New board for wool trading and processing group

STANDARD Wool, the Bradford-headquartered wool trading and processing group, has appointed three new directors to its group board.

Paul Hughes Jnr has been promoted to group trading director and Mark Andrews has been promoted to production director. Ian Marwood joins the board as non-executive director.

With turnover in excess of £50m, the Standard Wool group is privately owned by the Hughes family following a management buyout in 2005.

In addition to its trading and processing facilities in the UK, the group also has operations in Chile, New Zealand and China. Over recent years the business has enjoyed strong growth in revenues, secured major financing packages from PNC Business Credit and HSBC, and in 2014 acquired the freehold of its main production facility in Dewsbury.

Paul Hughes Snr, group managing director, said: “Standard Wool has a strong reputation around the world as an independently owned and run business, with unrivalled expertise in the sourcing, processing and blending of high quality wools. We are proud of our customer service ethos throughout the business and these appointments reflect the development of our team over a number of years.

“Our new board structure is part of our plans to further develop the business, including investment in our processing facilities and new technology, whilst retaining our independent status.

“Paul and Mark have made significant contributions to the business and their promotions are well deserved. Ian Marwood acted as my adviser on the management buyout and since that time has continued to be a sounding board for me on a range of issues. His assistance to the wider board will be invaluable.”

Existing group finance director, Nicholas Maddams, completes the board line up.

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