James Hardie Gets $393 Million State Loan to Boost Asbestos Fund, ABC Says Nov 7, 2009
Nov. 7 (Bloomberg) -- James Hardie Industries NV, the building materials company, received a A$320 million ($293 million) state loan to ensure the company can pay compensation to asbestos victims, the Australian Broadcasting Corp. reported on its Web site. The loan from the federal governent and the New South Wales government isnt due until 2020, the ABC reported. (Bloomberg -- Australia & New Zealand)
Asian stocks trim weekly losses on RBA view Nov 6, 2009
5 per cent. James Hardie Industries, the top seller of home siding in the US, advanced 2. 1 per cent. Asahi Glass, Asia's largest glassmaker, climbed 7. (Sydney Morning Herald -- Business)
Asian stocks sink most in three weeks Oct 27, 2009
2 per cent. James Hardie Industries NV, the No. 1 seller of home siding in the US, fell 4 per cent as US senators discussed cutting a tax credit for homebuyers. The Kospi Index lost 1 per cent in Seoul. (Sydney Morning Herald -- Business)
James Hardie Says Abestos Fund Contributions Impacted on Cash Flow Decline Oct 26, 2009
Oct. 26 (Bloomberg) -- James Hardie Industries NV said its contributions to the Asbestos Injuries Compensation Fund have been impacted by the drop in the companys cash flow. Last Updated: October 26, 2009 02:06 EDT. (Bloomberg -- Australia & New Zealand)
Hardie fund may be out of money soon Oct 26, 2009
A compensation fund established by James Hardie Industries could run out of funds by mid-2010, figures show. The Asbestos Injuries Compensation Fund (AICF) was set up by James Hardie in 2006 to compensate sufferers of asbestos-related diseases and relies on annual contributions from the companys free cash flow. (Sydney Morning Herald -- Business)
Asian stocks post first gain in four days Oct 6, 2009
James Hardie Industries NV, the biggest seller of home siding in the US, advanced 2. 9 per cent to $7. (Sydney Morning Herald -- Business)
James Hardie appeals court decision Sep 23, 2009
James Hardie Industries NV is appealing a court decision that fined the company $80,000 for breaches of continuous disclosure rules. NSW Supreme Court Judge Ian Gzell also imposed hefty fines on former board members and bans on them for managing a company for varying lengths of time over misleading statements about a compensation fund for asbestos victims. (Sydney Morning Herald -- Business)
Hardie looks for love on Facebook Aug 24, 2009
THE loyal Australian fan base of James Hardie Industries is set to take another battering this week with the publication of a book detailing its illustrious history. Now it appears the former asbestos fibro-sheet maker is looking to the US not only for its future business opportunities but also some emotional support. (Sydney Morning Herald -- Business)
James Hardie execs await court ruling Aug 19, 2009
The disgraced former directors of James Hardie Industries will learn on Thursday if they will be fined or banned from managing other companies ... Peter Macdonald's legal team have argued for a lower-range penalty than that sought by ASIC, and the remaining defendants, including James Hardie Industries NV, have argued for exoneration ... James Hardie Industries reported on Tuesday it had spent $24. (Sydney Morning Herald -- Business)
Hardie soars as US housing slump eases Aug 18, 2009
James Hardie Industries has stoked hopes its US fibre cement business has past the worst of the housing slump, after the business reported its first lift in quarterly pre-tax profits since the downturn started more than three years ago. The company reported a $US77. (Sydney Morning Herald -- Business)
Hardie bosses face Ireland inquisition Aug 17, 2009
James Hardie Industries NV directors are likely to face shareholder anger when they meet on Tuesday to explain a proposed move to Ireland. The building materials company is planning to shift its domicile from the Amsterdam to Dublin in a bid to receive more favourable tax benefits. (Sydney Morning Herald -- Opinion)
* Asian stocks rise as profits bolster recovery hopes Aug 16, 2009
James Hardie Industries NV, the No. 1 seller of home siding in the US, jumped 15 percent in Sydney, after the Federal Reserve said the recession was easing and the nations unemployment rate dropped. Komatsu Ltd and Hitachi Construction Machinery Co, Asias two largest makers of earthmoving equipment, rose in Tokyo following ratings upgrades. (Taipei Times, Taiwan -- World Business)
