Reorganisation by Welgas

Press, 6 July 1983, Page 28

Reorganisation by Welgas

Welgas Holdings, Ltd, will form a new company, Transgas Services, Ltd, which incorporates the activities of Domestic and Industrial Equipment, Ltd, of Wellington, and the Christchurch Gas, Coal and Coke Company, Ltd, shareholders at yesterday’s annual meeting were told. Mr H. W. Revell, a director of Welgas, said last evening that the name Christchurch Gas, Coal and Coke Company, would still be retained for trading at the LPG centre in Byron Street, and for the property on which the gasworks was sited. Transgas Services would be for accounting purposes, he said. The chairman of Welgas, Mr T. J. N. Beyer, told the annual meeting that the Wellington Gas Company would now trade as Gasco,

the Press Association reports. Welgas would continue its group investment and management functions as the Welgas Holdings group of companies. The name changes for the trading subsidiaries were needed for a clearer identification, and new logos had been designed to be compatible with each activity, Mr Beyer said. The Wellington Gas Company had sold 19.2 per cent more natural gas in the financial year to March 31 than during the same period in the previous year. The value of the gas increased 25.6 per cent to ?9 million. Eleven public CNG refuelling stations were now trading in the company’s franchise area, and another five prospective CNG stations were being negotiated, he said.