ROBERT HOLT

Press, Volume C, Issue 29666, 9 November 1961, Page 23

ROBERT HOLT

Take-over Of Wairoa Firm

(IV.Z. Press Association) NAPIER, Nov. 8. The amalgamation of Robert Holt and Sons, Ltd., Napier, timber merchants, and Pittar. Shortt and Barker, Ltd., Wairoa, was announced today. The purchase of the tanalising plant at Gisborne from Hickson’s Timber Impregnation Company (N.Z.), Ltd., was also announced by the chairman of directors of Robert Holt (Mr H. R. Holt). News of the merger was contained in a joint statement by Mr Holt and the manager of Pittar, Shortt and Barker, Ltd., Mr R. E. Shortt). The statement said that the new Wairoa company would be known as Robert Holt and Sons (Wairoa), Ltd. It would be managed by Mr Shortt, who would also be a director. The new company has plans for an extensive programme of expansion and development. Robert Holt bought the total share capital of £3OOO of the Wairoa firm, and in satisfaction of the purchase will issue 13,454 shares at 8s each and pay the balance in cash. Chevron Hilton Hotel.—lntercontinental Hotel Corporation has made a preliminary investigation into the possible purchase of Sydney’s Chevron Hilton Hotel, a spokesman for the corporation said in New York. The spokesman emphasised chat no offer had been made, nor were negotiations under way.—(NX.