New Zealand's Fisher and Paykel and Turkey's Arcelik Corp. announced that they are forming a strategic partnership.
John Bongard, Fisher and Paykel Appliances Holdings Ltd chief executive, said Arcelik would distribute his company's products in Eastern Europe, former Soviet republics in the Commonwealth of Independent States and the Middle East.
The alliance will also involve sourcing home appliances and technical cooperation, the companies said. .
Arcelik, Europe's third-largest home appliance manufacturer, has manufacturing facilities in Turkey, Russia, Romania, and China. FPA's primary markets are New Zealand, Australia and the U.S., but Europe is the fastest growing of its markets with revenue up over 600% last year. (AP)