Winstone stake in S.E. Asia

Press, 16 August 1978, Page 26

Winstone stake in S.E. Asia

Winstone. Ltd, has further extended its interest in SouthEast Asia with the acquisi-i tion of all shares in Cemac (Hong Kong), Ltd. For the past seven years Cemac (Hong Kong), Ltd, has been owned on a 50/50 basis by the Winst-me subsidiary, Cemac Holdings, Ltd, and the well known Hong Kong-based development and trading group, Jardine Matheson and Company, Ltd. Through this acquisition Winstone will acquire a 40i per cent, interest in a leading specialist contracting and i building materials supplv ! company, Tak Cheong! Engineering, Ltd. When he made the announcement, Mr B. D. Bamfield, the managing director of Winstone said that “the acquisition of all shares in' Cemac (Hong Kong), Ltd, will:

provide Winstone with further export opportunities for The group’s range of products and services, as well as giving additional trading : opportunities in the South . East Asian markets. From a I wholly-owned base in Hong Kong, Winstone would be , better placed to service these ; important markr *s. I Mr Bamfield also explained : that total shareholding of . Cemac (Honk Kong). Ltd, i would enable Winstone to I become more effectively in- ; volved in the overseas earnlings potential to Hong 'Kong's buildin boom, which ; is predicted to continue well into the 1980 s. Cemac (Hong Kong), Ltd, ■ will continue under the present management of Mr J. C. Hockley, who has lived in Hong Kong since the inceplition of the company.