KEY POINTS:
Fisher & Paykel Appliances hopes to boost its global sales through a strategic partnership with Turkish firm Arcelik - Europe's third largest home appliance manufacturer.
F&P Appliances chief executive John Bongard said the partnership would initially focus on sourcing major home appliances, technical co-operation and distribution opportunities.
Arcelik offered F&P distribution opportunities in Eastern Europe, CIS [11 former Soviet republics] countries and the Middle East, Bongard said.
There was also the possibility of manufacturing F&P products at Arcelik's facilities, although nothing had been planned.
Arcelik had manufacturing operations in Turkey, Russia, Romania and China, employed more than 18,000 people and had an annual turnover of more than €4 billion ($7.5 billion).
Arcelik president Gunduz Ozdemir said Fisher & Paykel Appliances was a world leader in design innovation and manufacturing.
"We are delighted to be able to jointly develop beneficial strategies for both companies going forward," Ozdemir said.
F&P's shares closed up 5c yesterday at $3.58.
Forsyth Barr analyst Guy Hallwright said the partnership was an incremental step rather than a transforming move for the company.
"Nothing at all really will be seen, I wouldn't have thought, in terms of impact until the next financial year," he said.
Fisher & Paykel would fill gaps in Arcelik's product range and in return could rebrand Arcelik products, he said.
