Fletcher sitting on $700M of for-sale assets with Formica, Roof Tile, says Morningstar

Wed, 18 Apr 2018

By Jonathan Underhill April 18 (BusinessDesk) - Fletcher Building's Formica and Roof Tile businesses are worth about $700 million and would sell at a higher multiple than other parts of the group, say analysts at Morningstar. The company said yesterday it would exit its international division by selling Formica and its Roof Tile business to concentrate on its core building supplies, development and construction in Australia and New Zealand. Divestments could be stage 2 of a company revival led by chief executive Ross Taylor after the disc...

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