Announcements     |   2 February 2010

$45 Million Investment Cements Golden Bay's Future

Fletcher Building subsidiary Golden Bay Cement opens its new $45 million Eastport service centre tomorrow, making it the largest and most modern cement facility in the country.

State of the art technology at the new Bledisloe Wharf site will more than double the storage and discharge capacity at Golden Bay's current Wynyard Wharf site.

In the first of its kind to be used in the southern hemisphere, "flat-store" technology replaces the traditional 50 metre silos seen at Wynyard Wharf with a flatter 18 metre structure.

The move makes way for the redevelopment of the Tank Farm and secures long-term deep water port access to Auckland, Golden Bay's largest market.

Mark Binns, Chief Executive of Fletcher Building's Infrastructure Division, says the facility is of major strategic importance.

"This facility secures our position in the key Auckland market for at least the next 35 years. We are uniquely positioned to increase our levels of customer service in a market that is going to see a high level of market growth, particularly in the infrastructure sector, out in to the future."

Auckland City Mayor John Banks will be on hand to officially open the facility at 2:30 pm and the centre will be fully operational in the coming weeks.

ENDS

Contact:

Philip King
General Manager
Investor Relations
Phone:    +64 9 525 9043
Mobile:    +64 274 440 203