Last year, WONZ had extended the deadline for its share offer to wool growers until February 25, 2013, to provide every opportunity for growers to take advantage of the offer, which then remained short of the minimum required level of $5 million.

 

Achieving the $5 million threshold would enable WONZ to fully engage in its projects and businesses, including promotion of wool in international markets and establishment of supply chains.

 

WONZ plans to develop strong brand identity for New Zealand wool, while building on existing market connections, Federated Farmers said.

 

WONZ expected to raise $10 million for starting a company for benefitting wool growers in New Zealand, but it has achieved only half of the target so far.