Announcement
MKTUPDTE: CAV: Cavalier Supports Wool Industry Project Action Group Vision
12:03pm
CAV
10/07/2020 12:03
MKTUPDTE
NOT PRICE SENSITIVE
REL: 1203 HRS Cavalier Corporation Limited
MKTUPDTE: CAV: Cavalier Supports Wool Industry Project Action Group Vision
New Zealand carpet and wool company, Cavalier Corporation Limited (CAV: NZX)
is supportive of the vision outlined in the Vision and Action report released
today by the Wool Industry Project Action Group (PAG).
Established to be a catalyst for change in the New Zealand wool sector,
particularly strong wool, the PAG report identifies the opportunity for New
Zealand's high-quality strong wool as the preferred choice for the world's
leading fabric, carpet and materials companies.
Cavalier is committed to supporting the drive for positive change in the
industry. With more than 50 years' experience in the flooring sector,
Cavalier believes that, for design, innovation and performance on the floor,
New Zealand wool is the best fibre available, as well as being 100%
biodegradable, renewable and sustainable.
In particular, Cavalier supports the call for "government and all New
Zealanders to show greater leadership by incorporating criteria requiring
sustainable and environmentally friendly products into purchasing decisions."
Cavalier's CEO, Paul Alston, commented: "Who better to lead the change to
more sustainable decision making than the New Zealand Government? A simple
opportunity would be replacing worn out synthetic carpets in Housing NZ homes
with wool carpets, providing warmth, comfort and fire retardant qualities
while supporting the New Zealand wool sector. While the quantity of wool
involved is modest in the context of the overall New Zealand strong wool
clip, it would be another step in the Government's drive for a better New
Zealand for future generations."
Consumers around the world are becoming increasingly aware of the negative
impacts of synthetic fibres - particularly plastic pollution and the use of
potentially harmful chemicals. In line with views expressed by participants
from across the industry, Cavalier is seeing increasing awareness of, and
demand from environmentally and socially conscious consumers for, natural,
sustainable fibres.
The company is moving to focus on wool and natural fibres as part of its goal
to become a global leader in designing and creating desirable and sustainable
interiors. This transformation will take time and investment, however
Cavalier has the infrastructure, capabilities and expertise in place to
effectively manage the pivot and benefit from evolving consumer trends.
Paul Alston commented: "Wool is the forgotten fibre. The world is changing,
and synthetic fibres have had their day. With new thinking and the right
focus, strong wool will enjoy something of a renaissance."
10 July 2020
ENDS
For further information please contact:
Paul Alston
Chief Executive Officer
palston@cavbrem.co.nz
+64 21 918 033
+64 9 277 1135
Jackie Ellis
Media and Investor Relations
Jackie@ellisandco.co.nz
+64 27 246 2505
End CA:00356087 For:CAV Type:MKTUPDTE Time:2020-07-10 12:03:52
Click here
to view related attachments.
