Fletcher silent on plant rebuild

Fletcher Building is not saying if it will rebuild the medium density fibreboard (MDF) plant in Taupo burned down last year even though resolution of the insurance payout is close. The plant in Centennial Drive was shut after the fire and 70 staff have been made redundant.

A particle board plant which operates from the same site was unaffected and it continues to employ about 35 people. Fletcher Building has two large insurance claims outstanding - one for the Taupo fire and another for a problem with a transformer at Pacific Steel.

Chief executive Jonathan Ling said the company was close to resolving the insurance claims and there would be an announcement before the company's year-end.