Successori Reda, the Italian wool mill, has signed a new five-year contract with the New Zealand Merino Company (NZM), worth a total of $45 million. The Italian textile company says it's the longest contract of this kind for NZM. It is intended to counter the price swings of the open market while guaranteeing the supply of high-quality merino wool over a long period of time. Besides supplying wool to third parties, Reda still had its own brand of merino sports clothing, Rewoolution.
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