WHO'S
WHO IN THE VICTORIAN WOODCHIP ZOO?
INDEX
JULY
24, 2001
FACT SHEET NO.2 - MIDWAYS BACKGROUND - UNCOMPLETED
VICTORIA’S
TOP WOODCHIPPER OF 2001. ( JULY 24, 2001
Old
Growth Ash being clearfelled at Mount St. Leonards, Yea River catchment
Feb. 2002. Most trees will be woodchipped. Profits funneled through
Pitcher Partners.
RONALD
GEORGE PITCHER* (Directly profiting from the woodchip exports of approximately
70,000 cubic metres of woodchips - runner up is Tim Jonas director of
Pitcher Partners and Pitcher Partners Nominees Pty Ltd).
PITCHER
PARTNERS PROFITING FROM NATIVE
FOREST DESTRUCTION.
*(Mr
Pitcher resigned his directorship of Pitcher Partners on August 2, 1999,
one month after some of his woodchipping interests were revealed in
the Friends of the Earth Fitzroy Newsletter, yet it is our belief that
Mr Pitcher and Pitcher Partners are still profiting from the woodchipping
and destruction of large tracts of Victorian native forests. Mr Pitcher remains a director of Pitcher Partner
Nominees Pty Ltd and several other companies profiting from the destruction
of native forest).
Interestingly
Pitcher Partners were auditors of Midways, whilst Ron Pitcher was both
a director of Pitcher Partners and director of Midways largest shareholder
company - Chebmont Pty Ltd .
Pitcher
Partners continue to audit Midways Pty Ltd even though several of Pitcher
Partners directors are also directors of Pitcher Partners Nominees Pty
Ltd. Those directors are
Tim Jonas, Keith Hall, Colin Tatterson and Gregory Blashki.
Pitcher Partners Nominees Pty Ltd are the sole shareholders of
Chebmont Pty Ltd, Midways largest shareholder.
Pitcher
Partners continue to audit JL Gould's Pty Ltd, Acheron Investments Pty
Ltd and JLG Marysville Pty Ltd,
Chebmont Pty Ltd all of which are linked to Pitcher Partner Nominees
Pty Ltd through shareholdings.
Pitcher
Partners are an chartered accountancy firm that broke away from KPMG
in 1991. The company’s current
proprietors are, Michael John Langhammer, Michael Charles Hay, Stephen
Schonberg, Frank Zahra, Tim Arthur Jonas, Terrence John Benfold, Gregory
Errol Blashki, Sidney Peter Catlin, Adrian Robert Fitzpatrick, Neil
James Flavel, Keith Robert Hall, Donald Bruce Rankin, Robert Rigoni,
Peter Thomas Riley, Ian Duff Stewart, Colin James Tatterson, Geoffrey
Edward Walsh, Matthew William Pringle, Giuseppe Michelle Rambaldi, Raymond
Cummings, David Andrew Thomson, David Andrew Knowles.
RONALD
PITCHER'S WOODCHIPPING BIOGRAPHY
Mr
Pitcher profits from Midways Pty Ltd who export over 300,000 cubic metres
of Victorian native forest woodchips and Fibre Exports Pty Ltd who export
130,000 cubic metres of Victorian native forest woodchips each year.
He also profits from his long standing directorship of JL Gould’s
sawmill in Marysville.
Director: JLGould's Sawmill since 29/1/57.
(Co director with John Gould)
Secretary: JL Gould's Sawmill since 16/5/84.
(Sawmill located at Marysville).
Appointed Auditor: Pitcher Partners since 18/11/91.
Ultimate Holding Company: JLG Marysville Holdings Pty Ltd
Shares
owned by Acheron Investments Pty Ltd.
Director: Acheron Investments Pty Ltd since 21/4/60.
Secretary: Acheron Investments Pty Ltd since 1/11/84
Address: C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne,
Vic, 3000.
Appointed Auditor: Pitcher Partners since 18/11/91.
Acheron
Investments Pty Ltd are one third shareholders of Victoria's newest
woodchip mill. Fibre Exports
Pty Ltd. The other shareholders
in Fibre Exports Pty Ltd are Associated Kiln Driers Pty Ltd and Neville
Smith Group Pty Ltd. Ultimate
Holding Company for Acheron Investments Pty Ltd are JLG (Marysville)
Holdings Pty Ltd.
Director and Secretary: JLG (Marysville) Holdings Pty Ltd since 5/12/77.
Co director with John Gould.
Address: C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000
Appointed Auditor: Pitcher Partners since 18/11/91.
JLG
(Marysville) Pty Ltd two shareholders are Pepido Pty Ltd and Dalmalee
Pty Ltd.
Director and Secretary: Pepido Pty Ltd since 11/11/97
Co director with John Gould
Address: C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000
Both shares in Pepido Pty Ltd owned by Pitcher Partner Nominees Pty Ltd of which Ronald Pitcher became a member on 14/2/91. Mr Pitcher was a director from 29/10/73 and secretary from 7/8/80.
Director
of Pepido Pty Ltd for 3 months in 1997 was Colin Tatterson, partner
in Pitcher Partners.
Co director with John Gould
Address: C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000
Both
shares in Dalmalee Pty Ltd owned by Pitcher Partners Nominees Pty Ltd
of which Ronald Pitcher became a member on 14/2/91. Mr Pitcher was a director of Pitcher Partner
Nominees Pty Ltd from 29/10/73 and secretary from 7/8/80.
Director and Secretary: Chebmont Pty Ltd since 6/7/88.
Chebmont Pty Ltd are the largest shareholders of Midway Pty Ltd. Midway Pty Ltd export over 300,000 cubic metres of woodchips from Geelong each year. (Interestingly Pitcher Partners have been auditors of Midway Pty Ltd since 27/11/97). Chebmont Pty Ltd own 150959 shares in Midway Pty Ltd about 36% of Midway's total. Pitcher Partners are also auditors for Chebmont Pty Ltd.
