The Australian Competition and Consumer Commission will not take any action over the proposal by Carter Holt Harvey Limited and its US parent company, International Paper Company, to acquire jointly Continental Cup Company Pty Ltd.
Continental Cup is an Australian-based producer of paper cups and related products.
"The ACCC decided not to oppose a similar proposal by Carter Holt Harvey to acquire Continental Cup in 1996. We concluded then that the market share of the merged organisation was unlikely to meet the market concentration thresholds employed by the ACCC", Acting Chairman, Mr Allan Asher, said today.
"For commercial reasons this proposal is now proceeding with some minor changes. We have re-examined the matter, and concluded that circumstances in the market have not changed sufficiently to vary our decision."
