James Hardie makes no provision on NZ Education Ministry’s leaky school claim

Thu, 23 May 2013

By Paul McBeth May 23 (BusinessDesk) - James Hardie Industries, the Australian building materials firm, hasn’t made a provision for the New Zealand Ministry of Education’s $1.5 billion suit over 300 leaky buildings, saying it hasn’t worked out what loss, if any, it may face. The Australian company and its New Zealand subsidiaries are assessing the ministry’s claim with the intention of “vigorously” defending it, but haven’t determined what liability they face, according to a note in the company’s annual financial statements. James Hardie...

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