James Hardie settles legal action with NZ government over leaky school buildings

Mon, 23 Dec 2013

Dec. 24 (BusinessDesk) – James Hardie Industries, the Australian building materials supplier, settled legal action with the New Zealand government over leaky school buildings. While the terms of the deal are confidential, Sydney-based James Hardie said in its second quarter financial statements in November that it faced potential costs of up to US$47.6 million related to a slew of leaky building claims, including provision of US$15.2 million for the New Zealand Education Ministry’s $1.5 billion class suit against cladding manufacturers. The...

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