James Hardie sees NZ leaky building, schools legal action costing up to US$47.6 mln

Thu, 14 Nov 2013

By Paul McBeth Nov. 14 (BusinessDesk) - James Hardie Industries, the Australian building products maker, says it faces potential net costs of up to US$47.6 million with a slew of leaky building cases and the New Zealand Ministry of Education’s class suit hanging over its head. The Sydney-based company has taken a provision of US$20.4 million over New Zealand leaky buildings constructed between 1998 and 2004 and a provision of US$15.2 million over the Education Ministry’s NZ$1.5 billion class suit against cladding manufacturers, according to...

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