NEWS IN BRIEF

Press, Issue 32333, 26 June 1970, Page 17

NEWS IN BRIEF

Motor Traders A new Motor Traders subsidiary—Ferodo Sales and Service—will process brake lining for the motor trade and other friction material for industrial and engineering use from August next. By arrangement with Ferodo, Ltd, U.K., and Hardie-Ferodo, Pty, Ltd, Australia, semi-finished material would be drawn from the two overseas plants and locally processed and distributed to wholesalers by Ferodo Sales and Service, said Mr K. E. F. Grenny, managing director of Motor Traders. Mr K. B. Miller has been appointed manager of the new organisation.

Wool Receipts Greasy and scoured wool auctioned in New Zealand in the 11 months to May 31 was down 4.7 per cent. Total auction sales were 418,806 bales weighing 486,150,822 pounds The amount received from auction sales this season was $NZ125.423m which was SNZIB.49m or 13 per cent less compared with the same period last season. Boral Farm-in Boral, Ltd, is going into oil exploration in New Zealand through a wholly-owned subsidiary, Ilya Prospecting New Zealand, Ltd. The chairman of Boral (Mr M. J. O’Neill) said arrangements had been completed with the Todd interests for Ilya to farm-in to prospecting areas in New Zealand. Ilya will have the right to acquire one half of the 50 per cent interest held by the Todd group in the Ruatoria and Canterbury onshore area, including the three-miie coastal limit.— (P.A.), BHP Emperor 1 Hydrocarbons have been recovered from the Emperor 1 well during tests below 5000 ft. This is not considered significant at this stage and Glomar 3 is currently drilling ahead at 6327 ft. On the Cormorant 1 location Ocean Digger is drilling ahead at 6946 ft. After completion of the Cormorant well, Ocean Digger will drill a second well on the Pelican prospect 50 miles off the Tasmanian coast. This well will assist evaluation of the hydrocarbon shows encountered in Pelican 1.