[30 November/ NZ Herald]

The Court of Appeal has dismissed Godfrey Hirst’s appeal against earlier decisions by the Commerce Commission and the High Court to allow the merger of the wool scouring operations of New Zealand Wool Services International and Cavalier Wool Holdings. The Commerce Commission had allowed the merger that would create a monopoly because there was a public benefit in fending off competition from cheaper foreign rivals. Cavalier said in a statement that it welcomed the decision that would capture the efficiencies necessary to keep wool processing in New Zealand in the long term.