Co directors with 4 others including Thorry Gunnersen*.
All
7 shares of Chebmont Pty Ltd are owned by Pitcher Partners Nominees
Pty Ltd of which Ronald Pitcher became a member on 14/2/91.
Mr Pitcher was a director from 29/10/73 and secretary from 7/8/80.
Director of Pitcher Partners Nominees Pty Ltd since 29/10/73 and Secretary since 7/8/80.
Co director with Tim Jonas, Keith Hall, Colin Tatterson and Gregory Blashki.
Address: Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000.
5
ordinary shares owned by Ronald Pitcher (2), Tim Jonas (2) and Keith
Hall (1).
Pitcher
Partners are the nominated business address of several other shareholders
in Midways including; Alex Demby Timber Co. Pty Ltd, McCormack Timbers (Erica) Pty Ltd,
McCormack Timbers (Broadford) Pty Ltd, McCormack Timbers Pty Ltd, McCormack
Timbers Pty Ltd Staff Superannuation Fund,
and Chebmont Pty Ltd.
*Thorry
Gunnersen and Ronald Pitcher share directorships in about 20 companies,
stretching back to 1947. when
both men became directors of Gunnersen Investments. (Interestingly Gunnersen was also made a director
of Gould Harvesting Pty Ltd in 1995).
In
1879 Gunner Gunnersen arrived in South Australia from Norway and created
a sawmilling operation in South Australia. The business later expanded into Victoria where
a partnership was created with the Alstergren, LeMessurier and Nosworthy
families. These families created
a softwood business which was sold to CSR in 1988 for $140 million. Apparently the Gunnersen's made $30 million
profit from the 1988 deal. At
about this time, Gunnersen became the 'target' of conservationists fighting
the importation of rainforest timber from Malaysia, a trade which was
cut by 70% in 5 years.
The Gunnersen's are amongst the most wealthy families in Australia. Thorry Gunnersen has been amongst other things President of the World Forestry Centre in Portland Oregon and President of the National Association of Forest Industries - a woodchipping lobby group which has successfully lobbied the federal government to increase woodchipping from native forests and relax export controls on the exportation of woodchips (eg Regional Forest Agreements). Thorry is the only director of NAFI that has been involved with the group since its inception in 1986.
25/7/01
C/- 312 Smith Street, Collingwood, 3066.
Friends of the Earth Forest Network
Ph: (03) 9419 8700
Fax: (03) 9416 2081
Ethics Officer - Institute of Chartered Accountants
Level 10,
600
Bourke Street, Melbourne, Victoria, 3000.
Dear
,
I
am writing to you in regard to concerns I have about the activities
of accountants associated with the Chartered Accountancy firm Pitcher
Partners. My main concern in
the past has been the activities of Ronald George Pitcher, however I
also have issues with other proprietors of Pitcher Partners. These concerns relate to the relationship of Pitcher Partners in
regard to the interests of several timber and woodchipping operations
operating throughout Victoria.
I
also want to raise your attention to the issue of Audit Independence,
more specifically the Statement of Audit Independence prepared by the
Auditing and Assurance Standards Board of the Australian Accounting
Research Foundation - Issued by the Australian Accounting Research Foundation
on behalf of the Australian Society of Certified Practising Accountants
and The Institute of Chartered Accountants in Australia - dated February
1999.
In
regards to Page 2 of that document it states;
“3
Statement of Auditing Standards
AUS 1 requires auditors to be:
‘...straightforward,
honest and sincere in their approach to their professional work.
They must be fair and must not allow prejudice or bias to override
their objectivity. They shall maintain an impartial attitude and
both be, and appear to be, free of any interest which might be regarded
, whatever its actual effect, as being incompatible with integrity and
objectivity.’
Audit
Independence
6
The concept of independence is fundamental to auditing, since
the auditor’s objective is to enhance, through the expression of an
independent opinion, the credibility of the reported financial information
of an entity. The value of the independent audit lies both
in the fact that the auditor is, and is seen to be, independent of the
audited entity, and hence is able to carry out the audit free of any
externally imposed constraints.
7
The professional ethical pronouncements of the Australian Society
of Certified Practising Accountants (the Society) and The Institute
of Chartered Accountants in Australia (the Institute) define independence
as a freedom from any interest incompatible with integrity and objectivity.
8
Independence requires a freedom from bias, personal interest,
prior commitment to an interest, or susceptibility to undue influence
or pressure, any of which could lead to a belief that the audit opinion
was determined other than by reference to the facts of the audit alone.
10
Whatever the cause of a lack of actual independence or a perceived
lack of independence, it can be damaging to the role of the auditor
and ultimately to the credibility of the financial report on which the
auditor is expressing an opinion. Perceived independence may not be achieved,
even though actual independence has been maintained, due to various
factors, such as confusion over the facts of a particular situation
or a lack of public appreciation of the role of auditing.
11
The auditor should be able to clearly demonstrate independence
and should not act in a manner which may cast doubt on independence.
I
believe that there are two export woodchip companies where the role
of Pitcher Partners could be seen to be overstepping the mark in relation
to auditors independence.
These
companies are;
1. Midway Pty Ltd
2.
Fibre Exports Pty Ltd.
Midway
Pty Ltd are an export woodchip facitlity based in Geelong.
They currently export over 300,000 cubic metres of woodchips
from Corio Bay to Japan. They have been operating since the early eighties.
They are made up of shareholders from sawmilling companies across
Victoria. Up until the late nineties they were the only
woodchip mill operating in Australia, not under the control of a multi-national
company, meaning that profits generated by the company were ‘shared’
between a relatively small group of shareholders.
Midway
Pty Ltd have some 448678 shares issued. Chebmont Pty Ltd are the largest shareholders
of Midway Pty Ltd. Chebmont Pty Ltd own 150959 shares in Midway Pty
Ltd about 36% of Midway's total.
