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...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

My Net Worth FREE
My Net Worth: Zac Stephenson, managing director, MediaCom
Daniel Dunkley | Sun, 03 Jul 2022

MediaCom managing director Zac Stephenson says he's proud of surviving in the media industry, which can be stressful and intense. 

Finance FREE
Money Answers: what's the best share investing strategy in a recession?
Frances Cook | Sat, 02 Jul 2022

Spreading your money through good quality companies, then leaving it alone for a few years is the boring but most likely way to build wealth for most of us. 

On the Money
On The Money: Air NZ's feeding frenzy, Kerry Prendergast's movie date, and more
Pattrick Smellie | Sat, 02 Jul 2022

In this week's OTM: Greg Foran's preference for pies, Kerry Prendergast's future at the film commission, a blast from the past from Enable Networks, and more...

Digital innovation could shape the future of NZ

The digital age allows us to collaborate on some of our greatest scientific and environmental challenges

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.