SUGAR OF MILK COMPANY
SOLD TO ENGLISH CONCERN Dominion Special Service. Dunedin, September 20. The directors of the Sugar of Milk Company, which has a factory at Edeudalc, have reported to shareholders that, subject to the shareholders’ approval, they have accepted the offer of Whey Developments Ltd., of England, to purchase the company as a going concern. The purchase price represents a return of £1 10s. (by way of cash and preferential shares) per £1 share. Mr. J. G. Neil (chairman of directors) states that Whey Developments Ltd. is opening up other factories in New Zealand besides works in England. Several well-known London financial men are behind the new company, and a general expansion of the Sugar of Milk Company’s activities is expected to take place. The present directors of the Sugar of Milk Company will form the New Zealand board of the new company.
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Bibliographic details
Dominion, Volume 21, Issue 302, 21 September 1928, Page 10
Word Count
145SUGAR OF MILK COMPANY Dominion, Volume 21, Issue 302, 21 September 1928, Page 10
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