Bunting in new venture

Press, 30 September 1983, Page 20

Bunting in new venture

P‘A Wellington A joint venture with the American aviation company, McDonnell Douglas, will form the basis of an international, high technology expansion for the Wellington investor, Bunting and Company. Bunting has announced it will list on the Australian sharemarket the joint venture, which involves a unique coal and oil mix technology. It will give the former brushmaker turned investment company its second Australian listing. Bunting has received approval for the Australian relisting of Impala Securities, Ltd, which owns all the capital of Solarguard Pty, Ltd. This company has a joint venture with the McDonnell Douglas subsidiary, Coaliquid Inc. of the United States.

Bunting plans for Impala

to be its main investment vehicle outside New Zealand and Australia. The company is now looking at acquisitions in the United States and United Kingdom. “Impala has substantial industrial partners in Europe, North America, and Asia. Besides its interest in coal-oil mix', Impala has substantial cash reserves and further Northern Hemisphere acquisitions are being looked at,” the managing director, Mr Paul Collins, said.

The joint ventures, through Coaliquid International BV, is internationally marketing the patented technology for stabilising coal, water and oil mixtures. The process is the only economically proven process for coal, water and oil slurries at present operating on a commercial scale in the United States, according to Mr Collins.