Elders timber-marketing merger largest in Aust.
Elders Resources NZFP will have the largest timbermarketing organisation in Australia after the merger of a subsidiary with Paynter Timber Pty in that country, according to Elders’ timber division chief executive, Mr John Turner. The merger of the Elders’ subsidiary, Moore Le Messurier, with Paynter Timber Pty, a subsidiary of Christ-church-based Paynter Cor-
poration, was announced in October. Mr Turner said the enlarged operation would have sales of more than SNZ9O million. Elders’ pinex timber products sawmilling and timber marketing operation was already the largest in New Zealand, and the Paynter acquisition would strengthen operations in Australia, he said.
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Press, 30 November 1989, Page 33
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105Elders timber-marketing merger largest in Aust. Press, 30 November 1989, Page 33
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