Commission Clears CHH

Friday, 6 July 2001, 9:19 am
Press Release: Commerce Commission

Issued 5 July 2001/82

Commission Clears CHH's Proposed Acquisition Of Central North Island Forest Partnership, Subject To Divestment

The Commerce Commission today cleared Carter Holt Harvey Limited's (CHH) application for clearance to acquire the Central North Island Forest Partnership, subject to CHH divesting specified forestry assets.

Commission Chair John Belgrave said that subject to the divestment the Commission is satisfied that should the proposal go ahead CHH would not acquire or strengthen dominance in any market. The relevant markets in this case are those for the production and supply of:

* unpruned sawlogs in the Central North Island, excluding the Auckland and Hawkes Bay regions
* pruned sawlogs in the Central North Island
* pulplogs in the Central North Island, excluding the Auckland and Hawkes Bay regions
* woodchips in the Central North Island, excluding the Auckland and Hawkes Bay regions, and
* sawn timber in the North Island.

The Commission had concerns about the ongoing supply of pruned logs and the divestment undertakings relate to this market.

Mr Belgrave said that details of the Commission's decision will be available next week when public copies are released. However, details of the divestment undertaking are commercially sensitive and the Commission will treat them as confidential.

Media contact: Director Business Competition Branch 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

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