Chinese-owned Fisher & Paykel Appliances is to expand its New Zealand-based operations with a focus on new product development and the company’s component and technology business.
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.
Labour finance spokesman David Cunliffe wants to give politicians the power to meddle in commercial decisions:
“The threat of an overseas takeover of Fisher and Paykel is now very real and the likelihood of excellent skilled jobs going overseas is worryingly high.
“Fisher and Paykel is a Kiwi innovation icon. It is the sort of company we need more of in New Zealand, not less. But National is just waving it goodbye.
“The implications of its sale to New Zealand are too important leave the takeover approval to officials. Such a major decision must be made by Ministers. That’s Labour’s policy.
If that’s Labour’s policy Heaven help the share market when they get back in government.
Who’d want to risk their money in the share market when they know that politicians could devalue their shares at whim?
Another kitchen renovation question: which whiteware do you recommend?
We’ve had a Fisher and Paykel double dishdrawer for years.
It’s good when there’s just the two of us because it gets full before we run out of dishes but it does take a long time to do a cycle.
It’s had a couple of malfunctions and is at an age where it probably isn’t worth repairing if it breaks down again.
Kitchen renovations which are in the planning stage could be an excuse for a replacement.
The question is, if we go for a new dishwasher do we go for a dishdrawer again or another make and/or model?
The oven is 21 years old, its seal is sagging and both it and the cook top will be replaced.
Everyone tells me to stick to electricity for the oven, but do I go for gas or stick with electricity for the cook top and if it’s the latter is conventional or convection better and which brand?