Fletcher Building expects $168m hit from leaky pipes response

Fletcher Building said Iplex’s offer of funding was not capped.

Fri, 30 Aug 2024

Fletcher Building subsidiary Iplex Australia, the Western Australia Government and several builders have agreed in principle to help Western Australian homeowners affected by leaking pipes. The response will cost Fletcher Building about A$155 million (NZ$168m).Fletcher Building shares were placed in a trading halt Friday morning as it awaited an announcement from the Western Australia Government about leaks in homes fitted with pipes manufactured by Iplex Australia between 2017 and 2022.The billThe Western Australia Government said, following a...

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