Fletcher Building sells Roof Tile Group

Company News

by Rachael Jones

Fletcher Building (ASX:FBU) has sold international roofing products manufacturer Roof Tile Group for US$39 million (NZ$59.8 million).

It has been sold as a single entity to Canadian roofing company IKO, effective today.

The sale is in-line with Fletcher Building’s five year strategy to divest international operations to focus on New Zealand and Australian businesses.

Roof Tile Group is a manufacturer and distributor of metal roof tiles, operating under the Gerard and Decra brands. It manufactures in four countries, and sells products globally.

Shares in Fletcher Building (ASX:FBU) are trading 3.23 per cent lower to $5.39
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.