Clearance Application From United Environmental
Commission Receives Clearance Application From United Environmental Limited
The Commerce Commission has received an application under the recently amended Commerce Act from United Environmental Limited (United) for clearance to acquire all of the assets of Solvent Services Limited (Solvent).
United is a wholly owned subsidiary of Nuplex Industries Limited. Its services include the identification, handling, collection, treatment, disposal and recycling of waste liquids, plus packaged and bulk materials, chemicals, oils, greases, solvents and simple organics.
Solvent is a privately owned company which disposes of and recycles solvent waste for customers. It also sells "virgin" solvents, which are new solvents purchased internationally and imported by Solvent.
Both companies currently operate a "refine and return" service in which solvent waste is refined in a solvent distillation unit and then returned to customers for re-use in their operations.
The Commission's Business Competition Branch Director, Geoff Thorn, said the amended Act prohibits business acquisitions that substantially lessen competition (SLC) in a market. Before the amendments the Act prohibited acquisitions that resulted in dominance being acquired or strengthened in a market.
The Act gives the Commission 10 working days in which to make its decision and allows for extensions of time if necessary.