Merger produces big fertiliser rebate

Press, 27 July 1988, Page 43

Merger produces big fertiliser rebate

PA Dunedin Shareholders in the Ravensdown/East Coast Fertiliser merger will receive a 50 per cent lift in their fertiliser rebate. The chairman of the merged co-operatives, now known as Agfert Cooperative, Mr J. Mitchell, said costs stabilised through rationalisation and the improved profitability resulted in the payout of a higher rebate. The rebate would be $9 on every tonne of fertiliser' bought. For shareholders who had been with Ravensdown this was a 50 per cent increase on the $6 paid out last year. For East Coast Fertiliser shareholders who had received little or no rebate in recent years the payout was a big improve-

ment justifying the merger, Mr Mitchell said. Agfert Co-operative’s annual meeting would be held in Oamaru, in October. Among the items of extra business would be the proposal to bring Ravensdown back into the name of the business. It was a name identifiable with the fertiliser industry, Mr Mitchell said. The Ravensdown/East Coast Fertiliser merger came into effect in May, 1987. The Ravensdown works at Wanganui were closed and production centred at Awatoto, near Napier. Agfert Co-operative strengthened its rural involvement towards the end of 1987 when it bought assets of a leading livestock exporter and set up A.E.L. Corp., Ltd.