The Commerce Commission has confirmed it is investigating the Auckland timber market after Fletcher Building said it was assisting with the inquiry.
Fletcher Building this afternoon said was aware of "an inquiry being undertaken by the New Zealand Commerce Commission into some pricing activity in the Auckland timber 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."
A spokesman for the commission told the Herald it was investigating "allegations of anti-competitive conduct in the Auckland commercial timber market".
The inquiry comes just a month after Housing Minister Nick Smith and Commerce Minister Craig Foss announced the commission and the Ministry for Business, Innovation and Employment were conducting a "market level study" into residential construction costs.
While Dr Smith this afternoon welcomed the Commerce Commission's timber inquiry, he said it was a separate piece of work to the market level study.