Assist development
The consent of the Examiner of Commercial Practices means that the Commerce Commission will not be required to examine the proposal. : Mr Monaghan said yesterday that it was his view that the proposed merger would tend to assist the development of industry in New Zealand. Although the resulting company would be a large
one, it would be able to provide capital locally which would otherwise have to be brought into New Zealand from overseas to finance desirable • industrial development. Many of the forestrybased developments of the next 20 years would be big ones needing big investment, he said. He was required to consider the effect of the proposal on trade competition
and had found that except in one area of the new company’s activities, no competing firms would be affected. This was in stock and station agency and he did not feel that this would be against the pub- ■’ lie interest Mr Monaghan said. Many of the new com’ pany’s activities were, in fact, complementary to other sections of industryj he said.
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Press, 23 October 1980, Page 1
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174Assist development Press, 23 October 1980, Page 1
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