Daiken
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Daiken cleared to buy MDF plant in New Zealand
The Commerce Commission in New Zealand has granted clearance for Daiken New Zealand to acquire 100% of the shares in Dongwha New Zealand Ltd. Daiken, which manufactures and supplies MDF from a plant it operates in North Canterbury, sought clearance to acquire Dongwha, which manufactures and supplies MDF from a plant it operates in Southland. In making its decision, the Commission considered competition issues in the national market for the manufacture and supply of raw MDF panels. Deputy Chair Sue Begg said the Commission is satisfied that the merger would not substantially lessen competition in the relevant market. “We were satisfied on the evidence before us that the market is currently delivering competitive outcomes and that the proposed acquisition is not likely to substantially change that situation,” Ms Begg said. Daiken is the New Zealand subsidiary of Daiken... Continue reading
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Japan’s Daiken to acquire Dongwha New Zealand
Japanese building materials giant Daiken Corp. will acquire Dongwha New Zealand at the end of December. The company announced on the 26th of September that the size of the deal has not been announced, but is estimated at 10 Bn yen (US$89.7 Mn). Both companies manufacture MDF. Daiken currently has factories in New Zealand and Malaysia and is hoping to expand the business through Dongwha's sales networks in Oceania and North America. Through its local subsidiary, Daiken will acquire all of Dongwha's shares from the Hong Kong-based parent company and other minority stockholders. Dongwha's sales were NZD91.59 Mn (US$67 Mn) for the fiscal year ending December. Although plywood is more commonly used in Japan, Daiken is trying to promote MDF, which is highly durable. "This is just a first step toward expanding MDF operations," said Masanori Okuda, president of Daiken. "We will... Continue reading
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April 5, 2018
Daiken cleared to buy MDF plant in New Zealand
The Commerce Commission in New Zealand has granted clearance for Daiken New Zealand to acquire 100% of the shares in Dongwha New Zealand Ltd. Daiken, which manufactures and supplies MDF from a plant it operates in North Canterbury, sought clearance to acquire Dongwha, which manufactures and supplies MDF from a plant it operates in Southland. In making its decision, the Commission considered competition issues in the national market for the manufacture and supply of raw MDF panels. Deputy Chair Sue Begg said the Commission is satisfied that the merger would not substantially lessen competition in the relevant market. “We were satisfied on the evidence before us that the market is currently delivering competitive outcomes and that the proposed acquisition is not likely to substantially change that situation,” Ms Begg said. Daiken is the New Zealand subsidiary of Daiken... Continue reading
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April 5, 2018
Daiken cleared to buy MDF plant in New Zealand
The Commerce Commission in New Zealand has granted clearance for Daiken New Zealand to acquire 100% of the shares in Dongwha New Zealand Ltd. Daiken, which manufactures and supplies MDF from a plant it operates in North Canterbury, sought clearance to acquire Dongwha, which manufactures and supplies MDF from a plant it operates in Southland. In making its decision, the Commission considered competition issues in the national market for the manufacture and supply of raw MDF panels. Deputy Chair Sue Begg said the Commission is satisfied that the merger would not substantially lessen competition in the relevant market. “We were satisfied on the evidence before us that the market is currently delivering competitive outcomes and that the proposed acquisition is not likely to substantially change that situation,” Ms Begg said. Daiken is the New Zealand subsidiary of Daiken... Continue reading