British Wool Board Welcomes Review

Bradford, England, July 31, 2006--The Wool Board said it has welcomed the announcement that DEFRA is to carry out a review of its structure and operation as both appropriate and timely. This gives the Board the opportunity to debate the way forward for wool marketing in the UK. Chairman Frank Langrish commented “We have regular meetings with our stakeholders--producers, wool merchants and the textile industry. These meetings help determine the way the Board operates. Of course, times change and this review gives the Board and its stakeholders the opportunity to consider whether any modifications are necessary.” He continued. “The Board is now the largest producer organisation in Britain. Since the last detailed review in 1997, we have made significant changes to adapt to circumstances largely outside our control, such as the 20% reduction in clip following FMD, increasing bio-security legislation, the weakness of the US$ against sterling and the reduction in European textile manufacturing and processing.” With prices worldwide falling to low levels, we continue to take steps to both cut costs and make investments to return the best possible value to producers.” The BWMB has invested in R&D, shearing training, wool handling and testing facilities. Through promotion it has The Wool Board has said it welcomed the announcement that DEFRA is to carry out a review of its structure and operation as both appropriate and timely. This gives the Board the opportunity to debate the way forward for wool marketing in the UK. Chairman Frank Langrish commented “We have regular meetings with our stakeholders - producers, wool merchants and the textile industry. These meetings help determine the way the Board operates. Of course, times change and this review gives the Board and its stakeholders the opportunity to consider whether any modifications are necessary.” He continued. “The Board is now the largest producer organisation in Britain. Since the last detailed review in 1997, we have made significant changes to adapt to circumstances largely outside our control, such as the 20% reduction in clip following FMD, increasing bio-security legislation, the weakness of the US$ against sterling and the reduction in European textile manufacturing and processing.” With prices worldwide falling to low levels, we continue to take steps to both cut costs and make investments to return the best possible value to producers.” The BWMB has invested in R&D, shearing training, wool handling and testing facilities. Through promotion it has consistently worked to promote the benefits and characteristics of British Wool in the UK, in key niche areas in Japan and the USA, as well as developing new markets.