Fulton Hogan cleared to acquire G J Beynon

Fulton Hogan cleared to acquire G J Beynon

The Commerce Commission has cleared Fulton Hogan Limited to acquire the contracting assets, quarry and land of G J Beynon Contracting Limited. Associated with the purchase is the acquisition by Fulton Hogan of the 50% of shares in Westland Asphalt Limited (WAL) not currently owned by Fulton Hogan.

Commission Deputy Chair David Caygill said that the Commission was satisfied that the proposed acquisition would not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.

Fulton Hogan's businesses include road construction and surfacing, quarrying, highway maintenance for local and national government, and production of asphalt, bitumen products and emulsion.

G J Beynon is a quarry operator and contractor that produces and sells aggregates and provides general contracting services, including the laying of asphalt and sealing chip, primarily in the Grey and Westland Districts of the West Coast of the South Island.

WAL is a joint venture company currently operated by Fulton Hogan and two existing shareholders of G J Beynon. WAL manufactures and sells asphalt.

A public version of the written decision will be available as soon as practicable on the Commission's website, www.comcom.govt.nz, under Public Registers.

ENDS

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