Ronald George Pitcher has been both Director and Secretary of Chebmont Pty Ltd since 6/7/88. Co directors of Chebmont Pty Ltd include Thorry Gunnersen*. Pitcher Partners have been auditors of Midway Pty Ltd since 27/11/97. All 7 shares of Chebmont Pty Ltd are ‘controlled’ by Pitcher Partners Nominees Pty Ltd of which Ronald Pitcher became a member on 14/2/91. Mr Pitcher has been a director of Pitcher Partner Nominees since 29/10/73 and secretary from 7/8/80.
Addition
- January 2002 (not in original letter) - Pitcher Partners have been
auditors of Chebmont Pty Ltd since 29/11/91 - Midways largest shareholder.
This means that Pitcher Partners audit both the company and the company's
largest shareholder, whilst being the controlling entity of these shares
through Pitcher Partner Nominees".
Pitcher
Partners were auditors of Midways, whilst Ron Pitcher was both a director
of Pitcher Partners, a director of Pitcher Partner Nominees Pty Ltd
and director of Midways largest shareholder company - Chebmont
Pty Ltd. Mr Pitcher resigned his directorship of Pitcher
Partners on August 2, 1999, one month after some of his woodchipping
interests were revealed in the Friends of the Earth Fitzroy Newsletter,
yet it is evident that Mr Pitcher still plays an active role in Chebmont
Pty Ltd through his interests in Pitcher Partners Nominees Pty Ltd.
Pitcher
Partners continue to audit Midways Pty Ltd even though several of Pitcher
Partners directors are also directors of Pitcher Partners Nominees Pty
Ltd, the sole shareholder of Chebmont Pty Ltd and hence the largest
shareholder in Midway Pty Ltd. Those
Pitcher Partner directors are Tim
Jonas, Keith Hall, Colin Tatterson and Gregory Blashki. Ron Pitcher remains a director of Pitcher Partner
Nominees Pty Ltd with himself, Tim Jonas and Keith Hall being the sole
shareholders of Pitcher Partner Nominees Pty Ltd. I remain unconvinced that the concept of ‘chinese walls’ is at work
at Pitcher Partners.
Pitcher
Partners are the nominated business address of several other shareholders
in Midways including; Alex Demby Timber Co. Pty Ltd, McCormack Timbers (Erica) Pty Ltd,
McCormack Timbers (Broadford) Pty Ltd, McCormack Timbers Pty Ltd, McCormack
Timbers Pty Ltd Staff Superannuation Fund,
and Chebmont Pty Ltd.
I
am unsure whether Pitcher Partners are the auditors for these companies
at the present time, although from information gained in 1994, it would
appear that Pitcher Partners were the auditors for McCormack Timbers
and McCormack Holdings Pty Ltd in 1994.
McCormack groups of companies currently ‘control’ 99816 shares
in Midway Pty Ltd - about 22% of Midway shares.
2.
Fibre Exports Pty Ltd.
Fibre
Exports Pty Ltd is a new export woodchip facility based in Geelong.
It takes about 135,000 cubic metres of woodchips largely from
the Central Highlands region each year.
Fibre
Exports Pty Ltd have three shareholders with 45 shares each.
Shareholders are; Acheron Investments Pty Ltd, Associated Kiln
Driers Pty Ltd and Neville Smith Group Pty Ltd.
Ron Pitcher has been a director of Acheron Investments Pty Ltd since 21/4/60 and secretary since 1/11/84.
Registered
Address for Acheron Investments Pty Ltd is: C/- Pitcher Partners, Level 6, 161 Collins
Street, Melbourne, Vic, 3000.
Pitcher
Partners have been auditors of Acheron Investments Pty Ltd since 18/11/91.
The Ultimate Holding Company for
Acheron Investments Pty Ltd are JLG (Marysville) Holdings Pty Ltd.
Ron Pitcher has been director and secretary of JLG (Marysville) Holdings Pty Ltd since 5/12/77.
His
co-director is John Gould. (Pitcher and Gould have another business called JLGould's Sawmill
Pty Ltd, where Pitcher is director and secretary. The mill is based in Marysville. Appointed Auditor is Pitcher Partners,
Ultimate Holding Company is JLG Marysville Holdings Pty Ltd, with shares
owned by Acheron Investments Pty Ltd).
JLG (Marysville) Holdings Pty Ltd business address is Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000. Once again the appointed auditor is Pitcher Partners (since 18/11/91).
JLG
(Marysville) Pty Ltd has two shareholder companies being Pepido Pty
Ltd and Dalmalee Pty Ltd.
Ron Pitcher has been a director and secretary of Pepido Pty Ltd since 11/11/97. His co-director is John Gould. Business address is C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000
Both
shares in Pepido Pty Ltd owned by Pitcher Partner Nominees Pty Ltd of
which Ronald Pitcher became a member on 14/2/91. Mr Pitcher has been a director of Pitcher Partner
Nominees Pty Ltd from 29/10/73 and secretary from 7/8/80. Director of Pepido Pty Ltd for 3 months in
1997 was Colin Tatterson, partner in Pitcher Partners.
Ron Pitcher has also been a director and secretary of Dalmalee Pty Ltd since 6/9/77. His co-director is John Gould. Business address is C/- Pitcher Partners, Level 6, 161 Collins Street, Melbourne, Vic, 3000
Both
shares in Dalmalee Pty Ltd owned by Pitcher Partners Nominees Pty Ltd
of which Ronald Pitcher became a member on 14/2/91. Mr Pitcher was a director of Pitcher Partner
Nominees Pty Ltd from 29/10/73 and secretary from 7/8/80.
Pitcher
Partners continue to audit JL Gould's Pty Ltd, Acheron Investments Pty
Ltd and JLG Marysville Pty Ltd,
all of which are linked through to Pitcher Partner Nominees Pty Ltd.
