Fisher & Paykel Enter into Global Alliance with Whirlpool Aug 11, 2003

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Whirlpool Corporation of Benton Harbor, MI, U.S. and Fisher & Paykel Appliances of New Zealand today announced the formation of a global strategic alliance involving the two major home appliance makers.

The scope of the alliance involves a wide range of cooperative activities between the two companies. Initially, the alliance will focus on global sourcing of major home appliances, as well as the sharing and co-development of product technology, the companies said.

"This global alliance will provide significant growth opportunities for both Whirlpool and Fisher & Paykel," said Jeff Fettig, Whirlpool's president and chief operating officer. "The relationship gives each of us access to a broader set of innovative technologies and products that we can bring to customers in markets worldwide."

"Whirlpool Corporation provides us greater access to important global markets through its extensive global distribution system," added John Bongard, managing director of Fisher & Paykel Appliances. "Whirlpool also offers us the benefits of scale and the strength of its global technology development organization. By combining our talents we can develop commercial and product ideas that will benefit both companies and add value for all our stakeholders."

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