Australia's sole wool top and scouring plant to cease operation (Australia)

Australia’s sole surviving wool top and scouring plant is to cease its operations at Dubbo in Western NSW.

As revealed by Fletcher International, none of the 40 employees would be laid off, as each one of them would be occupied in other production activities.

This shut down is mainly attributed to high cost of production, strong Australian dollar and the country’s inability to withstand the competition against global processing markets.

Irrespective of the place of production or value addition, the company’s products are not being able to stand competition against the other countries, due to their high prices. Rather, it costs less to cart a load of wool from Sydney to China, then to cart it from Sydney to Dubbo.

source:Fibre2fashion News Desk-India