Commission declines Gallagher acquisition

23 February 2005

Commission declines Gallagher acquisition of Tru-Test

The Commerce Commission has declined Gallagher Holdings Limited’s clearance application to acquire up to 100 percent of the shares of Tru-Test Corporation Limited.

Commission Chair Paula Rebstock said the Commission was not satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in the national market for the manufacture and wholesale supply of rural and security electric fencing products.

This is the second application the Commission has considered from Gallagher. This application was based on a different divestment undertaking than the first application. The first application was declined in August 2004.

The Commission’s written decision on the application will be available soon on the Commission’s website, www.comcom.govt.nz , select Public Registers.

Background The Gallagher Group is headquartered in Hamilton and comprises a number of companies with a primary focus on the design, manufacture and marketing of animal and security management systems in New Zealand. Gallagher’s key products include: rural and security fencing products; animal weighing systems; contract manufacturing products; security access control products; and fuel dispensing products.

Tru-Test is headquartered in Auckland, and designs, manufactures and markets agri-tech solutions.
Tru-Test’s key products include: rural and security fencing products; animal weighing systems; contract manufacturing products; milk metering equipment; shearing products; and brain monitoring equipment.

ENDS

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