Fletcher to close its Christchurch insulation plant, 29 jobs 16 Oct 2014
Related articles
- NZ consumers grow more upbeat, may resume spending Business
- Sick leave expected to increase during World Cup Sport
- Knowles quits as CEO of KiwiBank Business
- NZ migration bolstered by British invasion Migration
- Sludge Report #192: The Naked Budget Columns
- Budget 2010 – Building the Recovery News
- NZ manufacturing activity reaches highest since 04 Business
- NZ dollar hits 22-month high vs euro Business
- Unemployment rate falls from 7.1 to 6 percent Recruitment
- OceanaGold finds new gold deposits at Fraser mine Business
Fletcher to close its Christchurch insulation plant, 29 jobs lost
By Suze Metherell
Oct. 16 (BusinessDesk) - Fletcher Building, New Zealand's largest listed company, will close its Christchurch insulation factory, as it consolidates its Tasman Insulations operations in a "highly competitive market".
The proposal would see 29 Christchurch factory workers lose their jobs manufacturing the construction company's Pink Batts insulation, while its Auckland factory will become a round the clock operation, the Auckland-based company said in a statement. Current Christchurch-based customer service, sales and warehousing roles will be unaffected, with two new jobs created, while nine further positions at the Auckland plant will be offered.
The move comes after the National-led government announced in its May budget that it would cut tariffs and anti-dumping duties on building products to zero, in a bid to introduce more competition into the sector. The government is trying to reduce the cost of housing, which is being underpinned by lack of supply in earthquake-damaged Christchurch, and the country's most populous city, Auckland. Last year the government launched a targeted insulation programme, subsidising installation for low income at-risk households.
"The consolidation is in the best interest of our people and our customers," said Tim Richards, chief executive of building products. "We are operating in a highly competitive market impacted by an increase in volume of imported product and a general reduction in demand for insulation following changes to EECA's home insulation programme in 2013."
Earlier in the year, Knauf, the German building materials company, failed to get Fletcher Building’s use of the “Batts” trade mark for building insulation thrown out on the grounds that it is a common name in general public use. Fletcher is facing increasing competition from Knauf and Australian suppliers. Knauf has about $1.9 billion in annual insulation sales worldwide compared to Fletcher’s $1.3 billion of total building product sales, which includes plasterboard, aluminium doors and windows, and roofing. In February, Fletcher said the local insulation market remained competitive as price declines offset volume gains.
The company would offer redundancies, but said it had over 200 vacancies within the business, of which more than 50 which were in Christchurch.
Shares of Fletcher fell 1.4 percent to $8.57 and have gained 2.1 percent since the start of the year.
(BusinessDesk)
News
Hilary Timmins' Award-Winning UK Documentary Series To Inspire NZ Students
29 Jun 2020 Education
Dream Catchers, produced and directed by Hilary Timmins, celebrates the success stories of more than thirty inspirational New... more
New Zealand reaffirms support for Flight MH17 judicial process
7 Mar 2020 News
Ahead of the start of the criminal trial in the Netherlands on 9 March, Foreign Minister Winston Peters has reaffirmed the need to... more
Business
NZ Government's Economic package to fight COVID-19
17 Mar 2020 Business News
The Coalition Government has launched the most significant peace-time economic plan in modern New Zealand history to cushion the... more
NZ Government announces aviation relief package
19 Mar 2020 Business News
Transport Minister Phil Twyford today outlined the first tranche of the $600 million aviation sector relief package announced earlier... more
Living
Diversity was Key at New Zealand Trade Tasting in London
6 Jun 2022 Food & Wine
New Zealand Winegrowers Annual Trade Tasting was recently held in London, on Wednesday 4 May, in Lindley Hall.
It was the first... more
Kiwi author stuns Behind the Butterfly Gate
12 Jan 2022 Arts
Hidden behind the Butterfly Gate is where the secret has been kept for 76 years...
New Zealand writer Merryn Corcoran’s... more
Property
Fairer rules for tenants and landlords
17 Nov 2019 Property
17 NOVEMBER 2019
The Government has delivered on its promise to the over one million New Zealanders who now rent to make it fairer... more
New Zealand Government will not implement a Capital Gains Tax
17 Apr 2019 Property
The Coalition Government will not proceed with the Tax Working Group’s recommendation for a capital gains tax, Jacinda Ardern... more
Migration
Boosting border security with electronic travel authority – now over 500,000 issued
19 Nov 2019 Migration
19 NOVEMBER 2019
We’ve improved border security with the NZeTA, New Zealand Electronic Travel Authority, which helps us to... more
Christchurch reinstated as refugee settlement location
18 Aug 2018 Migration
18 AUGUST 2018
HON IAIN LEES-GALLOWAY
The announcement that Christchurch can once again be a settlement location for refugees... more
Travel
Gallipoli Anzac Day services cancelled
19 Mar 2020 Travel & Tourism
The New Zealand and Australian Governments have announced this year’s joint Anzac Day services at Gallipoli will be cancelled... more
New Zealanders advised not to travel overseas
19 Mar 2020 Travel & Tourism
New Zealanders advised not to travel overseas
more
Sport
The Skipper's Diary: Sir Richard Hadlee honouring his father and NZ's Forty-Niners
27 Oct 2019 Cricket
NZNewsUK London Editor Charlotte Everett spoke to Sir Richard Hadlee about why he’s chosen to publish his father’s... more
PREVIEW: All Blacks v England semi-final
26 Oct 2019 Rugby
The two most convincing quarterfinals winners are set to square off in a semifinal showdown for the ages when the All Blacks meet old... more
Columns
Gordon Campbell on the Gareth Morgan crusade
11 Nov 2016 Opinion
Gordon Campbell on the Gareth Morgan crusade
First published on Werewolf
The ghastly likes of Marine Le Pen in France and Geert ... more
Gordon Campbell on the US election outcome
10 Nov 2016 Opinion
Column - Gordon Campbell
Gordon Campbell on the US election outcome
Well um.. on the bright side, there (probably)... more
Kiwi Success
Congratulations to Loder Cup winner
26 Sep 2018 People
25 SEPTEMBER 2018
The Loder Cup, one of New Zealand’s oldest conservation awards, has been awarded to Robert McGowan for 2018... more
Appointments to New Zealand National Commission for UNESCO
16 Aug 2018 Appointments
16 AUGUST 2018Appointments to New Zealand National Commission for UNESCO
HON JENNY SALESA
Associate Education Minister Jenny Salesa is... more
Recruitment
Historic pay equity settlement for education support workers
14 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more
Historic pay equity settlement for education support workers
22 Aug 2018 Recruitment
14 AUGUST 2018Historic pay equity settlement for education support workers
RT HON JACINDA ARDERN
HON CHRIS HIPKINS
Prime Minister
The... more