Courtaulds Cut Output
(N.Z. Press Assn.—Copyright) SYDNEY, Oct. 12. Production of Courtaulds (Australia), Ltd., has now been reduced to half capacity after a further deterioration, the annual meeting was told today. The chairman, Mr R. J. Vicars, said this had created a further labour surplus and brought about short-tiihe working. There was -no apparent indication, of an early improvement in the motor and associated industries, including tyre manufacture. ' On the textile side the threat from cheap acetate yam imports had created’a market instability. Mr Vicars told shareholders this had prevented the company from securing the benefit from the improved state of man-made fibre piece goods industries, derived from their recent increase in protection. The acetate yarn sales in recent months had been affected by import® at what directors believed to be “dumping” prices, he added. PROPERTY SOLD Livingston* and Company have sold the property No. 138 Petrie street, Shirley, advertised by them for public auction. —Advt
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Bibliographic details
Press, Volume C, Issue 29643, 13 October 1961, Page 19
Word Count
156Courtaulds Cut Output Press, Volume C, Issue 29643, 13 October 1961, Page 19
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