Lake Grassmere Scheme To Proceed

Chronicle (Levin), 30 May 1949, Page 5

Lake Grassmere Scheme To Proceed

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WELLINGTON, 29. Tlie Minister of liulustries and Com- • Mr. Xordmeyer, announced on ; . rdav that arrangements liad been • rur Ihe development of salt works ; Grassmere in northern Marl-. ■ :'Ugh, iiv a company called Dominion - ' ! /mit ml, the. eaptital of which ■ d lie subscribed jointlv bv tlie ..■n and by Skellerup Industries ■ i ed. The eapital of the new com- ■■ . will be £300,000, of which £150,- • idinary shares will Le held by * h.'iup Industries and 150,000 pre- > ••ii.-e slmres by the Grown. There be seven directors, four appointed ■ "idinary shareholders and three by ' '••! enee shareholders, one of the ■ r to be chairman. dr. Xordmeyer said the Government ira been interested in the production •n' -;ot in Xew Zealand sinee the incepti- n of the scheme. The opinion of a «'-■ M authority, Professor W. L. Bsdger, of the United States, had been ->• ' ,.d and was favourable. Professor I'.-ego'r anticipated the production of 25.; .oi) tons a year in a few years' time, t'sing to 50,000 tons within 20 years thnl possibly Teaching 75,000 tons or ti'ii-e. rPhe logical development, Profc Padger reported, would be the hiitia! production of coarse commercial s!iit followed by the production of refim d ^-alt and later such products as Citu.-t i* soda, et cetera. M r. Xordmeyer said the indnstry sliiedd be able to compete on favour-a-bhi terms,with overseas siftplies.