Labour lawmakers slammed the Commerce Commission this week for its inaction in the building supplies industry, according to reports.
The New Zealand party’s Housing spokesperson Phil Twyford is calling for the watchdog to investigate the market he says is controlled by a monopoly.
”Fletccher’s subsidiary Winstone Wallboard has 94 percent of the market,” Twyford said, noting that competitor Knauf Plasterboard is considering exiting New Zealand after struggling to establish itself as a viable competitor.
Twyford also noted higher building supply costs compared with Australia.
”The Government has been talking a good game but has totally failed to tackle the market monopoly,” he said, adding that the Commission must immediately probe the matter.
Full content: Scoop
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
ConocoPhillips Acquires Marathon Oil for $22.5 Billion in Major Energy Sector Consolidation
May 29, 2024 by
CPI
Judge Denies Amazon’s Bid to Dismiss FTC Lawsuit Over Prime Membership Practices
May 29, 2024 by
CPI
Germany and France Advocate for Major EU Competition Reform
May 29, 2024 by
CPI
Equifax Accused of Monopolizing Employment Verification Market in New Suit
May 29, 2024 by
CPI
Car Battery Makers to Challenge EU Cartel Charges in Brussels
May 29, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Merger Guidelines Retrospective
May 21, 2024 by
CPI
Mergers of Complements
May 21, 2024 by
CPI
Personality Traits, Private Equity, and Merger Analysis
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Lessons in the Importance of Incipiency, Modern Economics, and Monopsony
May 21, 2024 by
CPI
The 2023 Merger Guidelines: Sharpening Merger Analysis
May 21, 2024 by
CPI