Fletcher Building Ltd has sought Commerce Commission clearance to acquire all the assets & employees of Waikato Aggregates Ltd, including the right to extract & process sand from the Tamahere quarry. However, Waikato Aggregates will maintain ownership of the underlying land of the quarry.
Waikato Aggregates, a privately owned company incorporated in 2011, has 6 local shareholders. It owns & operates a sand quarry at Tamahere, just south of Hamilton, and supplies sand in the Waikato & Bay of Plenty.
Fletcher Building is a customer in those areas and uses the sand to manufacture & supply readymix concrete, concrete blocks & pavers and concrete pipes.
The commission said it would clear the application if satisfied the acquisition won’t lessen competition in a market.
Attribution: Commission release.