Bunnings shareholders bow to Wesfarmers
BELIEVE it or not, there was a time when Bunnings was not a fully-fledged part of Wesfarmers.
This week 10 years ago Bunnings directors recommended the company’s shareholders accept Wesfarmers takeover offer.
Also making news 10 years ago, was how Western Australia underpinned a mini-boom at Sotheby’s Melbourne sale.
That buying spree was driven by Wesfarmers, fresh from posting its first $100 million profit, buying up works by E Phillips Fox, Sir Hans Heysen and Jeffrey Smart.
The Art Gallery of WA was also entered into a bidding duel with the Queensland Art Gallery and the Art Gallery of New South Wales.
Dragon Mining returned with substantial encouragement after initial drilling at its Boogardie project.
WMC was lamenting lower commodity prices that had hammered its bottom line and spoiling what would have otherwise been good news about a net profit improvement.
The Maritime Union of Australia detained bulk carrier Kuanyin as part of its campaign against the low wage levels on foreign-flag vessels.
Australian Leather Holdings opened the State’s only wet-blue tannery at Darkan.
WMC also announced it would cut its spending in the 1994-95 financial year. Meanwhile, Perilya said it was poised to boost its gold production after picking up Dominion Mining’s Labouchere gold operations.
Wavemaster handed over the 42-metre catamaran ferry it had built for the operation between Hong Kong and Nansha City.
CRA committed to a $68 million spend on its Hamersley Iron processing plant to upgrade the quality of iron ore from that operation.
However, CRA was also facing union troubles over its plans to put all of its workers on staff contracts.
Cogema Australia, part of Cogema of France agreed to sell its Australian gold mining unit Afmeco, which had a 50 per cent interest in the Baxter gold joint venture in WA, to Plutonic Resources.
Oil explorer Hadson Energy was accusing the WA Government of exproporiation because the government had banned oil exploration in the Ningaloo Marine Park.
Prince Kevin, ruler of the Principality of Hutt River Province was making global news for his search for relatives, with the promise of bestowing a "Royal Award" for the modest sum of a $10 investiture fee.