Fletcher Building was considering selling off some assets. (File photo) Photo: supplied
Fletcher Building is considering the sale of its construction division assets following a strategic review of the business.
The company said it was exploring potential divestment options for its Higgins, Brian Perry Civil and Fletcher Construction Major Projects business units, including the appointment of financial advisers.
The company was testing the market, though no decisions had been made to sell, Chief executive Andrew Reding said.
"Given the quality and strong recent performance of our construction businesses, and the role they will play in New Zealand's growing infrastructure pipeline, we were not surprised to receive inbound interest for them, which has motivated us to test whether there are attractive divestment options.
"We will carefully consider the value of any options presented from this process before deciding whether to move ahead."
Last month Fletcher Building announced hundreds of millions of dollars of new restructuring and impairment costs.
At an investor day briefing it disclosed estimated losses for the current financial year between $573 million to $781m of significant items which will hit its full-year results to be announced in August.
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