NEWS ON CONSTRUCTION

Materials maker James Hardie Industries denies that it will close down its Australian businesses. chief executive Louis Gries stated that its Australian interests were performing perfectly well and that it plays a key role in its Asia-Pacific focus. This comes on the back of claims that James Hardie is planning to move Domicile (a key corporation of James Hardie) from the Netherlands. Although the company has its main headquarters in California its association with its Dutch branch is under threat as a key tax arrangement with the Dutch government ends in 2010 meaning that their would be little point in keeping the current arrangement. This comes on the back of a 20% fall in operational earnings last year because of the housing slump in the US.


Article sourced from:

http://www.news.com.au/mercury/story/0,22884,23740882-462,00.html?from=public_rss

on 6/5/2008