Paynter Corp acquires Dunedin wood importer

Press, 5 December 1986, Page 24

Paynter Corp acquires Dunedin wood importer

Paynter Corporation, Ltd, the recently listed Christchurch company, has acquired Dunedinbased timber importer, J. Scott and Company, Ltd, and its associate company Jarrah Roberts, Ltd.

They will operate as subsidiaries of the company, the executive chairman of Paynter Corporation, Mr Richmond Paynter, said yesterday.

Founded in Dunedin in 1900, J. Scott and Company imports more than 40 different species from Africa, Canada/U.S. South-east Asia, Australia and the Pacific Islands. The company has developed close associations and supply agreements

with some major world exporters of sawn timber. Scott’s are suppliers of oak casks to the N.Z. wine industiy and other activities include importing chemicals and plastic building material products.

“J. Scott and Company fits our investment criteria having built up a solid reputation over many years, with a specialised knowledge and experience in importing exotic timbers,” said Mr Paynter.

"Sales of sawn timber are expected to be about SIOM for this trading year and the company is well placed to take advantage of the rapidly growing

market for quality imported timber.” This growth has been largely due to the steady decline in native sawmilling over the last few years. Mr Paynter said J. Scott and Company had held a sigm'T.’Cajit market share for imsay years. "The company’s sales growth has been impressive over the- years and we are confident of its continuing growth and success.”

The majority of Scott’s trade is in Auckland, where it has an office.

Paynter Corporation plan the company to preserve its identity. “J. Scott and Company is a longestablished family form and it will continue to run

as a complete separate identity,” said Mr Paynter.

The chairman and managing director of J. Scott and Company, Mr Stuart Scott, will continue with the company. The acquisition, which took effect from December 1, was for an undisclosed sum. No staff changes are expected. The purchase of J. Scott and Company will complement the timber activities of Paynter Corporation, which markets timber products under the Paynter Profile brand through a national distribution network to builders supply outlets, hardware and home handyman stores.