English Firm Buys N.Z. “Know-how”

Press, Volume C, Issue 29466, 18 March 1961, Page 4

English Firm Buys N.Z. “Know-how”

Cranes and forklifts designed by the Christchurch engineering firm of C. W. F. Hamilton and Co., Ltd., are to be made overseas under licence by the English firm of Robert Hudson, Ltd. Robert Hudson, Ltd., is an old-established manufacturer of light railway and other equipment at Leeds, with overseas connexions in several countries. The agree-

ment with C. W. F- Hamilton was signed on behalf of Hudsons by Mr J. M. Oddie. sales director. Mr Oddie told the Christchurch firm he expected Hudsons would make about 100 cranes or forklifts in the first year of the agreement. The values of this production would be about £lBO.OOO. Cranes and forklifts have been produced by Hamiltons for about 10 years. The firm has recently expanded their production to meet the growing demand for materials handling equipment. Two other Hamilton products are already being produced overseas under licence —the Hamilton - designed loader-dozer (United Kingdom and U.S.) and the Hamilton jet turbo-craft (U.K., Canada. U.S., and Australia). Hume Ind. (F.E.) Lift Net Profit Hume Industries (Far East), Ltd., concrete and steel pipe makers, lifted net profit by by £34,197 to £124,109 for the year ended December 31 Ordinary dividend is steady at 13 per cent, (gross) for the year. After deducting 40 per cent. Malayan tax the amount payable to the shareholders is 7.8 per cent. Result is after £76,426 for tax (up £13.774 and depreciation £80,400 (up £8845). Both sales and trading profits increased, directors report. Larke Consol. Hit By Govt. Curbs Government restrictions have affected manufacturing and merchandising of Larke Consolidated Industries, Ltd., the managing director (Mr G. Allman) reports. These had resulted in sudden falls in turnover of some of the group companies, he said. It is not possible to offset such falls against reduction in costs, the report says. The second half of the year is likely to be “most difficult. The export market for steel merchant strip has been developed in New Zealand. Profit for the period was sufficient to cover a steady 5 per cent, interim dividend Last year’s final was also 5 per cent.