Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Fletcher Steel Cleared To Acquire Steel And Tube

Issued 21 March 2001/29

Commission Clears Fletcher Steel To Acquire Steel And Tube

The Commerce Commission today cleared Fletcher Steel Limited to acquire all the shares in Steel and Tube Holdings Limited.

Commission Chair John Belgrave said that the Commission had cleared a previous application from Fletcher Steel in December 1999 but the acquisition did not go ahead and that clearance has expired. A business acquisition must occur within one year of the Commission's decision or the clearance expires.

Mr Belgrave said that much of the information in the Commission's previous decision was applicable to the present application. However, as some time had passed since that decision, the Commission conducted market enquires to verify and update information.

The Commission analysed competition in those markets and found some changes had occurred, including some of the smaller competitors expanding their operations, but found that these changes would not alter its previous decision to give a clearance.

The Commission concluded that, should the proposal go ahead, Fletcher Steel would not acquire or strengthen dominance in any of the national markets for the:

* distribution of merchant steel products
* distribution and fabrication of reinforcing steel
* distribution and processing of steel plate products
* distribution and processing of steel coil products
* manufacture and distribution of domestic roofing products, and
* manufacture and distribution of industrial roofing products.

Copies of the Commission's decisions, numbers 378 and 421, are available from its website, www.comcom.govt.nz, in the adjudication folder and in hard copy from reception, level 7 Landcorp House, 101 Lambton Quay, Wellington.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Oil Scare: Trump Authorises Use Of Emergency Crude Stockpile

The New Zealand dollar fell against the US dollar after President Donald Trump authorised the use of the country's emergency crude stockpile after the weekend attack on Saudi Arabia’s major oil facilities. More>>

ALSO:

Pre-Post-Brexit Deal Talks: UK Trade Minister Visits Wellington

New Zealand should get a better deal for exports of sheepmeat, beef and dairy products into the United Kingdom after Brexit, the British Minister of State for Trade, Liz Truss, said in Wellington today. More>>

ALSO:

Not-Very Well: Tamarind Halts Tui Drilling; OMV Assesses Options

Tamarind Resources has halted drilling at its Tui oil field off the Taranaki coast after the first of the three planned wells came up dry. Managing director Ian Angell says that despite the “unexpected” result from the first well, the firm believes the other two prospects are worth pursuing. More>>

ALSO:

Seeking 'Clarity': Crown To Appeal Southern Response Decision, Offers Costs

“It is our intention that the clarity that will come from the outcome of these proceedings will enable the Crown to work with Southern Response to provide a soundly based proactive solution to those people that are affected.” More>>

Thinking Of The Children: Plan For Classification For Commercial Video On Demand

Classifying on-demand video content will be made mandatory to bring it in line with other media and provide better guidance and protections to families and young people, says Internal Affairs Minister Tracey Martin. More>>