Fletcher Building sells Australian aluminium business

Fletcher Building's aluminium division is selling its Australian distribution business to Capral Aluminium.

Fletcher Aluminium said in a statement today the sale of the business will have no impact on its New Zealand operations, as all product is sourced from third parties.

Fletcher Aluminium will retain its Australian joinery systems business.

The sale is part of Fletcher Building's ongoing drive to sell its non-core operations, at a profit.

Fletcher Aluminium is a division of Fletcher Building Products, in turn a wholly owned subsidiary of Fletcher Building.

Fletcher Building shares were up 2c at $2.75 by mid-afternoon.

- NZPA