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30-07-2024, 09:44 AM
#2441
![Quote](images/misc/quote_icon.png) Originally Posted by Rawz
Haha Hosking this morning on ZB was talking about how he finds it very strange that FBU can allow one boat to impact the business so much. He questioned why FBU didnt own the boat and why there weren't better contingencies in place. To lose $10-$30m over this.... just crazy.
FBU still in its bad news down cycle and internally its not a winning culture.
Meanwhile Buffalo seems to be unloading some cement in Christchurch for Holcim
I’m surprised how much cement we actually import.
”When investors are euphoric, they are incapable of recognising euphoria itself “
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30-07-2024, 12:27 PM
#2442
![Quote](images/misc/quote_icon.png) Originally Posted by Rawz
One day they will have a run of good luck.
One day…. Maybe never. They’ve always seemed to miss the boat if you ask me.
For clarity, nothing I say is advice....
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30-07-2024, 12:39 PM
#2443
Member
Worse than useless, also unlucky
![Quote](images/misc/quote_icon.png) Originally Posted by peat
One day…. Maybe never. They’ve always seemed to miss the boat if you ask me.
I recall Norris being Chair, quite possibly the most useless chair in NZ.
Since his getting the ass the place has continued downhill. It’s got a terrible siloed culture with many useless very highly paid executives that honestly don’t have any idea.
But possibly even worse as a company they are unlucky, fires, pipe issues boats breaking down and many many more examples.
Not for touching with a very very long pole
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31-07-2024, 03:04 AM
#2444
https://www.nzherald.co.nz/business/...ETIMSZZE7OQLI/
Fourteen-week trial for NZ International Convention Centre fire: Fletcher Construction sues waterproofers
(Paywalled)
5 years after things blew, the other side of Covid & now it's off to Court
How much did FBU trot out with back in 2019 as their Loss estimate on NZICC ?
Will the targets still be around when this makes it out the other side ?
Last edited by nztx; 31-07-2024 at 03:05 AM.
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12-08-2024, 08:39 AM
#2445
https://www.nzx.com/announcements/435956
Auckland, 12 August 2024: Fletcher Building Limited (the “Company”) today announced that it has entered into an agreement with Metal Manufactures Pty Limited (MM) to sell 100% of the shares in Tradelink, the Company’s Australian plumbing supplies and distribution business, for A$170 million.
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12-08-2024, 11:56 PM
#2446
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13-08-2024, 12:06 PM
#2447
![Quote](images/misc/quote_icon.png) Originally Posted by Sideshow Bob
https://www.nzx.com/announcements/435956
Auckland, 12 August 2024: Fletcher Building Limited (the “Company”) today announced that it has entered into an agreement with Metal Manufactures Pty Limited (MM) to sell 100% of the shares in Tradelink, the Company’s Australian plumbing supplies and distribution business, for A$170 million.
Another example of wealth destruction.
"For context, I recall them paying close to $1bn for Crane Group (of which the bulk of the business at the time was Tradelink"
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14-08-2024, 03:25 PM
#2448
Member
time for a cleanout of exec and new blood to try and rebuild a once great titan of NZ....
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14-08-2024, 03:35 PM
#2449
https://businessdesk.co.nz/article/i...-work-dries-up
'Dire' picture for civil construction contractors as work dries up
Probably Paywalled - but a good indication of the current times out there
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https://www.nzx.com/announcements/436445
Appointment of Group CEO & Managing Director
Fletcher Building Ltd (“the Company”) is pleased to announce the appointment of Mr Andrew Reding as Group Chief Executive Officer and Managing Director (Group CEO & MD). Mr Reding will commence as a Director on 22 August, and will assume the role of Group CEO & MD from 30 September.
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