The Chinese whiteware manufacturer Haier bought a 20% stake in New Zealand whiteware maker Fisher & Paykel in 2008. For Fisher and Paykel, which had increasingly internationalised its production and marketing, but which faced financial difficulties with the world-wide economic downturn, it was an opportunity to gain entry into the rapidly expanding Chinese market. This Fisher & Paykel plant in Mosgiel, Dunedin, was closed in 2008.
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Otago Daily Times
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