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John Tookey: Professor of Construction Management at AUT on Fletcher Building's sale of its construction arm
Published 3 months, 2 weeks ago
Description
Fletcher Building's calling time on its construction arm after a difficult few years.
It's signed a sale deal with French multi-national Vinci Construction, subject to regulatory approval.
The final reckoning could sit on about $334 million, and it'll move its focus to manufacturing and distribution.
AUT Construction Professor John Tookey says it's a seismic shift, but Fletcher's been overstretched in recent years, so it's not a big surprise.
He told Andrew Dickens the question is going to be whether the removal will significantly impact the profitability and sales of the building products side of things.
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