New phosphate company

Press, 5 August 1981, Page 24

New phosphate company

PA Auckland A new company, the New Zealand Phosphate Company, Ltd, has been formed by a consortium of five major fertiliser companies to take over the functions of the British Phosphate Commission, which is being wound

up. Auckland-based New Zealand Phosphate will be responsible for the procurement and distribution of the phosphate rock requirements of the fertiliser industry.

In addition to the annual importation of 1.1 million tonnes of phosphate rock the company will be bringing in 225,000 tonnes of sulphur. New Zealand at present obtains its phosphate ■ from Nauru Island in the Pacific, Christmas Island in the Indian Ocean and from Florida, with sulphur coming largely from Canada. One of the main functions of the new company will, however, be to obtain quality phosphate from the most economic sources whether traditional or not.

The New Zealand Phosphate Company had been formed with a hominal capital of $200,000 but it has financial backing of its shareholding companies. They are the Bay of Plenty Co-operative Fertiliser Company. Ltd, the East Coast Fertiliser Company, Ltd, the New Zealand Farmers’ Fertiliser Company, Ltd, Ravensdown Fertiliser Cooperative, Ltd, and the Southland Co-operative Phosphate Company, Ltd. The chairman of the new company is Mr J. L. B. Stevens, chairman of the New Zealand Farmers’ Fertiliser Company. Mr P. G. Riddell, managing director of New Zealand Farmers’ Fertiliser, is deputy chairman.

Other directors are the chairmen and chief executives of the other four shareholding companies. They are Mr J. A. Campbell, Mr P. H. Elworthy, Mr A. L. Friis, Mr D. H. Murdoch. Mr P. S. Plummer. Mr P. M. Sawers, Mr P. R. Steward.