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China deal a superfine opportunity for Primerino
6 Jul 2004
Australian superfine wool producer Primerino is set to close a deal with China's largest largest wool processing company, HengYuanXiang (HYX) China Group. HYX paid $675,000 for a bale of Primerino brand at an auction in Sydney in March. The wool had a thickness of 11.9 microns and was certified as the world's finest. The "Milestone Bale" is now on public show at HYX's Shanghai headquarters.
The founders of Primerino, Rick and Bim Goodrich, have been in negotiations with HYX's chairman for a deal that would offer them global marketing opportunities.
China is currently Australia's largest wool customer and HYX is the largest processor. HYX is now seeking advice from textile experts on how to process such a fine quality of wool as that of the Milestone Bale.
Tradingroom.com.au, 5/7/04.
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