Company Formed For Development Of Salt Works In Marlborough

Wanganui Chronicle, 31 May 1949, Page 6

Company Formed For Development Of Salt Works In Marlborough

WELLINGTON, May 29, (PA).— The Minister of Industries and Commerce (Mr. Nordmeyer) announced on Saturday that arrangements nad been made for the development of salt works at Lake Grassmere in Northern Marlborough by a company called Dominion Salt, Limited, the capital of which would be subscribed jointly by the Crown and by Skellerua Industries, Limited. The capital of the new company will be £300,000, of which £150,000 in ordinary shares , will be held by Skellerup Industries, and £150,000 in preference shares by the Crown. There will be seven directors, four appointed by ordinary shareholders and three by preference shareholders, one of the latter to be the chairman.

Mr. Nordmeyer said the Government had been interested in the production of salt in New Zealand since the inception of the scheme. The opinion of a world authority, Professor W. L. Badger, of the United States, had been secured and was favourable. Professor Badger anticipated production of 25,000 tons a year in a few years time, rising to 50,000 tons within 20 years, and possibly reaching 75,000 tons or more. Logical development, Professor Badger reported, would be the initial production of coarse commercial salt, followed by production of refined salt, and later such products as caustic soda, etc. Mr. Nordmeyer said the industryshould be able to compete on favourable terms with overseas supplies.