Timber market under investigation

MARIA SLADE
Last updated 15:44 28/06/2013

Relevant offers

Industries

Business briefs: new casino bosses Liquidator to pay for 'buffoon' comment New Zealand stocks "fair value" Business backs Labour's manufacturing plan Consumers chipper as economy picks up Labour market takes off BNZ names new chief executive Need to know: Thursday April 17 Garden centres snub Easter law Construction prices still rising

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.

Ad Feedback

- © Fairfax NZ News

Special offers

Featured Promotions

Sponsored Content