Industrialists visiting N.Z.

Press, Volume CXI, Issue 32554, 13 March 1971, Page 18

Industrialists visiting N.Z.

An American industrialist, who processed the rocket motor cases, heat shields and escape hatches for the moon-shot space vehicles, is one of 60 prominent businessmen from the United States at present on a visit to the South Island.

He is Mr A. T. Ridinger, chairman of Metallurgical, Inc., of Minneapolis, America’s biggest metaltreating company. The annual turnover of the companies Mr Ridinger controls amounts to about sls6m. But he emphasises that his business interests are modest and small compared with a number of his fellow businessmen on the tour.

One of Mr Ridinger’s closest friends on the trip is another Minneapolis businessman, Mr R. Schweigert, president of one of America’s biggest meat-processing companies. The two men have close ties because, as Mr Ridinger said, “we both began with nothing 25 years ago.” Now both have big industrial empires in the same city. This is Mr Ridinger’s first trip to New Zealand although he travels extensively on business to do with metal treating. His firm have treated most of the highly stressed metal components for Polaris, Sergent and Vanguard missiles. Like all members of the party, Mr Ridinger and Mr Schweigert are on the lookout for capital investment

opportunities in New Zealand. Mr Schweigert has already business ties with New Zealand—he is a large purchaser of this country’s boned meats. He is enthusiastic about the standard of quality in packing and hygiene in New Zealand meat exports. COMPETITIVE INDUSTRY Mr Schweigert insists that his business is one of the most competitive in America. Mr Ridinger, on the other hand, can claim his firm is the only one in the United States specialising in metal treatment. “We treat about 95 per cent of engine casings for all outer space engines that the United States Government has produced.” CONFERENCE After a week-end at Milford, Te Anau, Mount Cook and Queenstown, members of the tour party will attend a conference at Christchurch on Monday dealing with New Zealand's economic and trading prospects. Local businessmen will also attend. The Minister of Finance (Mr Muldoon) and the Secretary of the Treasury (Mr H. G. Lang) will come from Wellington to address the conference.

The tour party will leave for Sydney on Monday afternoon in a Boeing charter jet. They will not visit the North Island.