Fisher & Paykel Appliances has struck a multi-million dollar deal to supply parts to its cornerstone shareholder Haier.
The listed whitewear maker says the deal is expected to boost its revenue by $20 million to $35 million a year, but it will need to make a capital investment of about $25 million.
Fisher & Paykel will supply the Chinese firm Haier with components and technology, mostly for motors.
Chief executive Stuart Braodhurst says it's a natural extension to the company's business with Haier.
Mr Broadhurst says so far there have been no delays getting parts to make the motors from Japan.
If approved by Fisher & Paykel's shareholders, the three-year deal will take efffect next year, and could be extended by another seven years.
