Wool Impact Ltd is a collaboration between the Government and sector partners, following recommendations last year by the Strong Wool Action Group (Swag).
The industry body launched operations earlier this month, with the support of $ 4.5 million from the Ministry of Primary Industries’ Sustainable Food and Fiber Future Fund, and industry groups covering $ 6.9 million.
This includes a healthy injection by WoolWorks, the country’s only wool sanding machine, which handles 76% of all New Zealand wool from Timaru and its Hawke’s Bay sites.
WoolWorks shareholder Maja Sliwinski said the company’s investment shows its confidence and commitment in the wool sector and the future.
“There is a lot of hard work ahead, but we like what we see in Wool Impact Ltd’s three-year work program. We are confident that it will help steer the wool industry back on a more sustainable and profitable path.”
Andy Caughey, CEO of Swag, said WoolWorks’ investment would help support the vital activities of the new industry body to spur “transformation change” over the next three years.
The body will provide a unified voice for the strong wool industry, as well as services on data, training insights and standards.
“[It] will also support commercial participants to increase the demand for wool-rich products both in New Zealand and overseas and to increase the volume and value of New Zealand strong wool. “
WoolWorks employs 150 people and washes more than 100,000,000 fatty kilograms of wool each year, ranging from super-fine merino to cross-bred.