Fisher & Paykel Appliances has unveiled plans for a state-of-the-art new research and development hub at its East Tamaki headquarters that will allow the company to take on 160 additional Auckland-based engineers.
The almost 80-year-old whiteware maker, which was acquired by Chinese home goods giant Haier in 2012, has set a lofty goal of boosting annual revenue from around $1 billion to $4 billion over the next decade as it pushes to become the "world's leading premium appliance maker".
Haier appears to be keeping promises made during the takeover, when the Qingdao-based firm said it would beef up the New Zealand company's R&D capabilities.
But F&P Appliances' Auckland manufacturing staff are facing a less than certain future, with chief executive Stuart Broadhurst saying production at the East Tamaki factory - which employs around 180 workers - is expected to fall and the facility will be closed "at some point".