Fletcher Building Limited manufactures, distributes and markets a broad range of building materials and products throughout New Zealand, Australia and the South Pacific. The company operates through five divisions encompassing Light Building Products including insulations, plasterboards, steel roofing products including the world's largest steel roof tile production, laminate surfaces, high pressure laminates, decorative surfaces, plastic and concrete piping; Distribution of building, plumbing and pipeline products through PlaceMakers, Mico and TUMU brands; Heavy Building Materials covering aggregates extraction, cement, ready-mix concrete and concrete products; Residential and Development involving construction and sale of homes, apartments, retirement villages and land development; and Construction of public and commercial buildings, roads, transport, utilities and civil infrastructure. Fletcher Building employs over 12,000 people, dual-lists on the NZX and ASX under FBU.NZ and traces its origins to 1909 when James Fletcher began building houses in Dunedin, with headquarters in Auckland, New Zealand. Recent developments include a strategic reset announced in fiscal 2025 focusing on core manufacturing and distribution with divestment of underperforming assets including the sale of Australian Tradelink business for A$170 million in September 2024 and a 13.4% stake in the Pūhoi to Warkworth toll road for NZ$20.2 million in November 2025; a NZ$700 million equity raise in November 2024 followed by repayment of US Private Placement notes in November 2025 and extension of bank facilities; divisional restructure effective July 2025 into Light Building Products, Heavy Building Materials, Distribution, Residential and Development, Construction; impairments totaling hundreds of millions on assets including Iplex New Zealand goodwill ($68 million), Humes goodwill ($30 million), Mico brands ($14 million) and others; closure of Clever Core business and pause on PlaceMakers Frame and Truss expansion saving $30 million in capital; settlements on legacy projects like NZTA Puhoi to Warkworth in June 2025 and nearing completion of New Zealand International Convention Centre for handover in 2025; and exploration of residential operations sale potentially exceeding $850 million with initial offers sought by late 2025.