N.Z.F.P. expands engineering
NZ Forest Products, Ltd, is extending its forest-related engineering interests with the takeover of Lees Industries Ltd in a deal worth about SSM. The move was announced in a joint statement by the chairman of Forest Products (Mr L. N. Ross) and the chairman of Lees Industries, (Mr D. E. Lees). It is subject to approval by the Examiner of Commercial Practices. “Lees Industries is essen-. tially an engineering company specialising in the manufacture, assembly, and distribution of container loaders, forklift trucks, tractors and other materialshandling equipment,” they said. ’ “The company has developed considerable expertise in this field to service the NZ market and has also built up a substantial export business/ “It has subsidiary compan-
ies in Singapore and Australia as well as several in New Zealand. “The NZFP group, as the most diversified New Zealand forest utilisation company, has developed expertise in wood handling and wood processing. It already uses a range of equipment manufactured by Lees Industries.” “Resulting from the merger there will be combined expertise which will enable the further development of new and improved equipment for use by forest and wood processing industries,” they said. The offer to shareholders will be dispatched later this month. The move fits in with Forest Products recent move into a joint venture company with Australian Paper Manufacturers, Ltd, to combine corporate group engineering activites and certain work in technical research and development.
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Press, 19 May 1981, Page 31
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236N.Z.F.P. expands engineering Press, 19 May 1981, Page 31
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