Milburn Applies For Clearance
Milburn Applies For Clearance To Acquire Isaac Concrete
The Commerce Commission has received an application from Milburn New Zealand Limited for clearance to acquire Isaac Concrete Limited.
Milburn operates in cement, concrete and quarrying markets in New Zealand. It is ultimately owned by Holderbank Financiere Glaris Limited in Switzerland.
Isaac Concrete operates in concrete markets in the South Island and is owned by The Isaac Construction Company Limited, which is based in Christchurch.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Commission must determine what are the relevant markets and assess what impact the proposal would have on competition in those markets.
The Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market. Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance is not acquired or strengthened.
The Act gives the Commission 10 working days in which to make its decision but allows for extensions of time if necessary. Working day 10 will be December 13.
Public copies of Milburn's application are available from reception at the Commission's Wellington office, level 7 Landcorp House, 101 Lambton Quay.
Media contact: Commerce Act Manager Geoff Thorn Phone work (04) 498 0958, cellphone 021 661 104
Senior Advisor Communications Vincent Cholewa Phone work (04) 498 0920, home (04) 477 0039
Commission media releases can be viewed on its web site www.comcom.govt.nz
Regards Leo van Schyndel Records Officer Corporate Services Direct dial : (04) 498-0929 E-mail : email@example.com