Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


Another manufacturing exporter icon bites the dust

NZMEA Media Release - 17 April 2008

F&P closure – yet another manufacturing exporter icon bites the dust.

The New Zealand Manufacturers and Exporters Association (NZMEA), says that the closure of Fisher and Paykel’s Dunedin factory is yet another manifestation of failing policy framework. Particularly an interest based monetary policy that has seen speculation, not trade performance, driving exchange rates.

“Today’s announcement is a blow not only for Dunedin, but also the wider New Zealand economy”, says Chief Executive John Walley. “430 jobs have been lost directly, but the ramifications will be felt on a much wider basis as the supply chains that are built around that factory break down as well. As many as five jobs depend on each top tier-manufacturing employee indirectly through wages paid and directly through goods and services purchased”.

“Perhaps more importantly, skills and capabilities demanded by top tier manufacturers will be lost to us, both in term of volume and quality. If we have aspirations for an economy that is more than China’s farm, we should all be very concerned”.

“It is hard to criticise the decision by Fisher and Paykel because the necessity driving their decision is complex, but pressures of policy settings that generally bias against productive elaborate transformation and exports do not help retain activity in New Zealand”.

“If policy settings remain as they are, we can only expect more of the same. Our members’ wonder who really thinks events like these are good for New Zealand? ”, says Mr. Walley.

NZMEA – the authentic and independent voice for manufacturers and exporters.


© Scoop Media

Business Headlines | Sci-Tech Headlines


By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>


Snail-ier Mail: NZ Post To Ditch FastPost

New Zealand Post customers will see a change to how they can send priority mail from 1 January 2018. The FastPost service will no longer be available from this date. More>>


Property Institute: English Backs Of Debt To Income Plan

Property Institute of New Zealand Chief Executive Ashley Church is applauding today’s decision, by Prime Minister Bill English, to take Debt-to-income ratios off the table as a tool available to the Reserve Bank. More>>


Divesting: NZ Super Fund Shifts Passive Equities To Low-Carbon

The NZ$35 billion NZ Super Fund’s NZ$14 billion global passive equity portfolio, 40% of the overall Fund, is now low-carbon, the Guardians of New Zealand Superannuation announced today. More>>


Split Decision - Appeal Planned: EPA Allows Taranaki Bight Seabed Mine

The Decision-making Committee, appointed by the Board of the Environmental Protection Authority to decide a marine consent application by Trans-Tasman Resources Ltd, has granted consent, subject to conditions, for the company to mine iron sands off the South Taranaki Bight. More>>