The forests owned by KTC made it the fifth-largest landholding company in the country, which removed much of North Island’s native forest, initially kauri and later kahikatea,[2][3] assuring steady supplies for its mills for many years.
In its extensive export trade the company employed a large fleet of vessels, and was represented in the markets of Great Britain, Cape Colony, Australia and the South Sea Islands.
First the Christchurch plywood factory, Butler Bros, Stuart & Chapman and Ellis & Burnand were sold on 5 June 1961 for NZ£750,000 (A£930,000), though they were said to be worth well in excess of £1 million.
KTC's customers and senior staff were not happy with the takeover, causing profitability to drop.
[9] Chatlee mill at Smithton was upgraded, 'home centres' were opened in Adelaide and Melbourne and Devonport and Deloraine sawmills were sold to J.