lawfuel – The Law Newswire –
The Commerce Commission has cleared Transpacific Technical Services (NZ) Limited (TTS), or a wholly-owned subsidiary of TTS, to acquire the assets and businesses of Medi-Chem Waste Services Limited (Medi-Chem) that relate to the treatment, recycling, and disposal of solvents.
Commerce Commission Chair Paula Rebstock said that the Commission was satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in any of the relevant markets.
In line with its usual procedure, the Commission will not be making any comment on the decisions until the written reasons are available.
Public versions of the written reasons for the decisions will be available as soon as practicable on the Commission’s website, www.comcom.govt.nz, under Public Registers.
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).
On 14 August 2007 TTS withdrew its application of 19 February 2007. In its place, TTS submitted two clearance applications that in essence split the original clearance application: the first relating to the treatment, recycling, and disposal of solvents and the second relating to the collection, treatment and disposal of hydrocarbon, miscellaneous chemical and intractable wastes (the ‘chemical smalls’ business). The Commission made a decision on 15 August 2007 to grant clearance in respect of TTS’ chemical smalls application. TTS’ application for clearance in respect of solvents was investigated, and parties consulted over the period since the Commission received TTS’ original clearance application in February 2007.
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.