MERGER TALKS
No action to lie taken
The Canterbury Frozen Meat Company, Ltd, the New Zealand Refrigerating Company, Ltd, and the Waitaki Farmers' Freezing Company, Ltd have decided not to go ahead with proposals for a merger of the three. In a joint statement issued yesterday afternoon, the chairmen of C.F.M. (Mr H. H. Elworthv) and Waitaki Farmers’ (Mr R. V. McLachlan) and the vice-chairman of N.Z. Refrigerating Company (Mr W. G. V. Femie) said that after a thorough examination of the report from the consultant (Mr G. A. Parsons, of Wellington) and discussions the respective boards had decided that it was not feasible to proceed w-ith the suggested merger proposals.
"However, the study has provided valuable information and the intention is to achieve the maximum benefit for all parties, including producers, from co-operation in areas where rationalisation is possible,” the statement said.
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Bibliographic details
Press, Volume CXII, Issue 32957, 1 July 1972, Page 21
Word Count
143MERGER TALKS Press, Volume CXII, Issue 32957, 1 July 1972, Page 21
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