DAIRY FACTORIES TO AMALGAMATE

Sun (Auckland), Volume 1, Issue 109, 29 July 1927, Page 3

DAIRY FACTORIES TO AMALGAMATE

SHAREHOLDERS’ MEETING

A decision to amalgamate the two companies has been arrived at between the Waitemata Co-operative Dairy Company, Ltd., and the New Zealand Co-operative Dairy Company, Ltd.,. the former company to be liquidated. The shareholders of the Waitemata Company met at Kumeu yesterday. One hundred and fifty were present, and after Mr. Dynes Fulton and Mr. Pi. H. Sterling, of the Waikato concern, had addressed them, a vote taken showed a majority of 10 votes over the requirement of 75 per cent, to bring the amalgamation about. The Waitemata Company’s factory at Waimauku would, alter the amalgamation, be kept running to its capacity of SOO tons of butter, said Mr. Dynes Fulton. Supplies would be diverted from the Mt. Eden factory, which had handled 1,200 tons against its capacity of 70.0 tons last season. The shareholders of the Waitemata Company will meet at Taupaki on August 16. The annual report to be presented states that the output for the year has been a record. The monthly payments on butterfat for the season averaged Is 2*d a lb. Further payments in the second dairy pool will make the total payment Is 35d alb of butterfat. The directors recommend a dividend of 6 per cent, be declared on paid-up capital.