When the acquisition was first announced in March 2007, Contact Energy chief executive David Baldwin said that the purchase of Rockgas would give the company a unique platform in New Zealand’s energy markets and would provide strong growth opportunities for Rockgas through Contact’s large customer base.
Rockgas currently supplies bottled and reticulated liquefied petroleum gas (LPG) and automotive products to around 300 bulk industrial clients, 7,000 commercial customers and over 17,000 domestic customers. The company sells around 90,000 tonnes of LPG per annum.
Contact’s acquisition of Rockgas means that it can now supply LPG, as well as electricity and reticulated natural gas, to those homes and businesses in New Zealand that are not connected to gas networks, or those that wish to use LPG to manage peak energy demands.
Commenting on the newly completed acquisition, which is effective as of May 1, 2007, Mr Baldwin said: This acquisition presents strong growth opportunities for both Contact and Rockgas, and our first targeted campaign offering both electricity and LPG to consumers will begin almost immediately.
