Grundfos invests heavily in Turkey

26/09/2005

Grundfos invests heavily in Turkey

Grundfos has invested EUR 4 million in new facilities in Turkey, and last Friday the Group inaugurated an assembly plant as well as a new sales office on the outskirts of Istanbul.

Grundfos has invested EUR 4 million in new facilities in Turkey, and last Friday the Group inaugurated an assembly plant as well as a new sales office on the outskirts of Istanbul.

Already in 1998, the Group established a sales company in Turkey, and during the past few years this company has experienced annual growth rates of approx. 50 per cent, and last year the total turnover amounted to EUR 22 million.

”We consider Turkey an important market. The country already has a large and rapidly growing home market, and if we look ahead Turkey will no doubt become an important pierhead for Europe to the Central Asian area,” says Executive Vice President of Grundfos Søren Ø. Sørensen.

The Group expects the high growth rates to continue in the years to come and a doubling of the turnover in Turkey during the next three years, and with the establishment of the assembly plant in the country it has now become possible to make an even more dedicated effort in the Turkish market.

With the large investments, the Group wishes to signal its confidence in the market opportunities of the country and in Turkey becoming one of the new partners of an enlarged Europe.

Grundfos currently employs 45 staff in Turkey, and during the next three years the company expects to increase this number to 100 employees.





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