Hey Hardie, spare us a dime? Aug 1, 2009
Former directors of the leading philanthropy and corporate ethics consultancy, James Hardie Industries, appeared in the NSW Supreme Court on Monday, protesting against ASICs plans to punish them for breaches of director duties, including the fact they had knowingly short-changed their asbestos compensation fund by $1. 9 billion. (Sydney Morning Herald -- Opinion)
Australian Foundation profit falls 75% Jul 27, 2009
Major sales during the 12-month period included St George Bank, following the takeover by Westpac Banking Corp, Queensland Gas Company, after the takeover by BG Group Plc, and Suncorp-Metway and James Hardie Industries NV, on concerns about gearing levels and dividend payments. AFI increased its holdings in Westpac, partly because of the takeover of St George, Rio Tinto, Santos and National Australia Bank, taking advantage of new share sales. (Sydney Morning Herald -- Business)
James Hardie former directors banned, face fines Jul 27, 2009
The court found James Hardie Industries Ltd and all 10 former board members made misleading and deceptive comments in a press release issued on February 16, 2001, announcing the establishment of a fund for compensation to asbestos victims. In a Federal Court hearing on Wednesday, to determine penalties, ASIC sought fines against the former non-executive directors of at least $120,000 and disqualification periods for a minimum of five years. (Sydney Morning Herald -- Business)
* Asian stocks advance on corporate earnings optimism Jul 26, 2009
James Hardie Industries NV, the biggest seller of home siding in the US, surged 24 percent in Sydney after reports showed US homes prices climbed. Chartered Semiconductor Manufacturing Ltd (S\)the worlds third-largest maker of customized chips, gained 6. (Taipei Times, Taiwan -- Sports)
Asian stocks rise to 10-month high Jul 20, 2009
Jiangxi Copper, China's largest producer of the metal, surged 6 per cent in Shanghai, while James Hardie Industries, the biggest seller of home siding in the US, climbed 5. 6 per cent in Sydney. (Sydney Morning Herald -- Business)
Tax forces James Hardie Ireland move Jun 24, 2009
Building supplies producer James Hardie Industries NV is to move its base from The Netherlands to Ireland in a new form of European corporation known as an SE.. James Hardie said today the move should improve its chances of qualifying for tax benefits in the United States, which it had failed to achieve through its earlier move to The Netherlands. (Sydney Morning Herald -- Business)
ELIZABETH KNIGHT Jun 17, 2009
It beggars belief that James Hardie Industries would even consider moving to minimise its tax obligations. Saturday June 13, 2009. (Sydney Morning Herald -- Business)
Looking for the joke in James Hardie's move Jun 17, 2009
It beggars belief that after 20 or more years of attempting to skirt its obligations to various tax authorities and asbestos victims, James Hardie Industries would even consider moving its corporate domicile to another country to minimise its tax obligations. The bulk of its shareholders live in Australia and the overwhelming majority of its assets lie in the US but reports this week (which the company has not denied) suggest that it is looking to move its domicile from the Netherlands to... (Sydney Morning Herald -- Business)
James Hardie faces asbestos claims blowout May 20, 2009
The slump in the United States housing market has dragged James Hardie Industries to a 44 per cent drop in net operating profit, while problems relating to asbestos disease compensation continue to hang over the company. The operating profit of $96. (Sydney Morning Herald -- Business)
Don't panic about compo shortfall - Mrs Banton May 20, 2009
" Compensation claims reached their highest level yet in the financial year 2008-09, with 607 claims and $96.2 million paid out. AAP Related Coverage 10:14am James Hardie Industries NV's full year operating profit declined 44 per ... Today in Business Story Tools The latest trend for cyclists is 'fixies' - fixed-wheel bikes with no gears or free-wheel mechanism. Immerse yourself in the Japanse culture for an experience that won't be easily forgotten. A 1957 Ferrari 250 Testa Rossa was auctioned... (Sydney Morning Herald -- Business)
Noble offer for Gloucester means Whitehaven's on its own May 19, 2009
