FIRMS

Taranaki Daily News, 24 January 1934, Page 7

FIRMS

HUGE CAPITAL INVOLVED EXPORTS FROM AUSTRALIA COMPLETE MARKET CHAIN CHILLED BEEF INTERESTS By Telegraph—Press Assn. —Copyright. Rec. 10.25 p.m. Melbourne, Jan. 23. More than £14,000,000 capital will be involved in the alliance of W. Angliss and Company with the British company W. Weddell and Company Limited, announced to-day. Sir Edmund Vestey is now on the way to Australia in connection with the merger.

Behind the merger is an agreement by Weddell and Company, which is one of the Vestey group, to distribute and control the marketing in Great Britain of meat produced by Angliss and Company in all States in Australia by the formation of a chain from the Australian farm to the British housewife. Mr. G. W. Edwards, Australian manager of Weddells, interviewed to-day, said a guarantee would be given that the marketing of Australian chilled beef would be looked after properly. He felt sure the merger would mean that much more Australian chilled meat would be exported and efficiently distributed in Britain, with a consequent decrease in Britain’s meat imports from foreign countries. No early re-opening of Vestey’s huge works at Port Darwin is contemplated. Vestey’s control 37,680 square miles of country in Northern Australia. Mr. W. Angliss, M.L.C., said he had conducted the negotiations with Sir Edmund Vestey by wireless telephone. As soon as the negotiations were completed Weddells would practically absorb the Australian company. He intends to leave for London in March to try to increase tiie volume of imports of Australian products. He will also visit the Continent of Europe to improve marketing arrangements. The London Daily Express says the merger means that 3000 Vestey shops will be selling more Empire meat, states a London cable.