F. WAIMAK. MOVE

Press, Volume CIII, Issue 30603, 20 November 1964, Page 16

F. WAIMAK. MOVE

Plan To Make Blocks Plans by Farrier-Waimak, Ltd., Christchurch shingle and roading contractors, to make concrete blocks are going ahead and the company is waiting for a licence to import a plant of the latest design. Farrier-Waimak’s blockmaking plant will be on seven acres of land already owned by the company. Directors had made extensive investigations before deciding to acquire the plant, shareholders have been told in a circular from the chairman (Mr C. W. Evans). Blocks made by the plant, for which a tentative contract has been entered into, will help satisfy the increasing Christchurch demand on an economical and competitive basis. Two-fold Benefits Benefits from the plant will be two-fold: profits will come from the blocks and from the increased use of material produced by the company’s other plant. “Competition continues to be fierce and unrelenting which means the company cannot expect in the current period to rely too greatly on its normal contracting work for profit,” said Mr Evans. “This makes diversification of vital importance. It is expected that these other activities will produce the profit required to take the place of that being lost because of reduction margins in the industry,” he added.