FLETCHERS BUY TUCK BROS.
Purchase Price Not Disclosed (New Zealand Press Association) AUCKLAND, July 1. Fletcher Holdings, Ltd., has completed negotiations for the purchase of the whole of the ordinary share capital of Tuck Brothers, Ltd., of Napier, and its subsidiary companies, it was announced in Auckland today. The purchase considerations, the amount of which was not disclosed, will be paid wholly in cash. Tuck Brothers, Ltd., and Its subsidiaries, operate indigenous and exotic sawmills in the NapierTaupo area along with retail timber yards with dressing facilities at Napier and Taupo. A spokesman for Fletcher Holdings said that the management of Tuck Brothers will in future be under the control of the Fletcher Timber Company. Ltd. The acquisition of Tuck Brothers is part of Fletcher timber’s long-term plans for maintaining future supplies of indigenous and exotic timbers. It will also extend its present areas of operation. Best Annual Report.—The Australian Institute of Management award for the best comnany annual report has been wbn for the second year in succession by Ansett Traosport Industries, Ltd,
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Press, Volume XCIX, Issue 29246, 2 July 1960, Page 16
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174FLETCHERS BUY TUCK BROS. Press, Volume XCIX, Issue 29246, 2 July 1960, Page 16
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