fisher and paykel
Fisher & Paykel (one of my favorite brands of appliances) seems to be having the same trouble everyone else has been having with this economic downturn, except only worse. From my vantage point, they have been quite successful with their laundry products offering a very functional top load high efficiency washer at a price that doesn’t break the bank. The Fisher & Paykel name has continued to find it’s way into more homes in my area, from refrigeration to kitchen cooking and cleanup. But I guess without a good flow of cash, even the best products are destined to go nowhere. Haier is a well known Chinese brand that usually sells in the lower end of the product range, so I am not sure how this combination is going to benefit F&P, but I am sure Haier is going to make out just fine. Time will tell how this will affect F&P and their future product plans. I guess seeing F&P appliances next to Haier on the showroom floor may be the best for both party’s if it all works out. – Me
Troubled whitegoods maker Fisher & Paykel Appliances has confirmed that it will release its annual results tomorrow.
The company put its stock into a trading halt yesterday after BusinessDay had reported at the weekend that Chinese company Haier was likely to take a cornerstone stake in the company. BusinessDay also reported there was likely to be a capital raising through existing shareholders of perhaps as much as $200 million.
Read the full story at Stuff.co.nz