Aust. bid for interest in Peterson and Co.
Gibson Chemical Indus- ’ tries, Ltd, Australia, has ' made an offer for an interest in S. W. Peterson and Company, Ltd, New Zealand ) nation-wide manufacturer and distributor of base chemicals to industry. This was announced yes-I terday by Peterson’s manag-! ing director (Mr A. B. Doug-I I ,as \ Gibson Chemical is an Australian owned company which manufactures and | markets chemical products in fields similar to those of I Petersons. Association between the two companies dates back to 1959, This long association
has now culminated in a much closer relationship. It is intended that Petersons will carry on the business substantially in its present form but with the benefit of Gibson’s technology. The three executive directors will continue their directorships and executive positions with present employees.
The offer from Gibson Chemical Industries is for a majority interest, acceptances for which have been lodged. Minority shareholdings will be held by New Zealanders.
The acquisition has been approved by the Reserve Bank of New Zealand and had to stand the test of its expected contribution to the economy and growth in the national interest of New Zealand.
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Bibliographic details
Press, Volume CXII, Issue 33064, 3 November 1972, Page 7
Word Count
191Aust. bid for interest in Peterson and Co. Press, Volume CXII, Issue 33064, 3 November 1972, Page 7
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