Ultimately the paper trail for all of these companies ends with Pitcher
Partners Nominees Pty Ltd. As
is the case with Midways, 4 other directors of Pitcher Partners, Tim
Jonas, Keith Hall, Colin Tatterson and Gregory Blashki are along with
Ron Pitcher, directors of Pitcher Partner Nominees Pty Ltd, with Ron
Pitcher, Tim Jonas and Keith Hall being the sole shareholders of Pitcher
Partner Nominees Pty Ltd.
This
appears to be a rather odd chain of events, with one third of the Fibre
Exports’ shareholders being audited by some of the same individuals
who are directors of the company profiting most from the woodchipping,
namely Pitcher Partner Nominees Pty Ltd.
No
auditor has as yet been appointed for Fibre Exports Pty Ltd as they
are a newly registered woodchip company, although their business address
is listed as Pitcher Partners.
Pitcher
Partners are an chartered accountancy firm that broke away from KPMG
in 1991. The company’s current
proprietors are, Michael John Langhammer, Michael Charles Hay, Stephen
Schonberg, Frank Zahra, Tim Arthur Jonas, Terrence John Benfold, Gregory
Errol Blashki, Sidney Peter Catlin, Adrian Robert Fitzpatrick, Neil
James Flavel, Keith Robert Hall, Donald Bruce Rankin, Robert Rigoni,
Peter Thomas Riley, Ian Duff Stewart, Colin James Tatterson, Geoffrey
Edward Walsh, Matthew William Pringle, Giuseppe Michelle Rambaldi, Raymond
Cummings, David Andrew Thomson, David Andrew Knowles.
*Thorry
Gunnersen and Ronald Pitcher share directorships in about 20 companies,
stretching back to 1947. when
both men became directors of Gunnersen Investments. (Interestingly Gunnersen was also made a director
of Gould Harvesting Pty Ltd in 1995).
In
1879 Gunner Gunnersen arrived in South Australia from Norway and created
a sawmilling operation in South Australia. The business later expanded into Victoria where
a partnership was created with the Alstergren, LeMessurier and Nosworthy
families. These families created
a softwood business which was sold to CSR in 1988 for $140 million. Apparently the Gunnersen's made $30 million
profit from the 1988 deal. At
about this time, Gunnersen became the 'target' of conservationists fighting
the importation of rainforest timber from Malaysia, a trade which was
cut by 70% in 5 years.
The
Gunnersen's are amongst the most wealthy families in Australia.
Thorry Gunnersen has been amongst
other things President of the World Forestry Centre in Portland Oregon
and President of the National Association of Forest Industries - a woodchipping
lobby group which has successfully lobbied the federal government to
increase woodchipping from native forests and relax export controls
on the exportation of woodchips (eg Regional Forest Agreements).
Thorry is the only director of NAFI that has been involved with
the group since its inception in 1986.
I
hope that you will investigate these issues further. I do not make these claims lightly. I look forward to hearing from you in the near
future about the issues I have raised in this letter, with details about
further possible actions taken by the Institute of Chartered Accountants
about these matters.
I
include photocopies of recent Australian Securities Commission Documents
relating to the following companies;
1. Midway Pty Ltd. ACN: 005 616 044
2. Chebmont Pty Ltd. ACN: 007 027 278
3. Fibre Exports Pty Ltd. ACN: 094 192 131
4. J.L.G. (Marysville) Holdings Pty Ltd ACN: 005 402 068
5. Acheron Investments ACN: 004 471 630
6. Pepido Pty Ltd ACN: 079 578 519
7. Dalmalee Pty Ltd ACN: 005 378 334
8. Pitcher Partners Business Number: 1021540T
9.
Pitcher Partners Nominees Pty Ltd
ACN: 004 419 176
I
also include older ASC information regarding;
10. J.L.Gould Sawmills Pty Ltd ACN: 004 371 322
11.
McCormack Timbers Pty Ltd ACN: 005
203 869
Yours
truly,
Additional
Information sent 29 August 2001.
“I
can confirm that Pitcher Partners have been auditors of McCormack Timbers
(Erica) Pty Ltd, McCormack Timbers (Broadford) Pty Ltd and McCormack
Timber Holdings Pty Ltd since 18/11/91 and auditors of McCormack Timbers
Pty Ltd since 30/11/93. Pitcher
Partners continue to audit these companies.
It
appears that Pitcher Partner Nominees have no shares in their control
from the McCormack group of companies. Shares in McCormack Timbers (Erica) Pty Ltd and McCormack Timbers
(Broadford) Pty Ltd are almost all exclusively owned by McCormack Timber
Holdings Pty Ltd who are audited by Pitcher Partners.
Nevertheless it still seems curious to me that Pitcher Partners audit both Midway Pty Ltd, plus the business activities of Midway Pty Ltd’s largest shareholders, those being Chebmont Pty Ltd and the McCormack group of companies, whilst at the same time being the largest shareholder of Chebmont Pty ltd through Pitcher Partner Nominees.
MIDWAYS
BACKGROUND - UNCOMPLETED
Incorporated: 18/1/80.
Registered Office: 56 Hesse Street, Colac.
Directors: Suzanne Earl - 11 Colvin Grove, Hawthorn.
Henry Peter Steel - (Solicitor) High Street,
Woodend.
Both Suzanne Earl and Henry Steel resigned on the 18/1/80.
Replaced by: Douglas Keith Cowan - 47 Harris Road, Elliminyt (18/1/80)
Lloyd Richard Balwin - 11 Airdrie Street, Colac (18/1/80).
Both Douglas Cowan and Lloyd Balwin are public accountants.
Both
resigned on 18/2/80.
Replaced by: Lawrence Campbell Bennett, Hesse Street, Colac on 18/2/80.
Midways did not trade in 1980. Profit $50.86. Income tax:
$43.84
900 shares issued.
