The Commerce Commission has received a clearance application from IKO Industries Ltd to acquire all of the shares of Ross Roof Group Limited.
IKO and Ross Roofs both supply steel roof tiles. Steel roof tiles are predominantly used on residential houses. Other forms of roofing include long-run steel and concrete tiles.
IKO is a global roofing company, headquartered in Canada. In New Zealand, IKO cuts and presses steel roof tiles through its local subsidiary Roof Tile Group Limited (trading as Gerard) and sells these tiles within New Zealand and overseas. IKO also imports and supplies asphalt shingles and membrane roofing in New Zealand through an independent distributor, Nuralite Waterproofing Ltd.
Ross Roofs is a New Zealand owned and operated roofing company. It cuts and presses steel roof tiles, and then sells these tiles within New Zealand and overseas. Within New Zealand, Ross Roofs supplies roof tiles under the Metrotile brand.
A public version of the clearance application is available on the Commission's case register.
Background
We will give clearance to a proposed merger if we are satisfied that the merger is unlikely to have the effect of substantially lessening competition in a market.
