PAPER PULP IN AUSTRALIA

Evening Post, Volume CXVI, Issue 104, 30 October 1933, Page 12

PAPER PULP IN AUSTRALIA

It was stated at the annual meeting of Australasian Paper and Pulp Co., Ltd., Sydney, that in about eighteen months the operating company expects to announce its embarkation in the paper pulp industry. The chairman of Australian Paper Manufacturers, Ltd. (Sir Hugh Denison), said that the two reasons why it was decided to pass on the benefits of lower operating costs during the year were:—(l) To stimulate production; and (2) to prove t the Government and' the public that the paper industry was.truly economic, and did not depend on tariffs to make a profit. Sir Hugh added that the company had had a record year, and it only remained to produce its own pulp, and it would then be self-contained. In about twelve or eighteen months shareholders may be informed that the company was about to launch out in the pulp industry. The directors were joining with other big interests to investigate the possibilities of pulp, especially in Tasmania, and in the next twelve months they would definitely know whether Australian hardwood or soft woods were economic proportions. During the last financial year Australian Paper Manufacturers, Ltd., earned a profit for £148,272, compared with £138,702 for the previous year.