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Haier Reaffirms Commitment to Keeping Fisher & Paykel Kiwi

28 November 2012

MEDIA RELEASE

Haier Reaffirms Commitment to Keeping Fisher & Paykel Appliances Kiwi

Fisher & Paykel Appliances Holdings Limited (Fisher & Paykel Appliances) has been delisted from the NZX. Haier New Zealand Investment Holding Company Ltd (Haier) has reaffirmed its commitment to keeping Fisher & Paykel Appliances Kiwi, even though it is no longer listed on the NZX.

Chairman of Haier New Zealand Investment Holding Company Ltd, and President of Haier White Goods Group, Liang Haishan said Haier recognised Fisher & Paykel Appliances was a unique Kiwi company.

“We think a key part of Fisher & Paykel Appliances success is driven by the culture of the company – things like inventiveness and willingness to take on the world despite its size. There is also a family spirit about the company. These things reflect New Zealand values and we want to retain them,” Mr Haishan said.

He said Haier was very firm in its intentions to supporting the existing business strategy of Fisher & Paykel Appliances, to retaining its CEO and head office in New Zealand, and to retaining the current ratio of New Zealand and Australian independent directors on the company’s board for at least the next two years, and would only change these intentions after consultation with the Fisher & Paykel Appliances board.

“We see these as clear signals of our intentions to grow Fisher & Paykel Appliances as a New Zealand company on the world stage with the backing of Haier. We are very excited by the prospect.”

ENDS

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