P.D.L. Westport exports pass $1M mark

Press, 1 October 1979, Page 28

P.D.L. Westport exports pass $1M mark

B-

NEVIN TOPP

Since being acquired by 1 P D.L. Holdings, Ltd, in May. | 1975. P.D.L. Westport. Ltd, ( has exported more than SI million worth of Torro toys. < The Westport custom and Injection moulding company ; passed the SIM export mark ; earlier this month; a major ; achievement considering that from the date ot acquisition • to March 1976. Torro I exports by the coinpanv - totalled only 597.392. The Westport companv ! was originally the plastic'; division of Matai Industries, ! Lid. the group of companies 1 established on the West i Coast in 1973 with the help 1 of the then Labour Govern- ’■ ment’s regional development • Scheme. .Matai Industries went into 1 receivership in 1974, and 1 according to the chairman of 1 P.D.L. Holdings, Ltd, (Sir 1 Robertson Stewart) the 8 Westport division was acquired by his company after ’ a number of other com- ' pames turned down the offer 8 of acquiring the firm. i P.D.L. was proud that it . had made P.D.L. Westport a 1 luccess. because at the time); It was acquired it was in re-|* ceivership. Sir Robertson 1 Mid l< He explained that it was, not necessarily the “moneyll tide that had made P.D.L. | tcquire ihe Westport firm. I "1 felt obligated to the < West Coast because 1 had so i nan\ enjoyable experiences I •s a boy mountaineering in;l the region.” he said.

P.DL. had tried to bring about an employment structure which would make people stay on the West Coast. According to Sir Robertson, P.D.L. Westport was the largest manufacturing company on the West Coast, . employing about 65 persons and working 24 hours a day. P.D.L. was committed to staying on the West. Coast lor five years after the acquisition date because of the egional development loan it got. “This will expire in 1980. but it is our intention to carry on with the company as it provides employment opportunities for people on the West Coast,” Sir Roberston said Besides Torro toys, P.DL Westport makes ice cream containers. blow-moulded bottles and containers, and buckets complete with sealable lids. Exports of Torro toys go to Australia. North America. Holland. Greece, Trinidad and Fiji. Another first for the Westport company was that lit was granted high prioritv (status for making Torro toy’s by the Minister of Trade and Industry (Mr Adams-Schnie-ider) earlier this month. Included in the requirements of obtaining high priority status a firm must | have a minimum of 75 per |cent New Zealand content in : its product; export at least 20 per cent of its production; and the selling of the remainder of its production

on the New Zealand market at an ex-factory price of not more than 10 per cent than the f.o.b. export price.

t| Benefits to the company] t| include the exemption from i;the 10 per cent sales tax on i plant and machinery, and an!

| investment allowance of 40 per cent (presently 20 per cent) on new plant and I equipment.