Transpacific Technical Services (NZ) Limited (TTS) has withdrawn its section 66 clearance application to acquire the assets and businesses of Medi-Chem Waste Services Limited (Medi-Chem).

In its place, TTS has submitted two clearance applications that in essence split the original clearance application: the first application concerns the assets and businesses of Medi-Chem that relate to the treatment, recycling, and disposal of solvents; and the second application concerns the assets and businesses of Medi-Chem that relate to the collection, treatment and disposal of other hazardous wastes (not including the business relating to medical, quarantine and infectious waste, or the business of collecting and recycling lamps, amalgam and x-ray film and fluids).

In considering the applications, the Commission's role is to determine whether the acquisitions have the effect of substantially lessening competition in a market.

Public versions of the applications will shortly be available on the Commission's website www.comcom.govt.nz under the Clearances Register

Background

On 19 February 2007 the Commerce Commission received an application from TTS seeking clearance to acquire the assets and businesses of Medi-Chem that relate to the treatment, recycling, and disposal of solvents; and the assets and businesses of Medi-Chem that relate to the collection, treatment and disposal of other hazardous wastes (not including the business relating to medical, quarantine and infectious waste, or the business of collecting and recycling lamps, amalgam and x-ray film and fluids).

TTS is a wholly-owned subsidiary of Transpacific Industries Group Limited (TPI), which is listed on the Australian Stock Exchange. TPI has interests in both the hazardous and non-hazardous waste industries in New Zealand and Australia.

Medi-Chem is involved in the hazardous waste industry in New Zealand. It provides waste collection, treatment and disposal services in relation to solvents and wastes containing volatile organic compounds, hydrocarbons and laboratory chemicals. Medi-Chem also specialises in handling, packing and transportation of intractable waste for off-shore disposal.