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

 

Howard Smith applies to acquire OPSM Supply Group

Media Release

Issued 21 May 2001/55

Howard Smith applies for clearance to acquire business group from OPSM Protector

The Commerce Commission has received an application from Howard Smith Limited to acquire OPSM Protector Limited's Protector Supply Group.

The application relates to OPSM's distribution business only, and not its manufacturing business.

Both companies are listed on the Australian Stock Exchange and are involved in the supply of personal and industrial safety equipment and clothing.

Howard Smith's New Zealand subsidiaries include NZ Safety Limited, Benchmark Building Supplies Limited and J Blackwood & Son (New Zealand) Limited.

OPSM Protector operates in New Zealand through a number of subsidiaries, which it owns through Protector Safety Industries Pty Limited.

The Director of the Commission's Business Competition Branch, Geoff Thorn, said that the Commission must determine what are the relevant markets for the proposal, and then assess what impact the proposal would have on competition in those markets.

The Commerce Act prohibits business acquisitions that would result, or would be likely to result, in any person acquiring or strengthening a dominant position in a market. Parties can apply for a clearance, which the Commission will give if it is satisfied that dominance would not be acquired or strengthened.

The Commission is due to make its decision on June 8.

Public copies of Howard Smith's application will be available from the Commission soon.


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

"Broad-Based Growth": GDP Rises 1 Percent In June Quarter

Gross domestic product (GDP) rose 1.0 percent in the June 2018 quarter, up from 0.5 percent last quarter, Stats NZ said today. This is the largest quarterly rise in two years. More>>

ALSO:

Judicial Review: China Steel Tarrif Rethink Ordered

On 5 July 2017 the Minister determined not to impose duties on Chinese galvanised steel coil imports. NZ Steel applied for judicial review of the Minister’s decision. More>>

Debt: NZ Banks Accelerate Lending In June Quarter

New Zealand's nine major lenders boosted lending at the fastest quarterly pace in almost two years as fears over bad debts subsided. More>>

ALSO:

Balance Of Trade: Annual Current Account Deficit Widens To $9.5 Billion

New Zealand’s current account deficit for the year ended June 2018 widened to $9.5 billion, 3.3 percent of GDP, Stats NZ said today. More>>

ALSO: