Australian-based shareholders of James Hardie will be briefed on the proposed compensation deal for asbestos victims at an Extraordinary Information Meeting being held by the company in Sydney tomorrow (Thurs. 1 Feb, 2007).


James Hardie is providing its Australian-based shareholders with a briefing on the proposed compensation deal in Sydney before the final funding agreement is voted on at the company’s extraordinary general meeting in the Netherlands on February 7.


ACTU Secretary Greg Combet is urging James Hardie’s Australian shareholders to throw their support behind the asbestos compensation deal negotiated with the company by the ACTU, asbestos victims groups and the NSW Government.


ACTU Secretary Greg Combet said:


“Tomorrow’s information meeting for Australian shareholders in James Hardie is an important opportunity for shareholders to send a clear message to the Board and Management of James Hardie that they support the asbestos compensation agreement and want it to go ahead.”


“This deal is about ensuring that current and future Australian victims of James Hardie asbestos products are properly compensated and that James Hardie can continue to operate as a profitable and successful company.”


“The ACTU, unions, asbestos groups and the NSW Government have worked very hard to secure justice for James Hardie asbestos victims and I urge all Australian shareholders in the company to support the proposed compensation agreement.”