15 Feb 2018

Fletcher quits all major builds, staff 'redeployed' - Ross Taylor

From Morning Report, 7:15 am on 15 February 2018

The construction industry is facing a major shakeup following Fletcher Building's shock loss announcement. The company has racked up close to a billion dollars of losses in the past 18 months.

The company's having to talk to its banks about new lending conditions after it breached its agreements. Yesterday its shares fell sharply on opening ending up down 10 percent at the end of trading.

Fletcher Building chief executive Ross Taylor joins Susie Ferguson to discuss the future for the company.

He says the company will finish all its building and interiors projects, and staff may be redeployed to ongoing projects.