Kauri Timber Co Ltd
Date established
1888
Date closed
1978
History
The Kauri Timber Company was established in Melbourne in 1886. It was the result of the amalgamation of twenty eight saw mills. In 1888 the company was floated with a nominal capital of 1.2 million pounds in 600.000 2 pound shares.
On 27 May 1889 a transfer of shares was made to a New Zealand Syndicate thus it may be at this date the NZ operation was formerly established. The organisation was by far the largest timber company in New Zealand and was administered by an Auckland Board. According to the prospectus, the company had a virtual monopoly of the Kauri forests and owned most of the important saw mills. The company's chief export markets were Melbourne and Sydney.
In 1903 the KTC became involved in the kahikatea trade from northern Wairoa to Australia, and in the rimu trade based in the West Taupo forests.
In 1905 the company purchased shares in Butler Bros mill and also an alliance with Ellis & Burnand Ltd
In 1920 KTC went into volunatary liquidation and reformed itself on a more modest scale. The heart of company operations was no longer in kauri.
1945 KTC purchased W Booth & Co
In June 1961 Fletcher Trust and Investment Company purchased the Kauri Timber Company's investments in a number of New Zealand companies including Butler Bros thus giving Fletchers a controlling interest in Stuart & Chapman.
By October 1961 Fletcher Trust had offered £4.10.0 per share for the Chapman and Stuart family interests. Payment was by way of Fletcher Debentures carrying 5-3/4% interest.
By February 1962 there was 100% acceptance of that offer and Stuart and Chapman Ltd. was now a fully-owned subsidiary of Fletcher Holdings.
1978 the name was changed to Fletcher Wood Products Ltd.
On 27 May 1889 a transfer of shares was made to a New Zealand Syndicate thus it may be at this date the NZ operation was formerly established. The organisation was by far the largest timber company in New Zealand and was administered by an Auckland Board. According to the prospectus, the company had a virtual monopoly of the Kauri forests and owned most of the important saw mills. The company's chief export markets were Melbourne and Sydney.
In 1903 the KTC became involved in the kahikatea trade from northern Wairoa to Australia, and in the rimu trade based in the West Taupo forests.
In 1905 the company purchased shares in Butler Bros mill and also an alliance with Ellis & Burnand Ltd
In 1920 KTC went into volunatary liquidation and reformed itself on a more modest scale. The heart of company operations was no longer in kauri.
1945 KTC purchased W Booth & Co
In June 1961 Fletcher Trust and Investment Company purchased the Kauri Timber Company's investments in a number of New Zealand companies including Butler Bros thus giving Fletchers a controlling interest in Stuart & Chapman.
By October 1961 Fletcher Trust had offered £4.10.0 per share for the Chapman and Stuart family interests. Payment was by way of Fletcher Debentures carrying 5-3/4% interest.
By February 1962 there was 100% acceptance of that offer and Stuart and Chapman Ltd. was now a fully-owned subsidiary of Fletcher Holdings.
1978 the name was changed to Fletcher Wood Products Ltd.
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