Packaging merger in Dunedin
Pa Dunedin Otago Press and Produce and Whitcoulls have combined their Dunedin packaging operations to make a strong and more viable entity, O.P.P.’s chairman (Mr T. C. Fraser) told shareholders at the annual meeting.
The arrangement came about because Whitcoulls bought out Carter Holt's 50 per cent share of Ampac, O.P.P. owning the other 50 per cent. (The non-O.P.P. interest has been becoming steadily more remote as McLeods, the original shareholder, was taken over by Sharland's and Sharland’s was acquired by Carter Holt.)
The merged operation is to be called the Otago Fibre Packaging Company.
Mr Fraser added that since publication of the annual report the turnover and profit figures had shown a favourable trend.
The managing director (Mr J. C. S. Smith) said circulation of the main revenue earner, the Otago Daily Times, had increased to 52.750. Mr Smith said a decision on Northern Television’s application to broadcast a breakfast programme was expected from the Broadcasting Commission within two or three days. The company has taken 300.000 shares in Northern.
Packaging merger in Dunedin
Press, 15 August 1981, Page 19
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