Latest twist in Metricon saga: subbies speak out

Subbies and suppliers are backing building giant Metricon, warning speculation about its financial position could become a self-fulfilling prophecy.

Metricon homes construction in Minta Estate Berwick.Picture: David Caird

SUBBIES and suppliers have come out in support of building giant Metricon launching a national advertising campaign in support of the company.

Civic Screens chief executive Stefan Styles said Metricon had never missed a payment and warned speculation about its financial position could become a self-fulfilling prophecy.

“They have never done anything wrong,” said Mr Styles, whose factory is based on the Gold Coast. “They alway try and help you if there is a problem and that is rare.”

Mr Styles is joining other Metricon subbies and suppliers including Reece, Carpetcall, Dulux and Laminex placing advertisements in support of the Melbourne-based company.

An email sent to subbies from one supplier Friday states: “we are all key suppliers of Metricon, and right now they need our help to change the public sentiment around their position. I am proud to be part of a supplier led-campaign for Metricon in Melbourne and are looking to roll this out nationally. This campaign includes print advertisements this weekend and will require a financial commitment.”

Yatala-based Civic supplies shower screens, splashbacks and cupboards for about 1000 Metricon homes in Queensland each year, making it one of its biggest suppliers.

“We don’t believe the company is in trouble,” said Mr Styles. “The problem is that customers will become nervous and it will become a self-fulfilling prophecy.

Metricon Homes. Picture: Ian Currie

“The last 12 months has been tough and margins have been pretty tight but we are all in the same boat in the industry.”

Metricon acting chief executive Peter Langfelder shot down speculation about the company’s financial stability, declaring it was “business as usual” in a press conference on a building “Our business has been very strong for 45 years and will continue to (be), for a long, long time to come,” Mr Langfelder told reporters.

Queensland’s construction watchdog says it’s monitoring any financial impacts on Metricon Homes, the state’s largest house builder.

A Queensland Building and Construction Commission spokesperson said the watchdog is aware of the challenging conditions facing the building industry and is closely monitoring the situation through its financial compliance activities.

“All building contractors in Queensland, including Metricon Homes, must comply with minimum financial requirements,” the spokesperson said.

“The QBCC has the power to take appropriate regulatory action in respect of any contractor who does not satisfy the requirements.”

QBCC data shows Metricon has completed more 2500 homes in the state in the last two years worth close to $1bn.