IWTO backs case for lifting Woolmark pension liability

Cairo/Brussels, 19/05/2006

The International Wool Textile Organisation (IWTO) is prepared to help persuade the Australian Government to relieve the Australian wool industry of “the impossible burden of the UK pension plan liability”, president Mr. Michael Lempriere said at the opening of the IWTO’s 75th Congress, in Cairo from 9th to 12th of May. A coalition of the main Australian woolgrower bodies is pressing the Australian Government at the moment to clear the way for The Woolmark Company and Australian Wool Innovation (AWI) to merge by urgently resolving the Woolmark’s UK pension-scheme liability. Pledging that IWTO would be “more than happy” to back the campaign, Mr. Lempriere said: “We absolutely support the concept of the amalgamation of the two Australian wool bodies, AWI and Australian Wool Services (which owns The Woolmark Company).” Both bodies are owned by Australian woolgrowers. IWTO, AWI and TWC are jointly spearheading major moves to increase wool’s market share.

At the same Congress, the Retail Club of IWTO fully endorsed recent policy announcements of Australian Wool Innovation (AWI) that emphasised the importance of targeted marketing aimed at demonstrating the luxury aspects of wool in apparel. During the Congress, European, Asian and North American wool companies, organisation and retailers gave their full support for the new direction of Australian investment in wool’s future.


For more information, please contact: Mr. Henrik Kuffner, kuffner@iwto.org