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Fletcher Building is in a trading halt ahead of a government announcement, later on Friday, about leaky pipes in Western Australian homes, manufactured by its Iplex subsidiary.
Fletcher had been in mediation with stakeholders, including the Government of Western Australia, as part of a joint industry response to the leaky pipe issue.
Perth-based building firm BGC blamed Iplex for the bursting and leaking pipes, but Fletcher said installation was the problem.
Fletcher said Friday's announcement would include material information in respect of its shares.
"This announcement is expected to outline whether the Government of Western Australia will accept a joint industry response to this issue," Fletcher said in a statement to the market.
The trading halt would remain in place until Fletcher made its own announcement, shortly after the government made theirs.
