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fisher & paykel axes 300 workers - pet manufacturing process

by:Cailong     2019-08-25
fisher & paykel axes 300 workers  -  pet manufacturing process
More than 300 jobs will be canceled after white appliance maker Fisher &
Paykel announced the closure of its Brisbane plant.
Fisher & Paykel says factory shutdown in Brisbane-
Lost 310 jobs. -
Is part of a centralized production strategy for Thailand, Mexico and Italy.
New Zealand-high cost of quoting existing plants
Fisher & Paykel, based in the United States, said it would develop a factory in Mexico, which was acquired from Whirlpool, a rival U. S. Whitehorse manufacturer.
It will transfer three manufacturing plants to Mexico, as well as existing factories in Thailand and Italy.
Listed companies on the New Zealand and Australian stock exchanges are expected to save about $ NZ50 m ($42. 22 million)pre-
Tax changes every year after-
About $ NZ50 million ($42. 22 million).
Capital expenditure is estimated to be about million New Zealand dollars ($84. 43 million)
Said the company.
Fisher & Paykel will cut its Dunedin staff in New Zealand by 430, Brisbane by 310, and California's DCS cooking plant by 330.
The cost of these initiatives will mainly come from the sale of New Zealand and Australia's websites, which will be closed and are expected to sell for about $ NZ100 million ($84. 43 million).
Fisher & Paykel also expects cost savings in purchasing components from their respective local suppliers.
"Our products are innovative and high-end, but unless we are able to reduce some of the cost differences in the manufacturing process, especially labor costs, we will not be able to continue to provide sufficient returns to shareholders, "Chief Executive John Bongard said in a statement.
Mr. Bongard said that the high price of New Zealand dollars, the complex and expensive compliance costs of Australian and New Zealand manufacturing and the free trade agreement with China and Thailand made it difficult to compete.
Remaining production facilities in Oakland, Ohio and Borso del Grappa, Italy, and their engineering and design teams will continue to operate as always.
The company will send New Zealand, Australia and the United States personnel to manage the manufacturing process of the new plant to ensure that the quality standards are maintained.
Facilities, including refrigeration plants and headquarters, will remain in New Zealand, employing more than 1600 people.
Action Australia will continue to employ 330 people and 340 staff will continue to work in the United States.
Fisher & Paykel, a major manufacturer in New Zealand for nearly 70 years, is expected to save $ nz14. 5 million ($12. 24 million)
The annual closing of the Dunedin plant costs nz26 USD at one time. 0 million ($21. 95 million), pre-tax.
The company started production in Australia about 20 years ago and will move Brisbane pants to Thailand in March 31, 2009.
Fisher & Paykel said in a separate statement that it purchased a refrigeration production facility in Renault, Mexico, from Whirlpool, which has a strategic alliance with Whirlpool.
The company will pay $33 ($35. 15 million)
Payments are made in equal installments every four years and will cost $8 m on modifications.
Production of Fisher & Paykel brand appliances will begin on July.
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