TEXTILE INDUSTRY TO EXTEND TO AUSTRALIA
Sydney, Oct. 29. A huge British textile firm proposes to withdraw its interests from Egypt and grow cotton in the Lake Eyre district, Soutli Australia. With textile factories already in Lancashire, South Africa, and Canada, it intends also to establish a large plant near Sydney. The firm is seeking a 5000-acre factory site on which it will build 4000 homes for its operatives. A junior company, British-Australia Development Proprietary Limited, has been formed to handle the building activities. More than 2000 skilled textile workers will be brought to Australia to start the enterprise. The firm issued a statement to-day that it was forced to leave Egypt because the Egyptian Government was demanding 40 fier cent, control of all foreign capital invested there. The importation of raw material from Egypt will continue during the initial stages but an early start will be made with local growing. Another large British textile firm is also looking for a factory site.
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Wanganui Chronicle, 31 October 1946, Page 6
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163TEXTILE INDUSTRY TO EXTEND TO AUSTRALIA Wanganui Chronicle, 31 October 1946, Page 6
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