Timber market under investigation
The Commerce Commission is investigating alleged anti-competitive conduct in the Auckland commercial timber market.
Trans-Tasman building products giant Fletcher Building says it is aware of the inquiry into some pricing activity in the Auckland market.
"The company is co-operating with the Commerce Commission and providing information, but Fletcher Building does not expect the commission will take any enforcement action against the company or any of its subsidiaries," it said in a statement.
Under its distribution division Fletcher Building owns the PlaceMakers chain of stores, which supply building materials to New Zealand's commercial and residential construction markets.
Fletcher announced yesterday that John Beveridge, chief executive of the distribution division, had resigned after four years in the role and will leave at the end of July.
Fletcher Building spokesman Philip King said the chief executive was leaving for his own personal reasons.
"I can't really say beyond that," King said.