Rheem N.Z. sees big L.P.G. market

Press, 30 August 1979, Page 19

Rheem N.Z. sees big L.P.G. market

PA Wellington Trading in several divisions of Rheem New Zealand, Ltd, had improved, and while the state of the economy still gave no real encouragement, “the directors are confident of a return to a very much more acceptable level of profitability in the current year,” said the chairman (Mr J. G. Forsythe) at the annual meeting.

The company is hoping for a sizeable involvement in the manufacture of containers for L.P.G. fuel for motor vehicles. Mr J. A. Maddock, the

recently-appointed general manager, told shareholders that the company believed that liquefied petroleum gas was the best alternative for conversion of cars from petrol. If a major conversion of this nature was approved, the company could be making between 10,000 and 20,000 L.P.G. containers a year, said Mr Maddock. The Tawa-based water heater and container manufacturer’s sales and profits for the first three months of the latest year Were “well ahead” of last year, Mr Forsythe said. An export order for water

heaters was being filled, and exports for the year would be well in excess of the previous year’s $300,000, he said.

The plastics division was investigating proposals to meet increased demand and the engineering division was trading profitably, though still influenced by the depressed construction industry, he said. Mr H. P. Ralph retired as a director at the meeting, having reached the companj'’s retirement age, and Mr Forsythe announced that the vacancy would be filled by Mr Allan Hellaby, of Auckland.