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For media enquiries contact:
Philip King
General Manager Investor Relations
Email: philip.king@fb.co.nz
Ph: +64 9 525 9043
Fx: +64 9 525 9032
2nd July 2012
Fletcher Building sells Crane's metal distribution businesses
Fletcher Building announces the sale of its Mico Metals and Austral Wright Metals businesses
Auckland, 02 July, 2012 – Fletcher Building today announced that it had sold its metals distribution businesses, Austral Wright Metals and Mico Metals, to AW Distribution Pty Limited and Wakefield Metals Limited, respectively. It is anticipated that, including collection of the businesses’ trade debts, the sale will realise approximately NZ$70 million.
Austral Wright Metals and Mico Metals are importers and distributors of a range of non-ferrous metals in Australia and New Zealand respectively. The businesses were acquired by Fletcher Building as part of the Crane Group acquisition in 2011.
The purchasers have a number of other metal distribution businesses in Australasia and the investors have a long history in metal distribution in the United Kingdom and Europe.
The sale was completed on 30 June, 2012.
| For investor enquiries contact:
Bill Roest Chief Financial Officer Phone: + 64 9 525 9165 Mobile: + 64 21 990 779 Email: bill.roest@fb.co.nz
| For media enquiries contact:
Stephen Smith Corporate Affairs Advisor Phone: + 64 9 525 9125 Mobile: + 64 21 375 166 Email: stephen.smith@fb.co.nz |
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