Fisher & Paykel Appliances has said it is to form a strategic partnership with Turkish manufacturer, Arcelik Corporation (Beko). The deal would expand the New Zealand company’s distribution through Arcelik’s network, including Eastern Europe and the Middle East.
F&P said the scope of the alliance involved a wide range of co-operative activities between the two companies.
“Initially the partnership will focus on sourcing of major home appliances, technical co-operation and distribution opportunities,” said Fisher & Paykel.
Arcelik, arguably Europe’s third-largest home appliance manufacturer, has manufacturing facilities in Turkey, Russia, Romania and China, with annual turnover of more than 4 billion euros ($6.38 billion), the company said.
Arcelik president Gunduz Ozdemir said Fisher & Paykel was a world leader in appliance design innovation and manufacturing. “We are delighted to be able to jointly develop beneficial strategies for both companies going forward,” he concluded.
Fisher & Paykel’s primary markets are New Zealand, Australia and the United States, but Europe is the fastest growing of its markets with revenue up over 600 per cent last year to $NZ98.6 million ($A84.67 million).