Taylor plans to restructure the company into seven operating divisions from five currently, saying a move to a decentralised operating model will cut annual overheads by $30 million. Today's announcement is the result of a strategic review led by Taylor, who started last November. Under the new operating model, effective from July 1, all the Australian businesses will sit in their own division while in New Zealand, the concrete and steel operations will also be created as new divisions.
Fletcher's 2018 results to include one-time charges of $85M-$95M for restructuring, impairments of Rocla, Roof Tiles
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Fletcher Building chief executive Ross Taylor said the company expects to take restructuring charges of $85 million to $95 million in its 2018 results as it moves to a decentralised operating model with more divisions and will also write down the value of its Rocla and Roof Tile businesses.
- Source/ReadMore: Sharechat