Timber market under investigation

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

Relevant offers

Industries

Migration boom tops 50,000 for first time NZOG expects low oil prices to continue Pyne Gould admits profit gap Lincoln plant to hurry foods to market Direct link from Christchurch to Guangzhou Megaliners head to NZ Supply of low-equity home loans jumps Briscoes says cost control leads to higher profit forecast NZ dairy exports continue to dive Pacifica Shipping launches new container vessel

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

- BusinessDay

Special offers

Featured Promotions

Sponsored Content