| Decision number | 200620082 |
|---|---|
| Application number | 200620126 |
| Date | 19 December 2006 |
| Offeror/applicant | Holcim (New Zealand) Limited |
| Ultimate applicant beneficial ownership | 66.4 percent - Switzerland, Swiss Public 23.6 percent - Switzerland, Schmidheiny (Thomas) 10 percent - United States of America, Capital Group Companies |
| Beneficial overseas ownership | |
| - Asset current | 0 percent |
| - Asset proposed | 100 percent |
| - Share current | N/A |
| - Share proposed | N/A |
| Offeree(s)/seller(s) | Douglas (Malcolm and Janet Christina) of New Zealand |
| Business activities | Mining - Other Mining |
| Details of land involved | 61.0822 hectares of freehold situated at 81 Settlement Road, Pukekohe, Auckland being CT NA8D/839 (North Auckland Registry). |
| Regions involved | Auckland |
| Total consideration | $2,800,000 |
| 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 Overseas Investment Office is satisfied that the individuals with control of the Applicant collectively have business experience and acumen relevant to the overseas investment, and that the Applicant has demonstrated financial commitment towards the overseas investment. The Overseas Investment Office is further satisfied that each individual that exercises control over the Applicant is of good character and is not an individual of the kind referred to in section 7(1) of the Immigration Act 1987. Holcim New Zealand proposes to acquire the land for the quarrying of aggregate. This quarry is seen by Holcim as an eventual replacement for the existing Bombay Quarry site. Holcim anticipates that the acquisition of the land will enable it to secure the medium term supply of aggregates for Holcim and the broader aggregates market. The resources are required to maintain a secure supply of high grade aggregate at competitive prices that are suitable for use in both structural concrete and roads. The proposal is likely to result in the following benefits:
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| Contact | Nichola Hiatt Anthony Harper PO Box 2646 CHRISTCHURCH 8140 |