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Woolmark burdens worsen
1 Dec 2004
Australian Wool Services, owner of the Woolmark logo has appealed to the federal government for financial help to offset potentially crippling liabilities inherited from its statutory predecessor, including millions in unfunded retirement benefits. AWS managing director Peter Wilkinson said the company's unfunded exposure was $27 million, and mostly in relation to a British pension fund associated with the former International Wool Secretariat. Wilkinson warned that the AWS business model was unworkable, given its limited access to funds and the legacy of various financial burdens. He said both had eroded the value of the Woolmark logo.
West Australian, 01/12/04
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