Fletcher Challenge was a multinational corporation from New Zealand. It was formed in 1981 by the merger of Fletcher Holdings, Challenge Corporation and Tasman Pulp and Paper. It had holdings in construction, forestry, building, and energy, initially just within New Zealand and then internationally as well, and at one time was the largest company in New Zealand. In 2001 it was split into three companies, Fletcher Challenge Forests, Fletcher Building (incorporating Fletcher Construction), and Rubicon.
History
The corporation was formed in January 1981 with the mutual merger of Challenge Corporation, Fletcher Holdings and Tasman Pulp and Paper. It was initially based in Wellington's Challenge House,[1] but later moved in 1987 to a new head office in Penrose, Auckland.
In 1987 the corporation acquired the state-owned enterprise Petrocorp, and created the Fletcher Energy division. Fletcher Energy's assets were subsequently sold to Shell New Zealand.
In November 1993 Fletcher Challenge's share market listing was split into two shares, the Ordinary Division and Forests Division. The Forests Division consisted of the corporation's wood plantation assets and forestry activities.