Gollin sells Bic holding
PA Sydney Gollin Holdings, Ltd, has sold its 50 per cent interest in the Biro Bic activities in Australia and New Zealand to Ansett Transport Industries, Ltd. The sale, which Gollin chief executive (Mr K. C. Gale) described as a “significant, but not substantial” part of the company’s asset realisation programme, was for an undisclosed sum. But, Mr Gale said it was "a good deal bigger” than the $675,000 paid for part of the company’s engineering activities last week. The Australia and New Zealand activities of Biro Bic began soon after the founding of the world-wide group in 1945 by Baron Marcel Bich of France. As well as being the market leader in the manufacture and sale of ball-point pens in Australia and New Zealand the company also sells disposable cigarette lighters and throw-away razors, which were introduced to the local market in February. A Bic subsidiary, Reva Plastics Proprietary, Ltd, should tie in well with Ansett — it supplies to automotive, electrical and packaging industries, and is the secondbiggest custom moulders in Australia.
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Press, 8 July 1976, Page 17
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177Gollin sells Bic holding Press, 8 July 1976, Page 17
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