Competition watchdog probes Auckland timber market

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.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

MEL - Ampol exits retail electricity, Meridian takes on customers
Deposit scheme reduces risk, boosts trust - General Finance
May 12th Morning Report
PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report