NITRATE PRODUCTION

Evening Post, Volume CVIII, Issue 136, 5 December 1929, Page 12

NITRATE PRODUCTION

IMPERIAL CHEMICAL INDUSTRIES

Imperial Chemical Industries, Ltd., one of the great chemical groups in the world and a monumental example of business rationalisation, is represented in New Zealand (for the moment) by Sir Lennon Raws, attorney for the company in Australia. In a recent report of the company it was stated that important developments are taking place in associated companies in Canada, Australia, and South Africa, and they are described as of an entirely satisfactory and remunerative character The forecast of the chairman, Lord Melchett, that the Imperial Chemical Industries dividend rate would be maiu•tained on increased capital is being fully justified. Last April an offer was made to shareholders of 4,410,595 preference 7 per cent. JEI shares at £1 3s each, and 6.01G,----857 ordinary £1 shares at £1 13s Cd each. The shares were, over-subscribed, and raised the issued capital to £70,375,452. For the last financial year the final dividend on the ordinary shares was 5 per cent., making 8 per cent, for the twelve months. The constructional programme is in advance.of schedule. The large development foreshadowed of the works of Synthetic Ammonia and Nitrates, Ltd., at Billingham, near Stockton-on-Tees, is practically complete, and when the latest report was issued the last unit for production of ammonium sulphate was to commence output. A BIG SCOTTISH MERGER. Under the auspices of Imperial Chemical Industries, Ltd., has recently been formed Scottish Agricultural Industries, Ltd , with a capital of £1,750,000. ■ Scottish Agricultural Industries, Ltd., was formed to consolidate the fertiliser ' and feeding stuffs business in Scotland, and has entered into agreements to absorb two additional companies. Production of fertilisers is one of the undertakings in which Imperial Chemical Industries is largely interested. Last year the company signed au agreement with the Chilian Finance Minister for close co-operation between producers of synthetic nitrogen and Chilian nitrate, also, concluding an arrangement with a large • Continental company for co-opera-tion in the production and 'marketing of synthetic nitrogen products, and a common policy in matters relating to fertilisers. Provision was made for a reduction of 10s. per ton in the price of nitrogen fertilisers. One-fourth of the shares of Australian Fertilisers Pty., Ltd., is held by the Electrolytic Zinc Co. of Australasia, Ltd., the remaining shares being held equally by the Mount Lyell Company, Cuming, Smith and Co., and Imperial Chemical Industries of Australia and New Zealand, Ltd. Melbourne.