Original Shareholders and Directors- 24/12/80
Name Shares % Address
WH Bennett and Sons 100 11.1 56 Hesse Street, Colac
Black Forest Sawmills 100 11.1 81 Rose Street, Essendon
Calco Sawmilling 100 11.1 56 Hesse Street, Colac
Eureka Timber 100 11.1 Charlesworth Street, Ballarat
McCormacks Timber (Broadford) 100 11.1 71 Somers St, Burwood
Ogden Sawmilling 100 11.1 26-28 East St, Daylesford
HR & NF Olsen 100 11.1 Bullarto
ME and EC Thiele 100 11.1 Avoca
A Woodward (Forest Products) 100 11.1 17 Lydiard Street, Ballarat
Directors
Donald Henry Woodward, Russell William Colless, John Joseph Corrigan,
Gregory Henry McCormack, Allan Ogden, Harold Roy Olsen
Allan Gilbert Proctor, Lawrence Bennett
31/12/81.
Midway at this time was trading in the capacity of Residual Wood
Products Marketing Consultants.
Net Profit $12.38. Income Tax: $10.12.
New shareholders: ET & EW Murnane - 50 Moore Street, Colac.
20/12/82.
Same directors as 1981. Net Profit $463.57. Income Tax
$394.22
Trade and Sundry Debtors: $15,690.57. Sundry Creditors:
$17,205
Shareholders and Directors 8/12/83.
Shares increased from 900 to 1200.
Name Shares % Address
WH Bennett and Sons 100 8.33 56 Hesse Street, Colac
Black Forest Sawmills 100 8.33 81 Rose Street, Essendon
Calco Sawmilling 100 8.33 56 Hesse Street, Colac
Eureka Timber 100 8.33 Charlesworth Street, Ballarat
McCormacks Timber (Broadford) 100 8.33 71 Somers St, Burwood
Ogden Sawmilling 100 8.33 26-28 East St, Daylesford
HR & NF Olsen 100 8.33 Bullarto
ME and EC Thiele 100 8.33 Avoca
A Woodward (Forest Products) 100 8.33 17 Lydiard Street, Ballarat
ET & EW Murnane 100 ???
Lloyd Colin Brunt/Mervin Brunt 100 8.33 Barongarook
Alan Francis Frizon 100 8.33 Forrest
Edward Babington Brothers 100 8.33 Lorne
Directors
Donald Henry Woodward, Russell William Colless, John Joseph Corrigan,
Gregory Henry McCormack, Murnane, Harold Roy Olsen
Allan Gilbert Proctor, Lawrence Bennett
9/11/84
Net Profit $834.72. Assets: $2863. Same shareholders
and directors
as 1983.
Shareholders and Directors 8/11/85
Address for Midways moves from Colac to Geelong. Marketers of
residual
wood products. Midway began exporting at around this time.
Nominal share capital: $250 000 - $38,810 in shares taken up.
Cash on hand $56,941
Trade and sundry debtors: $23,283.
Net loss of $12,125.
On 10/12/85, Midway was in Mortgage Debenture to the VEDC. (Details
sketchy).
Name Shares % Address
WH Bennett and Sons 7208 18.6 56 Hesse Street, Colac
Black Forest Sawmills 100 0.26
81 Rose Street, Essendon
Calco Sawmilling 2602 6.7 56 Hesse Street,
Colac
McCormacks Timber (Broadford) 100 0.26
71 Somers St, Burwood
HR & NF Olsen 100 0.26 Bullarto
ME and EC Thiele 100 0.26 Avoca
A Woodward (Forest Products) 100 0.26
17 Lydiard Street, Ballarat
ET & EW Murnane 6429 16.6 Colac
Lloyd Colin Brunt/Mervin Brunt 1800 4.6 Barongarook
Alan Francis Frizon 1503 3.9 Forrest
Edward Babington Brothers 240 0.62 Lorne
JJ Corrigan Nominees 3168 8.16 Ballarat
WH Micah & Sons 2160 5.6 Erica
Victree 5400 13.9 Colac
Marbut - Gunnerson 5760 14.8 Port Melbourne/Murrundindi
Alex Demby 2040 5.2
Total 38,810 (Over 60% of
shareholders based in Otways).
(Gunnersen/McCormack - 15.06%)
Directors
Russell William Colless, John Joseph Corrigan, Gregory Henry McCormack,
Erick Murnane, Harold Roy Olsen, Allan Gilbert Proctor, Robert Bennett
Shareholders and Directors 14/11/86.
$63, 448 worth of shares taken up.
Current Assets: $875,838
Current Liabilities: $918,347
Share Capital: (162 500)
other assets: $691,501
other liabilities: $811,492
Net Tangible Assets: $163,243
Operating Profit: $214,876.
Midways began exporting woodchips 27/8/86.
Name Shares % Address
WH Bennett and Sons 7208 9.9 56 Hesse Street, Colac
Black Forest Sawmills 6732 9.2 81 Rose Street, Essendon
Calco Sawmilling 2602 3.6 56 Hesse Street, Colac
McCormacks Timber (Broadford)
1508 2.1 71 Somers St, Burwood
McCormack Timber (Erica) 3730 5.1 Erica
HR & NF Olsen 1260 1.7 Bullarto
ME and EC Thiele 1188 1.6 Avoca
ET & EW Murnane 6529 8.9 Colac
Lloyd Colin Brunt/Mervin Brunt 1800 2.5 Barongarook
Alan Francis Frizon 1503 2.1 Forrest
Edward Babington Brothers 240 0.3 Lorne
JJ Corrigan Nominees 3168 4.3 Ballarat
WH Micah & Sons 2160 2.9 Erica
Victree 5400 7.4 Colac
Marbut - Gunnerson 5760 7.9 Port Melbourne/Murrundindi
Alex Demby 2040 2.8 Lilydale
A.Dunstan Timber Sales* 8100 11.1 Wodonga
WTP Portland 2520 3.4 Portland
Total 63,448 (34.7% shareholders
Otway based)
* Largest Shareholders (Gunnersen-McCormack - 15.1%)
Directors
Russell William Colless, John Joseph Corrigan, Gregory Henry McCormack,
Erick Murnane, Allan Gilbert Proctor, Robert Bennett
Peter Gunnersen
Directors 30/6/87
73028 shares issued
Directors
Russell William Colless, John Joseph Corrigan, Gregory Henry McCormack,
Erick Murnane, Allan Gilbert Proctor, Robert Bennett
Peter Gunnersen, Joseph Bruce Maynard - c/- Dunstan & Sons Wodonga.
