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Fletcher Building Limited (ASX:FBU) says it will gain about $55 million from the sale of its metals distribution businesses, Austral Wright Metals and Mico Metals.
The building products manufacturer, also dual listed in New Zealand, acquired the businesses as part of its acquisition of Crane Group last year.
The businesses are importers and distributors of a range of non-ferrous metals in Australia and New Zealand.
Fletcher Building says the divestment was completed at the end of the 2012 financial year.
Fletcher Building reported a net profit of $112.6 million in the first half of the 2012 financial year.
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