A NEW FLAX COMPANY.
Mivturai, Ltd., has been formed to tike over the property of A. and L. Seiiert, Ltd., Shannon, ' including 3000 Acres o£ daxland all in growing flax. - It is the intention of the new company/ to develop the flax-milling side of the biuineiM of the A. and L. Seifert Company. This latter company will continue in existence, retaining the farm land* of its property, about 1300 acres in extent. The capital of the uew company is £95,000 6harea of £1 each. The vendors take up £50,000 worth of this capital, and the balance, 45,000 shareß, will be offered to the public. Milling starts next week. The machinery and plant is all thoroughly modern, the Miranui being probably the largest undertaking of its kind in New Zealand. Mr. Alfred Seifert, manag-ing-director in the old company, will hold a similar position in the new company. The New Zealand Underwriting and Development Corporation, Limited, has underwritten the whole of the abovementioned £45,000 capital to be issued to the public, and will act as organising brokers for the Dominion. Already, it is understood, £20,000 has been applied for by the provisional board of directors and other subscribers.
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Bibliographic details
Evening Post, Volume CXIII, Issue 125, 31 May 1927, Page 11
Word Count
196A NEW FLAX COMPANY. Evening Post, Volume CXIII, Issue 125, 31 May 1927, Page 11
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