A and B, Motor Specs in joint venture

Press, Volume CXI, Issue 32779, 2 December 1971, Page 19

A and B, Motor Specs in joint venture

A new company, Bearing Service Company, Ltd, has been formed as an equally owned joint venture between Motor Specialties Industries, Ltd, and Andrews and Beaven, Ltd, the managing director of Motor Specialties (Mr T. A. Gibbs) and the managing director of Andrews and Beaven (Mr W. B. Barnes) have announced.

The new company will handle a wide range of bearings, related products, and transmission units. Motor Specialties and Andrews and Beaven, acting as stockists for the Bearing Service Company, will provide more than 100 distribution points throughout New Zealand.

The head office of the new company will be in Wellington, and a general manager, sales manager and engineers will be appointed soon. The company will provide a specialised technical service to manufacturers, engineers, resellers, and distributors. The Bearing Service Company will manage the distributorship, held by its owners for Ransome and Maries,

Ltd, Hoffmann, Ltd, and Pollard, Ltd, which have amalgamated into the largest ballbearing manufacturing company in Great Britain. The British company has established a New Zealand branch office to be known as R.H.P. (N.Z.), Ltd. A general manager (Mr W. Sly) will be situated in New Zealand to provide a direct link with the English principals, and with the distributors, the statement said.

Br. Tobacco pays I4p.c. (N.Z. Press Assn.—Copyright) SYDNEY, December 1. The British Tobacco Company (Australia), Ltd, has declared a steady annual ordinary dividend of 14 per cent for the year to October 31. The dividend (an interim and final each of 7 per cent) is the company’s third successive payout at the 14 per cent rate. The dividend was announced together with the final results of the group parent company.

Printed accounts showing the consolidated results of the company and its subsidiaries are not expected to be available until February next year. Net profit for the year to October 31 for the parent company was $6,864,691, up slightly from the previous year’s $6,849,336. The “Sydney Morning Herald” said today that the marginal increase in the parent company’s results did not help in assessing what the consolidated net profit would be.