Another timber link
PA Wellington South Corp, Ltd, has formed a joint venture company with the Black family interests of Australia to acquire 100 per cent of the share capital of Port Craig Timber Co, Ltd, of Invercargill, for 300 c a share.
The bid values Port Craig Timber at $4.5 million, and the offer has
received the unanimous recommendation of the directors of Port Craig Timber. The formal offer is scheduled to be mailed to shareholders on January 15. Acceptances will close on February 16. The Black family already have an interest in the timber industry through their shareholding in Addington Timber
Co, Ltd, of Christchurch, and until recently had a substantial investment in radiata forestry in Zimbabwe.
South Corp has an interest in sawmilling through its wholly owned subsidiary Naseby Timber Co, Ltd, and in timber retailing through its 70 per cent subsidiary John Edmond Ltd.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19870106.2.124.3
Bibliographic details
Press, 6 January 1987, Page 23
Word Count
148Another timber link Press, 6 January 1987, Page 23
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.