Fulton Hogan applies to acquire G J Beynon

Media Release

Issued 24 October 2006/061

Fulton Hogan Limited applies for clearance to acquire G J Beynon Contracting Limited

The Commerce Commission has received an application from Fulton Hogan Limited (Fulton Hogan) seeking clearance to acquire the contracting assets, quarry and land of G J Beynon Contracting Limited (G J Beynon). Associated with this purchase is the acquisition by Fulton Hogan of the 50% of shares in Westland Asphalt Limited (WAL) not currently owned by Fulton Hogan.

Fulton Hogan's businesses include road construction and surfacing, quarrying, highway maintenance for local and national government and production of asphalt, bitumen products and emulsion.

G J Beynon is a quarry operator and contractor that produces and sells aggregates and provides general contracting services, including the laying of asphalt and sealing chip, primarily in the Grey and Westland Districts of the West Coast of the South Island.

WAL is a joint venture company currently operated by Fulton Hogan and two existing shareholders of G J Beynon. WAL manufactures and sells asphalt.

In considering the application, the Commission's role is to determine whether the acquisition has the effect of substantially lessening competition in a market.

A public version of the application will shortly be available on the Commission's website www.comcom.govt.nz under Public Registers.

ENDS

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