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

 

PGPs: New Programme Sets Sights On Strong Wool

A new collaboration between The New Zealand Merino Company (NZM) and the Ministry for Primary Industries (MPI), announced today, aims to deliver premiums for New Zealand's strong wool sector... More>>

ALSO:

Restrictions Lifted: No Further Tau Flies Found

The Ministry for Primary Industries (MPI) confirms that all restrictions on the movement of fruit and vegetables in Manurewa, Auckland, due to the Tau fly, have been lifted as of 2.26pm on Sunday 7 February. More>>

Crowdfinding: Awaroa Beach To Become Public Land If Appeal Succeeds

Conservation Minister Maggie Barry says a privately-owned beach will become part of the Abel Tasman National Park if an online crowdfunding campaign to buy it succeeds... More>>

ALSO:

Meat Workers Union: Waitangi Mondayisation Flaunted By Large Employer Of Maori

At the AFFCO Talley owned meat plant in Rangiuru, the company has resorted to bullying and threats... saying they could be disciplined and their union sued for an unlawful strike if workers exercise their rights to a paid day off tomorrow. More>>

Earlier:

ETS Review: Modelling Documents Released

Three technical documents are being released to help New Zealanders engage with the Emissions Trading Scheme (ETS) review, Climate Change Minister Paula Bennett says. More>>

ALSO:

Northland: Govt Plan Targets Transport, Web, Maori Assets

The government has released a 10-year plan to attract investors and lift economic growth in Northland, a region that perennially underperforms the rest of the country even while being endowed with natural beauty, productive land, minerals, a potential workforce, scope for manufacturing, forestry and aquaculture, and proximity to Auckland. More>>

ALSO:

Statistics: Unemployment Rate Falls To 5.3 Percent

The unemployment rate fell to 5.3 percent in the December 2015 quarter (from 6.0 percent), Statistics New Zealand said today. This is the lowest unemployment rate since March 2009. There were 16,000 fewer people unemployed than in the September ... More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news