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Workers at Fisher and Paykel's Auckland factory - Source: ONE News -
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Jobs at Fisher & Paykel's Auckland factory are not believed to be under risk, despite the proposed buy-out by Chinese appliance giant Haier.
News of the takeover has boosted the company's value 40% on the NZ stock exchange, providing a much-needed shot of confidence in the business sector.
But Macquarie senior investment adviser Brad Gordon told ONE News that rising manufacturing costs in China should be reassuring for the 600 Auckland-based workers.
"If we can still do things better in New Zealand, we're not necessarily going to lose jobs."
Fisher & Paykel has been a fixture in New Zealand homes since the 1930s and is recognised as a world leader in design, thanks to its flagship product - the dish drawer.
But it was hit hard by the global financial crisis, posting a financial loss of $95 million in 2009, so Haier came to the rescue with an injection of $80 million.
"[We're] a creative company and so one shouldn't be surprised that global enterprises looking for those sort of 'smarts' may come along and have a hard look at Fisher & Paykel," said chairman Keith Turner.
"We were advised they were going to talk to the large shareholders - we expect something to emerge."
Haier is one of the world's biggest appliance makers - its 7.8% share of the global whiteware market put it at No 1 spot last year. It has access to 36,000 outlets in China alone and employs 80,000 worldwide.
"China are able to pay up for the products that they need and I think New Zealanders need to accept that," says Gordon.