Commission grants clearance to VisyPET

Friday, 2 July 2004, 10:43 am
Press Release: Commerce Commission

Issued 2 July 2004-05/001

The Commerce Commission has cleared VisyPET (NZ) Limited (trading as VisyPak) to acquire some or all of the two-stage PET manufacturing assets and related business contracts of Visy Industrial Plastics (NZ) Limited (VIP).

The application related to the on-sale by VIP to Visypak of two-stage PET manufacturing assets considered in a recent Commission decision on the acquisition by VIP of certain PET manufacturing assets from ACI Operations NZ Limited (ACI). During its investigation of the initial transaction, the Commission consulted with interested parties on the basis that the subsequent transaction was likely to occur.

In the present decision, the Commission granted the clearance to VisyPak on the basis that in its previous decision the Commission had considered that VIP and VisyPak were associated entities, and that the on-sale of the ACI assets by VIP to Visypak formed part of the proposal.

As the Commerce Act does not operate so that a clearance granted to a named applicant will apply to any other entities with which it may be associated, a separate application for clearance was submitted by VisyPak to the Commission.

Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition by VisyPak of the two-stage PET manufacturing assets and related business contracts of VIP would not have, nor would be likely to have, the effect of substantially lessening competition in the New Zealand market for the manufacture and supply of PET bottles for non-alcoholic beverages.

A public version of the Commission’s decision is available on www.comcom.govt.nz under Adjudication. A public version of the Commission’s decision in relation to the earlier clearance relating to VIP and ACI is also available on the website.

ENDS

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