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 Tax forces James Hardie Ireland move

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Tax forces James Hardie Ireland move Vide
PostSubject: Tax forces James Hardie Ireland move   Tax forces James Hardie Ireland move Icon_minitimeWed Jun 24, 2009 3:23 am
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.

The company said the move would not affect its commitment to contribute to the asbestos diseases fund, but the costs of the move would be likely to reduce its liability to the fund in fiscal 2011.

James Hardie shares were down 6 cents, or 1.4 per cent, in early trading to $4.09.

James Hardie said it would seek shareholder approval for the move to Ireland and the change to an SE corporate form at an extraordinary general meeting in Europe on August 21, the same day as the company's annual general meeting.

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