HIGH RATE OF PROFIT
Carbon Black Earnings
(N.Z. Press Assn.— Copyright) SYDNEY, Jan. 7.
1.C.1.A. N.Z. and Phillips Petroleum Company, of the United States, are building an £Bm carbon black plant at Kurnell, in Australia, and Continental Carbon Company. (United States), is also building a plant near Sydney. It has just been announced that the net profit of Australian Carbon Black Pty., Ltd., rose by a further £26,024 to £554,731 for the year ended June 30 Hast. Increases
This represents am earning rate of 92.4 per cent on capital, and follows increases of £54,876 for the previous year and £173,814 for 1962-63. Over a period of three years the company’s annual profit has risen by more than 80 per cent.
The company operates a carbon black plant at Altona Victoria, with a yearly rated capacity of 60 million lb. However it is not strictly a part of the Altona petrochemical complex. Its paid capital of £600,000 is 50 per cent owned by the Ashland Oil and Refinery Company, of the United States.
The remaining capital is held by two other American companies, CaJbot Corporation (£294,000) and Harvard and Company (£6000). At present Australian Carbon Black dominates the market for its products.
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Bibliographic details
Press, Volume CV, Issue 30953, 8 January 1966, Page 7
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201HIGH RATE OF PROFIT Press, Volume CV, Issue 30953, 8 January 1966, Page 7
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