WELLINGTON, New Zealand - China's growing economic reach in the South Pacific took another step Monday when home appliance giant Haier indicated it would make a full takeover offer for much smaller New Zealand competitor Fisher & Paykel Appliances. Haier already owns 20 percent of Fisher & Paykel, which also manufactures home appliances including stoves, refrigerators, washing machines and dishwashers. The 78-year-old New Zealand company was hailed locally for decades as a success story, although it has struggled in recent years against tough market conditions and a high New Zealand dollar. Any takeover bid would come as a blow to New Zealand pride and could jeopardize jobs in the country of...
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