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Plan for rival wool sales
6 Apr 2004
Two of Australia's biggest players in the wool industry have announced a plan to set up a rival auction system to the existing exchange. Elders' and Landmark's joint venture Australian Wool Handlers will set up in competition with the Australian Wool Exchange.
AWH plans to operate auctions in all of AWEX's major selling centres of Sydney, Melbourne, Fremantle and Newcastle. It will also introduce an Internet-based network for the distribution of sales catalogues, results, wool delivery orders and sale invoices.
Farmers, exporters and brokers said yesterday they welcomed the competition but were concerned about the loss of AWEX throughput, which could have an impact on its other services. But AWH said it doesn't want to take on many AWEX roles and has a "vested interest" in ensuring AWEX "remains afloat and viable".
The West Australian, 6/4/04.
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