17 Dec 2009

New building for Fisher and Paykel Healthcare

12:01 pm on 17 December 2009

Fisher & Paykel Healthcare is planning a new building on its East Tamaki site, as well as continuing investment in a manufacturing facility in Mexico.

The 30,000 square metre building will boost the company's office, manufacturing, warehousing, and research and development space.

And the company is currently investing about $NZ20 million to establish a manufacturing facility in Tijuana.

Chief executive Michael Daniell says the building is necessary as the Fisher & Paykel Healthcare has a track record of doubling in size every four or five years.

He won't put an estimate on the cost of the development, but says it will be more than the $60 million price of the last building at the site.

It will be funded by a combination of operating cash flow and existing debt facilities. Construction should begin next year.