Polarcup (NZ) Limited applies for clearance to acquire CHH's plastic packaging business
Published04 Apr 2000
The Commerce Commission has received an application from Polarcup (NZ) Limited to acquire Carter Holt Harvey Limited's (CHH) New Zealand and Australian plastic packaging business.
Both companies produce a wide range of rigid and foam packaging for fast food, butchery and supermarket products.
Polarcup is part of the Huhtamaki Van Leer Group, which operates in Europe, Africa, North and South America. CHH is primarily a forest products company, which also owns a plastic packaging business. The proposal is for Polarcup to acquire this one CHH business only.
The Commission's Commerce Act Manager, Geoff Thorn, said that the Commission expects to make its decision by April 17.
The Commerce Act prohibits business acquisitions that result in dominance being acquired or strengthened in any market.
Parties can apply for a clearance, which the Commission will grant if it is satisfied that dominance is not acquired or strengthened. A clearance, if granted, protects an acquisition from court action under the Act.
