Commission's 2nd MiTek clearance application

Commission receives second clearance application from MiTek

The Commerce Commission has received a second application from MiTek New Zealand Limited (MiTek) seeking clearance to acquire the assets of Pryda New Zealand (Pryda) and Reid New Zealand (Reid). MiTek withdrew its first application to acquire Pryda last month.

The participants operate in the Australasian structural building components industry.

MiTek is part of an international group of companies that manufactures and distributes fasteners, bracing, brackets, special structural products and machinery.

Pryda and Reid are both operating divisions of Nylex (New Zealand) Limited. Pryda develops and markets manufacturing systems, equipment and timber connectors for roof truss, floor truss and wall frame prefabrication and timber jointing systems. Reid operates a concrete fastening business.

In considering the application, the Commission’s role is to determine whether the merger has the effect of substantially lessening competition in a market.

A public version of MiTek’s application will shortly be available on the Commission’s website under Adjudication.

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