NZ firm steps up production under Chinese ownership

An iconic New Zealand whiteware maker that was bought out by Chinese appliance giant Haier last year on Wednesday announced the global launch of 70 new products.

The Fisher & Paykel Appliances (F&P) launch followed up on a pledge by Haier to expand the company's research and development arm following F&P's takeover and delisting in November.

The release of the new products was the largest in F&P's 79- year history, according to the company

"Our focus is now on establishing Fisher & Paykel's New Zealand operations as the centre of excellence for R&D for the group worldwide," chief executive Stuart Broadhurst said in a statement.

"Our recruitment for around 100 new jobs is progressing successfully, with great talent being sourced locally. Our plans for growth continue to accelerate, which means if we get more good applicants than the initial 100, we'll certainly look at hiring them."

The expansion would have an obvious ripple effect to smaller New Zealand businesses and contractors, producing a positive cycle of growth for New Zealand as profits from the products would be invested back into growing New Zealand R&D as one of the centers of excellence for the group, he said.

After the takeover last year chairman of Haier New Zealand Investment Holding Co. Ltd. and president of Haier White Goods Group, Liang Haishan, said Haier would maintain Fisher & Paykel Appliances as "a unique Kiwi company."

New Zealand's main opposition Labour Party had voiced concerns that high-paying and highly-skilled research and technology jobs would be lost abroad with the takeover.

Fisher & Paykel Appliances Holdings, the parent company of Fisher & Paykel Appliances and Fisher and Paykel Finance, employs more than 3,300 staff worldwide.

Established in New Zealand in 1934 and first listed in 1979, the company has manufacturing plants in New Zealand, Italy, Thailand and Mexico.