Fisher Paykel? (appliances, purchasing, tax)

[lovesMountains]

Would appreciate anyone who could offer insight as to the stability of this company? The most recent articles I can find are from 2009 and suggest the company was going under.

I am very interested in purchasing one of their washing machines (4.2 cubic foot). Several people have told me they love the performance of these machines but I am worried about the quality of the product now that I read they are having most parts built in Thailand and Mexico

Many thanks from America!

[Geenie]

Don't touch it. F&P are overpriced and the build quality is awful.
Fisher and Paykel cheap and nasty second cousin WOMF for Auckland City

[markovski]

Im assuming you are only after information about F & P appliances? They have manufacturing plants all over the show now. Getting things built offshore has helped their bottom line. Unfortunately they closed their Dunedin plant which has caused a big public backlash against them in NZ, especially the city of Dunedin. Im sure some in the US plants were closed about the same time too.

Not sure your concerns re: Mexican plants. Do you know just how many factories operate south of the border making products for US companies.

However they have started an alliance last year with a Chinese whitegoods company called Haier- done so to get a foothold into their market. This should hold them in good stead for the future. Their products are now being sold their to the top end of the market. So far so good apparently. I do have concerns that (percieved to be) shoddy Haier products will be sold in NZ now but thats probably not something that will impact on any decision you make OP.

Back in 2008-2009 financial year they did make an after tax profit about NZD$30mil, considering the global economy at the time probably par for the course. Last year their profit was NZD18mil. Pretty small fry but at least still a profit.

While Im a shareholder in F&P appliances and also healthcare I must admit I pay no real attention to what is going on with them. However I feel very comfortable that my shares in them are in the 'do not sell, just hold onto them for the long haul' pile. Hope that helps mate.

[lovesMountains]

Ya'll are both awesome, thank you so much - appreciate the input!

[Geenie]

No wurries, you're welcome

[Move2Oz]

I have read that their Dishdrawers are the most awful product ever produced. I own an F & P washer & fridge and both work well so far (fridge 10+yrs and still going good) (down south here, probably made in China however).