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

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