27 May 2009

New US distribution deal for Fisher and Paykel

10:52 pm on 27 May 2009

Fisher & Paykel Appliances has signed two new agreements with one of the biggest appliance retailers in the United States.

Sears Holdings says its outlets will become the US distributor of a new Elba brand of home appliances.

Its showrooms will also add several other lines of Fisher & Paykel appliances to all its 62 locations.

The ELBA brand will be manufactured in Fisher & Paykel's North American plant and will be sold in Sears' 85 outlet stores across the country.

Fisher & Paykel Appliances on Wednesday reported a full-year loss of $95.3 million. The result is being blamed on lower demand for whiteware and the cost of shifting manufacturing to Mexico, Thailand and Italy.

Its trading halt will be lifted on Thursday.