Asbestos fund threatened by tax case: James Hardie
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James Hardie says the fund set up to compensate victims of asbestos-related diseases is in a good cash position but future contributions could be under threat if it loses a disputed tax case.
Chief executive Louis Gries says James Hardie is making quarterly contributions to the fund, which has a two to three-year buffer zone before it runs out of money.
Mr Gries says the row between James Hardie and the Tax Office could see future contributions made by the company to the fund reduced.
"Certainly cash outflows, whether they be to the tax office or anyone else that affects our net operating cashflow does reduce the cashflow cap that the fund receives, its contributions based on," she said.
