Crane Group applies for clearance

Media Release Issued 21 February 2008/no 112

Crane Group applies for clearance to acquire RX Plastics

The Commerce Commission has received an application from Crane Group Limited seeking clearance to acquire 100% of the shares in, or assets of, RX Plastics Limited. Crane Group is a manufacturer and distributor of plastic pipes and plastic pipeline systems, as well as various metal products including cast-iron fittings and valves.

It also supplies plumbing and electrical products through its wholesale and retail outlets which include MasterTrade, Corys and Mico Plumbing. Crane Group is listed on the Australian Stock Exchange and supplies products in both Australia and New Zealand. In New Zealand, Crane Group operates through its subsidiaries Iplex Pipelines New Zealand Pty Limited and Crane Distribution New Zealand Limited.

RX Plastics Limited manufactures various irrigation products, water storage tanks and effluent disposal systems, including plastic pipes. It manufactures and distributes these products from its plants in Ashburton and Hamilton.

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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