Shareholders and Directors 30/6/88
Name Shares % Address
WH Bennett and Sons 24675 9.87 56 Hesse Street,
Colac
Black Forest Sawmills 23046 9.22 81 Rose Street, Essendon
Calco Sawmilling 8908 3.56 56 Hesse Street,
Colac
McCormacks Timber (Broadford)
13556 5.42 71 Somers St,
Burwood
McCormack Timber (Erica) 12769 5.11 Erica
HR & NF Olsen 4313 1.72 Bullarto
ME and EC Thiele 4067 1.63 Avoca
ET & EW Murnane 22352 8.94 Colac
Lloyd Colin Brunt/Mervin Brunt 6162 2.46 Barongarook
Alan Francis Frizon 5145 2.06 Forrest
Edward Babington Brothers 822 0.33 Lorne
JJ Corrigan Nominees 10845 4.34 Ballarat
WH Micah & Sons 7394 2.96 Erica
Victree 18486 7.39 Colac
Marbut - Gunnerson 36109 14.44 Port
Melbourne/Murrundindi
Alex Demby 6984 2.79 Lilydale
A.Dunstan Timber Sales 27729 11.09 Wodonga
WTP Portland 8627 3.45 Portland
Stoll Bros 8011 3.2 Rokeby
Total (34.61% shareholders Otway based)
(Gunnersen-McCormack 24.97%)
Directors
Russell William Colless, John Joseph Corrigan, Gregory Henry McCormack,
Erick Murnane, Allan Gilbert Proctor, Robert Bennett
Peter Gunnersen, Andrew Field Showers - 'Porepunkah' 3740.
30/6/89
Current Assets: $2,729,016
Current Liabilities: $3,756,271
Shareholders and directors the same as 1988.
30/7/90
VEDC loan paid up, but Midways had a mortgage with ANZ Bank - Collateral
security advance of $777,000.
1991. Export Licence Details
Midways export licence was for 170,000 tonnes sourced from over 80
sawmills throughout Victoria and NSW. The licence stated that
from the
170,000 tonnes, no more than 30,000 tonnes would be silvicultural
thinnings. Negotiated to increase to 250 000 tonnes for 1992.
Licence to Export Unprocessed Wood. Mepwood 514 signed by Minister
Alan
Griffiths from 1/1/91 to 31/12/91 - Total of 170 000 tonnes.
Directors and Shareholders 19/7/91
Name Shares % Address
WH Bennett and Sons 28028 11.21 13 Dennis Street,
Colac
Black Forest Sawmills 26175 10.47 RMB 1010, Calder Hy,
Woodend
Calco Sawmilling 10118 4.04 13 Dennis Street,
Colac
McCormacks Timber (Broadford) 15396
6.16 P/L 1578 Centre
Road, Springvale
McCormack Timber (Erica) 14502 5.80 P/L 1578 Centre
Road, Springvale
N Olsen 4313 1.72 Bullarto
ME and EC Thiele 4619 1.85 320
High Street, Avoca
ET & EW Murnane 25391 10.16 13 Dennis Street, Colac
LC & ML Brunt 6999 2.79 58
Tulloh, St Elliminyt
Alan Francis Frizon 5145 2.06
Forrest
Edward Babington Brothers 933
0.37 Lorne
JJ Corrigan Nominees 12318 4.93 1 Charlesworth
St, Ballarat
WH Micah & Sons 8317 3.32
P/L Thompson Valley Rd, Erica
Victree Timber 20995 8.39 P/L 188 Blackshaws
Road, Altona North
Marbut - Gunnerson 41011 16.40 112 Salmon St, Port Melbourne
Alex Demby Timber Co 7931 3.17 Maroondah
Hwy, Lilydale
WTP Portland 9798 3.92 P/L 112
Kepler St, Warrnambool
Stoll Bros 8011 3.20 Main
Road, Rokeby
Total (39.02% shareholders Otway based)
(Gunnersen-McCormack 28.36%)
Directors
John Joseph Corrigan, Gregory Henry McCormack, Eric Thomas Murnane,
Allan Gilbert Proctor, Robert George Bennett, Peter Ronald Gunnersen,
David Lawrence Colless
Current assets $2,011,998 Current Liabilities
$2,986,348
other assets $2,134,935 other liabilities
$ 9,362
net tangible assets $1,151,223 share capital and reserves
$1,151,223
Operating profit and extraordinary items after income tax
$716,858
Directors 21/12/1992
Export licence renewed January 1992 for 170 000 tonnes.
Share structure the same as 1991.
Directors
Robert George Bennett, David Lawrence Colless, John Joseph Corrigan,
John Alexander Berwick Faulkner, Peter Ronald Gunnersen
Gregory Henry McCormack, Eric Thomas Murnane, Allan Gilbert Proctor,
John Frederick Lauchlan Wright
Export licence details 1993 (uncompleted)
Licence to Export Unprocessed Wood signed by Michael Lee for year
18/11/93 to 18/11/94;
Licence Number: Mepwood 870 - 47 000 tonnes from lower graded
logs
purchased from lower graded logs purchased from the Midlands Forest
Management Area in the State of Victoria under the Victorian Department
of Conservation and Natural Resources Licence S000271.
Other details of licences missing
Directors and Shareholders 16/12/93
Name Shares % Address
WH Bennett and Sons 29967 11.98 13 Dennis Street,
Colac
Black Forest Sawmills 27327 10.93 RMB 1010, Calder Hy,
Woodend
Calco Sawmilling 10818 4.33 13 Dennis Street,
Colac
McCormacks Timber (Broadford) 16461
6.58 P/L 1578 Centre
Road, Springvale
McCormack Timber (Erica) 15506 6.20 P/L 1578 Centre
Road, Springvale
N Olsen 4313 1.73 1 Jamieson
St, Daylesford.
