In 2004, Fisher & Paykel Appliances purchased the United States-based cookware manufacturer Dynamic Cooking Systems, and Italian cookware company Elba in 2006.
Fisher & Paykel products are available in more than 80 countries worldwide. The company had manufacturing plants at Auckland in New Zealand; Cleveland in Australia; Huntington Beach, United States; Treviso, Italy; Rayong, Thailand; and Reynosa, Mexico but announced the closure of four manufacturing facilities in; Dunedin – New Zealand, Cleveland – Australia, Huntington Beach, and Clyde Ohio – USA, on 17 April 2008.
In 2012, Haier, a major Chinese appliance manufacturer, purchased over 90% of Fisher & Paykel Appliance shares.
Fisher & Paykel Appliances Ltd was listed publicly in 2001, following the separation of Fisher & Paykel Industries Ltd into Fisher & Paykel Healthcare Ltd and Fisher & Paykel Appliances Ltd that same year.
Fisher & Paykel Industries Ltd was founded in 1934 by Sir Woolf Fisher and Maurice Paykel. The company publicly listed in 1979 with an authorized capital of NZ$ 40 million.
Initially, the company was an importer of Crosley appliances, Maytag and Pilot products; in 1938 the company began manufacturing Kelvinator washing machines under license. This followed the introduction of tariffs by the First Labour Government of New Zealand.
In 1956, manufacturing was moved to a purpose-built factory in Mount Wellington, Auckland. This facility included flexible machinery manufacturing techniques developed in tandem with the raw material suppliers, enabling Fisher & Paykel Industries to greatly increase production.
In 1955, Fisher and Paykel acquired Dunedin electric oven manufacturer H. E. Shacklock Ltd, which dominated the New Zealand domestic appliance market through the era of Government protectionism. Subsequently, the Shacklock brand was gradually withdrawn from the Fisher and Paykel product range.
The company began exporting within Australasia and East Asia around 1968. At this time the company also manufactured cabinets, spark plugs and televisions.
During the 1980s the company became more focused on research and development, resulting in the development of the ECS direct drive mechanism washing machine and highly automated production lines. In 1989, the company opened its first overseas manufacturing facility in Cleveland, Australia.
The company entered the European market in 1992, and by 1994 was exporting to over 80 countries.
On 12 November 2001, Fisher & Paykel Industries split into Fisher & Paykel Appliances Holdings Ltd and Fisher & Paykel Healthcare Corporation Ltd.
In October 2004, Fisher & Paykel Appliances acquired Dynamic Cooking Systems Inc, a United States manufacturer and distributor of cooking appliances. Dynamic Cooking Systems was acquired for US$33 million (NZ$49.3 million) in a debt-free state, allowing the company to leverage market presence while maintaining its quality of engineering.
In June 2006, the Italian cookware business Elba was acquired from DeLonghi for €78 million (NZ$158 million). Elba has been since renamed as Fisher & Paykel Appliances Italy S.p.A. and exports to over 54 countries, focusing on the UK market.
Fisher Paykel’s flagship dishwashers get mixed reviews for reliability but seem to have more problems than average, as commented in trade reviews and consumer reviews.
The poor reliability record of dishwashers is confirmed in a 2010 Appliance Reliability survey by Consumer New Zealand of nearly 19,000 customers. Other Fisher & Paykel products fare better.
Fisher & Paykel Appliances currently manufactures cooking, laundry, and whiteware appliances. The company’s flagship product is the DishDrawer double drawer dishwasher which is claimed to wash dishes more efficiently than standard dishwashers or hand washing.
The current Fisher & Paykel-branded product range includes built-in ovens, electric cooktops, dishwashers, dryers, freezers, ranges, range hoods, refrigerators, and washing machines.
A large number of Fisher & Paykel products utilize a microprocessor and brushless DC electric motor technology from production line equipment to improve efficiency.
The company’s trademarked brushless motor-based performance features include Smart Drive washing machines, SmartLoad Dryers, and DishDrawer dishwashers. Microprocessor-based control systems form the basis of Active Smart refrigerators and AeroTech ovens.
Fisher & Paykel Appliances Holdings Limited
Industry Major appliance
Founded 1934; 84 years ago
Founder Maurice Paykel & Sir Woolf Fisher
Headquarters East Tamaki, Auckland, New Zealand
Stuart Broadhurst, Managing Director and CEO
Keith Turner Chairman
Revenue Increase: NZ$1.412 billion (2007)
Operating income: Decrease NZ$93.818 million (2007)
Net income: Decrease NZ$61.180 million (2007)
Number of employees: 3300
Parent Company: Haier