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High exchange rate cited as factor in closure

February 1, 2013 - 6:21pm

Hot on the heels of job losses at Hillside, one of Oamaru's largest employers informed staff yesterday it will close its doors.

Summit Wool Spinners cited the high exchange rate as a contributing factor to the closure.

But National MP Michael Woodhouse says the Government's response is to make sure policy settings will give employers more confidence to grow their businesses.

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