Clypex finance
PA Wellington Clypex Resources, Ltd, said it has established a subsidiary to increase the company’s involvement in the financial services area.
The new company, Clypex Investments, Ltd, has acquired a 30 per cent interest in Moller Johnson Finance, Ltd, a New Plymouth-based finance company that is principally involved in motor vehicle financing and consumer credit.
In a joint statement, Clypex managing director, Mr Bob Glover, and Moller Johnson chairman, Mr Norton Moller, said the Clypex participation would enable Moller Johnson Finance to increase its activities in the Auckland area, as
well as to develop further in Taranaki, the Manawatu and Waikato.
Mr Moller said a major growth factor for Moller Johnson Finance had been the support of investments in Taranaki and the company would continue a significant presence in the province.
Expansion of- the lending portfolio was planned through further consumer-related lending and selected commercial advance, Mr Glover said.
To support this expansion, Mr John Chetwynd had been appointed general manager of Moller Johnson Finance and would be based in Auckland.
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Press, 18 December 1986, Page 36
Word Count
173Clypex finance Press, 18 December 1986, Page 36
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