Fletcher Building (FBU)

Shares / Stock Code

FBU

Stock Exchange / Sharemarket

ax

Fletcher Building (FBU) is a New Zealand based holding company principally engaged in the distribution of building products. The company has its business operations also in Australia, North and South America, Europe, Oceania and Asia. FBU’s portfolio incorporates concrete, steel, fibreglass insulation, aluminium extrusion, and roofing, access flooring systems, sinkware, laminates and panels. The Company also caters residential and commercial construction contracting services. Fletcher Building listed on Australian Stock Exchange on 26 March, 2001. FBU has about 9,000 people employed in New Zealand, 5,000 in Australia, 2,000 in the Americas, 1,400 in Europe, 1,800 in the Pacific Islands and 1,000 in Asia.

The company has varied market leadership positions in five segments – Building Products, Distribution, Infrastructure, Laminates & Panels and Steel. Fletcher Building with its diversified geographical and industry base, intends to generate reliable earnings over the long term regardless of economic cycles.

Fletcher Building History

On 28 September, 2001 Fletcher Building sold out its rural business of the Cyclone Operations to True-Test Limited. It sold the interest in the 110 hectare Lunn Avenue quarry site in Mt Wellington to Landco Mt Wellington Ltd on 16 July, 2001. On 11 July 2001, it sold some non core assets of Fletcher Aluminium to Ullrich Aluminium Company. On 23 March, 2001 the company got listed on the NZX, ASX and NYSE.

On 13 November, 2002 the group acquired Laminex Group. It announced an unconditional agreement for the sale of its Bolivian concrete businesses to Soboce SA on August 14, 2002. Fletcher Aluminium sold its Australian distribution business to Capral Aluminium on 8 July, 2002 and it de-listed from the NYSE on 15 June, 2002. On 31 May, 2002 the group sold co-generation power project assets in Australia to Energy Impact Pty Limited and sold Australian construction assets to the John Holland Group on 19 February 2002.

In 2003 the company acquired Tasman Building Products Pty. On 11 November 2004, it announced that it had signed a conditional agreement to acquire the assets of the Kuala Lumpur-based company, Malaysian Roofing Industries Snd Berhad. On March 1, 2005, FBU acquired Amatek Holdings Limited (Amatek). The Company acquired Forman Group Limited on 22 November 2006 and acquired Penrose Complex on 6 November 2006. FBU completed the acquisition of Maddren Timber business on 27 October, 2006. There was a reorganization of Building Products Division and the creation of a new Steel division on 26, October, 2006 and it acquired the O’Brien Group Manufacturing and Distribution Business on May 1st 2006. In 2007, the Company acquired Formica Corporation and Eziform Sheet Metal Pty Limited. It completed Taupo MDF plant on 10 May, 2007. The Company acquired some more steel buildings on 30th April 2008.