Wreckair sale sealed

Press, 11 December 1989, Page 15

Wreckair sale sealed

Ariadne Australia has all but sealed the sAustl26 million (SNZI66.6M) sale of its equipment hire business, Wreckair Holdings, to Brambles Holdings, a subsidiary of Brambles Industries. Ariadne’s company secretary, Mr Tony Conde, said formal legal documents had been entered into by Ariadne’s subsidiary Alkair and the sale would be completed on December 15.

Fish plant jobs go Wattie Fishing is sacking most of its 80 processing staff and closing its Gisborne plant after signing a partnership agreement with the Norwegian fishing company Aalesund Shipping A/S Norway and Partners. Wattie said the agreement for Aalesund to process its catches at sea and ship them directly to Wattle’s customers would substantially improve its processing efficiency and open new export markets. As a result Wattie Fishing’s on-shore processing plant at Gisborne would close at the end of March, 1990. Debt decision delayed A High Court decision as to whether the Auckland businessman, Mr John Lancaster Davies can proceed with a proposal to pay off $ll million in debts has been held over until February. Mr Davies, formerly the managing director of the North City Finance group which collapsed last year, was seeking court approval for the proposal under section 140 of the Insolvency Act. Mr Justice Barker ordered that the creditors file affidavits in opposition by February 1, and Mr Davies would file his affidavit in support a week later. The hearing would then be called before the duty judge on February 19. Centre not on market Interchase Corporation’s main assets — the Myer Centre in Brisbane — was now not on the market, the annual meeting of the Chase Corporation subsidiary was told in Sydney. Last month Interchase's board was replaced by three nominees of mortgagee banks, the Bank of New Zealand and the State Bank of South Australia, reportedly because of the banks’ concern at the failure to sell the Myer Centre — one of Australia’s largest retail complexes. Disney marketing push A plan to increase Disney's presence here aims for new licensing agreements to be drawn up with New Zealand companies using Disney characters with their products. Mr John Cookson, managing director of the Walt Disney Company (Australia) Pty, said the thrust for licensing agreements coincided with the retirement of Mr Neil Beckett, of Beckett Agencies in Auckland, who has had the sole licensing rights for 25 years. Pergamon buyout A private company set up by Mr Robert Maxwell has launched an agreed bid of £37.1 million (SNZ9B.SM) for the 35 per cent of Pergamon AGB not already privately owned through the publishing magnate’s empire. The move, by the new company, Pergamon Market Research (PMR), will leave Maxwell Communications Corporation (MCC) as the Maxwell empire's only remaining quoted company.