PGW
06/07/2015 13:27
GENERAL
NOT PRICE SENSITIVE
REL: 1327 HRS PGG Wrightson Limited
GENERAL: PGW: Commerce Commission Investigation
PGG Wrightson (PGW) confirms that its livestock division is included in a
Commerce Commission investigation around fees associated with the
implementation of National Animal Identification and Tracing Act 2012 (NAIT)
requirements in July 2012.
PGW has cooperated fully with the Commission in its investigations.
PGW's Chief Executive, Mark Dewdney said: "We take the issues that have been
raised very seriously. The introduction of the NAIT programme was extremely
challenging for the livestock industry and PGW committed a lot of effort and
resources into making its implementation as effective as possible. PGW
considers that the NAIT programme is an important initiative to help protect
New Zealand farming's key role as a primary producer and exporter."
Although an on-going dialogue in relation to the concerns raised about
NAIT-related fees is being maintained, the Commission has indicated that it
has reached the view that the Commerce Act has been breached and has
signalled its intention to seek a pecuniary penalty from PGW. In PGW's view,
the proposed level of that penalty, whilst significant, is not materially
price-sensitive for PGW.
Further information:
Mark Dewdney, Chief Executive
Phone: 027 248 3151
End CA:00266672 For:PGW Type:GENERAL Time:2015-07-06 13:27:09
