COMMERCIAL NEWS IN BRIEF

Press, Volume CIX, Issue 32221, 13 February 1970, Page 16

COMMERCIAL NEWS IN BRIEF

Commercial Union

Commercial Union Assurance Company of Australia, Ltd, is maintaiinng interim dividend at 4 per cent, payable May 6: ex April 9. ' The underwriting surplus for the six months to December 31 was marginally higher, and investment income was greater than in the corresponding period of the preceding year, the directors say.—(P.A.) Ore For Europe European steel mills are expected to become major customers for Australian iron ore within the next few years, a vice-president of the German conglomerate, Metalgesellschaft A.G. (Casimir Prince Wittgenstein), said this week. Link With Ford The Japan Automatic Transmission Comp a n y—which was formed recently—said it plans to produce 15,000 units monthly of an improved version of the Nissan 3-N 71A automatic transmission, under an American licence from the Ford Motor Company. Half of the company's initial paid up capital of 1080 m yen has been put up by the Ford Motor Company.—(P.A.)

Court Forecast The directors of Geo. Court and Sons. Ltd, forecast yesterday that the net profit for ■the full year would rise again. They have declared an interim dividend of 3 per cent | (steady). payable April 13; ex (dividend April 1.

Magellan Survey Magellan Petroleum NewZealand. Ltd. will soon undertake a further seismic appraisal of its extensive petroleum ! licence areas off both the North and South Islands. Its ’ survey boat United Geo I is ; equipped with the latest in- ' strumentation. including ' equipment for satellite navigation and positioning.