ARC Chairman comments on Auckland-Tauranga Ports talks

11 October 2006

ARC Chairman Michael Lee says: “We see considerable merit in some form of port alliance, given the growing power of merged international shipping companies, and we will be carefully studying proposals as they come through from Auckland Regional Holdings.

“Auckland’s port is critically important to Auckland’s economy. It is New Zealand’s largest container port and by far New Zealand’s largest importing port (60%) by value, including raw materials, equipment and manufactured goods, which are the lifeblood of Auckland’s economy.

“Its strategic importance is one of the reasons the ARC Group moved to secure its 100% shareholding last year. Accordingly we will be ensuring Auckland’s interests in this vital infrastructure are fully protected.”

ENDS

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