FPA Opens Thailand Plant

Fisher & Paykel Appliances Holdings Limited

FPA Stock Exchange Release ASX/NZX 9 October 2008

FPA Opens Thailand Plant

Fisher & Paykel Appliances officially opened its new Thailand manufacturing facility in Rayong last week. The opening ceremony was attended by the Company’s Board of Directors and in excess of 200 officials and guests.

“We are delighted that this initial relocation process to Thailand has been achieved in such a short time frame and within the relocation budget,” said John Bongard, CEO and Managing Director. “This achievement with the Laundry facility gives us tremendous confidence for the remaining relocations planned over the next 12 months.”

The factory, located in the duty free zone of the Amata City Industrial Estate, commenced initial production in March of this year. “The presence of Fisher & Paykel has added value and prestige to our estate,” commented Chackchai Panichapat, Chairman of the Executive Board of Amata City. “The Fisher & Paykel factory becomes another important landmark and sets an example of a very well built and managed facility.”

Annual laundry production is planned to reach 320,000 units by next year. “We are excited by the early production numbers and the quality of the finished products, both of which have exceeded our expectations,” continued John. “Initial cost savings are also running ahead of budget.”

The site currently employs 230 workers predominantly Thai nationals along with a number of key ex pats. This figure is due to increase in the coming months as the Electronics manufacturing facility becomes fully commissioned. A refrigeration and DishDrawer factory is planned to be completed by mid 2009.

ENDS

© Scoop Media