Carter Holt Harvey fined $1.85M for timber price fixing agreement with Fletcher in Auckland

Wed, 26 Mar 2014

March 26 (BusinessDesk) – Carter Holt Harvey, the wood company owned by Graeme Hart’s Rank Group, was fined $1.85 million by the High Court for price fixing in the Auckland commercial timber market. Carter Holt was ordered to pay the penalty, and its former manager Dean Dodds fined $5,000, after it entered into an understanding with Fletcher Building’s distribution arm in late 2012 to fix prices for the supply of structural timber to commercial customers in Auckland, the Commerce Commission said in a statement. The parties agreed to price MS...

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