Chief executive Stuart Broadhurst says in a company announcement that Haier has accelerated the business development plan far faster than previously planned.
“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,” he says.
“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 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.” . . .
Opposition MPs and unions criticised the sale of Fisher and Paykel to Haier.
But would this expansion and development wih the creation of more than 100 skilled jobs have happened under local ownership?
That needs capital which Haier was able to provide and local investors almost certainly wouldn’t have.
This is an example of how foreign ownership can provide local benefits.
The ODT has more on this story here.