Briefs

Press, 5 December 1986, Page 25

Briefs

Sealord buy Sealord Products, Ltd, has bought a $7.5 million British factory freezer trawler, bringing 70 jobs to Nelson. Announcing the purchase, the Nelson-based firm’s general manager, Dr Brian Rhoades, said the 1450 tonne ship would arrive at Nelson in April. It would require a crew of 70 New Zealanders and Sealord would be aiming to recruit locally. NZ News head Mr Michael Forbes is the \ new chief executhte of NZ News, Ltd. He has been act-

ing head of the company since the resignation of Mr Pat Williams last month. His appointment was announced by the NZ News chairman, Mr Leicester Steven. Mr Forbes has been group executive editor of NZ News for the past two and a half years. The company publishes the Auckland and Christchurch "Stars," the "Sunday Star” and the “New Zealand Women’s Weekly,” as well as provincial newspapers and several magazines. Kupe depth The promising 1 well off the coast of

Taranaki was at 3503 metres at 6 a.m. yesterday, NZOG said. Progress in 24 hours was 67m and at report time the operator was preparing to log the well. Directors of NZOG were cautiously optimistic about the prospects of gas, condensate and oil accumulation found in Kupe South-1. Murdoch stake Mr Rupert Murdoch’s News Corp, which has made a $1.9 billion take-over bid for a major Australian newspaper group, has a solid investment in the New Zealand media. News, Ltd, has about 30 per

cent of the Wellington-based Independent Newspapers, Ltd, and is gradually increasing this. It has official approval to go to 40 per cent. News, Ltd, moved to increase its INL stake from. 22 per cent earlier this year. Bank sale

Bank America Corporation, the bank holding company which has been struggling with substantial losses, said it had agreed to sell its Italian unit to Deutsche Bank AG, West Germany's largest bank, fos SUS6O3 million. The sale ofCßanca d’America e d’ltalia had been expected for some

time as part of San Fran-cisco-based Bank America’s strategy of selling assets. Airliner order British Caledonian Airways said it had become the first carrier to order the new MD--11 airliner which U.S. manufacturer McDonnell Douglas plans to build. In a deal seen by market analysts as a disappointment for the rival European planemaker, Airbus Industrie, the airline said it had placed an order worth £7OO million (SNZI96O million) for nine MD-lls, subject to a final McDonnell Douglas decision to {go ahead and build the new model.