Donaghys buys Fijian stake
PA ‘ Dunedin Donaghys Industries. Ltd. has bought a 40 per cent holding in a Fijian company. Ropes Fiji, Ltd. of Nausori. the Dunedin-based company announced. An established supplier of high quality cordage to the islands, Donaghys had always found competition from Asia too difficult to match in lower-priced categories, said the managing director, Mr N. J. B. Craig. There was hope that the situation would change with the manufacturing base in Fiji, he said. Donaghys had already given technical assistance
under the Sparteca agreement to Ropes Fiji, which was founded in 1979. Mr Craig would not place a value on the deal, but said the equity investment would be followed by a financial injection to reinforce the company. As a signatory to the European Economic’ Community’s Lome Convention covering developing companies, Fiji has an advantage over New Zealand. Products from the islands gain easier access to countries in the community and their dependencies. Mr Craig said he saw this as significant for the future.
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Press, 1 September 1982, Page 23
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168Donaghys buys Fijian stake Press, 1 September 1982, Page 23
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