UEB in probe
PA Wellington The Commerce Commission had been investigating an application for a NZ Forest Products, Ltd, and UEB Industries, Ltd, joint venture to acquire all or part of UEB’s packaging business, the commission’s chairman, Mr John Collinge, said yesterday. The Commission is about to release a report on the takeover and seeks submissions from interested parties. The report concluded
that the takeover would strengthen NZFP’s dominance in the production and supply of kraft paper and packaging boards. It said the industry was highly concentrated at all levels — from “tree to finished packaging,” and tha NZFP had substantial interests at all levels.
NZFP already owned 40 per cent of UEB, the report said. This take-over would give it a more active role in UEB’s packaging operations.
The Commerce Commission will proceed to conduct an inquiry into the merger proposal and is calling for submissions from interested parties by March 30.
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Press, 14 March 1987, Page 24
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152UEB in probe Press, 14 March 1987, Page 24
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