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

 


Fisher & Paykel Announces Plans For Expansion

Thursday 28 February 2013
Media Statement

Fisher & Paykel Announces
Plans For Expansion

New Owners, New Products, New Jobs For New Zealand’s Leading
Premium Whiteware Brand

Fisher & Paykel Appliances is in expansion mode as new owner, Haier, creates opportunities for accelerated growth to build the Fisher & Paykel brand further. Specific areas of focus include technology innovation, new product development and the company’s component and technology business.

“Fisher & Paykel is focused on New Zealand-led expansion. While we remain a standalone company with a strong, localised management team, our new owners are providing the opportunity for us to deliver our business development plan far faster than we were previously planning,” says Fisher & Paykel Chief Executive, Stuart Broadhurst.

“Growth is planned across New Zealand in the next 24 months as we recruit for 100 research and development positions to Fisher & Paykel’s Auckland and Dunedin operations, as well as further job creation in other areas of the company. This expansion of specialist skills will entrench our company’s expertise, enabling us to continue to deliver the world-leading innovation we are known for, with continued emphasis on quality.

“In the next few months we will be releasing the largest number of new Fisher & Paykel products at any one time in our company’s 79 year history. These products include new refrigeration, cooktops, a new oven platform and new laundry products.

“As well as local brand expansion, our focus has always been to continue to develop the Fisher & Paykel and DCS brands in New Zealand, Australia and North America, as well as boosting our presence in the emerging markets of China and India. It is important to note that we are designing the new Fisher & Paykel products for these markets from our New Zealand base.

“I have recently returned from China where I finalised amongst other things, an agreement for our New Zealand-based production machinery business to undertake a number of significant projects to automate production facilities over the next five years. We will also boost our motor design capability and motor production capacity to meet increasing demand from Haier and other third party customers.”

Over the last three years Fisher & Paykel has been building a strong relationship with Haier.

“Our unique expertise and premium product positioning is what Haier is investing in, and the Group wants that to remain New Zealand-led. This means we will be expanding the Fisher & Paykel brand both locally and globally, giving people greater visibility of our product ranges, the technology behind them, and how they can make our lives easier”.

Mr Broadhurst says the ability to accelerate plans and deliver growth quickly is generating optimism around the company.

“We’re fast-forwarding our long term plan which is generating real enthusiasm from people who see the opportunities ahead. We are investing to build product development capability for Fisher & Paykel, and will also look to provide New Zealand led design, innovation and disruptive technologies for the wider Group.

“For us, this means an increase in specialist positions so those people can create world-leading products for Fisher & Paykel, as well as deliver technologies globally in enormous scale through the Group’s network,” Mr Broadhurst said.

Longer term plans are for Fisher & Paykel to build its capabilities here and internationally to contribute to the world’s largest appliance manufacturer, and continue to deliver positive benefits to New Zealand as a result.

-Ends-

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news