12 Jul 2011

Fletcher Building seeks compensation - report

2:03 pm on 12 July 2011

Fletcher Building is reported to be among a group of firms seeking a total of $A50 million in compensation from the Australian government after the sudden axing of a state-funded home insulation scheme last year.

The Australian Financial Review says three firms - CSR, Fletcher Building and Knauf - have more than $A50 million of unused insulation material and Fletcher's will consider legal action if negotiations fail.

Fletcher Building reported its half year insulation earnings fell by half due to the scheme being shut down following claims of shoddy installation and the deaths of several workers.