Sumitomo Forestry denied clearance

The New Zealand Commerce Commission in March declined to give clearance to Sumitomo Forestry Co Ltd to acquire all the MDF assets and business operations of Carter Holt Harvey Ltd (Building Supplies Division) in Rangiora. Commerce commission chair Paula Rebstock said the commission could not be satisfied the proposed acquisitions would not have: "The effect of substantially lessening competition in the national market for the manufacture and supply of raw MDF panels".