Fletcher counts cost of product defect in WA
Piping installed in thousands of Western Australian homes is implicated in leaks causing damage.
Resin used in the manufacture of the Pro-fit piping in Australia was not used by Iplex NZ, says Fletcher Building.
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Fletcher Building has increased its provisioning for the cost of leaky pipes installed in thousands of homes in Australia from A$2 million to A$15m.
In a statement to the NZX, Fletcher said problems were apparent with a polybutylene pipe branded Pro-fit made by its Iplex Australia subsidiary.
The
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