Record Grundfos investment in Mexico

20/02/2008

Record Grundfos investment in Mexico

Attended by Her Majesty Queen Margrethe of Denmark.

Danish Vice Prime Minister, Bendt Bendtsen and the Mexican President’s wife, Lic Margarita Zavala de Calderón, a new Grundfos factory was officially opened today in San Luis Potosi, Mexico. The event marked an important milestone in the pump Group’s more than 17m Euro investment in Mexico.

In his welcome speech to the Queen and other prominent guests, Grundfos Group Chairman, Niels Due Jensen praised the positive and friendly relations between Denmark and Mexico. He also expressed wishes that Grundfos’ presence would contribute to increasing the country’s employment, trade and export.

”Please let me stress that growth in our company has always been based on long-term relations and partnerships with customers, suppliers, staff and society – for the benefit of all parties,” said the Group Chairman.

The new factory will provide the Mexican as well as the large American markets with high-quality Grundfos products. Mr Due Jensen in his speech explained why San Lui Potosi was particularly selected as location for the factory.

”Here we found highly qualified manpower, a very good infrastructure and positive authorities, and we already feel at home here,” Mr Due Jensen said, and continued:

”We are very proud that at the moment Grundfos’ investment is the largest Danish investment in Mexico. The 18,000 sq m building we are inaugurating today, together with the 100,000 sq m plot, represent an investment of 17m Euro. We have already planned extensions and I expect we’ll reach a total of 46m Euro investment by 2010. By then we expect local staff will have increased from the present 150 to 500.”

Grundfos has been present on the Mexican market since 1994 with a sales company close to Monterrey. The new factory is an important element in the Grundfos Group’s growth strategy for the North American market, where products adjusted to the market, in high quality and with short delivery, are decisive success factors in a market with heavy competition.

The Grundfos Group today has more than 17,000 staff members in 72 companies in 43 countres. Group HQ is in Denmark where 5,000 staff members are employed.