A PYMNTS Company

New Zealand: Lawmakers call for Commerce Commission building probe

 |  November 11, 2014

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.