| Decision number | 200620012 |
|---|---|
| Application number | 200610111 |
| Date | 21 July 2006 |
| Offeror/applicant | Orica New Zealand Limited |
| Ultimate applicant beneficial ownership |
77 percent - Australia, Australian Public 9 percent - United Kingdom, United Kingdom Public 8 percent - Various, Various overseas persons 6 percent - United States of America, United States Public |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) |
Ridge Road Quarry Limited 100 percent - New Zealand, Blackmore (Alan Coombes) |
| Business activities | Transport & Storage - Storage |
| Details of land involved | 11.4112 hectares of freehold situated at Ridge Road, Bombay, Auckland being CT 230153 (North Auckland Registry). |
| Regions involved | South Auckland |
| Total consideration | $984,375 inclusive of GST |
| Consent Sought | To acquire an interest in land which, either alone or together with any associated land of that type, is or includes non-urban land and exceeds 5 hectares in area. |
| Rationale |
The application has been approved as it met the criteria. The ultimate parent company of Orica New Zealand Limited is Orica Limited a publicly owned company listed on the Australian Stock Exchange. The principal business activities of Orica New Zealand Limited (Orica NZ) are the manufacture, storage, sale and distribution of industrial chemicals and explosives, synthetic resins, plastics, polythene films and packaging, dyestuffs, paints, adhesives, sealants, car care products and garden products. Orica NZ is divided into three divisions being Orica Mining Services, Orica Chemicals and Orica Consumer Products. Orica NZ's New Zealand mining services are currently located at Waitawa Bay near Clevedon. The Waitawa Bay site was sold in September 2004 to the Auckland Regional Council who propose to turn the Waitawa site into a regional park. Orica NZ is currently leasing the Waitawa site. Orica NZ proposes to relocate its Waitawa operations to the subject land. The proposal is likely to result in the following benefits: (a) increased efficiencies and enhanced domestic services. |
| Contact |
Mark Crosbie Bell Gully P O Box 4199 AUCKLAND |