Prices set to rise in September: Fisher & Paykel

By Chris Nicholls

SYDNEY: Fisher & Paykel Australia chief executive officer Mike Church has warned people can expect prices to rise come September, due to the rising cost of steel.

Speaking after a press conference announcing the closure of their Cleveland, Brisbane, plant yesterday, Church confirmed to Current.com.au that recent metals price increases would mean costs would go up, as suggested by global chief executive John Bongard at an earlier press conference.

“We had a huge hit two years ago, with China and India [‘s demand increase] and it started to settle last year. Now, this year we’ve just been given notice that we’re going to get a huge hit in the second half — for us, that’s September on. It’s really difficult," Church said.

“We’re expecting price rises in steel in particular, and there’s nothing you can do about it. Most appliance manufacturers around the world suffer that fate — we’re not on our own there. It’s just another ingredient that makes it harder, that’s all."

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