company is the
acknowledged global leader in the
promotion of wool through the famous
Woolmark Certification Trademark and
its other brands.
Woolmark has also become a leader in
bringing wool processing innovation
to the global market and has been
seeking a commercial partner to help
exploit its intellectual property in
emerging Woolmark Technology
such as Optim™, Total Easy Care
and waste management systems.
"Andar's excellence in
engineering and specialist knowledge
of wool processing is unique. The
synergy with Woolmark's technical
transfer and marketing skills and
our global network of customers will
create a powerful new force in
delivering new wool technology to
the textile industry" said
David Conners, Managing Director of
Woolmark.
James Irvine notes " We already
market some 10 different
technologies that are the outcome of
former CSIRO/Woolmark R&D
including Sirolan CF/CFB, Siroscour
and a soon to be released High Speed
Backwash. Continued access to new
technologies and the prospect of
integrating the engineering and
development skills of Andar with the
technical expertise, marketing
skills and global reach of The
Woolmark Company will create new
business growth at a challenging
time for the wool industry."
While Andar's recognised dominance
in wool scour engineering will
remain core business, Andar and
Woolmark Technology will work
together to develop and market an
even broader range of value adding
wool processing and textile
machinery.
"In tough times, it is
important to look to the future and
focus on developing innovative
processing solutions that will
ultimately provide added value
products for the consumer. Woolmark
and Andar can develop such solutions
for wool and become a profitable and
dynamic partnership in the global
wool textile industry. This
significant development for our
company will also send a very
positive message to our
shareholders, the Australian
woolgrowers of our commitment to
help ensure a strong future for
their wool."
said David Conners.
For further information
contact:
David Conners, Managing
Director, The Woolmark Company
Tel: +44 1943 886247
Fax: +44 1943 816170
E-Mail: woolmark_technology@wool.com
James Irvine, Managing
Director, Andar Ltd
Tel: +64 3 688 2044
Fax: +64 3 688 2640
E-Mail: j.irvine@andar.co.nz
© The Woolmark Company/Andar July
2002 - www.woolmark.com/www.andar.co.nz
Background
The Woolmark Company is a
private company registered in
Melbourne and a wholly owned
subsidiary of Australian Wool
Services Limited (AWS). AWS is owned
by some 36,000 Australian woolgrower
shareholders. The Woolmark Company
is an international marketing and
technology transfer company with
offices in 19 countries. Its mission
is to deliver Excellence in Wool
through Woolmark Quality Assurance,
retail marketing and the commercial
delivery of product and process
innovation.
The Andar, ADM Group is a
private company located in Timaru,
New Zealand with around 80
employees. Andar is the market
leader in wool scouring equipment
and has diversified into new product
markets such as environmental water
management systems, carpet
technologies and added value sliver
processing.
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Copyright 2002 - JOSE FUSTER, S.A. y/o sus
empresas representadas - All Rights
Reserved |
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