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.
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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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