Ann: ASSET: FBU: Fletcher Building completes sale

• Release Date: 03/06/14 13:44
• Summary: ASSET: FBU: Fletcher Building completes sale of Pacific Steel
• Price Sensitive: No
• Download Document  1.09KB

					FBU
03/06/2014 11:44
ASSET

REL: 1144 HRS Fletcher Building Limited

ASSET: FBU: Fletcher Building completes sale of Pacific Steel

Fletcher Building completes sale of Pacific Steel's New Zealand business to
BlueScope Steel

Auckland - 3 June, 2014

Fletcher Building Limited advises that it has completed the sale of the
downstream long-products rolling and marketing operations of Pacific Steel to
BlueScope Steel Limited, on the terms outlined in the announcement of 17
February 2014.

The sale includes Pacific Steel's rolling mill and wire drawing facilities in
New Zealand. Sale of the Fijian rolling mill has not yet been completed with
regulatory clearance in Fiji still required.

Fletcher Building expects to record a significant expense item of up to $19
million, reflecting the gain on sale of assets, offset by transaction costs
and adjustments to asset carrying values.

For further information contact:

Philip King
Group General Manager,
Investor Relations & Capital Markets
Phone:  + 64 9 525 9043
Mobile:   + 64 27 444 0203

Ends
End CA:00251148 For:FBU    Type:ASSET      Time:2014-06-03 11:44:39