Port Of Tauranga Application To Acquire Owens

Media Release

Issued 11 December 2001/127

Commerce Commission receives clearance application from Port of Tauranga to acquire Owens

The Commerce Commission has received an application from Port of Tauranga Limited (PTL) for clearance under the Commerce Act to acquire 100% of the assets or shares of Owens Services BOP Limited (Owens).

PTL's principal activities are the ownership and operation of the wharf infrastructure and marine services at the Port of Tauranga. PTL is also a 50% shareholder of Northport Limited, which is currently constructing a new wharf facility at Marsden Point, Northland.

Owens business activities include log marshalling, materials and wharf handling, mechanical services and shipping agency.

In considering the application, the Commission's role is to determine whether the merger has the effect of substantially lessening competition in any markets.

A public version of PTL's application will soon be available on request from the Commerce Commission. Please contact Catherine Best, (04) 498-0953.

ENDS

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