Applicant
AML Limited
Case number(s)
200820029
Decision date
Type
Decision
Decision number200820029
Application number200810057
Date10 September 2008
Offeror/applicantAML Limited
Ultimate applicant beneficial ownership49.99 percent - New Zealand, New Zealand Public
13.3027 percent - Switzerland, Swiss Public
11.7023 percent - Switzerland, Schmidheiny (Thomas)
10 percent - United Kingdom, United Kingdom Public
5.5011 percent - Various, Various overseas persons
5 percent - United States of America, United States Public
2.5005 percent - United States of America, Capital Group Companies
2 percent - Germany, German Public
Beneficial overseas ownership 
- Asset current0 percent
- Asset proposed50.01 percent
- Share currentN/A
- Share proposedN/A
Offeree(s)/seller(s)Isaac (Diana) and Clarke (Robert Geoffrey McGregor)
50 percent - New Zealand, Clarke (Robert Geoffrey McGregor)
50 percent - New Zealand, Isaac (Diana)
Business activitiesManufacturing - Non-metallic Minerals
Details of land involved2.0502 hectares of leasehold situated at 160 McLeans Island Road, Harewood, Christchurch being Part CT 165207 (Canterbury Registry).
Regions involvedCanterbury
Total consideration$497,227
Consent soughtTo acquire an interest in land which, either alone or together with any associated land of that type, exceeds 0.4 ha and is or includes land that a district plan or proposed district plan under the Resource Management Act 1991 provides is to be used as a reserve, as a public park, for recreation purposes, or as open space.
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.

Background to the Investment:
The Land is part of the approximately 1000 hectare Isaac Conservation Park owned by the Isaac Wildlife Trust (Trust). The Applicant wants to construct a new concrete plant on the Land to replace its existing plants in Christchurch.

Outline of the Investment:
The Applicant has entered an agreement to lease with the Trust. If the Overseas Investment Office grants consent to the application the Applicant and the Trust will enter a formal lease over the land for a period of 35 years less one day.

Rationale for the Investment:
The Applicant’s two existing plants in Christchurch are almost 30 years old and are inefficient. The Applicant's proposed plant will create operational efficiency and increase productivity, and reduce waste.

The proposed investment will or is likely to benefit New Zealand (or any part of it or group of New Zealanders) having regard to the following factors:

Overseas Investment Act 2005
s17(2)(a)(i) - Creation and retention of jobs
s17(2)(a)(iv) - Increased productivity and efficiency

Overseas Investment Regulations 2005
r28(a) - Consequential benefits
r28(e) - Previous investments of benefit to New Zealand

ContactDavid Clarke/Ana Baide
Russell McVeagh
P O Box 10-214
WELLINGTON