31 Oct 2012

Fletcher Building re-jigs divisional structure.

7:03 am on 31 October 2012

Fletcher Building has simplified its divisional structure.

New chief executive Mark Adamson has done away with the steel division and put its various operations into other parts of the construction and building products firm's business that reflect the markets in which the steel is used.

The long steel and distribution firms will become part of a renamed infrastructure products, which includes concrete, and will be headed by Concrete's head Mark Malpass.

Meanwhile, the coated steel businesses will come under the wing of the company's building products division head Tim Richards.

Mr Adamson says infrastructure products division makes products that are typically used in the early part of the construction cycle and involve heavy manufacturing processes.

The building products arm is comprised of building materials businesses that are more commonly utilised in the middle and latter parts of the construction cycle.

Fletcher Building's share price dropped 15 cents to $6.92 on Tuesday.