Commission declines Brambles application to acquire GE Capital Returnable Packaging Systems
Published21 Mar 2003
The Commerce Commission has declined a clearance application from Brambles New Zealand Limited (Brambles) to acquire the business assets of GE Capital Returnable Packaging Systems Limited (GECRPS).
Chair John Belgrave said that the Commission could not be satisfied that the proposed acquisition would not have, nor would be likely to have, the effect of substantially lessening competition in the market for the hire of reusable plastic crates for the transport and storage of fresh New Zealand produce.
The Commission's written decision on the application will be available soon on the Commission's website, www.comcom.govt.nz , under Adjudication.
Background
Brambles' businesses in New Zealand include CHEP (New Zealand), which is involved in packaging systems including the hiring of plastic crates and bins typically used for packing and transporting fruit and vegetables, and also the hiring of pallets.
GECRPS is 100% owned by General Electric Capital Corporation and in New Zealand trades under the name GE Weck-Pack, which also hires reusable plastic crates and bins.
Media contact: Fritha Mackay, Manager, Market Structure Group
