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Haier Buys Stake in Fisher & Paykel May 28, 2009 |
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Haier said it will buy a 20% stake in Fisher & Paykel Appliances. Haier will pay up to 58 million New Zealand dollars (US$36 million) for the stake and has signed a cooperation agreement covering sales, manufacturing, and joint business development, Fisher & Paykel said.
The company also announced that revenue for the year ended March 31 fell 2.4% to $852 million. It made a net loss of $59 million.