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Pattaya Daily News

26 April 2007 :: 13:04:40 pm 23012

New Zealand Multinational In Cost-Cutting Move To Thailand

Despite recent fears that foreign investors were avoiding Thailand, it seems that New Zealand still has confidence in the Thai economy. On Thursday, the New Zealand firm, Fisher and Paykel Appliances Holdings, declared that it was to locate a new factory making washing machines and clothes dryers in Thailand, in March, in order to remain internationally competitive.
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The company is responding to the cost-saving trend of moving to Asian locations, such as Thailand, China and South Korea, where labour-costs are substantially lower than in the West, New Zealand and Australia.

Fisher and Paykel is a multi-national company and one of New Zealand’s key manufacturers, with an annual turnover of 1 billion New Zealand dollars. The company expects to make economies of scale amounting to 10 million to 15 million New Zealand dollars, annually, by moving to Thailand.

The company currently employs 4,000 employees, worldwide. Appliances are produced in the US and Italy, while refrigerators, cooking stoves and dishwashers at are made in New Zealand.

Reporter : PDN staff   Photo : PDN staff   Category : Business News

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