Fletcher's sells Crane metals distribution businesses for $70 million

Sun, 01 Jul 2012

By Hannah Lynch July 2 (BusinessDesk) - Fletcher Building, the largest construction company on the NZX, has sold the metals distribution businesses it acquired when it bought Crane Group last year for about $70 million. Fletcher sold Austral Wright Metals and Mico Metals to AW Distribution and Wakefield Metals respectively, Fletcher said in a statement. AWM and Mico Metals are importers and distributors of a range of non-ferrous metals in Australia and New Zealand. The purchasers have a number of other metal distribution businesses in Au...

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