PRINTING INK FROM ROBBER TYRES

Hokitika Guardian, 19 July 1930, Page 6

PRINTING INK FROM ROBBER TYRES

COMPANY FORMING TO EXPLOIT NOVEL PROCESS: ".

Should a new company, "Neale Ink Ltd, succeed in raising £20,000 of capital required to commence operations, it will be possible for the motorist to renew acquaintance with liis discarded old tyres in print. Tins novel 'experience has already been proved practicable by a- process, for which patents have been ’granted to Mr L. ©. Nleale, that converts used motor tyre® and other rubber scrap into a base tor manufacturing blacfk and blue-black printing inks. . Mixed-.with pigments, driers and deodorants, #n ink, that has been most favourably:.reported upon by leading printing.hpiftes, is produced.

The process is more than,,,a .scientific novelty, because as. rubber is the principal supply for ,the ink base, the utilisation of this waste product gives a costs advantage‘in the finished article. Estimates 'fire based on obtaining a highest price' of 2s to compete with inks now retailed afou'nd as. ‘ ;

The flotation of this company 1, is clean and its direction impressive. The first board comprises Messrs 'W;'’ 1 s A. Watt, R.G.; Harold B. Gohen, M-iL.G, and solicitor, H. W. Gepp, 1 retiring chairman of the Development and -Migration Commission, and the inventor, L. C. Neale. ■ . A v ; -M?

•.The prospectus -includes independent, detailed technical; reports 'covering the reliability-.of patent rights, the chemical soundness of. the process-aiul •the utilisation of the product under 'normal conditions; and the fullest information is given of the terms ot purchase and' of the capital requirements. v v v -£>

To erect a freehold factory, install equipment, pay file inventors’ cash consideration, muafc preliminary expenses, and provide adequate working capital for a weekly output of 12 tons of ink, £20,000 is required. That sum is the minimum on which the company will go to allotment, ;so -subscribers are assured that the business will not be laun lied wii.h inadequate funds. • ■ ' ■ ' r>!

• However, 40,000 £1 ordinaries are offered, so that capital will be'-avail-able';l’or possible expansion; -.The-inven-tor is to be reimbursed £SOOO in cash far his- expenditure on the process) and he' is' to be allotted 10,000 fullypaid shares.' The’ share consideration is to be paid'pro-rata to the : ntiinber I of- shares’ subscribed by•’ thd'-'^puhlife: ; These ;''patent shares rank 1 after .public’s holdings for capital security : until ’ 10.' per ‘cent. pro fits are' earned. and the dash shares are to qualify'-for

dividends as fully paid up (irrespective of the amounts called) equally’'with the 1 inventors’ fully paids. '• "•’> Those terms cover the Australasian rights, and an option over world’s rights has''Bfeeirtocured by''tlie company

'or „18 months, providing ilr"Neale shall have.'repeivetjrJSXO.ooo Tom disposing of diis oversea rights, further’ _rece tpts, from. the_ c M? equally divided by the company and yir .olSsaJs* •».. ~ .► ’ The..company’s'. prospects:'depewcijpjn r (]) The volume' of sales- that'orin 3^ developed in Australia; and (2) Ary ■eoeipts in excess of £lo,Cop4rom sellng. rights overseas. %:■s%. ■ As investigations have indicated, ■lie company’s capacity to-, hlarloqt the 31-odmt at.a good profit at prices apjfOjdpiatQly, less than;. is expectethin ffilllg d> : oiW 'weekly ou'tput 'df slant unit to he installed. alrrangement|s have been made IJlrji Gordon and Gotch to act as djstiSJjutr ng agents. They express the ppihion ;he capacity output'“cdiild be tpadilv ibsorbed in the Australian No forecast of dividends is jpt. sales, are estimated fj.t' ;'(T on three-quarters of capacity liit, with expenditure amountin||||p A profit' of .' rent. on thed&fel s .a3.]'d;.with all shares ranktig" as fully pal’d.' **l The prospectus its ;app|armee printed .with Ink >y. the process, with one page carcviig /fin imported ink at os Cd a pound, dr' purposes of practical coinpai^ii