Now asbestos takes a toll on Hardie's health 1 State Edition

DOGGED by asbestos-related problems, James Hardie Industries yesterday posted a 35 per cent slide in quarterly net profit to $US19.5 million ($24.8 million). James Hardie signed Australia's largest personal injury settlement in December and agreed to sacrifice up to 35 per cent of its operating...

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Bibliographic Details
Published inDaily telegraph
Main Author John Beveridge, Stephen Downie
Format Newspaper Article
LanguageEnglish
Published Surry Hills, N.S.W Nationwide News Pty Ltd 15.02.2005
Subjects
Gries, Louis
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Summary:DOGGED by asbestos-related problems, James Hardie Industries yesterday posted a 35 per cent slide in quarterly net profit to $US19.5 million ($24.8 million). James Hardie signed Australia's largest personal injury settlement in December and agreed to sacrifice up to 35 per cent of its operating cash flow over the next 40 years to compensate victims of its former asbestos products. James Hardie's freshly appointed CEO, Louis Gries, also warned that the company's ability to pay future dividends could be hampered by asbestos payouts and it may need to find new borrowing facilities.
ISSN:1836-0203