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Commission receives clearance application from ITW

Commission receives clearance application from ITW New Zealand

The Commerce Commission has received an application from ITW New Zealand Limited (ITWNZ) seeking clearance to acquire the assets of Pryda New Zealand (Pryda) and Reid New Zealand (Reid). The proposed acquisition is part of a larger Australasian transaction.

Both ITWNZ and Reid provide products and services in the New Zealand concrete industry.

ITWNZ trades as Ramset New Zealand and is the largest supplier of fasteners for securing steel and timber components to concrete. Of particular relevance for the proposed acquisition is ITWNZ’s concrete fastening and lifting system businesses.

Pryda and Reid are both operating divisions of Nylex (New Zealand) Limited. Pryda manufactures and supplies timber connecting systems. Reid operates a concrete fastening and lifting 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 the applications from ITWNZ will shortly be available on the Commission’s website under Adjudication.

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