ForBarr on fence about Fletcher pipe deal, citing 'key unknowns'

Ripped out pipes made by Iplex owned by Fletcher Building. (Image: NZME)

Tue, 03 Sep 2024

Forsyth Barr analysts opt not to count their Fletcher Building chickens before they hatch.On Friday, Fletcher Building subsidiary Iplex Australia, the Western Australia Government and several builders agreed in principle to a joint industry response (JIR) to help Western Australian homeowners affected by leaking Iplex-manufactured Pro-Fit pipes.The agreement would cost Fletcher Building about A$155 million (NZ$168m), but the company will avoid a product recall.Fletcher’s share price rallied 10.5% after the announcement to $3.16. It h...

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