DIVERSIFICATION BY DUNLOP

Press, Volume C, Issue 29513, 15 May 1961, Page 16

DIVERSIFICATION BY DUNLOP

Take-Overs In Australia

(N.Z.P.A .-Reuter—Copyright) MELBOURNE. May 12. Dunlop Australia, Ltd., is stepping up its diversification programme with the takeover of four proprietary companies in deals worth £786,000. Consideration was the issue of 393,000 Dunlop ordinary £1 shares priced at 40s—in yesterday’s market. The chairman (Sir Daniel McVey) said last night the take-overs represented a further step in the company’s diversification policy. Further moves along these lines were imminent, he said. It was not possible to disclose the nature of the companies acquired. “At this stage it would not be in the best interests of shareholders.” Sir Daniel McVey said. The latest take-overs follow the purchase of Buesst and Bills Bros. Pty., Ltd., bedding manufacturers, In a Australian Copper Up.— Australian copper producers on Friday announced an increase of £lO in the price of copper. Effective from Friday, the price is £315 a ton.—(N.Z.P.A.) Rover Capital Move. —The Rover Company, automobile .manufacturers, proposes to increase nominal capital to £5.5 million by the creation of 4 million new 5s ordinary shares.