Kerre Woodham: A one-off payment is not going to fix the problem

Best of Business · Jul 21, 2026 · 7m · transcript

I have so many questions around the Government bailout of Golden Bay Cement, which is not in fact manufactured in Golden Bay, but in Northland.

Fletcher owns the company and they said Golden Bay Cement operates New Zealand's only domestic cement manufacturing facility at Portland near Whangarei. It supplies nearly 60% of the cement used in New Zealand – about 95% of its output is sold domestically. Golden Bay Cement took a long hard look at the account books and participated in an independent assessment which confirmed that without support, rising costs —including carbon costs— would force…