PAPER MERGER PLANS A plan for- merging Cumberland Paper Board Mills. Ltd., of Sydney, and Australasian Paper and Pulp Co., Ltd., of Mel bourne, is being prepared by the directors of the two companies. The basis is the acquisition by Australasian Paper of all the Cumberland Paper shares by an issue of its shares to Cumberland Paper .shareholders, subject to Treasuryconsent. The whole of the ordinary capital of Australian Paper Manufacturers. Ltd., one of the largest undertakings in Australia, is owned by the two companies. The merger is necessary to simplify the structure of the organisation, and, because of the operating company’s large expansion plans, is in the interests of all three companies, the directors state. Details are being worked out and are expected to be announced soon, they add. Australasian Paper holds 77.6 per cent, and Cumberland Paper holds 22.4 percent, of the operating company’s ordinary capital of £2,200,000.
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Wanganui Chronicle, 31 May 1948, Page 8
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150Page 8 Advertisements Column 3 Wanganui Chronicle, 31 May 1948, Page 8
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