Commercial NZTS buys into James North

Press, 3 July 1979, Page 22

Commercial NZTS buys into James North

PA Auckland NZTS Holdings, Ltd, is expanding its activities with the cash purchase of a 50 per cent shareholding in James North N.Z., Ltd, a company which makes industrial clothing, and safety equipment. The balance of the company’s capital will continue to be held by the Siebe Gorman group United Kingdom. Full management responsibility for the company will be undertaken by the NZTS workwear division, and technical expertise and support will be provided by the United Kingdom interests. NZTS expects major benefits from the acquisition. Initially, it will raise the workwear divisions sales about 50 per cent to around S6M and further gains will accrue as the result of an extended product range and increased sales staff.

The disposal of duplicated warehouses ir Auckland, Wellington, and Christchurch, and other savings in overheads are planned.

The workwear division of NZTS has shown strong growth in recent years. This is the manufacturing, importing, warehousing, and

industrial products arm of the group. Its main manufacturing activities are making industrial uniforms, and the production of a selection of safety products, such as gloves, and boots. NZTS is now one of the largest industrial uniform makers in the country. It has warehouses in Wellington, Christchurch, and Hamilton. Exports are sent to Australia, and the Pacific Islands.

James North imports raw materials for the manufacture of knitted-cotton gloves,

and P.V.C. doated gloves. 1 The company also has the equipment to make P.V.C. waterproof clothing. Siebe Gozman makes sophisticated breathing apparatus, which, is used for underwater and industrial purposes where toxic fumes are involved. This equipment will be marketed in New Zealand. The cnmpany also makes fire engine "equipment.

Consideration fjor the purchase, which dotes not involve the issue of any shares, has not yet been disclosed.

The expanded workwear division will etmploy 250 persons. r