FREEZING WORKS DEAL

Southland Times, Issue 24871, 10 October 1942, Page 4

FREEZING WORKS DEAL

Negotiations For Ocean Beach Negotiations for the sale of the Ocean Beach freezing works, or the transfer of a part interest, are in progress and are reported to have reached the final stage. The Kaiapoi freezing works is also involved in the deal. It is probable that the transfer of the licences will be discussed by the New Zealand Meat Board next week and a recommendation made to the Government. Tire Ocean Beach works is owned by the Ocean Beach Freezing Company, of which Mr Arthur Sims, of London, formerly of the partnership of Sims, Cooper, Ltd., is the principal shareholder. The prospective purchaser is the Co-operative Wholesale Society of Great Britain, which supplies an extensive chain of retail stores in the British Isles. It has been known for some time that the sale of the Ocean Beach and Kaiapoi works was likely, and a suggestion was placed before the annual meeting of the Electoral Committee of the Meat Board that a syndicate of four South Island freezing companies should acquire the two works and operate them, thereby retaining ownership in the Dominion. It is understood, however, that the works have not been placed on the market for sale, but have merely been the subject of negotiations between the two parties concerned in the present deal. PREVIOUS OWNERS The Ocean Beach works was established by Birt and Company, English shipowners, to ensure freights of meat for its ships. At another stage the Federal Steam Navigation Company, Limited, took over the business of Birt and Company, including the works. Later the Ocean Beach Freezing Company, Limited, was formed and the principal shareholders were Sims, Cooper, Limited, Wright, Stephenson and Company, Limited, and J. G. Ward and Company, Limited. Mr Sims subsequently became the principal shareholder. The local management of the works has been in the hands of J. G. Ward and Company, Limited, for a number of years. During the last season the Ocean Beach works had the highest output of the three Southland works. It handled 639,437 lambs and sheep, an increase of 25,096 on the previous season. The Co-operative Wholesale Society was established in Manchester in 1863 and acquired a membership of 1200 co-operative retail societies operating many thousands of retail shops in the British Isles. Some years ago it was announced that it handled £105,000,000 worth of goods annually. Large quantities of New Zealand’s meat and dairy produce are handled by the society, and its move to acquire the Ocean Beach freezing works is in accordance with its policy of buying its requirements at the source of production so that its consumers may obtain goods at the cheapest possible prices. It is believed that in the past a considerable portion of the Ocean Beach output has been handled by the society.