FREEZING MERGER

Evening Post, Volume CX, Issue 133, 3 December 1930, Page 12

FREEZING MERGER

TO REDUCE OVERHEAD COSTS

EMPLOYEES RETAINED

(By Telegraph—Press Association.) GISBORNE, 2nd December. Up till to-<?ay two freezing companies have been operating iv Gisborne—the Gisborne- Sheepfarmers' Frozen Meat and Mercantile Co., Ltd., and Nelson's (N.Z.), Ltd.—but henceforth all freezing will be done at the works of the former company, which are situated alongside the wharf at Kaiti. This step was agreed upon some time ago, with the object of cutting down overhead costs. It was officially announced this afternoon that the fusion had been effected, a subsidiary company, in which the two firms will have an interest, having been registered. The new company will be known as the Gisborne Refrigerating Co., Ltd., and will be governed by two directors from each of the two companies. Mr. F. Tolerton, who for years has been manager in Gisborne for Nelsons' (N.Z.), Ltd., will be the manager of the new company. The principal employees of both companies will not be affected, and will enter the employ of the new company. The Kaiti works will close down today unde.r the Gisborne Sheepfarmers' Frozen Meat and Mercantile Co., Ltd., and will reopen on Monday .is the main works of the new company. Nelsons' (N.Z.), Ltd., work's at Kaitiiatahi will be held in readiness to commence freezing operations should tly?' volume of stock prove too great to be dealt with at any time at the Kaiti works.