Demand drop behind 3Oceans cuts

Western Australia’s eighth biggest winemaker, 3 Oceans Wine Company has laid-off non-essential staff as it reconsiders its strategic direction in the face of falling demand from its key market in China. Owned by Hebei Qianjin Steel Group, which is controlled by Xibo Ma, 3Oceans has retained its winemaking team to see it through the 2016 vintage and keep the cellar door open at its Bussell Highway headquarters near Margaret River.