HUGE MERGER.

Auckland Star, Volume LXVI, Issue 43, 20 February 1935, Page 7

HUGE MERGER.

Biggest Coal Combine Formed In Britain. £7,000,000 CAPITAL. (British Official Wireless.) (Received 9.30 a.m.) RUGBY, February 19. A scheme by which two large colliery companies, the Powell-Duffryn Steam Coal Co., Ltd., and* the Welsh Associated Collieries, Ltd., are to be amalgamated, has been completed. The combined companies will form the largest coal-producing unit in the United Kingdom. The present annual output of the companies is more than 11,000,000 tons.

The new company has been authorised share and loan capital not exceeding £7,000,000. The selling organisations of the two companies, which extends over a great part of the world, will be transferred to the amalgamated undertaking.

AID COAL INDUSTRY. TRADE PACT WITH POLAND. (British Official Wireless.) (Received 0.30 a.m.) RUGBY, February 19. The Polish Minister of Commerce has arrived in London on a visit connected with the commercial agreement with Britain which is about to be concluded, and to visit the British Industries Fair. At a luncheon in connection with the opening of the fair the President of the Board of Trade, Mr. Walter Runciman, said it was hoped to initial the new agreement with Poland on Wednesday. This would bring an increased demand for British, especially Welsh, coal to the extent of about 1,000,000 tons.