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

 


Atlas Copco seeks clearance to acquire Ash Air

Atlas Copco seeks clearance to acquire Ash Air
Issued 02 April 2014

Release No. 89


The Commerce Commission has received an application from Atlas Copco South Pacific Holdings Pty Limited (Atlas Copco) seeking clearance to acquire some of the assets of Lancaster Group Limited including Ash Air (N.Z) Limited, Ash Air Oil & Gas Limited, MBAR 2011 Limited, and Fox Air NZ Limited (together, Ash Air).

Under the proposed acquisition, Atlas Copco would acquire Ash Air’s import, distribution and servicing business in New Zealand.

Atlas Copco is a subsidiary of Atlas Copco Group, which is based in Sweden. The Atlas Copco Group manufactures a range of equipment including air compressors, blowers, vacuum pumps and air treatment products and Atlas Copco imports and supplies these products in New Zealand.

The Ash Air companies are wholly owned subsidiaries of Lancaster Group Limited. Like Atlas Copco in New Zealand, Ash Air imports, distributes and services a range of equipment including air compressors, blowers and vacuum pumps and air treatment products. However, unlike Atlas Copco, Ash Air does not manufacture any of these products itself.

A public version of the application will be available on our Clearances Register shortly.

Background

Assessing an application for a merger or acquisition

When considering a proposed merger, the Commission must decide whether the competition that is lost in a market when two businesses merge is substantial. We will give clearance to a proposed merger only if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
A fact sheet explaining how the Commission assesses a merger application is available at
www.comcom.govt.nz/merger-assessment


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Onetai Station: Overseas Investment Office Puts Ceol & Muir On Notice

The Overseas Investment Office (OIO) has issued a formal warning to Ceol & Muir and its owners, Argentinian brothers Rafael and Federico Grozovsky, for failing to provide complete and accurate information when they applied to buy Onetai Station in 2013. More>>

ALSO:

Tomorrow, The UN: Feds President Takes Reins At World Farming Body

Federated Farmers president Dr William Rolleston has been appointed acting president of the World Farmers’ Organisation (WFO) at a meeting in Geneva overnight. More>>

ALSO:

I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>

ALSO:

Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>

Earlier:

Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>

ALSO:

Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news