STATE BUYS MILK TREATING PLANTS
AUCKLAND, Mar. 4. The pu'rchase by the Crown of the assets of the two Auckland milk treating houses for a probable total of more than £112,000, was announced by Air. H. H. Innes, Director of Milk Alarketing, at the lirst meeting of directors of the Auckland Alilk Treating Corporation. The treating houses are tlxose of Stonex Bros. Ltd., and the Auckland Alilk Co. Ltd., and the sale and ^urchase agreements are to operate 'from April 1. Atr. Innes said the purchase price for the assets of Stonex Bros. was about £56,000, and in the case of the Auckland Alilk Co., the price was also about £56,000 plus proved cost of alterations to the company's present buildings, to bring them up to the standard approved by the Auckland Aletropolitau Alilk Board. In a statement made after the meeting, Air. Innes said the Crown was conducting all negotiations for the purchase of the Auckland treatment house assets. All capital expenditure would be linanced through the State .Corporation at 3J per cent. Worliing capital for wages and ineidental expenses would come from overdraft arranged through the Bank of New Zealand and guaranteed by the Government.
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Chronicle (Levin), 5 March 1947, Page 5
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197STATE BUYS MILK TREATING PLANTS Chronicle (Levin), 5 March 1947, Page 5
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