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New Zealand's Winstone Wallboards faces court action over anticompetitive conduct

( November 1, 2024, 01:34 GMT | Official Statement) -- MLex Summary: Publicly listed New Zealand company Fletcher Building’s subsidiary Winstone Wallboards is facing court action over anticompetitive conduct, the country's antitrust regulator said. In a statement today, the New Zealand Commerce Commission alleged that Winstone Wallboards, a manufacturer of GIB-branded plasterboards, used retroactive tiered rebates in its plasterboard supply agreements with building-supply merchants between 2017 and 2022, which breached the 1986 Commerce Act. The regulator has filed a lawsuit against the company in the Auckland High Court, alleging breaches of Sections 27 — contracts substantially lessening competition — and Section 36 — misuse of market power — of the Commerce Act. In a statement to the New Zealand stock exchange, Fletcher Building said that Winstone Wallboards intends to “vigorously” defend itself.The full statement from the New Zealand Commerce Commission and Fletcher Building follows:...

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