N.Z. Steel ‘Fair Bet’ -G.K.N.
<N Z. Press Assn.—Copyright) LONDON. April 9. New Zealand’s project to make steel from iron-sands at first looked, to. be a gamble "but now seems to be a fair bet,” said the chairman of Guest, Keen and Nettlefolds, Ltd (Mr R. Brookes) today.
G.K.N. will eventually invest £500,000 in New Zealand Steel which is in the process of setting up a new integrated steelworks based on iron-sand deposits south of Auckland. Mr Brookes said when G.K.N. first invested money in the project, he had “considerable doubts,” but on balance his board’s view was that in the long-term it was a good bet. Different View “When I was in New Zealand last year, however, and saw the site, the iron-sands, the trial runs that had been made and the calibre of the people involved, I took a very different view. “It looks like one of those unnatural things which is going to come good.”
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Press, Volume CVIII, Issue 31653, 13 April 1968, Page 16
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158N.Z. Steel ‘Fair Bet’ -G.K.N. Press, Volume CVIII, Issue 31653, 13 April 1968, Page 16
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