‘We’re Keeping Fisher & Paykel Kiwi’: Haier

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AS F&P is delisted from the NZ stock exchange, its new Chinese owner insists it’s “keeping it Kiwi”

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Fisher and Paykel store, Hong Kong.

Fisher & Paykel Appliances has been delisted from the NZX this week as its new owners, Haier, move in.

After the takeover, finalised last month, NZ Labour Party raised concerns that jobs may be lost abroad as the appliance giant changed hands.

In a PR offensive, Haier reaffirmed its commitment to keeping the “unique” Fisher & Paykel Appliances Kiwi despite the delisting. President of Haier White Goods, Liang Haishan, said.

“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.

Fisher & Paykel was first set up in NZ in 1934.

Haier also said it was ‘very firm’ in its intentions to support the existing business strategy of the appliance maker, retaining its CEO and head office in New Zealand.

 

The Chinese giant also insists it will retain the current ratio of New Zealand and Australian independent directors on the board for at least the next two years.

Haier, the world’s biggest white goods maker, said it would only change these intentions after consultation with the F& P 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.”

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