LUCERNE FACTORY
Now Public Company The New Zealand Lucerne Products Company, Ltd, which runs the new lucerne dehydration factory at Hinds, has now registered as a public company and will shortly allot shares to farmers and businessmen. The registration was announced yesterday in a statement by the directors. After a short trial ran at the end of last season, the factory began full operation ;in October. The managing director (Mr [A. R. Reith) said yesterday that it was unfortunate that the beginning of operations of the new factory coincided with the worst drought on record for the area. “Nevertheless." he said, “the results of the first quarter’s operations are now to hand and a small profit was made after providing for plant depreciation and accruals. “Lucerne stands have shown a phenomenal growth since the drought ended, andl a very healthy profit should! be made in the quarter to March 31.” Mr Reith said that in the, winter the factory would make stock rations, mainly for sheep and cattle.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19700206.2.170
Bibliographic details
Press, Volume CIX, Issue 32215, 6 February 1970, Page 16
Word Count
168LUCERNE FACTORY Press, Volume CIX, Issue 32215, 6 February 1970, Page 16
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in