NZ's F&P Appliances to write down Nth American assets

WELLINGTON Oct 30 (Reuters) - New Zealand-based appliances maker Fisher and Paykel Appliances Ltd FPA.NZ said on Friday it expected to write down the value of its North American assets between NZ$70 million ($51 million) and NZ$75 million.

It said the assets, which include brands, plant and equipment, and stock, had a value of NZ$119.5 million before the review, and the charge would be taken in the first half result.

Shares in the company, which has had to restructure and bolster its balance sheet in the face of falling sales, closed on Thursday at NZ$0.63. ($1=NZ$1.37)