ASX-listed CSR takes $9.5 mln provision for leaky NZ schools

Fri, 12 Sep 2014

By Paul McBeth Sept. 12 (BusinessDesk) - CSR Building Products (NZ), the unit of the ASX-listed building products maker, faces a bill of up to $9.5 million after cutting a deal with the government to settle looming legal action over the nation's leaky schools, a fraction of the near billion dollar writedown taken on New Zealand's state-owned schools. The New Zealand unit of CSR took a $9.5 million provision to meet product liability claims in the 2014 financial year, having not made a similar provision in 2013, according to financial stat...

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