Waitaki: Merger is rational, logical

Press, 24 September 1988, Page 38

Waitaki: Merger is rational, logical

By

JULIE FITZGERALD

NZPA London The planned merger of the U.K. operations of Associated New Zealand Farmers, Challenge Meats and Waitaki International is a rational and logical move, says Waitaki’s managing director in London, Mr Tim Ritchie. The new company, yet to be named, will begin operation on December 1, under the management of Mr Geoff Lorigan, now managing director of ANZF. The merger will make the company the largest

importer and distributor of New Zealand sheepmeat products in the U.K. Mr Ritchie said that the move followed through the rationalisation process of the meat industry already well under way in New Zealand. The industry was now looking to get as many costs as possible out of the system, he said. “Each of the merged company’s businesses is complementary and the move is entirely logical." “The objective is to pull together the best of three organisations and merge

them into one company that will be a strong force in meat importing in the U.K.” Mr Ritchie said the company’s business would be diverse covering the importation of meat, commodity trading and consumer activities. He was coy about giving details of the merger, many of which are still being sorted out. Asked if the joining of forces would result in job losses, Mr Ritchie said the company’s structure was still being determined, “but obviously there will be casualties.”