| Decision | Consent granted Section 12(a) Overseas Investment Act 2005 |
|---|---|
| Decision Maker | Overseas Investment Office |
| Decision Date | 6 August 2019 |
| Investment | An overseas investment in sensitive land, being the Applicant's acquisition of a freehold interest in 0.6 hectares of land at 35 Lady Ruby Drive, East Tamaki, Auckland. |
| Consideration | $9,200,000 |
| Applicant | Electropar Limited Robert G Ruhlman, United States of America (33.0%) Randall M Ruhlman, United States of America (28.7%) Barbara P Ruhlman, United States of America (27.9%) United States Public (10.4%) |
| Vendor | Carol Anne Campbell and Tony Lachlan Wallace as trustees of the Murray Wallace Trust Tony Lachlan Wallace, New Zealand (50.0%) Carol Anne Campbell, New Zealand (50.0%) |
| Background | The Applicant is a leading provider of electrical engineering solutions for the Australasian electrical transmission and distribution, defence and industrial sectors. The investment will result in the Applicant acquiring the freehold in 0.6 hectares of land at 35 Lady Ruby Drive, East Tamaki, Auckland. The Applicant currently leases the Land and the buildings on it, from which it has operated manufacturing and warehousing aspects of its New Zealand business since 2010. Consent is required because the Land adjoins the Hampton Park reserve. The investment will support the Applicant to continue to operate and grow its New Zealand business. The Applicant has previously undertaken investment that has been, and continues to be, of benefit to New Zealand. The investment will enhance the on-going viability of the operation and growth of the New Zealand business, which offers valuable services and products to New Zealand and employs New Zealanders. The investment is likely to result in added market competition and enhanced domestic services in New Zealand. |
| More information | Tony Nicholson Burton Partners P O Box 8889 Auckland 1150 |