Fisher & Paykel offloads land, facilities in NZ

By Patrick Avenell

Fisher & Paykel is set to receive a $6.3million cash boost after the manufacturer offloaded 4.3 hectares of vacant land excess to the company’s requirements.

The land, which is described in a note to the ASX as “a parcel of land at the back of its East Tamaki site in Auckland” was sold by Colliers International.

Funds from this sale are set to be realised in the second half of FY09.

Also in this notice to the ASX was advice regarding the sale of Fisher & Paykel’s Mosgiel, Dunedin, site and facility. Fisher & Paykel has reached a “conditional agreement” over the sale of this asset to Fonterra Co-operative Group. Final details on this sale are expected to be finalised in November.

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