Fisher & Paykel Healthcare Corporation Limited (NZSX:FPH, ASX:FPH) announced today that it has awarded the main construction contract for the third building on its Auckland site to Mainzeal Property and Construction Ltd.
As announced in December 2009, the company is investing in a third building on its Auckland site to accommodate anticipated growth. The total cost of the 31,000 m2 building project is expected to be approximately NZ$95 million. Site works have been substantially completed and building construction will start later this month, with completion expected in late 2012. Construction of the building will be funded by a combination of operating cash flow and existing debt facilities.
“We continue to see strong opportunities for growth in the respiratory care, acute care and obstructive sleep apnea markets we serve with our innovative medical device technologies”, commented Michael Daniell, Fisher & Paykel Healthcare’s CEO.
“The new building will provide increased research and development, laboratory, office, manufacturing and warehouse space and will provide the capacity to more than double our New Zealand based research, development and clinical marketing activities.”
About Fisher & Paykel Healthcare
Fisher & Paykel Healthcare is a leading designer, manufacturer and marketer of products and systems for use in respiratory care, acute care and the treatment of obstructive sleep apnea. The company’s products are sold in over 120 countries worldwide. For more information about the company visit www.fphcare.com
Michael Daniell MD/CEO on +64 9 574 0161 or Tony Barclay CFO on +64 9 574 0119.