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Carter Holt Harvey applies for clearance

Carter Holt Harvey applies for clearance to acquire Lakesawn Lumber

The Commerce Commission has received an application from Carter Holt Harvey Limited seeking clearance to acquire the structural and industrial sawmilling business and certain assets of Lakesawn Lumber Limited.

Carter Holt Harvey is a wholly owned subsidiary of Rank Group Investments Limited. Its business activities include the production of wood products, pulp and paper, packaging and building supplies. Carter Holt Harvey owns sawmills at Whangarei, Kawerau, Putaruru, Kopu, Rotorua (Rainbow) and Nelson, and it produces structural and industrial timber.

Lakesawn Lumber is a member of the Pedersen group of companies owned and controlled by Paul Pedersen and the Pedersen Commercial Trust. Pedersen's core business is the provision of support services to the timber industry. Lakesawn Lumber owns and operates a sawmill at Taupo which produces structural and industrial timber.

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

A public version of the application will shortly be available on the Commission's website www.comcom.govt.nz under Public Registers.

ENDS

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