Ann: GENERAL: FBU: Tasman Insulation consolidation of NZ manufacturing ops

• Release Date: 16/10/14 15:03
• Summary: GENERAL: FBU: Tasman Insulation consolidation of NZ manufacturing ops
• Price Sensitive: No
• Download Document  2.59KB

					FBU
16/10/2014 15:03
GENERAL

REL: 1503 HRS Fletcher Building Limited

GENERAL: FBU: Tasman Insulation consolidation of NZ manufacturing ops

Auckland - 16 October 2014

Tasman Insulation, a subsidiary of Fletcher Building, has announced a
proposal to consolidate its Christchurch and Auckland manufacturing
operations in response to changing market conditions.

Under the proposed consolidation, outlined to employees today, the insulation
manufacturing plant in Christchurch would be decommissioned and the Auckland
plant would become a 24/7 operation.

Tim Richards, Fletcher Building Chief Executive Building Products, said at
this time of change the company's first priority is its people. "We have a
period of consultation in place and we respect that process. At the same time
we want to be clear that we believe the consolidation is in the best
interests of our people and our customers. We are operating in a highly
competitive market impacted by an increase in volume of imported product and
a general reduction in demand for insulation following changes to EECA's home
insulation programme in 2013. We believe our proposal is the best way to
retain a New Zealand manufacturing plant for Pink Batts insulation. I also
wish to acknowledge the dedicated efforts of our people in maintaining our
market presence."

The proposal is currently being discussed with staff and union
representatives with a final decision on the outcome expected late October.
The proposed consolidation would see the disestablishment of 29 roles in
Christchurch. Current Christchurch-based customer service, sales and
warehousing roles would not be affected. Two new roles would be created in
Christchurch warehousing and nine new roles in the Auckland plant.

Mr Richards said the proposal includes retraining and redeployment
opportunities for employees. Redundancy options are also available in line
with employment contracts. However, at present there more than 200 vacancies
within Fletcher Building in New Zealand and it is hoped all affected
employees would be offered roles elsewhere in the group.

"We are focused on offering opportunities to all our employees within the
wider group of Fletcher Building companies. There are extensive vacancies
nationwide and of those more than 50 are in Christchurch. We need to retain
good people."

Ends

For Media:
Shannon Huse Caldwell
External Media Manager
Phone: + 64 9 525 9085
Mobile: + 64 27 807 2933

For Investors:
Philip King
Group General Manager,
Investor Relations & Capital Markets
Phone:  + 64 9 525 9043
Mobile:   + 64 27 444 0203
End CA:00256500 For:FBU    Type:GENERAL    Time:2014-10-16 15:03:19