Gardner Smith declined clearance to acquire Bulk Storage Terminals
Published04 Oct 1996
The Commerce Commission has today declined to clear Gardner Smith NZ Ltd to acquire the assets of Bulk Storage Terminals Ltd.
Gardner Smith processes, stores and distributes tallow and vegetable oils. It also provides, through subsidiaries, non-hazardous liquid bulk storage services at Auckland, Napier, Picton and Bluff.
Bulk Storage Terminals provides non-hazardous liquid bulk storage services in Tauranga, New Plymouth and Wellington, and has a 50 percent interest in a firm which provides these services in Auckland.
Commission Member Terry Stapleton said that the Commission was not satisfied that the proposal would not result, or would not be likely to result, in the combined entity (Gardner Smith and Bulk Storage Terminals) acquiring a dominant position in the Auckland regional market for the bulk storage of non-hazardous liquids which includes the bulk storage of tallow and vegetable oils.
There were no such concerns in relation to the other markets in which the two companies operate.
Media contact: Chief Investigator Business Acquisitions John Preston
