A company spokeswoman told the Otago Daily Times that Haier was fully supportive of FPA's history, achievements and organisational culture and was moving to assure Dunedin that jobs in the city were not under threat by the takeover bid.
FPA has design and support staff and a call centre in the Wall Street mall.
In a statement, company director and president of Haier White Goods Group, Liang Haishan, said Haier believed the proposed offer represented excellent value for shareholders and would be well received by them.
"We believe the opportunity to receive cash and realise a significant premium over the current share price is attractive for FPA shareholders, particularly given market volatility, recent economic uncertainty and the competitive nature of the global white goods sector," he said.
Allan Gray Australia, which is the largest FPA shareholder after Haier with a 17.5% stake, had entered into an irrevocable agreement to accept the proposed offer.
Mr Liang said that represented a strong endorsement of the value of the proposed offer.
The proposed offer would be subject to general conditions and a minimum acceptance that Haier held more than 50% of FPA shares.
Haier saw FPA remaining as a stand-alone company led by local management. It fully supported the direction of FPA's current business strategy.
"The transaction will also help facilitate a closer partnership between the two companies. We want the FPA brand to stay and we will support its growth as a global premium brand - with the additional advantages of operating with the Haier Group."
Mr Liang said the group also wanted to retain the existing FPA development base in New Zealand and to support the future growth of the company's product development capabilities.
The shares closed last night at $1.04 and have not traded at $1.20 since September 2008.
While the company is still listed in New Zealand, the manufacturing of its appliances is undertaken mainly in Mexico and Thailand.
Forsyth Barr broker Haley Van Leeuwen has lifted her valuation of FPA by 36% to $1.31 a share, and maintained a buy on the company.
Forsyth Barr was always aware there was an upside to its old forecasts but FPA's projections were greater than envisaged, she said.
The revised 2017 earnings before interest and tax (ebit) forecast was $142.7 million, inclusive of $30 million of ebit from the finance division.
Given FPA's past performance, Mrs Van Leeuwen had targeted the lower end of the company's profit guidance range. However, the uplift was substantial and had flowed through to her valuation.
"We believe Haier will have to offer something close to our valuation to be successful. In addition, if unsuccessful, we do not believe the share price will fall significantly. The balance of the risk remains firmly to the upside," she said.
