FORD EXPANDS IN AUSTRALIA

Press, Volume CII, Issue 30126, 9 May 1963, Page 19

FORD EXPANDS IN AUSTRALIA

£l3m To Be Spent (N.Z.P. A.-Reuter—Copyright)

MELBOURNE, May 8. The Ford Company of Australia has announced a £ 13.5 m expansion programme. Most of the money will be spent on the Broadmeadows plant, on the outskirts of Melbourne, and the plant at Geelong. The company’s managing director (Mr J. G. Mclntyre) said yesterday that £9im would be spent on the Geelong plant, £3lm on the Broadmeadows factory and film on the plant in Brisbane.

Mr Mclntyre said the programme would raise the output of Ford Falcon and Ford Cortina cars to 440 a day, without prejudicing the production of other vehicles. The locally manufactured content of the Falcon and Cortina would be increased at the same time. At present it is about 90 per cent. When the programme is completed, it would bring the company’s total investment in new plants and facilities in Australia to £s4m since 1958.

Testro Move Falls.—The chairman and managing director of Testro Bros. Consolidated LtdMr R. C. Testro, and Testro Bros. Pty Ltd- have failed in a Victorian Supreme Court move to be allowed legal representation at the State Government investigation of the Testro group. The Victorian Executive Council appointed Mr J. B. Tait. Q.C., to investigate the affairs of Testro Brothers Consolidated Ltd.. Testro Print Pty. Ltd.. Testro Bros. Pty. Ltd., Suncoast Develonpnent Pty. Ltd., and Surfers' Paradise Development Corporation Pty, Ltd., on January 31.

N.Z. Industrial Gases.—The directors have declared unchanged;, interim dividends of 2i per cent, preference and 31 per cent, ordinary, payable ex June 1. Total ordinary dividend last year was 8 per cent. —(P.A.)

Maple Profit.— The group profit of Maple Furnishing Companies, Ltd-, Auckland, jumped by £7831, or 16.9 per cent, to a record £54,281 in the year ended March 31. The result represents an earning rate of 15.2 per cent on steady ordinary capital (14.4 per cent last year).