Authority to launch phase two inquiry

THE Competition Authority has announced that it has decided to carry out a full (Phase 2) investigation in relation to the proposed acquisition by Galco Steel Limited of Sperrin Galvanisers (Irl) Limited and Sperrin Galvanisers Limited.

All of the parties are involved in the provision of steel corrosion protection systems on the island of Ireland.

The proposed acquisition has not been notified in any other jurisdiction.

The Competition Authority received notification of the proposed acquisition on June 12, 2007.

The Competition Authority has until November 17 to make a final determination on the transaction.