Mercer and its insurers settle over Fonterra silo collapse

Mon, 04 Mar 2019

By Rebecca Howard March 4 (BusinessDesk) - Stainless steel products manufacturer Mercer and its insurers have settled all potential claims associated with the collapse of a silo at Fonterra’s Edendale site in 2016, the company said in a release to the stock exchange. The terms of the full settlement are confidential but Mercer will pay Fonterra $1 million and undertake $3 million of work over a three-year period at a discounted rate, it said. Mercer is agreeing to the above without any admission of liability to Fonterra or any other party...

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