Mercer shares tumble after final loss from Fonterra's collapsed silo an estimated $20M

Tue, 14 Nov 2017

By Rebecca Howard Nov. 14 (BusinessDesk) - Mercer Group shares dropped 17 percent after the stainless steel fabricator said Fonterra Cooperative Group's final loss from the collapse of a silo it designed and supplied was $20 million. The company's Mercer Stainless division designed and supplied a silo to TetraPak that collapsed at Fonterra's Edendale factory in September 2016. At the time, Mercer said the loss could be as high as $45 million. It also said it has professional indemnity and public and products liability insurance but that...

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