Dairy Board expands in PNG
PA Wellington The New Zealand Dairy Board has bought the 45 per cent stake in a Papua New Guinea dairy company held by the Brisbane-based dairy and food group, Q.U.F. to increase its share to 75 per cent. This means that the Board now has the major interest in Tanubada Holdings Pty. Ltd, a Papua New Guinea dairy products manufacturing ' and distribution company, with the Investment Corporation of Papua New Guinea, holding the remaining 25 per cent. A spokesman for the N.Z. Dairy Board, Mr Neville Martin, said that the board bought Q.U.F.’s share for about $500,000. Although it gave the board a stronger interest in the company nothing much would change, he said. The main reason the board bought the shares was that Q.U.F. decided to become more domestically based. The issued capital of Tanu : bada was one million kina (SNZI.9 million).
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Press, 27 November 1982, Page 19
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148Dairy Board expands in PNG Press, 27 November 1982, Page 19
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