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

 

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.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

20,000 Still To Go: MPI Releases Imported Apple And Stonefruit Plants

Around 20,000 apple plants and 400 stonefruit plants imported from a US testing facility have been released from all restrictions, says the Ministry for Primary Industries (MPI). More>>

ALSO:

Space: They Landed Robots On An Asteroid

On September 21, the small compact MINERVA-II1 rovers separated from the Hayabusa2 spacecraft... both rovers landed on the surface of asteroid Ryugu. The two rovers are in good condition and are transmitting images and data. More>>

RNZ: Court Of Appeal Rejects NZME-Stuff Merger

The Court of Appeal has turned down the proposed merger between media companies NZME and Stuff... The Commerce Commission had turned down the merger because of concerns about concentrating too much commercial and editorial power in one organisation. More>>

ALSO:

Cut Before Using: Australian Strawberries Withdrawn

Needles were found in a punnet of strawberries sourced from Western Australia, which was bought in a Countdown supermarket in Auckland. The Choice brand of strawberries was sold nationwide last week. More>>

ALSO: