Wool Equities NZ Ltd. is closing parts of its technology transfer business, known as Tectra, due to funding problems. Tectra had been set up to turn scientific research into economic farming activities. Its closure follows further upheavals in the New Zealand wool industry after the break-up of the Wool Board. Wool Equities is continuing to carry out what it hopes will be other groundbreaking new wool technologies, and is listed on the New Zealand Stock Exchange. The firm and its Tectra division were formerly part of the Wool Board, which was wound up following a vote by farmers to discontinue funding its operations. Tectra is also negotiating the sale of its shearing and wool harvesting division.
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