CHANGES BY NEECO

Press, Volume CIV, Issue 30715, 2 April 1965, Page 16

CHANGES BY NEECO

Activities Combined

The warehousing, wholesaling and engineering sales activities of the National Electric and Engineering Company, Ltd., has been incorporated in a new company, Neeco Wholesalers, Ltd. Announcing this, the chairman of directors (Mr lan Matheson) said the parent company would become a nontrading company which will collect dividends from its three subsidiary companies, Neeco Wholesalers, Ltd., Speedway Products, Ltd., and N.Z. Insulators, Ltd. The reorganisation would not affect the relationship between the parent company and its shareholders. The moves would rationalise the present organisation and prepare it for future expansion in the electrical industry.

R. Holt Buys Sawmillers

(N.Z. Press Association)

WELLINGTON, April 1. All the share capital of Gardner and Yeoman, Ltd., a sawmilling and timber company with a tanalising plant at Pahiatua, has been bought by Robert Holt and Sons, Napier, builders, merchants, sawmillers and boxmakers.

Fourteen Robert Holt 5s shares were exchanged for each five Gardner and Yeoman 20s shares to pay for the purchase. An issue of 140,000 5s Robert Holt shares, at a value of 9s each, was made to cover the purchase of the £50,000 share capital.