7 COTS

roperties

uys

— $12 million

*  N.W. Hullah Corp, Ltd. and
associated companies have
sold their properties in B.C.
and Hawaii to US. Financial
Corp. for $12 million.

Norman W. Hullah, presi-
dent of N. W. Hullah Corp.,
said the agreement marks the

US. company's entry into
- Canada. It will establish its
Canadian headquarters in
Vancouver.

Hullah said he will con-
tinue in a management capac-

organization has projects esti-
mated at $667 million, These
include three hotels in Hawaii,
a large home fabrication plant
in the Fraser Valley and an
extension to the Mary Hill
subdivision in Coauitlam.

U.S. Financial Corp is listed
on the New York Stock Ex-
change and is a savings and
loan company.

“It is the largest’ mortgage
and shelter company in the
U.S. with annual sales of al-
most $1 billion,’ said Hullah.

“The properties we are selling
are serviced and unserviced
land.

“A new Canadian company
will be formed and Hullah
Corp. will gradually disap-
pear, We'll be able to expand
faster. We of Hullah Corp.
will be in charge of the land
division here but not of mort-
&age and financing divisions.

“A now executive office is
to ke openec in downtown
Vancouver. Three locatiuns
are being looked at. The oper-

ations offic, will be in the
Fraser Valley. Very few
Americans are coming up.”

Hullah said the deat was
signed on Thursday with Ron
Williamson, executive vice-
president, Pacific Region, of
U.S. Financial and Larry
Lippman, vice-president in the
region.”

The Hullah organization has
been in the construction busi-
ness for 35 years. William
Thomas Hullah, father of Nor-
man, was a general contrac-
tor,

ity and noted that his present
RS

r Te el tnt