WHAKATANE PAPER
NEW COMPANY REGISTERED CAPITAL OF £1,750,000 Whakatane Board Mills, Ltd., a new public company with a' capital of £1,750,000, has been registered in Auckland as part of the capital reorganisation scheme of Whakatane Paper Mills, Ltd. The new company, which will operate the “active” assets of the old organisation, the cardboard mill and its adjuncts, will be controlled by , Whakatane Paper Mills, Ltd. In a telephone conversation with a Beacon representative Mr Brown, general manager of the Whakatane Paper Mills, Ltd., said -that there was nothing to report concerning the venture other than that given here. The capital of the board mills company comprises £1 shares, of which 493 have been subscribed for by Whakatane Paper Mills, Ltd. Subscribers of the other six shares so far allotted are Messrs. G. H. Mackley, G. S. 'Crimp (Wellington), H. H. Corbin, W. G. Clavis, S. J. Robinson (Auckland), and E. B. Brown (Whakatane). The first directors will be Messrs. Mackley, Crimp, Corbin, Robinson, R. Hansen and C. H. Fisher, all of whom are directors of Whakatane Paper Mills, Ltd. Messrs. Hansen and Fisher have undertaken to take one qualifying f share each. It was announced recently that shareholders of the parent company would have distributed to them proportionately the shares in the new company.
The registered office of the company is at the premises of the parent company at Whakatane. The objects are to acquire that part of the undertaking of Whakatane Paper Mills, Ltd.., consisting of the business of manufacturing and dealing in woodpulp and cardboard now being carried on at Whakatane and to carry on as manufacturers of, and dealers in, pulps, papers and boards and articles of all kinds made from pulp, paper or board. Mr Mackley is chairman and man-aging-director of Whakatane Paper Mils, Ltd., which is registered in
Sydney. Eight of the ten directors of this company are resident in New Zealand, the other two, Messrs. Hansen and Fisher, being resident in Australia.
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https://paperspast.natlib.govt.nz/newspapers/BPB19470709.2.31
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Bay of Plenty Beacon, Volume 11, Issue 51, 9 July 1947, Page 5
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328WHAKATANE PAPER Bay of Plenty Beacon, Volume 11, Issue 51, 9 July 1947, Page 5
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