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.
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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