PINNOCK IN N.Z.
No Winding-up Contemplated (N.Z. Press Association) AUCKLAND, May 24. The Pinnock group, which is in financial difficulties in Britain, has no intention of winding up its activities in New Zealand, where it makes sewing machines in Auckland and fractional h.p. motors in Hutt. The chairman and manag-ing-director of Pinnock Finance (G. 8. Ltd. (Dr. B. Cohen), said this in Auckland today. The two New Zealand companies—Pinnock (N.Z.) and Hutt Electrics—owed his company more than £lOO,OOO, advanced to promote manufacturing here. Dr. Cohen said his company was prepared, as a gesture of good faith, to exercise patience and restraint. For the time being, it would not press its claim provided the normal trade creditors adopted the same attitude.
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Press, Volume CVII, Issue 31378, 25 May 1967, Page 17
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120PINNOCK IN N.Z. Press, Volume CVII, Issue 31378, 25 May 1967, Page 17
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