Nov. 11 (Bloomberg) — Fisher & Paykel Appliances Holdings Ltd., New Zealand’s biggest home appliance maker, said it will sell components and license its technology to Whirlpool Corp., generating annual sales of NZ$35 million ($24 million) to NZ$40 million.
The agreement to supply components, which extends an existing alliance with Michigan-based Whirlpool, the world’s second-largest home-appliance maker, will start in late 2005, Auckland-based Fisher & Paykel said in a statement to the New Zealand stock exchange today.
Fisher & Paykel said it expects to spend NZ$25 million to expand capacity to supply the components for five years. Under its existing agreement, Fisher & Paykel will supply its DishDrawer dishwashers to be sold under the Whirlpool brand this year.
From Bloomberg