New Fertiliser Works For Bay Of Islands
“Th. PrmT Special Service
AUCKLAND, April 8. The planning in detail of the new fertiliser works near Opua, Bay of Islands, will probably begin this year, according to Mr A. W. IS. Nixon, managing director of the New Zealand Farmers Fertiliser Co, Ltd. The works, which are expected to have an output of at least 100,000 tons, will be operated jointly by the New Zealand Farmers’ Fertiliser Co, Ltd, the Challenge Phosphate Co, Ltd, and Kempthome Prosser and Co. *8 N.z. Drug Co, Ltd, Mr Nixon said, that negotiations had been in progress for some time for the acquisition of the land—a 60-acre block at Tautnarere, near Opua. This had now been acquired from the Maori owners, said Mr Nixon, and the three companies concerned in the venture could proceed with their detailed planning.
Mr Nixon, who said he was not empowered to speak for the parties involved, gave it as his opinion that no time would be lost in getting the works erected and in operation. The flrsj step, he said, would be to form a new company and begin consultations on what form it was to take, and on the design of the building.
“Substantial” Capital He WM not able to say what the capital of the company would be except th indicate that it would be “very substantial.” This was one of the matters that would have /to be determined be manufactured, he said, but the actual potential output would be governed by the size of the acid plant The Kiwi Fertiliser Co, Ltd., which has works at Morrinsville with a capacity of 100,000 tons a year, was capitalised at £750,000 in 1054. Two-thirds of the capital for the Kiwi works was subscribed by the Challenge Phosphate Co., Ltd., which is now negotiating a merger of' interests with the New Zealand Farmers’ Fertiliser Co., Ltd., in a transaction involving more than £l5 million. 1 . Challenge shareholders have accepted * the Farmers* Fertiliser offer, but it requires to be confirmed by an increase in capital of the Farmers* Fertiliser Co., proposals for which will be placed before the shareholders of April 27. r
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Bibliographic details
Press, Volume XCIX, Issue 29178, 12 April 1960, Page 23
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361New Fertiliser Works For Bay Of Islands Press, Volume XCIX, Issue 29178, 12 April 1960, Page 23
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