What’s at stake: Fletcher Building has blamed the impact of a slow residential market for troubles at its distribution arm for an expected $75 million hit to its end-of-year earnings. Hardware and supply merchant PlaceMakers is at the heart of that business.
Background: PlaceMakers has operated under a joint venture partnership model for 35 years. Its corporate owner, Fletcher Building, says that structure remains a key lever to its success – but has diluted JV ownership to 30% of its 64 stores.
Main players:Fletcher Building, PlaceMakers, Tumu, Ralph Waters, James Peters, Ross Taylor, Commerce Commission, ITM, Satish Ranchod.
When Ralph Waters took the top job at Fletcher Building in 2001, it was during a transitional year for the company – its first following the dismantling of Fletcher Challenge.
The Queenslander proceeded to hive off several assets that first year, including its South American concrete business and
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What’s at stake: Fletcher Building has blamed the impact of a slow residential market for troubles at its distribution arm for an expected $75 million hit to its end-of-year earnings. Hardware and supply merchant PlaceMakers is at the heart of that business.
Background: PlaceMakers has operated under a joint venture partnership model for 35 years. Its corporate owner, Fletcher Building, says that structure remains a key lever to its success – but has diluted JV ownership to 30% of its 64 stores.
Main players:Fletcher Building, PlaceMakers, Tumu, Ralph Waters, James Peters, Ross Taylor, Commerce Commission, ITM, Satish Ranchod.
