IKO Industries Seeks Clearance To Acquire Ross Roof Group

Credit: Original article can be found here

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.

Further information
explaining how the Commission assesses a merger application
is available on our website.
 

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