Company News New Pye Group Company
(K Z. Press Association) AUCKLAND. May 25. Pye Electronics, Ltd., a holding company for the Pye group of companies in New Zealand, has been formed with a nominal capital of £1.500,000 in £1 shares. Announcing this today, toe chairman and managing director of the group, Mr G. A. Woolier, said that Im fully paid shares had been issued, leaving 500,000 unallocated. Pye Electronics was a public company, he said, but listing of the shares on the stock exchange would not be sought- in the meantime. The group includes Pye. Ltd., which wholly owns Akrad Radio Corporation, Ltd., of Wahi, radio and television manufacturers. Others are G. A. Woolier and Company, Ltd., radio, television and electrical appliance distributors. Allied International Records, Ltd., and Green and Cooper, Ltd., importers and agents for electronic devices, communications equipment and scientific instruments.
Other divisions are Pye Telecommunications, Ltd., Cabinet Industries. Ltd.. Frankton, and Radio Corporation, Ltd., Wellington. The Pye Group in New Zealand is mainly owned by the giant British Electronic Industries group, formed in 1960 by the merger of Pye, Ltd., Cambridge, and E. K. Cole. Ltd.
The New Zealand group now has more than 600 employees.
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Bibliographic details
Press, Volume CI, Issue 29832, 26 May 1962, Page 16
Word Count
199Company News New Pye Group Company Press, Volume CI, Issue 29832, 26 May 1962, Page 16
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