REICHHOLD LINK WITH U.S. FIRM

Press, Volume XCIX, Issue 29178, 12 April 1960, Page 23

REICHHOLD LINK WITH U.S. FIRM

Reichhold Chemical Industries (Australia), Ltd., has joined the giant Hercules Powder Company, U.S.A., in an Australian venture. The two companies will form Hercules Powder Company (Australia), Pty., Ltd. The venture is to manufacture resin derivatives and other industrial chemicals for sale in Australia and New Zealand. Reichhold’s part in the venture will be taken by A. C. Hatrick, Pty., Ltd—a wholly owned subsidiary which has represented Hercules for 30 years. Reichhold is an offshoot of Reichhold Chemicals, Inc., U.S.A, —the world’s largest producer of synthetic resins—and Hercules is a leading maker of resin and other naval stores products in the United States. It ranks in the top 150 United States companies with annual sales totalling more than 300 million dollars. Banno Trading.—The Banno Trading Company, New Zealand, Ltd., which is negotiating to buy from the New Zealand Government 50,000 tons of Paparoa coal a year, has been registered in Wellington as a private company. There are four shareholders and the capital is £lOOO. The company’s managing director 11 Mr F. C. Foley, Wellington, who put up £250. Other shareholders. who also Invested £250 In the tan, are Mr Y. Banno, Osaka, Japan. Mr 3. Tanlguchi. Wellington, and Mr M. Takagi, Dunedin. The objects of the company are tan* porters, exporters and incidental.