Changes made at EMCO
Plans for restructuring the EMCO Group have been announced by Steel and Tube Holdings, Ltd, which has recently acquired EMCO. Steel and Tube also said that its chairman, Mr F. H. Kember, is to retire from April 11 and will be succeeded by the deputy chairman, Mr L. M. Papps. Mr Kember has been the only chairman of Steel and Tube since it was formed more than 32 years ago. The managing director of Steel and Tube, Mr D. C. Thurston, will become chief executive of the merged group. Mr R. N. Mason will continue as managing director of EMCO, responsible for its subsidiaries until he retires on July 31 to follow private business interests. Steel and Tube said that, from April, the EMCO group would cease to function as a controlling body for its subsidiaries and that its corporate functions would be merged with those of Steel and Tube. The board of EMCO would assume a role appropriate to that of a wholly owned subsidiary. Application would be made to the Stock Exchange to delist EMCO as soon as listing requirements were no longer being met. The board believed the time was right to seek a new name for Steel and Tube and it proposed to put suggestions before shareholders soon.
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Press, 15 February 1986, Page 23
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216Changes made at EMCO Press, 15 February 1986, Page 23
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