N.Z. Paper Mills

Press, Volume C, Issue 29702, 21 December 1961, Page 19

N.Z. Paper Mills

The directors of New Zealand Paper Mills, Ltd, state that operations of the company during the first half of the current year continued to be satisfactory, and it was decided to pay an interim dividend of 3$ per cent. The order position is satisfactory and it is expected that mill production over the year will exceed that of the previous year. Import restrictions have brought about a demand for a wider range of products and some interesting possibilities are currently being investigated. Good progress has been made on the renovation and replacement programme at the mill, much of which has now passed the design stage. The shortage of skilled paper-making personnel has restricted operations to some degree, but steps are being taken to recruit skilled workers in Australia and Britain. Nafco Issue.—North Auckland Farmers’ Co-operative, Ltd, is issuing 200,000 ordinary 5s shares at par op the basis of one each £1 preference share held and one for each four ordinary 5s shares held. The issue will increase paid ordinary capital by £50.000 to £176,685. Preference capital is £73,315. Pioneer Concrete Pioneer Concrete Services. Ltd , Sydney, is expanding its activttiee io Hong Kong. It has formed a subsidiary in the colony and it will begin supplying readymixed concrete in the next two weeks. Formation of the company was financed by the placement of 100.000 5c shares at 12s 3d premium. Directors say that the volume of new construction work in the colony is comparable with that of Sydney. Gold Dredge Return. The dredge Kantere. operated by Gold Mtnea at New Zealand. Ltd, at the Tereraakau settlement. tn the hatf-mcntti ended December 19 returned 381 ouzacee of buttfon foom 193,000 vends at material excavated X". Bl hour*.—(T.O.OA)