ME and EC Thiele 4938 1.97 320
High Street, Avoca
ET & EW Murnane 27148 10.86 13 Dennis Street, Colac
LC & ML Brunt 7484 2.99 58
Tulloh, St Elliminyt
Edward Babington Brothers 997
0.39 Lorne
JJ Corrigan Nominees 13169 5.27 1 Charlesworth
St, Ballarat
WH Micah & Sons 8892 3.56
P/L Thompson Valley Rd, Erica
Victree Timber 22447 8.98 P/L 188 Blackshaws
Road, Altona North
Marbut - Gunnerson 43849 17.54 112 Salmon St, Port Melbourne
Alex Demby Timber Co 8480 3.39 Maroondah
Hwy, Lilydale
Stoll Bros Pty Ltd 8204 3.28 Main
Road, Rokeby
Total (39.53% shareholders Otway based)
(Gunnersen-McCormack 30.32%)
Directors
Robert George Bennett, Stuart Hamilton Bennett, David Lawrence Colless,
Russell William Colless, John Joseph Corrigan, John Leonard Corrigan,
Gary Arthur Demby, John Alexander Berwick Faulkner (Sec), Peter Ronald
Gunnersen, Thorald Harvey Gunnersen, Glen Robert Higgins (Kyneton),
Gregory Henry McCormack, Ronald Francis McCormack, Eric Thomas Murnane
Michael Wallace Murnane, Allan Gilbert Proctor, Geoffrey Mark Proctor,
John Frederick Lauchlan Wright
Export Licence Details 1994 (Uncompleted)
Midway have three federal export licences through the Department of
Primary Resources to export 330 000 tonnes of woodchips per year sourced
from "sawmill and silvicultural residues from private forests"
and
"logging, silvicultural and sawmill residues from crown lands
and
private forests"
19/12/94 - Licence to Export Unprocessed Wood for 1/1/95 to 31/12/95,
signed by David Beddall;
*Licence Number: Mepwood 1039 - Midway Wood Products Pty Ltd
- 64 000
tonnes from lower graded logs purchased from the Midlands Forest
Management Area in the State of Victoria under the Victorian Department
of Conservation and Natural Resources. Licence S000271.
*Licence Number: Mepwood 1091 - Midway Wood Product Pty Ltd
- 170 000
tonnes from sawmill residues and silvicultural thinnings from private
property in Victoria.
*Sometime in 1994 Midways took up another export licence - 96 000
tonnes
sourced from logging, silvicultural and sawmill residues from crown
and
private forests. This licence had an expiry date of 30/6/95.
Total = 330 000 tonnes.
Shareholder details the same as 1993.
Export licence details 1995.
On 1/12/95 the following export licence was granted for Midways -
Source
RFA Documents. (Please note there is some confusion over the
exact
licence details for this period, with two different licence
arrangements!?)
47 500 tonnes from the Central Highlands
47 500 tonnes from Western Victoria
47 500 tonnes from Gippsland
100 000 tonnes from East Gippsland
This totalled 290 000 tonnes. (Stage one licence (80% of 290
000
tonnes) = 232 000).
On 31/12/95 Midways was granted a follow on licence from 1994
of 330
000 tonnes
3 seperate licences consisting of;
170 000 tonnes
An additional 96 000 tonnes (approved in 1994)
An additional licence of 64 000 tonnes.
Whether this means that two seperate licences were going on at the
same
time I'm unsure.
11/6/96
>>From press release 11/6/96. "On Tuesday, Primary
Industries Minister
John Anderson granted five new woodchip export licences for 1996
totalling some 415 000 tonnes of native forest wood . . . The new
licences include an additional 50 000 tonnes to Midway", although
it
wasn't specified where the 50 000 tonnes would come from.
On 31/10/96 Resources Minister John Anderson granted the following
licences totalling 400 000 tonnes.
250 000 tonnes to be sourced from sawmill residues, silvicultural
thinnings + other.
150 000 tonnes sawmill residues and silvicultural thinnings.
Export woodchip licences.
Current at 25/5/98 until present day.
300 000 tonnes per annum - Softwood from private plantations/pulplogs,
thinnings and sawmill residues. Duration 1/4/97 to 31/12/99.
Licence
Type: unprocessed wood regulations.
Midways Wood Products Pty Ltd:
149 000 tonnes per annum - Hardwood woodchips from native forests.
Transitional Licence from 2/9/97 to 31/12/99. From Central Highlands
Victoria Region.
182 000 tonnes per annum - Hardwood woodchips from native forests.
Transitional Licence from 2/9/97 to 31/12/99. From West Victoria
Region.
24 000 tonnes per annum - Hardwood woodchips from native forests.
Transitional Licence from 2/9/97 to 31/12/99. From North East
Victoria
Region.
35 000 tonnes per annum - Hardwood woodchips from native forests.
Transitional Licence from 2/9/97 to 31/12/99. From Gippsland
Victoria
Region.
10 000 tonnes per annum - Hardwood woodchips from native forests.
Transitional Licence from 1/1/97 to 31/12/99. From Tumut NSW.
Total: 390 000 hardwood tonnes from Victoria, 10 000 hardwood
tonnes
from NSW, 300 000 softwood tonnes from Victoria. This licence
for 400
000 tonnes will cover the duration 1997-2000.
According to the RFA for the Central Highlands p53; "Midways
has a
production capacity of around 500 000 tonnes a year . . . Of the
eucalypt resource received approximately 40% (or 115 000 tonnes) are
sourced from the Central Highlands. Approximately 57% of the
eucalypt
resources received from the Central Highlands are provided as sawmill
residues, with the remainder provided as residual logs."
