Fletcher’s defends "super’ companies

Press, 7 September 1981, Page 6

Fletcher’s defends "super’ companies

A limited number of companies fishing on a large scale was the probable key to New Zealand’s competing with foreign interests in its offshore fishing grounds, said the chairman of FletcherChallenge, Ltd, Mr R. R. Trotter, yesterday.

Inshore fishing was a strong local' industry but New Zealand needed to develop the potential of its “deep and distant” waters, he said.

At present, foreign vessels and joint ventures exploited most of New Zealand’s deepsea fishing grounds, but New Zealand could compete on an international level with a small number of companies working on a sufficient scale.

Development needed top management and adequate financial resources, said Mr Trotter.

“You cannot do it with small boats,” he said. A leaked Fletcher’s report to the Government on the future of fishing said that New Zealand fishing companies were too small and lacked adequate top management skills, and financial resources.

Fletcher’s answer was the establishment of three “super” companies within five years. The report clearly indicated that Fletcher’s intended to be one of the three companies. Mr Trotter said that many

critics of his group’s report had misunderstood the submissions and had reacted in defence of the local fishing industry. “It is not a question of being critical,” he said. “There is nothing wrong with the present management for the present scale but as the industry grows it will need more people and money.” Future growth in New Zealand’s offshore fishing industry with New Zealand companies would have advantages for everyone. “All we want to do is to be helpful to the New Zealand industry as a whole,” said Mr Trotter. Fletcher’s had prepared its report at the request of the Government.