Sharechat Logo

Competition watchdog probes Auckland timber market

Friday 28th June 2013

Text too small?

The Commerce Commission is investigating allegations of anti-competitive behaviour in the Auckland commercial timber market, but Fletcher Building says it doesn't expect to face enforcement action.

The NZX-listed construction products company revealed the probe by the competition regulator in a brief statement to the stock exchange, and the commission confirmed it was investigating but would reveal no further details.

The Fletcher statement said the company was cooperating with the commission and providing information on "some pricing activity in the Auckland timber market."

"The company does not expect the commission will take any enforcement action against the company or any of its subsidiaries."

The Fletcher Building share price was up 1.1 percent this afternoon, trading at $8.54.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Mercury points to peaking gains as FY production drops 10%
Asset Plus sells Heinz Watties distribution centre for $29.1 mln
18th July 2019 Morning Report
COMMENT: RBNZ's key political omission in its bank capital proposals
ANZ and Westpac credit rating outlooks downgraded to 'negative' outlook: Fitch
MARKET CLOSE: NZ shares edge higher in quiet trading; weaker currency buoys exporters
NZ dollar stalled amid uncertainty about US rate cuts
RBNZ a 'poor communicator' - CBL's Harris
Methane reduction target could be catastrophic - Fonterra Shareholders' Council
Greater role for gas in electrification of transport, industry

IRG See IRG research reports