New Zealand's largest interior door maker is holding its own against intense competition from overseas companies.

The buyers have a number of other metal distribution businesses in Australasia. 

Economic recovery will take years, not months, says outgoing Fletcher Building chief executive.

Owners of earthquake-damaged homes in Canterbury may be encouraged by a Fletcher Construction announcement that the first project management site office is being set up in Halswell in the south-west of Christchurch.

For many of the 50,000 affected homeowners the wait has been agonisingly long.
Offices will subsequently be established in Rolleston and Kaiapoi once locations have been agreed with the local council. The timetable is for the week commencing November 8.

Fletcher Building, Steel & Tube and Cavalier Carpets shares soared while Tower shares plunged as investors assessed the implications of Saturday's destructive earthquake in Canterbury on the corporate sector.

Brokers said at times the reaction was knee-jerk as Tower's losses will be limited to $3.5 million after-tax because of re-insurance, and the flow of work for builders will be over a period of time.

Many companies issued statements detailing the impact on their assets in the quake zone and banks moved to offer support packages to customers.