Kaurex peat plant this year

Press, 21 February 1986, Page 10

Kaurex peat plant this year

Kaurex Corporation, Ltd, expects to start building the peat extraction plant at Kaimaumau, Northland, in the first quarter of this year, says the chairman, Sir George Chapman, in the annual report The directors look forward to reporting next year that the first waxes and resins are being produced from the extraction plant; and that these

products are being exported. The Department of Scientific and Industrial Research is undertaking a programme of peat extraction for product application studies. The studies will be made by Kaurex’s technical consultants in the United Kingdom, he says. “This will enable us to support our resin and waxes from the start of production in New Zealand, with com-

parative data based on independent trials and should assist in rapid world-wide market penetration of our products.” Because the public flotation of the company’s shares was only completed towards the end of the financial year, the annual accounts in the report give little indication of the development work now under way, he says.

Kaurex incurred a net trading loss of $319,799 in the year to September 30, compared with a loss of $133,357 in the previous corresponding period. An extraordinary loss of $83,810 and export market development credits of $28,449, put the final loss at $375,160. Shareholders’ funds stand at $14,338,286, including ordinary capital of $9.7M.