The building products group says renovator backlogs are running at double normal levels and rate rises won’t curb demand.
after the board hired an independent investigator to look into complaints about his “threatening and intimidating behaviour”.
Mr Miele said the Asia-Pacific operations, which include a substantial business in Australia, was also reporting large backlogs, similar to the US, for renovators using the company’s products, which include cladding and plasterboard. But the prospect of higher interest rates in Australia wasn’t curbing demand in the June quarter.
James Hardie’s North America president, Sean Gadd, said on Tuesday that prices had risen 5 per cent in January in the standard annual price increase round, but a special out-of-cycle increase was needed on June 20. There would be another increase next January in the standard annual review. He said rising rates aren’t a handbrake and renovators are going hard in the US. Tradespeople were at the frontline. “They will tell you they’re not getting cancellations,” he said.
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