HIGHLIGHTS: APRIL 1992: Acquisition of the Stewart Steel steel merchandising branches. Sale of the ordinary shares in New Zealand Steel Limited. JUNE: Acquisition of Taylor Industries steel roofing and cladding operations. AUGUST: Acquisition by Motorcorp Holdings Limited of Jaguar wholesale cars and parts franchise for New Zealand. OCTOBER: Sale of the four remaining trading businesses of MacEwans Machinery. DECEMBER: Acquisition by Motorcorp Holdings Limited of Archibald and Shorter, Auckland, retailer of Jaguar cars. Announcement of the intended capital restructuring of Steel & Tube Holdings Limited with half the Company’s shares to be cancelled and a payment to shareholders of 60 cents for each share cancelled. Expansion of Merchandising Division computer facilities. MARCH 1993: Extraordinary meeting of shareholders approves resolutions to reduce capital and make payment to shareholders. Relocation to new premises by Steel & Tube Napier Branch. Relocation to new premises and consolidation of Motorcorp Holdings Limited whole-sale and retail activities. JUNE: Announcement of the 1992/93 profit of $12.3 million, an increase of 54% on the previous year.
