WEST COAST MOVE
Odlin Merger In Hokitika
(N.Z. Press Association) HOKITIKA, March 22.
The C. and A. Odlin Timber and Hardware Company, Ltd., has announced the completion of a merger with KaniereHokitika Sawmills, Ltd., a well-known Hokitika timber concern.
The consideration was 30.000 ordinary fully paid 10s shares in C. and A. Odlin, together with an undisclosed cash payment for 20.000 full paid 20s ordinary shares in Kaniere-Hokitika SawmillsModern Plant
The merger was planned to establish, in accordance with Government policy, modern timber conversion and timber processing at Hokitika in a plant to be erected on the site owned by Kaniere-Hokitika Sawmills-
It is also proposed to process timber from the Camerons mill of United Sawmills, Ltd. at this plant, together with the output of other mills in the district.
The merger of the two companies is expected to result in a soundly based timber industry being established in Hokitika.
After the cutting out of indigenous resources exotic timber will be drawn from where the company intends to re-afforest cut-over freehold land.
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Bibliographic details
Press, Volume CV, Issue 31016, 23 March 1966, Page 23
Word Count
172WEST COAST MOVE Press, Volume CV, Issue 31016, 23 March 1966, Page 23
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