AUSTRALIAN CHEMICAL

Press, Volume CI, Issue 29776, 20 March 1962, Page 19

AUSTRALIAN CHEMICAL

Improvement In Trading

Lower sales and smaller profit margins reduced earnings of Australian Chemical Holdings, Ltd., for the halfyear ended December 31, compared with the same period last year, directors report However, since December. 1961, trading conditions have improved considerably. The New Zealand subsidiaries returned excellent results. The recently opened Auckland chemical plant will assist in a continuation of profitable operation. Springvale Factory Benefits are accruing from the recently opened chemical factory at Springvale, Victoria, which supplies the synthetic rubber and paper industry. In the engineering division a new plant is being completed. and further products have been added to the already widely diversified range. The directors have declared creased sales and profits. This should result in ina steady interim dividend of 61 per cent. This will absorb £155.771 (up £38.755) on higher ordinary capital. Sunbeam Acquiiition.—Sunbeam Corporation (New Zealand), Ltd., Auckland, has acquired Pallo Engineering. Ltd., Wellington, and it* associate companies. Sunbeam makes electrical appliances and pastoral machinery while Pallo Engineering i* a manufacturer and wholesaler of petrol and oil pumps, domestic washing machines and wringers, and builders’ hardware. The terms of the deal have not been disclosed.