F&P rejigs branding

By Phil Boeyen, ShareChat Business News Editor

Monday 19th February 2001

Fisher & Paykel (NZSE: FAP) will be getting rid of its Kelvinator and Frigidaire brands to concentrate on its own name as it moves closer to splitting into two separate healthcare and appliance companies.

The company has released further details of its restructuring, announced last November, and says it at the time of the separation there will be two separately listed holding companies - Fisher and Paykel Appliances Holdings and Fisher & Paykel Healthcare Corporation.

The company is currently planning changes to the marketing identity of the Fisher & Paykel appliances brand, capitalising on what is says is the increasing international focus of its appliances division and global awareness of Fisher & Paykel as a brand.

"Market research shows that it is the pre-eminent appliances brand in its home markets of Australia and New Zealand. It is gaining increasing recognition in Asia, particularly in Singapore and Hong Kong, and in the United States. It has recently been released in the United Kingdom," the company says.

"As a by-product of this international brand realignment, Fisher & Paykel Appliances will be relinquishing the use of the Kelvinator and Frigidaire brand names in New Zealand and several of our smaller export markets."

Shareholders will be updated on the company's restructuring plans, including a timetable, when it reports its full year result in June.

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