Fletcher books A$155m cost for Australian pipe debacle
An agreement has been reached with the WA government to pay 80% of repair costs for homes hit by bursting pipes made by Fletcher subsidiary Iplex.
The Iplex polybutylene pipes were made with Typlex resin from 2017 to March 2021.
Fletcher Building has announced a A$155 million ($168m) provision for the costs of repairing homes affected by burst pipes in Western Australia in a deal with the state government.
In a statement to the NZX, Fletcher said it had agreed to meet 80% of the repair costs, with the WA government funding
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