REID RUBBER MILLS

Press, Volume CIV, Issue 30934, 15 December 1965, Page 25

REID RUBBER MILLS

Over-all Sales Record (N.Z. Press Association) AUCKLAND, Dec. 14. Total sales of Reid (N.Z.) Rubber Mills, Ltd., Auckland, in the year to August 31 were a record, with those in the general rubber goods and plastics divisions substantially better than last year, the general manager (Mr J. G. Barchain) told the annual meeting. Tyre production was maintained at last year’s level, but after a price reduction the value of sales was slightly down. After five years' development with the help of its United States associate, B. F. Goodrich, a complete range of new tyre moulds had been introduced. The subsidiary. Motorways (N.Z.), achieved record sales in the retreading field. New Factory The chairman (Mr F. W. L. Milne) announced that a new factory for the manufacture of polystyrene would be built in Penrose. The company owned a half-interest in Explastics (N.Z.), Ltd., which provided polystyrene requirements for the South Island. The stage had now been reached where establishment of a separate North island factory was needed, and this would release space urgently required for the plastics division. Business Personal Mr G. G. Gibbes Watson will retire as chairman of Jas. J. Niven and Company, Wellington-based engineers and merchants, on December 31. He is succeeded by Mr J. T. Watts, Lord Glenconner,-chairman of directors of the National Mortgage and Agency Company of New Zealand since 1951, has retired. He will be succeeded by Sir Charles Denman, who to prominent in mer-i chant broUng and braking circles in Britain.