Haier steps up F&P Appliances expansion plans
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.
Owner Haier first bought into the company three years ago and completed a full takeover last year.
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."
Mr Broadhurst says the new F&P products for these markets will come from New Zealand.
“I have recently returned from China where I finalised 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.”
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."