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ComCom receives clearance application from MiTek

Media Release

Issued 5 September 2003-04/028

Commission receives clearance application from MiTek

The Commerce Commission has received an application from MiTek New Zealand Limited (MiTek) seeking clearance to acquire the assets of Pryda New Zealand (Pryda) and Reid New Zealand (Reid).

The participants operate in the Australasian structural building components industry.

MiTek is part of an international group of companies that manufactures and distributes fasteners, bracing, brackets, special structural products and machinery.

Pryda and Reid are both operating divisions of Nylex (New Zealand) Limited. Pryda develops and markets manufacturing systems, equipment and timber connectors for roof truss, floor truss and wall frame prefabrication and timber jointing systems. Reid operates a concrete fastening business.

In considering the application, the Commission’s role is to determine whether the merger has the effect of substantially lessening competition in a market.

A public version of MiTek’s application will shortly be available on the Commission’s website under Adjudication.

ENDS

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