Okuma Australia Pty. Ltd. and Okuma New Zealand Limited
22-06-2007
In preparation for a proposed stand-alone entity, the company Okuma New Zealand Limited was registered with the only share holder being Okuma Australia Pty Ltd.
A critical part of the global plans of Okuma Corporation in Japan was, and still is, to nurture, improve and grow the New Zealand operations as one of the most technically rich, long standing and loyal markets for Okuma, worldwide.
In April 2005, after the first clear year of operation of the New Zealand branch, and following the completion of all measures needed in Japan for Okuma Corporation to take on a direct arrangement in New Zealand, all the shares in Okuma New Zealand Limited were transferred to Okuma Corporation, Japan from Okuma Australia Pty Ltd and Okuma New Zealand Limited commenced trading independently.
Accordingly, Okuma Australia Pty Ltd needed to complete all pre-existing transactions and its obligations on behalf of the branch structure before Okuma Australia Pty Ltd could de-list from the New Zealand corporate registry office. That is now complete.
Today we have advertised, as required, that Okuma Australia Pty Ltd will de – list in New Zealand.
Having said all that, tremendous advantages will continue to flow from what the two companies continue to share trans-Tasman to the great benefit our customers. A wider availability and range of machines and spare parts stock and factory allocations; a common accounting platform; a common corporate and product information WEB site; bi-directional access to engineering staff, CAM and in house IT services.
We would certainly like to re-confirm that Okuma New Zealand Limited is now, and has been since April 2005, a wholly owned subsidiary of Okuma Corporation in Japan.
To all who have taken a strong interest in this routine matter, we can surely confirm that Okuma, worldwide, is alive and well, particularly in New Zealand.
Philip J. Hayes
Managing Director
Okuma New Zealand Limited
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