Banking changes
PA New Plymouth U.S. Commerce Department moves to impose countervailing duties on Taranaki-made low-fuming copper rod and wire are causing some confusion for the manufacturer. Late last week the general manager of McKechnie Bros, NZ, Ltd, Mr Peter Sukolski, of New Plymouth said no final decision on the move was expected before December. This was followed by a Reuter report from Washington at the weekend that duties of 9 per cent would be imposed on the firm’s copper rod and wire sent to the United States. Competitors in the United States complained that the New Zealand product is subsidised by tax incentives on exports from this country. McKechnie exports to the US last year totalled more than $2.7 million.
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Press, 7 August 1985, Page 35
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121Banking changes Press, 7 August 1985, Page 35
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