FREEZING WORKS MERGER

Taranaki Daily News, 3 December 1930, Page 6

FREEZING WORKS MERGER

ARRANGEMENT AT GISBORNE. GUTTING OF OVERHEAD COSTS. By Telegraph.—Press’ Association. ! ; Gisborne, Last Night. Up till to-day two freezing companies had been operating at Gisborne, the Gisborne Sheepfarmers’ Frozen Meat and Mercantile Co., Ltd., and Nelson (N.Z.), Ltd., but henceforth all freezing will be done at the works of the former company, which is 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 has for years been manager at 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 to-day under the Gisborne Sheepfarmers, Ltd., and reopen on Monday as the main works of the new'company. Nelsons' (N.Z.), Ltd.’s, works at Kaitiratahi will be held in readiness to commence freezing operations should the volume of stock prove too great to be dealt with at any time at the Kaiti works.