When Fletcher Building paid around $1 billion for Formica in 2007, the business was only three years out of a financial hole and Chapter 11 bankruptcy.

Fletcher Developments wants new houses to be taller than the Auckland Council is proposing.

Fletcher Building is making a big push into Auckland's apartment development market, forming specialist new division Fletcher Developments this year to hunt down opportunities on big sites.

New Zealand shares rose yesterday as another consumer confidence survey showed improving sentiment, especially in Auckland, even as Australian jobs data disappointed financial markets.

New Zealand shares rose on the first trading day of 2013, following gains on Wall Street, as investors drove up companies that have featured on broker lists for 2013, such as PGG Wrightson and Ryman Healthcare.

Distribution and logistics centres in the spotlight as firm looks to save money.