Holcim writes down NZ manufacturing assets ahead of closure

Sun, 06 Jul 2014

By Pam Graham July 7 (BusinessDesk) – Writedowns ahead of the closure of Holcim New Zealand’s Westport cement manufacturing plant in 2016 have blown a hole in the company’s accounts. The accounts for the New Zealand holding company, Fernhoff Ltd, for the year to Dec. 31, 2013 filed to the Companies Office on Friday show $31 million of charges for the plant, comprising a $23 million impairment and $8 million project cost writedown. The plant will close by the second half of 2016 when new import facilities at Waitemata in Auckland and Ti...

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