June 21 (Reuters) - New Zealand's largest construction company Fletcher Building FBU.NZ said on Thursday it would consolidate its Australian operations and appoint chief executive of distribution Dean Fradgley as the new division's head.
The new operating model will be introduced on July 1 and will is expected to reduce annual overheads across the group by NZ$30 million ($20.6 million), Fletcher said as it attempts to recover from years of cost overruns in its commercial construction business.
($1 = 1.4575 New Zealand dollars)