Directors and Shareholders March 1999
Name / shares % / address
WH Bennett and Sons 35995 7.57 13 Dennis Street,
Colac
Black Forest Sawmills 9359 1.97 RMB
1010, Calder Hy, Woodend
Calco Investments No 2 10818 2.27 PO Box 133, Colac
McCormacks Timber (Broadford)
19956 4.19
Pitcher
Partners, 6th Floor, 161 Collins St
McCormack Timber (Erica) 18798 3.95 Pitcher Partners,
6th Floor, 161
Collins St
McCormacks Timber Pty Ltd 55511
11.67 Pitcher Partners, 6th Floor,
161Collins St
M&E Thiele Enterprises Super Acct
4398 0.92 PO Box 34, Avoca
Esma Clara & Edward Thiele
5930 1.25 PO Box 34, Avoca
ET & EW Murnane 32911 6.92 PO Box
328, Colac
Faye Irmina & Mervyn Louis Brunt
2565 0.54 58 Tulloh St
Elliminyt
Colin Lloyd & Louis Mervyn Brunt
8990 1.89 58 Tulloh St,
Elliminyt
Babington Brothers
1208 0.25 23 Deans Marsh Road, Lorne
JJ Corrigan Nominees 23882 5.02 c/- 10 Stawell
Street South,
Ballarat East
WH Micah & Sons 10779 2.27 P/L Thompson
Valley Rd, Erica
Victree Timber 26963 5.67 188-189 Blackshaws Road,
Altona North
Marbut Pty Ltd* 53159
11.17 112 Salmon St, Port Melbourne
Chebmont Pty Ltd* 97800 20.57
Pitcher Partners, 6th Floor,
161Collins St
Alex Demby Co Pty Ltd 10281 2.16 Pitcher Partners,
6th Floor, 161
Collins St
Alex Demby Timber Co Super Fund
9983 2.09 Toolangi WSD,
Healesville
Stoll Bros Pty Ltd
9945 2.09 PO Box 347,
Warragul
Hamilton St Pty Ltd (as a trustee
334 0.07 13 Dennis Street,
Colac
for SH Bennett Super Fund)
The Corrigan Super Fund
3667 0.77 c/- 10 Stawell Street South,
Ballarat East
Forest Superannuation 5046 1.06
Thompson Valley Road, Erica
McCormack Timbers
Staff Superannuation Fund
5551 1.17 Pitcher Partners, 6th Floor,
161Collins St
Total (25.18% shareholders Otway based)
(Gunnersen-McCormack 52.72%)
*Chebmont - Midways largest single shareholder. All shares of
Chebmont
owned by Pitcher Partner Nominees (most likely superannuation).
Directors: Peter and Thorald Gunnersen, Ronald Pitcher, Peter
and Nils
Koren (Peter Koren has been involved in several companies including
the
Kain and Shelton Group (based in Mount Gambier - wholesale and retail
fuel distributors), Scott Corporation (transport, warehousing and
distrubution) and is a director of K&S Blakistons Pty Ltd).
*Marbut's largest shareholders are Chebmont. Marbut is a sawmilling,
kiln drying, wood moulding, import company
Midway Directors
Lawrence Bennett, Stuart Bennett, Gary Demby, David Lawrence Colless,
Russell William Colless, John Joseph Corrigan, John Leonard Corrigan,
Peter Ronald Gunnersen, Thorald Harvey Gunnersen, Gregory Henry
McCormack, Eric Thomas Murnane, Michael Wallace Murnane
Midway
Shareholders and Company Structure - 12 June 2001:
Directors
Stuart
Hamilton Bennett, John Joseph Corrigan, Peter Ronald Gunnersen, Thorald
Harvey Gunnersen, Gregory Henry McCormack, Lee Thomas Murnane, Gary
Arthur Demby.
Alternate
Director:
Michael
Wallace Murnane
Appointed
Auditor:
Pitcher
Partners
Share
Structure:
Number of shares Issued: 448678
Total
Amount Paid: 3478741.00
|
Members
|
Shares
|
%
|
|
W.H.Bennett
and Sons, Colac
|
35995
|
8.02
|
|
WH
Micah & Sons, Erica
|
10779
|
2.40
|
|
M&E
Thiele Enterprises Pty Ltd Superannuation Account, Avoca
|
4398
|
0.98
|
| Forest Superannuation Pty Ltd, Erica |
5046
|
1.12
|
|
Stoll
Bros. Pty Ltd, Warrugul
|
9945
|
2.22
|
| Calco Investments No 2 Pty Ltd, Colac |
22630
|
5.04
|
|
ET
& EW Murnane Pty Ltd, Colac
|
32911
|
7.33
|
|
Collin
Brunt Lloyd, Elliminyt
|
8990
|
2.00
|
|
Alex
Demby Timber Co Pty Ltd, Pitcher Partners, Melb
|
10281
|
2.29
|
|
McCormack
Timbers (Erica) Pty Ltd, Pitcher Partners, Melb
|
18798
|
4.19
|
| McCormack
Timbers (Broadford) Pty Ltd, Pitcher Partners, Melb
|
19956
|
4.45
|
|
McCormack
Timbers Pty Ltd, Pitcher Partners, Melb
|
55511
|
12.37
|
|
J&J
Corrigan Nominees Pty Ltd, Oakleigh South
|
4965
|
1.11
|
| McCormack
Timbers Pty Ltd Staff Super Fund, Pitcher Part.
|
5551
|
1.24
|
| Edward Thiele Murray, Avoca |
5930
|
1.32
|
|
J&J
Corrigan Nominees Pty Ltd, Oakleigh South
|
8064
|
1.79
|
| Black Forest Timbers Pty Ltd, Woodend |
9359
|
2.08
|
|
Alex
Demby Timber Co Pty Ltd, Healesville
|
9983
|
2.22
|
| J&J Corrigan Nominees Pty Ltd, Oakleigh South |
14520
|
3.24
|
| Chebmont Pty Ltd, Pitcher Partners, Melb |
150959
|
33.64
|
Otways
based Mills - 22.40%
Companies associated with Pitcher Partners - 58.1