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

 

First Security parent company ISS cleared


07 November 2008 /no 57

First Security parent company ISS cleared to acquire manned guarding business of Chubb

The Commerce Commission has cleared ISS Holdings NZ Limited (ISS) to acquire a portion of the manned (static and mobile) guarding business of Chubb New Zealand Limited (Chubb).

Commerce Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets. Post-acquisition, ISS will continue to be constrained by existing competition.

Public versions of the written reasons for the decision will be available as soon as practicable on the Commission’s website www.comcom.govt.nz under Public Registers.

Background

Static guarding is the stationing of a guard at a customer’s premises. Mobile guarding or patrol is the dispatch of a security guard to a residential address or commercial premises (either at pre-specified times or in response to an alarm).

ISS is a wholly owned subsidiary of ISS Global A/S, a company incorporated in Denmark. ISS carries out a manned (static and mobile) guarding business via a wholly-owned subsidiary, First Security Guard Services Limited.

Chubb is ultimately owned by United Technologies Corporation. It provides a wide range of services including manned (static and mobile) guarding services, installation of electronic security systems, cash handling and 24x7 electronic alarm monitoring services.

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: