Fletcher Building Limited ('Fletcher Building') has announced that it is proposing to close the particleboard factory at Kumeu.
Financial returns from the plant, which manufactures particleboard for the domestic New Zealand market, have deteriorated due to reduced demand and over capacity in the industry. Production of particleboard will continue at Fletcher Building's Taupo plant. Customers will not be affected by the change.
Consultation has commenced with the 41 employees affected by the proposed closure.
The proposed closure would not have an adverse effect on Fletcher Building's future operating earnings.
For further information contact:
Investor & Media Relations
Ph: +64 9 525 9043
Mob: +64 27 444 0203