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- Release Date: 02/07/12 11:07
- Summary: GENERAL: FBU: FBL sells Crane's metals distribution businesses
- Price Sensitive: No
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FBU
02/07/2012 09:07
GENERAL
REL: 0907 HRS Fletcher Building Limited
GENERAL: FBU: FBL sells Crane's metals distribution 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: [email protected]
For media enquiries contact:
Stephen Smith
Corporate Affairs Advisor
Phone: + 64 9 525 9125
Mobile: + 64 21 375 166
Email: [email protected]
End
End CA:00224507 For:FBU Type:GENERAL Time:2012-07-02 09:07:14
