Bunting deal unconditional
Salmond Industries. Ltd. advises that the_ agreement for the acquisition of the New Zealand brushmaking business of Bunting and Co, Ltd on May 1 has become unconditional, after ratification by the Bunting shareholders, and approval by the Examiner of Commercial Practices.
The purchase of the. manufacturing plant and stock in trade, which now includes paintbrushes as well as general brushware, will be paid for partly in cash and partly by the issue of 210.000 Salmond Industries 100 c ordinary shares.
Salmond has leased the Bunting factory in Christchurch, and manufacturing will be carried on by Salmonds subsidiary, Talus Brushware, Ltd.
Mr G. C. Croy, the Christchurch branch manager of Salmond Industries, has been appointed manager of the Christchurch brushware division.
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Press, 8 May 1980, Page 25
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123Bunting deal unconditional Press, 8 May 1980, Page 25
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