haier: no plans to take bigger f&p stake - home appliance manufacturer

Chinese home appliance maker Haier last year bought a stake in Fisher & Paykel Appliances 20, which said it did not intend to increase its stake in the New Zealand manufacturer.
Although New Zealanders are not familiar with it, the company is clearly capable of taking over F & P appliances.
Haier's revenue was $25 in 2008.
According to Euromonitor data commands, 7 billion and 5.
Accounted for 1 per cent of the global white home appliance market.
Its 810ha Industrial Park and headquarters in the port city of Qingdao, China are equipped with its own streets, shops, accommodation buildings and "universities" for staff training ".
Another 2800ha Haier Industrial Park is located in Huangdao, facing Qingdao across the sea.
But the company has grown into one of the world's largest home appliance brands.
It is not easy to have 29 manufacturing plants in 25 countries.
Soon after its establishment, in the middle
More than 1980 years old Haier, troubled by the quality of its single refrigerator production line, sits on the edge of bankruptcy.
However, an event is about to be held, and it has become a Chinese business legend.
On 1985, Haier chief Zhang Ruimin received a letter from a customer who was disappointed by the refrigerator failure.
His reaction to the letter was that he ordered his staff to use sledgehammer to destroy 76 refrigerators sitting on the factory floor waiting for delivery.
Philip Carmichael, president of Haier Asia Pacific, said that in order to avoid the refrigerator being "sold from behind the truck", Zhang ordered the refrigerator to be destroyed, which may lead to more disappointment.
According to reports, Zhang said at the time: "If we don't destroy these refrigerators today, the company will be smashed tomorrow.
"The sledgehammer is now in the National Museum of China in Beijing.
With the help of German manufacturer Liebherr at the end of 1980, Haier managed to improve the quality of its products and began exporting in early 1990.
The company currently employs 60,000 people and has products in more than 100 countries.
In 1998, Haier established the global brand strategy with the slogan of "settling in and taking over.
The motto may be a bit disturbing for New Zealanders because they are worried that China will expand into New Zealand.
But Carmichael said that in the presentation presented by the company to visiting New Zealand and Australian journalists, the Mandarin translation of the phrase "take over" was poor.
"Taking Over" actually means "being a leader," he said ". Haier vice-
President Zhou Yunjie said the company had no plans to increase its stake in F & P appliances.
Asked if Haier would be involved in any financing for the future of F & P Appliances, Zhou said it would be a decision made by the board of directors of the two companies, not him.
He added that the relationship between Haier and F & P Appliances aims to achieve a win-win situationwin outcome.
F & P appliance sells Haier products in New Zealand through its dealer network.
Haier will begin to repay this favor to China's F & P appliance company to make Oriental Jade Wood-
Enter the market on an almost unimaginable scale.
But Zhou Xiaochuan said that F & P Appliances lack brand awareness in China, and it will take a long time for Chinese consumers to accept their products.
Haier will also face challenges in persuading New Zealanders to buy China's white home appliance brand.
While Haier is known for its refrigerators and washing machines, some of its other products may be a bit quirky.
Among them is a children's TV that forces them to answer a math question before watching their favorite show "mouse"
Cold-proof refrigerator and mirror that can recognize the user's face and set the tap water temperature accordingly.
Haier * manufactures factories in 25 countries.
* $25 in revenue.
2008 7 billion.
* Bought a stake in F & P appliances20 last year.
* Collective ownership in Chinese form.
Christopher Adams came to China as a guest of Haier.