It will be back to business as normal for James Hardie Industries tomorrow, if its latest full-year results announcement can be described in such a manner. Having been rocked by the latest judgments in the NSW Supreme Court about its behaviour in setting up its asbestosis compensation scheme, the company is likely to cap off a bad PR year with a 40 per cent slump in net profits for this year, according to analysts. (Sydney Morning Herald -- Business)
Sun, sea and a spot of scrutiny May 11, 2009
Odd though, how the speakers' notes do not mention Terry's other relevant experience in the D&O field, as a former director of James Hardie Industries. And how he recently had a rather unfavourable judgment in the case of Plod v Hardie directors and executives over the small matter of asbestos disease funding. (Sydney Morning Herald -- Business)
Telstra chairman steps down May 8, 2009
"Nothing should be allowed to get in the way of David and the management team getting on with the important job ahead of them.'' The Telstra board also has appointed Telstra's chief financial officer John Stanhope, a contender for the CEO's position, as an executive director of the Telstra board. The controversy surrounding building materials supplier James Hardie Industries' handling of its responsibilities to the asbestos diseases fund claimed another casualty when Telstra said another... (Sydney Morning Herald -- Business)
Hardie reviews cost of $US13.4m court loss Apr 28, 2009
Building products supplier, James Hardie Industries, is reviewing the amount it has set aside for a court action against a former subsidiary in Chile, following an award of $US13. 4 million to the claimant. (Sydney Morning Herald -- Business)
Directors of Allco face board sweep Apr 28, 2009
Mr Clarke's decision follows the departure of an AMP director, Meredith Hellicar, who resigned because of her links with James Hardie Industries. The fallout from Ms Hellicar's resignation prompted Mr Clarke, a director of AMP since July 2005, to take soundings over the weekend from boardroom colleagues, shareholders and friends about his own position. (Sydney Morning Herald -- Business)
Secrets of the James Hardie boardroom Apr 11, 2009
Seventeen men and a woman attended the James Hardie Industries Ltd board meeting that led to the trashing of the company's reputation. Ten were directors and the others, executives and consultants, were there to brief them and answer their questions. (Sydney Morning Herald -- Business)
Telstra chairman slams job loss 'hysteria' Mar 7, 2009
" Every business leader is focused on making the right decisions, Mr McGauchie said, but in the current economic environment there are lot of external forces which cannot be controlled. "Commentators, outside the boardrooms confronting these very real and critical issues, are often unaware of the complexity of the issues that are being managed," Mr McGauchie said. Mr McGauchie is also a director with James Hardie Industries and Nufarm. AAP Story Tools Got for us? Today in Business The youngest... (Sydney Morning Herald -- Business)
James Hardie hearings conclude Mar 2, 2009
Hearings in the corporate watchdog's landmark legal action against former board members of James Hardie Industries Ltd have concluded after 45 days of evidence ... The two other defendants are James Hardie Industries NV and ABN 60, formerly known as James Hardie Industries Ltd. ... At the centre of the case is a February 16, 2001 press release issued by James Hardie Industries in which ASIC alleges it made unequivocal statements that its compensation trust was fully funded. (Sydney Morning Herald -- Business)
Hardie set to up stumps again Feb 15, 2009
James Hardie Industries has provided its strongest signal yet that it plans to shift its corporate base and primary listing to the US by the end of this year, after its chief executive, Louis Gries, expressed frustration over the "complexity" of running a company headquartered in the Netherlands. "I don't think the Netherlands domicile is sustainable for us," Mr Gries said from Amsterdam during a phone call to analysts and journalists to announce Hardie's third-quarter results. (The Age, Australia -- Business)
James Hardie boosted by US stimulus Feb 12, 2009
Shares in James Hardie Industries, the biggest seller of home siding in the US, surged the most in more than 11 years on expectations US President Barack Obama's stimulus package will bolster the housing market. rose sharply on the news, gaining 36 cents, or 11%, to close at $3. (The Age)
