Below is the 1964/ 1965 Statement by the Chairman of Directors to Members

The period under review is the year to 31st January, 1965 during which time there have been very considerable changes in the organisation of your company. Springing from the success of our more aggressive sales policy, inaugurated by your present Directors in the previous year, we have now drastically altered the whole conception of plastic production which has involved the replanning of our entire factory and the installation of many new machines together with modern techniques of Store Keeping, Quality Control and Work Flow.

 

At the time of writing our sales are running at twice the level of last year and our order book has never been in a more healthy position. To cope with this greatly increased demand for our plastic products we have placed orders for over £30,000 worth of new machinery all of which will be in full production within three months with results which will be reflected in the future.

 

It will be appreciated that during the past year this reorganisation of your company has entailed long and arduous hours of work by all our employees and staff and I should like to pay tribute to their enthusiasm and untiring efforts to ensure that we have accomplished our targets within the prescribed time limits. It is hoped, however, that by the end of May this year this reorganisation will be completed and bearing in mind the recovery of the company’s profits to date we are pleased to recommend a Dividend of 9% and feel confident that this can be maintained during the current year as we gather the fruits of our efforts. 

 

During the year under review we have sold off a certain parts of our Land and Buildings surplus to our requirements and we are presently negotiating for the sale of other surplus areas which contribute nothing to our company’s prosperity. A professional reevaluation of our Land and Buildings at 31st January, 1965 has thrown up a surplus of £45,813 which has been placed to Capital Reserve.

 

You will observe our proposal to alter the name of our company to A. C. W. Ltd. and our reason for this is that we feel that our present name does not fully reflect the scope of our company’s activities.

 

Directors

JOHN SCOTT, 3 Ossian Road, Newlands, Glasgow, S.W., Chairman
N. V. L. BARCLAY, B.A., C.A., Rockfort, Helensburgh, Dunbartonshire, Managing Director
HUGH SMITH, Hutcheon Street, Aberdeen
CHARLES BURNS CRUICKSHANK, 18 Cromarty Avenue, Glasgow, S.3.

Bankers

NATIONAL COMMERCIAL BANK OF SCOTLAND LIMITED and BANK OF SCOTLAND, LONDON

 

Solicitors

PAULL & WILLIAMSONS, 6 Union Row, Aberdeen; and MURRAY, HUTCHINS, & CO, 11 Birchin Lane, London, E. C. 3

 

Auditors

WILLIAMSON & DUNN, C.A., 3 West Craibstone Street, Aberdeen.

Secretary

JAMES ANNAND

Source : 1964/ 1965 Chairman’s Stsatement to Members, Report and Balance Sheet