Building material manufacturer James Hardie will shut down its site in Penrose, Auckland, with the loss of 120 jobs.
In a statement today, the company confirmed that "following a thorough and careful two-week consultation process with its employees and their union (E Tū), James Hardie will cease all manufacturing of its products at its Penrose manufacturing plant within this year."
James Hardie General Manager Conrad Groenewald said it had been a difficult decision to make, as it affected more than 100 staff.
"We will be working through next steps with them as we begin our phased approach to stop manufacture," Mr Groenewald said.
E Tū negotiations specialist Joe Gallagher told 1 NEWS today, "It's really really disappointing, we're at a phase in New Zealand where we've got an opportunity to come out of this crisis and rebuild our economy and for us to do that we need a strong local manufacturing base."