P.Dines extends its Wanganui interests

Press, 24 February 1987, Page 24

P.Dines extends its Wanganui interests

PA Wellington Perry Dines Corp, Ltd, trading as BME Technologies, has announced the extension of its Wanganui interests with acquisition of the industrial coating and blasting company R. and P. Edmonds, Ltd. The Wanganui company, established in the late 19205, employs 60 people locally and another 40 in New Plymouth where it has been involved in painting and protectively coating a number of big energy projects.

The purchase was for an undisclosed sum and is subject to Overseas Investment Commission approval.

Some of Edmonds’ major contracts in the Taranaki region had several years to run, Perry Dines said in a statement to the Stock Exchange. By adding Edmonds to the 80 per cent interest taken late last year in Blake Diecasting, Ltd, and subsidiary Wanganui Engineering, the directors believed they were building a diverse local group

with excellent cash flow and profitability.

Combined turnover of the three Wanganui companies would be more than $l2 million.

The managing director of Edmonds, Mr Peter Edmonds, said the strength of Perry Dines’ business contacts in New Zealand and overseas should offer further job opportunities in the company. Mr Edmonds and his wife, Diana, have up till now owned all the shares in their company.